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,...

Pakistan and Ukraine: Friends, enemies, or frenemies?

 

Ukraine

As part of its war against Russia, Pakistan has reportedly sent 10,000 rockets to Ukraine. However, don't be surprised, this is just the beginning.

The ties between Ukraine and Pakistan in defense matters began in 1991 after the Soviet Union broke apart and Ukraine became independent. The natiUkons have exchanged arms purchases worth $1.6Bn over the past 29 years, with Pakistan purchasing 320 T-80UD main battle tanks from Ukraine. More recently, there has been a deal to repair Pakistan's T-80 tank fleet for the tune of $85.6 million. Six months into the Ukraine-Russia conflict, Dmytro Kuleba, Ukraine's FM said “We expect greater solidarity of Pakistan for Ukraine. Big potential” indicating that there is great scope for cooperation between these two nations which can benefit both sides.

Pakistan recently shipped 10,000 rockets to Ukraine for use in Grad-multi barrel rocket launchers.

Islamabad-based arms suppliers like DMI Associates are attracting Eastern European defense firms. Karachi-based Project Shipping shipped 146 containers from Pakistan Ordnance Factories in January. Another shipment of 50,000 defense supplies was also sent recently.

The 122mm Howitzer HE-D30 artillery used by Ukrainian forces is made in Pakistan. The use of British-style steel boxes and the LIU-4 type fuzes identify the 122mm artillery as Soviet-style.

Shipments are being sent through two routes, essentially. The shipments are sent via Karachi port in Pakistan's Sindh province, reaching Germany via the Emden port before entering Poland and reaching Ukraine. A second route is to enter Poland directly through Gdansk and then to Ukraine from there.

Pakistan is expected to receive some assistance from Ukraine to upgrade its Mi-17 helicopers in return for its military supplies.

Aid from Pakistan to Ukraine is also seen as a way for Pakistan to stand alongside the US.

Remember that Pakistan received a maintenance package worth 450 million dollars from the US for its F-16s?

A deal with the US will impede any possible deals with Russia, and Pakistan's negotiations to get cheaper oil from Russia have yet to yield results.

There is also a bond between the two nations due to their sentiments toward India.

Senior Ukrainian legislator Oleksandr Merezhko recently urged the U.S. to impose sanctions on India if it doesn't stop buying Russian oil. As the U.S. knew better than anyone else that India would not succumb to such threats, it dismissed Ukraine's plea immediately, stating that India is a partner of its.

When India conducted nuclear tests in Pokhran in 1998, Ukraine condemned India at the UNSC.

So, like a double agent in spy thrillers, Pakistan is avoiding taking sides in the Russia-Ukraine conflict and is also trying to purchase oil from Russia at discounted prices. If Pakistan sends rockets to Ukraine to use against Russia, will Russia provide discounted oil to Pakistan? 

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