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,...

.UAE and Germany Partner Up to Drive Decarbonization and Ensure Energy Security

 


The United Arab Emirates (UAE) and Germany have recently announced a new partnership aimed at promoting decarbonization and energy security. The partnership comes at a time when both countries are actively pursuing ambitious clean energy goals and seeking ways to address the global climate crisis.

The agreement, which was signed during the recent Abu Dhabi Sustainability Week, outlines several areas of cooperation between the UAE and Germany. These include the development of renewable energy projects, energy efficiency programs, and sustainable urban planning initiatives.

One key focus of the partnership will be the development of hydrogen technologies, which are seen as a crucial component of the global transition to a low-carbon economy. Both the UAE and Germany have identified hydrogen as a key area of strategic importance, and both countries have set ambitious targets for the deployment of hydrogen technologies in the coming years.

In addition to hydrogen, the partnership will also focus on the development of other renewable energy technologies, such as solar and wind power. The UAE has already made significant investments in these areas, including the construction of the world's largest solar power plant in Abu Dhabi. Germany, meanwhile, is a global leader in renewable energy deployment and has set a target of achieving 65% renewable energy by 2030.

Another area of cooperation outlined in the agreement is energy efficiency. Both countries have identified energy efficiency as a key component of their efforts to reduce greenhouse gas emissions and promote sustainable development. The partnership will focus on developing new technologies and policies to improve energy efficiency in buildings, transportation, and industry.

Finally, the partnership will explore ways to promote sustainable urban planning, with a particular emphasis on smart cities. Both the UAE and Germany have made significant investments in smart city technologies, which use data and technology to improve urban sustainability and quality of life.

Overall, the partnership between the UAE and Germany represents an important step forward in the global effort to address the climate crisis and promote sustainable development. By working together to develop and deploy clean energy technologies, both countries can accelerate the transition to a low-carbon economy and create new opportunities for economic growth and job creation.

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