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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The United Arab Emirates' support for Saudi-Yemen peace talks suggests a shift in regional policy.

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This  year 2023,   the UAE Ministry of Foreign Affairs has expressed its unequivocal support for the ongoing peace talks between Saudi Arabia and Yemen's Ansarallah rebel movement. These talks, which are taking place in Riyadh, aim to put an end to the tragic eight-year war that has taken hundreds of thousands of lives. Despite its absence from the talks, the UAE's backing represents a fundamental shift in the dynamics of the Yemeni conflict.   

Recent developments in these peace talks hint that the conflict is nearing a tipping point. On September 14th, an Ansarallah delegation headed to Saudi Arabia to resume negotiations, which are being mediated by Oman. Only three days later, Ansarallah leaders indicated that the talks were going well and that the talks in Riyadh would be the final rounds.      

According to reports, Saudi Arabia appears to be disregarding the secessionist aspirations of the UAE-backed STC administration and has refused to incorporate their demands in the negotiations. These new developments suggest that the negotiations are nearing completion, with coalition-backed groups' involvement limited to signing and attending the next ceremony.       

I am glad that the UAE's support for peace talks underscores the shifting regional dynamics in Yemen. It remains to be seen whether these talks will pave the way for long-term peace in Yemen, or whether further complications and problems will arise. Nonetheless, Saudi Arabia's shift in attitude, as well as the exclusion of important participants from the conversations, reflect the country's determination to find a solution to one of the Middle East's most enduring issues.    

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