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,...

If China breaches LAC again, Russia won’t help India, says US Deputy NSA

 The United States (US) on Thursday said that there will be consequences for countries actively attempting to evade US sanctions against Russia for its invasion of Ukraine. The US also said it would not like to see any country engaging in financial transactions with the Russian central bank.

The US said it would not like to see a "rapid" acceleration in India's import of energy and other commodities from Russia because of the ongoing war. United States Deputy National Security Advisor (NSA) Daleep Singh, the chief architect of the sanctions imposed on Russia, said that India should not expect Russia to come to its defence in case China violates the Line of Actual Control (LAC) while referring to the "no limits" partnership between Russia and China.

He further said, “We want the Quad (Quadrilateral Security Dialogue) to come together and voice your shared concerns about the developments in Ukraine and the implications.” 

Russia won’t help India

Singh said India's current import of Russian energy does not violate any of the US sanctions. However, the US would like to see its partners find ways to reduce their reliance on an "unreliable supplier". Singh also said that the US stands ready to help India in meeting its requirement for energy and defence equipment.

Russian Foreign Minister Sergey Lavrov arrived in Delhi, India, on Thursday on a two-day visit on the backdrop of increasing disquiet among Western powers over India not criticising Russia for its attack on Ukraine. He also held talks with External Affairs Minister S Jaishankar on Friday. He also discussed the rouble-rupee payment mechanism for bilateral trade between Moscow and Delhi, including New Delhi's purchase of Russian Oil.

In 2021, Russia began deploying big numbers of troops close to Ukraine's borders. Russia invaded Ukraine on February 24, 2022. Reportedly, Ukraine had received additional security pledges from the United States. 

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