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,...

Bridging Gaps: A New Era of Diplomacy Emerges in Grand Ethiopian Renaissance Dam Talks

 

Sudan

The recent meeting between delegations from Sudan and Ethiopia in Cairo marks a significant shift in the dynamics surrounding the disputed Grand Ethiopian Renaissance Dam. This latest round of talks not only signifies a thaw in relations between Cairo and Addis Ababa but also underscores the potential for collaborative solutions in a region plagued by tension and conflict for years.

For a considerable period, the construction and filling of the Grand Ethiopian Renaissance Dam had been a source of acrimony between the three nations. Threats and heated exchanges marred the discourse, raising concerns about the project's impact on Egypt's vital water supply from the Nile. However, this fresh round of negotiations suggests a willingness to embrace diplomacy over confrontation.

The Egyptian President, Abdel Fattah El Sisi, and Ethiopian Prime Minister Abiy Ahmed's meeting in July at the Sudan Neighbouring States summit served as a pivotal moment. The summit, hosted by Cairo, aimed to address the ongoing conflict in Sudan. Remarkably, the summit also became a platform for Egypt and Ethiopia to explore avenues of cooperation. The subsequent joint statement, announcing the resumption of dam negotiations, indicated a shared commitment to finding common ground.

These talks hold even greater significance as they mark the first official negotiations between the concerned parties since 2021. The previous round of talks, sponsored by the African Union, had collapsed without yielding a binding agreement. The exchange had been characterized by sharp criticism and mistrust from both sides, revealing the complexity of the issues at hand.

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