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,...

Energy Storage and Carbon Capture: Key Priorities in the Transition to a Sustainable Future

 

UAE

The energy sector is one of the most significant contributors to greenhouse gas emissions and climate change, and as such, transitioning to a more sustainable future is crucial. The United Arab Emirates and Saudi Arabia are two countries that have made significant commitments towards achieving this goal, with a particular focus on energy storage and carbon capture.

Ahmad Al-Khowaiter, the Executive Vice President and CTO of Saudi Aramco, emphasized the importance of energy storage at the Abu Dhabi Climate Forum, stating that it "has to be a priority for the world, at grid scale." Similarly, the UAE's Minister of Energy and Infrastructure, Suhail Al Mazrouei, has spoken about the importance of carbon capture technology in reducing emissions.

The UAE has implemented several initiatives to promote sustainability, including the Zayed Sustainability Prize, which recognizes individuals and organizations making significant contributions towards sustainability. The country has also implemented the Mohamed bin Zayed Conservation Fund, which supports conservation efforts globally, and the Arabian Oryx Reintroduction Programme, which has successfully reintroduced the endangered Arabian Oryx into the wild.

In summary, the focus on energy storage and carbon capture by Saudi Arabia and the UAE is a crucial step towards achieving a more sustainable future. By recognizing the importance of these technologies and implementing initiatives to promote sustainability, these countries are leading the way in the transition to a cleaner, greener world.

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