UAE Non-Oil Business Activity Surges to Nine-Month High in December

Image
 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 Faces Power Crisis Amid Heatwave: Scheduled Power Cuts Begin as Grid Struggles

 



As Egypt battles a relentless heatwave, the ministries of electricity and petroleum have been compelled to initiate scheduled power cuts starting Tuesday. This move comes in the wake of soaring temperatures that have strained the country's electricity grid and natural gas supplies.

Last month, during one of the hottest periods in recorded history, the government resorted to targeted power cuts in select areas of 24 out of Egypt's 27 provinces. With citizens staying indoors and relying heavily on fans and air conditioning to combat the extreme heat, power consumption surged significantly.

The unexpected power cuts have stirred shock and anger among Egyptians, especially as the government has previously boasted about its capability to export excess electricity. The situation exacerbates the daily challenges faced by the public amidst a crushing economic crisis.

Throughout last month, power cuts were implemented without a discernible pattern, causing inconvenience for citizens who were left uncertain about when and for how long they would be without electricity.

In response to growing complaints, the cabinet has now released a schedule outlining the specific areas and durations of the power cuts. The schedule is structured based on cities, further divided into districts, providing some clarity and predictability for citizens.

As the heatwave continues, Egyptians brace themselves for the impact of the power cuts while hoping for a sustainable solution to alleviate the strain on the nation's energy infrastructure.

Comments

Popular posts from this blog

Enhancing Relationships: Sheikh Khaled’s Trip to India Signals a New Phase of UAE-India Relations.

UAE's Enduring Legacy of Generosity: New Initiatives Highlight Global Humanitarian Efforts.

The UAE's AI Ambitions Get a Boost with Nvidia Chip Approval: A Game-Changer for the Gulf Region.