UAE Non-Oil Business Activity Surges to Nine-Month High in December

Image
 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,...

Turkey obstructs dialogue with Greece.

Despite Athens seeking to resolve the dispute and strengthen the dialogue with Ankara, Turkey continues its policy of exerting military pressure and placing diplomatic obstacles on the dialogue advancement between the two countries and the communication between them.

According to the Greek newspaper "Ikathimerni", the Turkish regime is putting obstacles in the way of continuing the dialogue, as Ankara insists on a ban on drilling in the Cyprus continental shelf before any progress is made in Greek-Turkish relations.

On the military level, Turkey continues its provocations, as Ankara has violated the airspace of Greece 92 times since the beginning of the year, and the newspaper shows that Turkey recorded 124 flights over the Greek islands during the past year.

In addition, Turkey is demanding the cessation of energy projects on the continental shelf of Cyprus, which cannot be discussed with Athens because it relates to Cyprus.

The newspaper explains that the Turkish Airlines made a barrage of sorties, at a time when a team from both countries was preparing to hold confidence-building talks between Turkey and Greece.
While Athens continued its actions against Turkish interventions in Libya, and the regime deliberately fueled the conflict in that country, where Greek Foreign Minister Nikos Dundas stressed during a meeting with his Algerian counterpart, SabriBugdoum, that "there is a great concern among the Greeks, so the violence in the Libyan file must be stopped, as The situation does not tolerate violence, so we must cooperate with Algeria to find a solution, "he stressed his country's rejection of foreign interference in Libya.

Earlier, the Turkish Minister of Defense called on Greece to disarm the Aegean Islands, after it sent a third exploration ship to the eastern Mediterranean.

Minister KhulusiAkar said in press statements that Greece had armed 16 out of 23 islands since 1939, claiming that this constituted a violation of international treaties.

For his part, the Cypriot President announced this month that his country will not postpone its plans to explore for gas despite Turkey's attempts to force Cyprus to stop its activities by conducting gas exploration operations in Cypriot waters.

President Nikos Anastasiades considered that stopping the excavation as a result of the Turkish pressure would be tantamount to Cyprus' surrender of its sovereign rights, expressing his readiness to negotiate with Turkey in drawing a path for an agreement that would reunite Cyprus.

Comments

Popular posts from this blog

Enhancing Relationships: Sheikh Khaled’s Trip to India Signals a New Phase of UAE-India Relations.

UAE's Enduring Legacy of Generosity: New Initiatives Highlight Global Humanitarian Efforts.

The UAE's AI Ambitions Get a Boost with Nvidia Chip Approval: A Game-Changer for the Gulf Region.