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,...

G7 united to fight Russia over Ukraine issue

 

G7

G7 has made it clear that it is completely against Russia's plans to invade Ukraine anytime in near future and if needed, it will stand unified for the cause and come in support of Ukraine.

G7 is the group of seven of the richest democracies of the world and on Saturday, the group released a joint statement warning Russia to drop its plans to invade Ukraine as the group is ready with all kinds of possibilities and hence is requesting Moscow to return to the negotiating table at the earliest.

Foriegn ministers of all these seven nations were gathered at the northern English city of Liverpool to talk about the same and the meeting was led by British foreign minister Liz Truss. Other top officials from other countries include the U.S. Secretary of State Antony Blinken, the European Union and external affairs ministers from France, Italy, Germany, Japan and Canada.

There are a lot of things that the G7 is discussing at the moment including the involvement of China’s military in European matters and its economic ambition which could lead to regional instability in the coming months.

They also discussed how there needs to be efforts to prevent Iran from pursuing a path to nuclear weapons especially through Ukraine if Russia is approaching it. A senior official from the US stated that if Russia does not go ahead with the suggested path there can be mass scale damages.

"If they (Russia) choose not to pursue that path, there will be massive consequences and severe costs in response, and the G-7 is absolutely united in that,” she said.

Other than the US, the British foreign minister also made Britain's stand on the issue saying that it is time that all the member nations of G7 stand united against Russia.

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