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,...

Pope Francis calls for ceasefire in "absurd and cruel" Ukraine war

 

Pope Francis has once again made an appeal for peace in war-torn Ukraine and an end to a brutal conflict claiming scores of lives and injuring countless other people.

Ahead of the first anniversary of Russia's invasion of Ukraine, the pope on Wednesday morning reiterated his calls for a ceasefire in the "absurd and cruel" war and urged for peace negotiations.

"Let us ... ask ourselves: has everything possible been done to stop the war?," the Holy Father told his weekly General Audience, renewing his appeal for "concrete efforts to end the conflict."

"Whatever is built on rubble can never be a true victory," the 86-year-old pontiff further mentioned, highlighting the significant death toll, number of refugees, and economic and social damage from the conflict.

Pope Francis has made a number of appeals for peace since Russian troops marched into neighbouring Ukraine on February 24 last year, even revealing his interest in visiting both countries. Apart from sending aid and supplies, he has even sent representatives to the war-torn nation several times on his behalf.

Ahead of the war anniversary - which the Pope called a "sad anniversary" during his General Audience - Russian President Vladimir Putin and his US counterpart, Joe Biden, have also delivered fiery speeches from Moscow and Warsaw, respectively.

On Tuesday, in a one-hour-and-45-minute speech, Putin vowed to continue with its 'special military operation' in Ukraine, accused Russia's neighbour and the West of starting the war, and even announced that his country was suspending participation in the last remaining nuclear arms treaty with the US.

Biden, later in the same day, promised in his 20-minute speech to continue supporting Ukraine as it enters a second year of brutal conflict, adding "the West was not plotting to attack Russia", contradicting Putin's words.

Nevertheless, the US president introduced a busy start to the week on Monday with his surprise visit to Kyiv, during which he pledged additional arms deliveries and unwavering support for the war-torn nation.

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