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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EU promises assistance to Greece in connection with the flow of refugees from Turkey

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The European Union has promised assistance to Greece - the gateway to the countries of the bloc - after Turkey began to allow Syrian refugees to cross their border and head to Europe.

The EU criticized Turkey for such actions and calls on the country to adhere to the 2016 agreement, which asks Turkey to leave migrants and refugees in its territory in exchange for EU assistance.

 European Commission President Ursula von der Leyen and European Council President Charles Michel on Tuesday visited Greece and Bulgaria, which border Turkey.  A large number of migrants gathered on its territory.

After visiting the Greek border, von der Layen said that the EU will send more resources to Greece to protect the border, as well as provide emergency assistance in the amount of about 780 million dollars.

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