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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Elon Musk has chosen a new CEO for Tesla

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Elon Musk

The world's richest person and the new head of Twitter, ElonMusk, has reportedly chosen a new CEO (Chief Executive Officer) for Tesla. According to company sources, Musk has identified the potential successor as the CEO of Tesla.

Recently, Musk said that he does not want to be the CEO of any company. James Murdoch, one of Tesla's board members, has reportedly hinted that Musk may step down as the CEO of Tesla. He testified before the court but did not reveal the name of the new CEO. He said that Musk had decided on the name of the CEO over the last few months.

According to Reuters, some Tesla investors expressed their concern about whether Musk would be able to focus on his role as CEO of Twitter. Reportedly, Musk made some Tesla engineers work for Twitter. However, he called it “temporary” and “after hours”.

Recently, Musk also sent a stern letter to Twitter employees. He reportedly said that the employees will have to put in a lot of effort to build Twitter 2.0. He also said that employees will have to work longer hours at “high intensity.”

Last week, he held an all-hands meeting with staff at Twitter’s San Francisco headquarters. He asked them to work 40 hours in the office. Musk also told Twitter employees to brace for 80-hour weeks.

Musk’s $44 billion Twitter deal was finalised last month. Consequently, Musk introduced various changes on the social media platform. Twitter introduced the payment system of $8 for a blue tick. Musk fired various employees of Twitter, including the CEO Parag Agrawal and other top executives. He overturned Twitter’s permanent work-from-home policy. He also said that all accounts engaged in parody must include "parody" in their name.

Recently, Twitter planned to remove device labels from tweets, making no difference between iPhones and Android users.

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