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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UAE to add 6.34GW 'green' power capacity reflects UAE's commitment to enhancing the sustainability of its energy resources

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According  to experts" the United Arab Emirates is making continuous progress in the renewable energy sector and the country is expected to add 6.34 gigawatts to its power capacity from green projects between 2024 and 2030, through 12 planned project " 

Over the years UAE ranks advanced among regional countries in terms of clean and renewable energy production capacity, said Ryan McPherson, Regional Director (Middle East, Africa, Russia & CIS) for the Energy Industries Council (EIC) 

Global climate-focused website Eco Discussion reports the UAE has been fostering green finance through different policies and frameworks. It has established the Green Bonds and Sukuk Framework to encourage investments in green projects, demonstrating a blend of innovation and traditional financial instruments.

In a Wam interview  Ryan McPherson, Regional Director (Middle East, Africa, Russia & CIS) for the Energy Industries Council (EIC) said  

UAE's commitment to enhancing the sustainability of its energy resources and reducing reliance on fossil fuels, noting that the country has been investing heavily for decades in new technologies and developing infrastructure to enhance its leading position in the field of renewable energy, which is part of its vision for a greener and more sustainable future.   

He pointed out that since the opening of the council's regional office in Dubai, it has significantly contributed to expanding the council's activities in the Middle East and Africa region to serve the energy sector and assist companies operating in it to expand their activities

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