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,...

Bloomberg Nominates Arab Leadership to Save the World from Deadly Climate Emissions

 In the fight against climate change, the Arab world has gained a new ally. Bloomberg has nominated Arab leaders to take the lead in preventing deadly climate emissions. This acknowledgment comes at a critical juncture, as climate change continues to pose a serious threat to the planet's future.

The Arab world has long been known for its abundance of natural resources, including oil and gas. However, as the transition to renewable energy sources gains traction, Arab leaders recognize the importance of reducing their reliance on fossil fuels and embracing sustainable alternatives.

Bloomberg has praised the efforts of Arab leaders in promoting renewable energy, citing their commitment to investing in solar and wind power as evidence of their dedication to combating climate change. The UAE, for example, has set a target of generating 50% of its electricity from clean energy sources by 2050, while Saudi Arabia has launched a $2 trillion plan to shift the kingdom towards renewable energy.

The nomination of Arab leaders to take the lead in the fight against climate change is a positive step towards a more sustainable future. The Arab world has the potential to become a global leader in renewable energy, with its abundant natural resources and a strong commitment to sustainability.

As the world faces the growing threat of climate change, it is crucial that countries work together to combat this existential threat. The Arab world's efforts to reduce emissions and promote sustainable development are a shining example of the progress that can be made when leaders take bold and decisive action.

Bloomberg's recognition of the Arab world's potential to lead the fight against climate change is a call to action for all countries to work towards a more sustainable future. By embracing renewable energy and reducing our dependence on fossil fuels, we can build a cleaner, greener, and more prosperous world for future generations.

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