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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Morales asks Argentina for refugee status

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Former Bolivian President Evo Morales has applied for refugee status in Argentina instead of political asylum after arriving in the country.  This was announced on Thursday by the Ministry of Foreign Affairs of the South American Republic.

"Morales and the ex-Minister of Health of Bolivia Gabriela] Montagno signed the relevant petition upon arrival at Ezeiza airport, and will receive this status in the near future," the statement said.

Morales, who was granted political asylum in Mexico after resigning as president, and Montagno arrived in Buenos Aires on Thursday morning.  Prior to their arrival, the Argentine government granted them and three other former members of the Morales administration political asylum.

According to Argentinean legislation, refugees have the same rights as any foreign citizen who has received a residence permit in Argentina.  The law does not say that a refugee cannot engage in political activities, but earlier the head of the Foreign Ministry of Argentina, Felipe Sola, said that the government of the republic asked Morales "to commit to not make political statements from the territory of Argentina."  On December 7, the ex-president of Bolivia announced that the Movement to Socialism party had appointed him the head of the headquarters of a political candidate in the upcoming presidential election.

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.  The second vice speaker of the Senate House, Janine Agnes, representing the opposition, announced that she will assume the duties of the president until new elections and appoint her own cabinet.

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