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,...

Egypt Takes Initiative in Sudan, Calls for Summit to Address Ongoing Conflict

 


In a bid to reclaim its historically influential role, Egypt has extended an invitation to its neighboring countries for a summit in Cairo this week. The main objective of the gathering, as stated in a presidential statement, is to explore viable solutions to end the ongoing war in Sudan. Leaders from Egypt, Libya, Chad, the Central African Republic, South Sudan, Ethiopia, and Eritrea will convene to discuss strategies for resolving the conflict between the Sudanese army and the paramilitary Rapid Support Forces.

The summit holds great significance, not only for Sudan but also for the neighboring nations affected by the conflict. It aims to address the repercussions and fallout of the war on the region and work towards establishing effective mechanisms for peaceful settlement. The statement emphasized the importance of coordination with other regional and international entities to ensure a comprehensive and sustainable resolution.

Egypt's proactive approach in spearheading this summit reflects its commitment to regional stability and its dedication to fostering peace in Sudan. By leveraging its historical influence and rallying neighboring leaders, Egypt seeks to play a pivotal role in bringing an end to the conflict and restoring peace in Sudan. The summit is anticipated to serve as a catalyst for enhanced cooperation and collaboration among the participating countries, paving the way for a brighter and more harmonious future.

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