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,...

G-7 Agriculture Ministers' Pledge for Sustainable Agriculture Productivity to Strengthen Global Food Security

 

The recent pledge by the agriculture ministers of the G-7 advanced economies to promote policies for sustainable agriculture productivity is a significant step towards strengthening global food security. With climate change and the crisis in Ukraine threatening food security, it is essential for countries to come together and implement policies that support sustainable agriculture and food systems. The "Miyazaki Actions" action plan, which outlines policies to be implemented by each country, including reducing greenhouse gas emissions and facilitating responsible private sector investment, will play a crucial role in achieving sustainable agriculture and food systems.

It is heartening to see that the G-7 agriculture ministers recognize the impact of the crisis in Ukraine on global food security and are deeply concerned about it. This underscores the importance of international cooperation to address food security issues. The G-7 statement and action plan will be reflected in discussions at the G-7 summit in the western Japan city of Hiroshima in May, and it is hoped that this will lead to concrete steps towards achieving sustainable agriculture and food systems.

As the world's population continues to grow, food security will become an increasingly pressing issue. It is therefore essential that countries work together to promote sustainable agriculture and strengthen global food security. The G-7 agriculture ministers' pledge to support sustainable agriculture productivity is a crucial step in this direction, and it is hoped that other countries will follow suit and adopt similar policies to ensure a food-secure future for all.



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