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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Egypt, Ethiopia, and Sudan Fail to Reach Agreement in Latest Round of Dam Negotiations

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A new round of negotiations between Egypt, Ethiopia, and Sudan has concluded in Cairo with no resolution to their years-long dispute over Ethiopia's construction of a mega-dam on the Blue Nile, posing threats to water security for the neighboring countries. The talks, which spanned two days, ended without a tangible breakthrough. The three nations have agreed to reconvene for further discussions in Addis Ababa. Earlier negotiations held in August and September also failed to yield a resolution, with Ethiopia maintaining its position.

Despite renewed efforts to resolve their ongoing dispute, Egypt, Ethiopia, and Sudan have failed to reach an agreement in their recent round of negotiations in Cairo. The core of the issue revolves around Ethiopia's construction of a massive dam on the Blue Nile, which has raised concerns about water security in the region. Previous discussions held in August and September failed to produce any significant progress, and the three nations remain at an impasse. They have tentatively scheduled the next round of talks in Addis Ababa, with little change in Ethiopia's position.

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