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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Chile extends new constitution deadline to July

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 Chile extended the new constitution deadline by three months on Tuesday. An assembly in Chile charged with drawing up Chile’s new constitution extended the deadline, by which the first draft must be ready by July.

The members of the assembly addressed environmental and social issues while extending the deadline. The extension received 114 votes in favour while 8 against. However, 25 abstained. Consequently, the assembly approved a one-time extension and set the new date for the draft constitution to July 5.

Maria Elisa Quinteros, president of the constituentassembly, said, “We have a long constituent process that has to be done in a short time.”

Chile extends new constitution

Reportedly, if the constituent assembly is unable to draft a new constitution by the deadline of July 5, the current constitution that dates back to the dictatorship of Augusto Pinochet will remain in effect.

Chile’s constituent assembly has begun debating motions for a new constitution in February. The new constitution will replace the dictatorship of Augusto Pinochet. Quinteros said that 84 articles have been approved so far.

According to Reuters, there were originally more than 1,200 proposals. However, some proposals were rejected in committees, others were removed, and several merged. The environmental commission had 40 proposals, but only one has been approved. The assembly will discuss more edgy motions and vote on them over upcoming sessions. Any proposal will need approval by two-thirds of delegates, some 103 votes, to make it to the final draft.

Francisco Zambrano, a professor of constitutional law at the University of Chile, said drafting a new constitution creates “uncertainty and institutional instability.”

 An article guaranteeing women’s reproductive rights, including abortion, was approved last week. Other proposals of themes include animal rights, feminist education, protection of the natural world, and the legalisation of cannabis. The proposals will be debated in the coming months. 

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