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,...

China starts largest-ever military drills around Taiwan after Nancy Pelosi's visit

 

Nancy Pelosi

China started its largest ever military drills around Taiwan on Thursday after United States House Speaker Nancy Pelosi left Taiwan on Wednesday.

Pelosi’s visit to Taiwan defied a series of stark threats from China, which views the self-ruled island as its territory. After she left Taiwan, the Chinese authorities vowed "punishment" and announced military drills in the seas around Taiwan -- some of the world's busiest and most important waterways. The exercises will take place in multiple zones around the Chinese-claimed island, Taiwan.

The Chinese authorities accused the United States of “violating China's sovereignty under the guise of so-called democracy.” Chinese Foreign Minister Wang Yi also said, "Those who play with fire will not come to a good end and those who offend China will be punished."

China vs Taiwan

According to media reports, "Six major areas around the island have been selected for this actual combat exercise and during this period, relevant ships and aircraft should not enter the relevant waters and airspaces."

When the Chinese army began the exercise, they fired projectiles into the Taiwan Strait. Many small projectiles were fired from the proximity of nearby military installations. The military drills started around 0400 GMT. Subsequently, the Chinese authorities also announced "long-range live ammunition firing" in areas surrounding Taiwan.

"This is the first time the PLA will launch live long-range artillery across" the Taiwan Strait, said Beijing's nationalist state-run tabloid Global Times, citing the Chinese military's formal name, the People's Liberation Army (PLA).

On Wednesday, Taiwan's Maritime and Port Bureau issued warnings to ships to avoid the areas being used for the Chinese drills. Hong Kong carrier Cathay Pacific also ordered its aircraft to avoid those areas. Japan also expressed concern to China over the areas covered by the military drills.

The Taiwanese government reportedly said that many ministries suffered cyber-attacks in recent days. On Wednesday, the Chinese authorities reportedly detained a suspected Taiwanese separatist in the coastal Zhejiang province in China on suspicion of endangering national security. 

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