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,...

Twitter Employees Flee As Elon Musk Continued Speaking

 

Elon Musk

New chaos erupted on Twitter after some employees decided to leave the company. The New York Times (NYT) said in a report that "hundreds of Twitter employees appeared to have decided to depart with three months of severance pay” after Elon Musk gave them the ultimatum to choose whether to quit or stay at the company.

Elon Musk, the world's richest person, has been firing those employees who oppose or disagree with him. In recent weeks, he also asked the employees to step up their skills in order to work in the company.

According to the New York Times report, some employees were summoned to a conference room in the San Francisco head office on Thursday while others were called in via video conference. The report further added, “As the 5 pm deadline passed, some who had called in began hanging up, seemingly having decided to leave, even as Mr Musk continued speaking.”

Twitter also announced through email that it would close its "office buildings" until Monday. Musk and his advisers also held meetings with some Twitter workers and asked them not to leave the social media company. Musk's team also held meetings with "undecided employees" to persuade them to work at the company.

According to the New York Times, Musk reportedly said that he knew “how to win and that those who wanted to win should join him.”

On Wednesday, employees were provided with a FAQ ( frequently asked questions) document about exit packages. Musk asked workers to decide whether to stay with the company or depart from the company. The FAQ said that employees would have to "maximise working from an office" and give their best.

Last month, Musk purchased the social media company for USD 44 billion. Subsequently, he laid off half of Twitter's 7,500 full-time workers, including more than 200 employees in India.

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