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,...

Bolivian Prosecutor's Office issues arrest order for Evo Morales


The prosecutor's office of Bolivia issued on Wednesday an arrest warrant for ex-President Evo Morales.  A photograph of the document was posted on Twitter by the Minister of the Interior of the South American Republic, Arturo Murillo.

 According to the text of the document, the decision to issue a warrant was taken as part of a criminal investigation into incitement to rebellion, terrorism and the financing of terrorism.  According to the prosecutor’s office, this measure is necessary for the former head of state to “appear for questioning and testify” in the case.  The document also states that the detention of Morales can be carried out by "any competent civil servant."

 Presidential elections were held in Bolivia on October 20.  According to the Supreme Electoral Court, Morales, the current head of state, received the majority of the votes.  His main rival, Carlos Mesa, said he did not recognize the opponent’s victory in the first round.

 After three weeks of protests, Morales resigned, describing the situation as a coup.  His example was followed by Vice President Alvaro Garcia Linera and speakers from both houses of parliament, who, according to the constitution, were next in line to accept the powers of the head of state.  Opposition's second vice-speaker, Senate House of Representatives, Agnes, announced that she will assume the duties of the president until a new election, and has appointed her own cabinet.  On December 12, Morales, who, after retiring, received asylum in Mexico, arrived in Buenos Aires, where he was granted refugee status.

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