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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Elon Musk Set to Meet French President Second Time In Just Over A Month

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Elon Musk

For the second time in less than a month, tech billionaire and owner of Twitter, Elon Musk, will meet French President Emmanuel Macron in Paris, the capital of France, on Friday. France hopes to win the billionaire's favour and win his investment.

This week, French President Macron stated that he would meet the tech billionaire to "tout the attractiveness of France and Europe.” During a trip to France's largest technological trade show, VivaTech, Macron expressed his appreciation for Musk.

Musk will speak with Macron before appearing in front of a large crowd at VivaTech for what is described as an hour-long "conversation" with Maurice Levy, Chairman of the Supervisory Board of Publicis Groupe, the world's third largest advertising and communications group, as well as the event's French founder.

In May, Tesla boss Elon Musk and the French president held talks. Later on, Musk said that he was considering big investments in France.

Jean-Noel Barrot, Minister Delegate to the Minister of Economy, Finance, and Industrial and Digital Sovereignty, fueled rumors by telling the American channel CNBC earlier this week that "a lot of effort and energy" were made to secure a Tesla factory for France. 

After establishing its first manufacturing facility in Germany last year, the electric car manufacturer Tesla has a limited presence across the European continent.

During a stroll through the exhibit halls of VivaTech, which heavily promotes France as a destination for startups and investors, the French President said, "We're going to talk about artificial intelligence, where he is involved, social networks, and regulatory frameworks. I'm also going to talk to him about cars, batteries, and the sector, to tout the attractiveness of France and Europe."

Since the beginning of this year, Musk has always been in the spotlight for various reasons. He has also been making headlines because of Twitter. 

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