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,...

President Sheikh Mohamed and Yoon Suk Yeol visit Barakah Nuclear Plant

 

Nuclear Plant


UAE  and South korea leaders visited the Barakah Nuclear Plant to mark the completion of Unit 3 

The third unit, which was connected to the grid in October last year, has the capacity to deliver up to 1,400 megawatts of emissions-free energy.

Mr Yoon was given a tour of the plant, in Al Dhafra region of Abu Dhabi, and was shown the progress being made on Unit 4.

During the visit, the leaders met teams working at Barakah, including Emirati and South Korean nuclear energy experts, according to state news agency Wam.

More than 50 nationalities are working at the plant which, when fully operational, will provide 25 per cent of the UAE's electricity needs without carbon emissions.

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