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,...

Russia, France Held Positive Talks About Ukraine Border Crisis

 

Ukraine Border Crisis

The President of France Emmanuel Macron and his Russian counterpart Vladimir Putin discussed the Ukraine border situation and concerns over security in Europe.

During a telephonic call on Monday, both the leaders welcomed the “positive progress” made in talks within the Normandy Format. The Normandy Format is a four-way conversation between representatives from Ukraine, Russia, Germany, and France that has been trying to establish peace in eastern Ukraine since 2014.

Amid growing concerns over a potential Russian invasion of Ukraine, the French presidency said that the telephonic conversation was part of Macron's efforts to de-escalate tensions. Reportedly, Macron has a long-standing invitation from Putin to visit Russia in the coming days. However, the date has not been set yet. This is Macron’s second call with Putin since Friday. Macron has been affirming diplomatic ways of solving the highly sensitive border crisis that will have its impact across Europe.

Earlier, Putin expressed concerns over the United States and North Atlantic Treaty Organization's responses to Moscow's security proposals. He made it clear that the responses by the US and NATO did not address Russia's main security concerns over Ukraine.

Last week, the Joe Biden administration handed a written response to Russia outlining Washington’s position on the crisis in Ukraine. Putin told Macron that Moscow would thoroughly examine the written responses before taking any action.

According to Republic World, Macron also briefed Vladimir Putin on Paris's approaches to the pan-European track ahead of France's presidency of the EU (European Union) Council in 2022.

Russia-Ukraine relations

Reportedly, Ukraine is suffering ever since Russia invaded Crimea in 2014. Russia conquered Crimea in February and March 2014. Putin’s ambition was to hold Ukraine tight to Russia economically and politically. Putin deployed 30,000 troops without insignia to seize control of the regional infrastructure. Ukraine was earlier part of the Soviet Union. The country collapsed at the end of the Cold War in 1991. 

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