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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“Twitter Is Now In Sane Hands”: Donald Trump After Elon Musk Takes Over

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Elon Musk

Former president of the United States, Donald Trump, on Friday hailed the sale of the social media giant, Twitter, to tech billionaire and Tesla CEO Elon Musk. However, he refused to comment about joining the micro-blogging site again.

Musk, the world's richest man, bought Twitter on Thursday after months of uncertainty and speculation. Trump said on his own Truth Social platform, "I am very happy that Twitter is now in sane hands, and will no longer be run by Radical Left Lunatics and Maniacs that truly hate our country.”

Earlier, Tesla CEO indicated that he would lift Trump's Twitter ban, which was imposed in the wake of the 2021 assault on the US Capitol that Trump was accused of inciting. However, Trump refused to comment about joining the site in a subsequent interview with Fox News Digital.

After acquiring Twitter, the world’s richest man fired top Twitter executives, including the CEO Parag Agrawal, the company’s legal head and policy maker Vijaya Gadde, and CFO Nel Segal.

The world’s richest man made a bid to buy the social media company for $44 billion in April this year. However, he tried to walk away from the deal in May, alleging that the social media giant gave him wrong information about bot and spam accounts on the micro-blogging site. However, Twitter said that Musk did not want to complete the deal because the shares of Twitter tumbled. Twitter sued Musk and asked him to complete the deal at the agreed price. Musk also sued Twitter, alleging that there were numerous fake accounts on Twitter. After a months-long saga full of twists and turns, Musk finally bought the social media platform on October 27.

Musk is always in the limelight. Earlier this month, he shared a plan to end Russia's war in Ukraine. Subsequently, the Ukrainian President criticised him.

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