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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PM Modi's COP28 Visit to Dubai: A Watershed Moment for Global Climate Action

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UAE

Prime Minister Narendra Modi's visit to Dubai for the World Climate Action Summit marks a watershed moment in global efforts to address climate change. This tour, which is planned to take place from November 30 to December 1, emphasizes India's global commitment to environmental sustainability and collaborative solutions.     

The World Climate Action Summit serves as the High-Level Segment of the 28th Conference of Parties (COP28) of the United Nations Framework Convention on Climate Change (UNFCCC). The UAE will preside over COP28 from November 28 to December 12, reflecting the country's commitment to fostering global dialogue and action on climate-related issues.    

As the globe faces increasing environmental problems, this visit provides a forum for leaders to interact, exchange ideas, and contribute to a more sustainable future. The conclusions of COP28 will influence the course of international climate action, and India's participation in this summit demonstrates its commitment to being at the forefront of global efforts to address the important issue of climate change.  .

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