UAE Non-Oil Business Activity Surges to Nine-Month High in December

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 The United Arab Emirates' non-oil private sector recorded its fastest expansion in nine months in December 2024, buoyed by strong domestic demand and increased business activity, according to the latest S&P Global Purchasing Managers’ Index (PMI) report. PMI Highlights Robust Growth The seasonally adjusted UAE PMI climbed to 55.4 in December from 54.2 in November, signaling robust growth well above the 50.0 threshold that separates expansion from contraction. This marked the third consecutive monthly increase, underscoring sustained recovery in the non-oil sector. Key drivers of growth included a notable rise in new business activity. The new orders subindex rose sharply to 59.3 in December from 58.0 in the previous month, reflecting strong domestic demand. Challenges Amid the Growth While domestic demand flourished, export growth slowed, with the export orders subindex dropping to a seven-month low. Additionally, businesses faced mounting backlogs due to capacity constraints,...

A large Emirati delegation participate in COP 27 activities

 


On Sunday, the UN climate meeting, COP27, got underway in Sharm El Sheikh, Egypt, amid mounting calls for wealthy nations to make up for the poorer, more climate-vulnerable nations. Delegates from all across the world took part in the summit's yearly climate change negotiations.

At COP27, more than 130 diplomats lobbied for the establishment of a specific loss and damage finance facility.

According to Reuters, a significant portion of the attention around COP27 was focused on loss and damage, or compensation money given by wealthier nations to weaker, lower-income countries that contribute little to greenhouse gas emissions.

With all eyes on whether wealthier nations will agree to have the compensation included formally on the agenda, delegates approved the conference agenda during the opening plenary session to kick off the two-week negotiation process.

With an expected attendance of over 40,000, the summit featured one of the largest delegations at the annual global climate conference, which is taking place in Sharm El Sheikh, Egypt, from Nov. 6 to Nov. 18.

"The Egyptian Presidency team has worked relentlessly to establish an enabling climate that is conducive to fruitful negotiations," stated Ambassador Wael Aboulmagd, Special Representative to COP27 President. As the COP's hosts, we are eager to bring in representatives from different countries and stakeholder groups in order to generate the necessary momentum for addressing the necessary steps for the prompt and widespread implementation of climate commitments and pledges.

All conversations between delegates took place in the Blue Zone.

Governments and authorised observers, including youth advocates and scientists, also planned a broad range of exciting events 

The corporate community, youth, civil society, academia, and artists from all over the world have additional room to be present and participate in a 22,500-square-metre Green Zone.

Through events, exhibitions, seminars, cultural performances, and discussions, it aims to encourage open and active dialogue and involvement among climate actors.

After the summit's formal opening, a number of roundtable discussions were held to address six main issues: just transitions, food security, innovative finance for climate and development, investing in the future of energy, water security, and climate change, and the sustainability of vulnerable communities.

The COP27 Egyptian Presidency also designated numerous significant thematic days, including panel pledging opportunities, talks, roundtables, and side events, in addition to the international negotiations that took place in Egypt throughout the conference.

With youth, women, civil society, and indigenous people, among others, at the forefront of the talks, these thematic days are a part of efforts to accelerate climate action that can solve current implementation bottlenecks and gaps.

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