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,...
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UAE Leads the Way in Decarbonization Technologies at ClimateTech Forum

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Climate
 

On May 10-11, some of the world's most prominent innovators in decarbonization technologies gathered in Abu Dhabi for the UAE ClimateTech forum. The forum aimed to foster collaboration between experts and industry leaders to transform, decarbonize and future-proof industries for a net-zero world.

The forum included discussions on critical topics such as hydrogen production, energy storage, carbon capture, utilization and storage (CCUS), and sustainable transport. It brought together representatives from the UAE government, international companies, research institutions, and universities.

The UAE is leading the way in decarbonization technologies, with the Abu Dhabi National Oil Company (ADNOC) playing a significant role in driving the nation's efforts towards a sustainable future. In 2020, ADNOC announced its plans to reduce its greenhouse gas emissions by 25% by 2030, a commitment that aligns with the UAE's vision for a sustainable future.

At the ClimateTech forum, ADNOC showcased its initiatives and collaborations, including its partnership with Abu Dhabi Future Energy Company (Masdar) to explore new hydrogen technologies. The forum demonstrated the importance of collaboration in the fight against climate change and the role of the UAE in leading the way towards a net-zero future.

The UAE is taking significant steps to become a leader in the green energy transition, with projects such as the world's largest single-site solar power plant and the world's first commercial carbon capture utilization and storage facility. The UAE ClimateTech forum is just one example of how the nation is driving innovation in decarbonization technologies and demonstrating its commitment to a sustainable future.

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