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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Joe Biden And South Korean President Yoon Suk-yeol Discuss North Korea's Nuclear "Threat"

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North Korea

The United States President Joe Biden and newly sworn-in South Korean President Yoon Suk-yeol have discussed North Korea’s nuclear threat. They said on Saturday that they will consider stepping up joint military exercises in response to the "threat" from North Korea.

They said in a statement that "considering the evolving threat posed by North Korea, we agree to initiate discussions on military exercises.” 

President Joe Biden’s trip to Asia

President Joe Biden opened his trip to Asia as president on Friday. On Saturday, Biden began his day by paying respects at Seoul National Cemetery, where soldiers were killed defending South Korea. According to a US official, Biden's main focus was establishing "a strong personal relationship" with Yoon.

After meeting in Seoul, the two leaders decided to expand the scope and scale of combined military exercises and training on and around the Korean peninsula.

Biden also wants to soothe the tense relations between South Korea and Japan. He said it was important to have a trilateral relationship between Washington, Seoul and Tokyo.

Discussion on the Covid-19 outbreak in North Korea

The two leaders also expressed concern about the Covid-19 outbreak in North Korea. The two leaders said that they are willing to work with the international community to provide assistance to North Korea to fight the Covid-19 virus.

The North Korean authorities announced the first case of Covid-19 last week. Reportedly, North Korean citizens are vulnerable to Covid-19 due to the lack of a vaccination programme and poor healthcare facilities.

Biden said that the US offered vaccines to North Korea but has not received a response. Biden also said that if North Korean leader Kim Jong Un is ‘sincere’ then he would agree to meet him.

Meanwhile, there are reports that Kim Jong Un may prepare for a nuclear test during Biden’s visit. Kim has conducted a series of ballistic missile tests since the beginning of this year.

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