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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Ukraine President Discusses with IMF Managing Director About Post-War Rehabilitation in the Country

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Ukraine

Ukrainian President Volodymyr Zelensky stated on Sunday that he discussed Ukraine's financial stability and post-war reconstruction with IMF Managing Director Kristalina Georgieva.

 "The topic of ensuring Ukraine's financial stability and plans for post-war reconstruction were addressed with IMF Managing Director Georgieva. We have clear strategies in place for the time being, and a vision of the future. I am confident that the IMF's and Ukraine's partnership will proceed to be productive "In a tweet, Zelenskiy stated.

 Later that day, Georgieva verified the conversation in a tweet. "Thank you for the extremely good call today," she tweeted, addressing Zelenskiy's twitter handle. Support is "crucial" to "laying the basis for reconstructing a modern competitive #Ukraine," she said.

 Denys Shmyhal, Ukraine's prime minister, stated earlier this week that he will visit meetings of the IMF and the World Bank this week in Washington, where he will seek extra financial support for Ukraine.

 Ukraine has submitted a questionnaire that will be used by the European Union to determine Kyiv's membership. President Volodymyr Zelenskiy's deputy head of staff, Ihor Zhovkva, remarked

 During her visit to Kyiv on April 8th,European Commission President Ursula von der Leyen gave the questionnaire to Zelenskiy, promising a faster start to Ukraine's bid to join the EU following Russia's invasion of the country.

 "Today, I can tell that the Ukrainian side has completed the paper," Zhovkva addressed the Ukrainian national TV on Sunday evening.

 He went on to say that the European Commission would have to make a proposal on Ukraine's fulfillment with the requisite membership criteria.

 "We anticipate a good recommendation... and then the ball will be in the EU member states' court."

Ukraine, according to Zhovkva, expects to be designated as a prospective country for EU membership during a scheduled European Council meeting in June.

 According to the European Council's website, the meeting will take place on June 23-24.

 "Then we'll have to start talking about joining the EU. And after those talks are completed, we can begin discussing Ukraine's complete affiliation in the EU, "Zhovkva remarked.

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