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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"Colossal risks" if Ukraine gets F-16 fighter jets, Russia warns

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Moscow has warned the West that sending the advanced F-16 fighter jets to Ukraine would carry "colossal risks", after USPresident Joe Biden informed his allies at the G7 summit in Hiroshima, Japan, that it would allow the warplanes to be donated to Kyiv.

As the bloc's summit continued for a second day, Russian deputy foreign minister Alexander Grushko accused Ukraine's Western allies of "still adhering to the escalation scenario". "This will be taken into account in all our plans," he warned.

Ukraine's President Volodymyr Zelensky has frequently reiterated the need for the F-16s, but the US had previously hesitated to allow their delivery. The jets can travel at twice the speed of sound and can effectively deal with targets both in the air and on the ground.

Zelensky touched down in Japan on Saturday for the annual event. His arrival is no less than a surprise for many worldwide as he was majorly expected to attend the summit via video conferencing. Biden also announced training for Ukrainian pilots at the summit.

Russia was expelled from the group following its annexation of Crimea in 2014. Zelensky's attendance at the summit is perhaps another show of solidarity from Western allies. His presence will potentially bring him into contact with a few non-members of the group too.

In a statement, The G7 leaders also called on China to press Russia to stop its special military operation in Ukraine, and immediately and unconditionally withdraw all of its troops from the neighbouring nation.

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