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-Ghana Partnership: A $30 Million Investment in Nature-Based Solutions.

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The $30 million investment by the UAE towards a partnership with Ghana is a remarkable achievement for the world in pursuit of climate change tackling by use of nature based solutions. This initiative which addresses the biodiversity, reforestation and agroecology of the region looks forward to providing environmental and community benefits in a sustainable manner. The investment on sustainable plantation agriculture and forest conservation in the Uae shows the fulfillment of the promises that were made during Cop28 especially the 2030 Definitional consensus of the Uae. There are benefits too for Ghana, whose forests have been confrontational to the composition of the climate as well as deforestation, in that forest management and improvement of people’s livelihoods will be tackled without completely disregard their forests.

The most remarkable aspect of this partnership is its attention to gender equality and youth participation. This initiative goes beyond the environmental aspect by seeking to involve the communities, especially the marginalized ones. It is essential in addressing social issues as well. especially in ensuring that the active elements in building a desirable sustainable future who are always at the risk of being destroyed by the vices of climate change are given space to operate. It is time that this model, which seeks to address both conservation and development, is used to guide all future partnerships.

While dealing with the climate change impacts such as increased temperatures, irregular rainfall and land degradation among others, Ghana welcomes the investment from the UAE as a relief in this situation. In supporting Ghana’s REDD+ process and afforestation initiatives, this partnership exemplifies how financial assistance from developed countries can work in combatting the global climate change crisis. The cooperation between UAE and Ghana is a great example of how international partnerships can work to create impactful outcomes on environmental conservation and enhancing people’s livelihoods.

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