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 UAE's Beneficial Investments in Africa: Encouraging Green Initiatives and Economic Growth

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UAE


Over the past  2 years, the United Arab Emirates has pledged a total of $97.3 billion, a major increase in investment over the previous two years in Africa. In addition to being significant, these investments have a strategic goal of promoting economic advancement throughout the continent.

The United Arab Emirates committed $52.8 billion to Africa in 2022 and $44.5 billion in 2023. These investments are made in many different areas, including as natural resources, infrastructure, and renewable energy. 

A noteworthy investment that demonstrates the UAE's keen interest in Africa is its recent $35 billion pledge to Egypt. This pledge supports the UAE's 2021 strategy to strengthen economic relations with Asian and African nations, enhancing its standing as a major investor in the area.

A renewable energy business called AMEA Power announced a $15 billion investment in green hydrogen generation in Africa during COP 28. Furthermore, this year the corporation intends to invest $1 billion in renewable projects around the continent.  

International Holding Company paid $1.1 billion to acquire a 51% share in Zambia's Mopani Copper Mines in November 2023, indicating the UAE's dedication to bolstering important African sectors.

Masdar, the state-owned renewable energy firm of the United Arab Emirates, proposed a $4.5 billion climate financing project for Africa during the Africa Climate Summit in September 2023. As part of this arrangement, AMEA Power has promised to contribute $1 billion in stock, underscoring the UAE's commitment to regional green efforts. 

The United Arab Emirates' considerable investments in Africa have had a revolutionary effect, opening doors for economic growth, advancement, and green projects throughout the continent. 


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