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,...

Japan & Russia Sign Fishing Deal Despite Ukraine Conflicts

 

Ukraine Conflicts

Despite worsening tensions over the Ukraine crisis, Japan and Russia have signed a contract on Tokyo's fishing quota for salmon & trout grown in Russian rivers, according to Japan's fisheries agency.

 Fishermen in Japan's northern areas around disputed islands have had their livelihoods affected by the worsening of relations between the two countries.

However, Japan & Russia agreed on a quota for salmon and trout in Japan's very own economic zone of 2,050 tons for this year, which is the same as last year.

 

Impact of Russia-Ukraine Conflict

The two governments began talks about Japan's salmon and trout fishing quotas on 11st April. Although Tokyo, along with theUS and other European countries, has increased sanctions against Moscow to end the Ukraine conflict.

 In Hokkaido, the net fishing restriction for salmon and trout was lifted on 10th April. However, fishingis still not permitted this year because of the ongoing negotiations.

 Japan has enacted a number of restrictions against Russia since the invasion of Ukraine, including expelling many ambassadors and terminating Russia's most-favored-nation status.

 In reaction to Tokyo's sanctions, Russia withdrew from delayed peace talks with Japan and discontinued collaborative economic initiatives, referring to its efforts in Ukraine as a "special operation."

 

The Russia-Japan Fishing Deal

As per the Japan's fisheries agency, Japan would pay Russia costs ranging from 200 million yen ($1.56 million) to 300 million yen ($2.33 million), based on the total fishing quantity.

The annual fishery negotiations began this month, despite rising conflicts between Tokyo and Moscow.


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