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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Hungarian PM boasts his friendship with Russia, criticizes Ukrainian president

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 Prime Minister of Hungry, Viktor Orban slammed Ukrainian counterpart for being part of those who were against him in the recently concluded Hungarian elections.

On Sunday, Orban won the elections by a huge margin and established himself as one of the strongest nationalist leaders in the country. His party, Fidesz party, managed to have a comfortable edge over the opposition United for Hungary alliance.

It was anticipated that it would be a close affair in the country given the latest rounds of protests against the leader and the happenings in Ukraine but contrary to those theories, his party won the elections with full power.


Hungarian PM

 

Post his win confirmation, the Hungarian leader made a 10-minute speech addressing his supporters where he stressed that despite an “overwhelming force” against him, he managed to stand at the top. He said that his opponents included Zelenskiy.

Adding to his slamming session, he went on to stress on Hungry and Russia’s friendship. Orban said, “The left at home, the international left all around, the Brussels bureaucrats, the [George] Soros empire with all its money, the international mainstream media, and in the end, even the Ukrainian president.”

It was thought that him boasting his ties with Russian president Valdimir Putin may go against him in the coming elections but nothing on those lines happened. Russia is extremely important to Hungary given the fact that it gets nearly 85 percent of its gas and 64 percent of its oil from Moscow. 

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