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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'Treat me like an engineer': Twitter CEO Parag Agrawal tells Elon Musk

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Elon Musk

Twitter CEO, Parag Agrawal, and Tesla CEO, Elon Musk, bonded on over-engineering and solving technical design problems, according to a text exchange shared between the two tech leaders.

During their conversation, Tesla's CEO said that he doesn't want to be the boss of anyone. Subsequently, Agrawal replied that the Tesla CEO should treat him like an engineer and not like the CEO of Twitter.

As per a TechCrunch report, the conversation between the two tech leaders dates back to April this year. Musk reportedly told Agrawal, "I hate doing mgmt stuff. I don't think I should be the boss of anyone. However, I love helping solve technical/product design problems.” To this, Agrawal replied, "Treat me like an engineer instead of a CEO of Twitter.”

The leaked chats have gone viral on social media at a time when Twitter and Musk are all set to start their legal battle in the Delaware Court of Chancery in the United States (US) on October 17.

Earlier this year, Musk made a hostile bid to take over Twitter at $54.20 per share. Later on, the world’s richest man backed away from the deal and blamed Twitter for breaching the agreement by misrepresenting the number of spam accounts on the micro-blogging site.  According to Twitter, Musk reportedly backed away from the deal because the stocks of Twitter tumbled, and the value had fallen below $54.20 per share.

Elon Musk’s legal team has repeatedly told the Delaware Chancery Court that Musk wanted correct details about fake accounts on Twitter. On the other hand, Twitter said that Musk’s scepticism over spam accounts tally was a distraction to walk away from the deal.

The trial in October will decide whether Musk can be forced to complete his deal at an agreed $44 billion price.

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