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,...

Joe Biden grabs the opportunity to make the next moves as he holds “Democracy Summit”

 

Joe Biden

The US (United States) President Joe Biden hosts representatives of more than 100 countries for a democracy summit on Thursday and Friday. Thursday’s event was held through video calls because of the covid-19. However, Russia and China, which Biden sees as the powerful autocracies, were pointedly left out.

As per the report by CNN, Joe Biden’s democracy summit was designed as a show of force against authoritarian regimes. The decision to hold the summit was taken in the hope to make a pro-democracy argument and persuade his allies to take a tougher line against authoritarian regimes countries like Russia and China. The White House also said that the democracy summit is not meant as a challenge to any single country or leader.

Joe Biden’s move

Joe Biden recently also confronted surging tensions with Russia and China this week. He told the Russian leader that one nation cannot tell another nation to change its policy. He held a video call with the President of Russia, Vladimir Putin, in which he said that the US will impose economic penalties if Moscow escalates military action in Ukraine. Recently, the US White House also announced that US diplomats would boycott the 2022 Winter Olympic Games in Beijing, China. However, the Chinese officials said that the boycott is only based on rumors. Later on, Australia, Britain, and Canada also joined the diplomatic boycott. But Russia joined China in criticizing the decision of the diplomatic boycott.

The United States recent moves

When the US announced that no officials would attend the upcoming winter Olympics in Beijing, the officials were hesitant to boycott. The officials thought of Jimmy Carter's move in 1980. At that time, American athletes were not allowed to participate in the Moscow games at the height of the Cold War. 

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.