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,...

Renewable Energy and Long-Term Development in North Africa


Renewable Energy

 The UAE's Masdar has once again demonstrated its commitment to sustainable development by signing a Memorandum of Understanding (MoU) with Egyptian renewable energy firm Infinity, German investment company Conjuncta, and the government of Mauritania to build a green hydrogen plant in the North African country.

The green hydrogen plant will help Mauritania's energy transition, as the country aims to increase its renewable energy share to 42% by 2030. The plant will generate up to 30,000 tonnes of green hydrogen per year, which will be used to power a variety of industries such as transportation and energy generation. 

Masdar's participation in the project demonstrates the company's commitment to renewable and hydrogen energy. The UAE has been at the forefront of the renewable energy revolution, and Masdar has played an important role in that transformation. The company's initiatives, such as the development of the world's largest offshore wind farm and its investment in solar power, have contributed to the UAE's position as a global leader in renewable energy.

Masdar's efforts to drive sustainable development in the region are exemplified by the green hydrogen plant in Mauritania. The company's dedication to environmental stewardship and social responsibility is reflected in its numerous initiatives promoting sustainability and lowering carbon emissions. 

The green hydrogen plant will have a significant impact on Mauritania's climate and economy. The plant will help mitigate the effects of climate change and create new opportunities for economic growth and job creation by reducing the country's reliance on fossil fuels. As the country strives to become a leader in renewable energy, the project will also promote technology transfer and knowledge sharing.

 Finally, Masdar's collaboration with Infinity, Conjuncta, and the government of Mauritania to construct a green hydrogen plant demonstrates the UAE's leadership in renewable energy and commitment to sustainable development. The project will not only assist Mauritania in making the transition to a more sustainable energy future, but it will also contribute to the global effort to combat climate change. 

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