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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Brazil's Lula takes reins as President for third term

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On sunday Festival fever swept the Brazilian capital as Luiz Inacio Lula da Silva was sworn in  for a third term as president, in a ceremony snubbed by departing leader Jair Bolsonaro, underlining the deep divisions the veteran leftist inherits.

Police on Sunday detained a man who had an explosive device and a knife. He was trying to enter Brasilia's esplanade for Mr da Silva's inauguration, Alan Campos from Brasilia's military police told Reuters.

The swearing-in capped a remarkable political comeback for Mr da Silva, 77, who returns to the presidential palace less than five years after being jailed on controversial corruption charges that have since been quashed.

In a sign of the scars that remain from Mr da Silva's brutal election showdown with far-right former army captain Mr Bolsonaro in October, security was exceptionally tight at the ceremony in Brasilia.

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