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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Saudi Crown Prince Mohammed bin Salman Takes Center Stage at the Summit for a New Global Financial Pact in Paris

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Macron

Saudi Crown Prince Mohammed bin Salman showcased his leadership as he led the Kingdom's delegation at the highly anticipated Summit for a New Global Financial Pact in Paris. The event, which commenced on Thursday, gathered an esteemed group of more than 300 officials, including heads of state, directors and representatives of international organizations and NGOs, private sector partners, philanthropists, climate experts, and members of civil society. This article explores the significance of the summit and highlights the Crown Prince's prominent role in shaping global financial discussions.

Driving Global Collaboration:

The Summit for a New Global Financial Pact served as a crucial platform for fostering collaboration and dialogue on pressing global financial challenges. With an impressive lineup of attendees from diverse sectors, the event provided an opportunity for leaders to share perspectives, exchange ideas, and work towards forging a unified approach to financial stability and sustainability.

Crown Prince Mohammed bin Salman's Leading Role:

As the head of the Saudi delegation, Crown Prince Mohammed bin Salman showcased his commitment to addressing global financial concerns and positioning Saudi Arabia as an influential player on the international stage. His presence underscored the Kingdom's dedication to advancing economic cooperation, exploring innovative solutions, and playing an active role in shaping the future of global finance.

Engaging Key Stakeholders:

The summit's inclusive nature brought together an array of influential stakeholders, ensuring a comprehensive and diverse range of perspectives. The participation of heads of state, international organizations, NGOs, and representatives from the private sector and civil society enabled fruitful discussions, fostering a holistic approach to addressing complex financial challenges.

A Platform for Collaboration and Solutions:

With a focus on financial sustainability, climate action, and inclusive growth, the Summit for a New Global Financial Pact aimed to formulate strategies and frameworks that promote economic stability and social progress. By fostering collaboration between governments, organizations, and individuals, the summit sought to drive tangible outcomes and pave the way for a more resilient and equitable global financial landscape.

Conclusion:

The Summit for a New Global Financial Pact in Paris provided a critical platform for leaders to engage in meaningful dialogue and collaboration on pressing global financial issues. Crown Prince Mohammed bin Salman's leadership and the participation of a diverse group of stakeholders underscored the importance of collective efforts in shaping a sustainable and inclusive future. As the summit concluded, the focus now shifts to translating discussions into actionable plans and initiatives that will pave the way for a new era of global financial cooperation and prosperity.

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