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,...

White House Releases US Middle East Settlement Plan


A new United States Middle East settlement plan was published Tuesday at the White House website.
 The document, entitled “Peace for Prosperity. A Vision on How to Improve the Life of Palestinians and Israelis,” is over 180 pages long.  “This vision is the most realistic solution to the problem that has plagued the region for too long. It creates the path to prosperity, security, and dignity of all participants of the conflict,” the White House website says.

 The plan, which the US administration calls the "deal of the century," consists of two parts: economic and political.  Economic aspects were announced back last summer, and the details of the political component became known only now.  The plan is based on the mutual recognition of the two states.  Particular attention is also paid to the status of Jerusalem, border issues, security guarantees, a free trade zone, prisoners and refugees, and rules for further negotiations.

 Among other things, the United States proposes to inextricably link Palestinian territory consisting of Gaza and the West Bank, with high-speed transport links, and recognize East Jerusalem as the capital of a Palestinian state.  At the same time, US President Donald Trump, speaking on Tuesday at the White House along with Israeli Prime Minister Benjamin Netanyahu, called all of Jerusalem the "indivisible capital" of Israel and announced the US intention to recognize Jewish settlements as Israeli territory.

 As the conditions of the peace process, the American president called the Palestinian authorities’s refusal to support the Hamas radical movement in Gaza, as well as methods of armed struggle.  At the same time, Washington insists on a four-year “freeze” program for the construction of Jewish settlements on Palestinian territory.  In support of the settlement, the United States is offering $ 50 billion in investment.

 Netanyahu supported Trump's proposal and expressed his readiness to immediately begin peace negotiations with the Palestinians.  Palestinian leader Mahmoud Abbas rejected the proposals of the US president and called them a conspiracy that would not work, and Hamas said the plan was not worth the ink spent on it.

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