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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Using Faith to Promote Environmental Stewardship: Cop28's Climate Action Commitment

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Cop28

Cop28 President-designate Dr. Sultan Al Jaber met constructively with Pope Francis at the Vatican in a key step towards reconciling faith and climate action. They discussed the critical role of religious leaders in furthering the global climate agenda, emphasising the urgent need for quick action on climate-related concerns. The Cop28 UN climate meeting, which will take place in Dubai this November, has arisen as a topic of concern.

Dr. Al Jaber expressed genuine gratitude for the Vatican's ongoing support for climate change advocacy. He also invited Pope Francis to join in the World Climate Action Summit, a key event during Cop28.

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