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,...

Russian defence minister appears for first time since Wagner uprising

 

Russia

Sergei Shoigu, the Minister of Defence of the Russian Federation, made his first public appearance since a settlement to put a stop to what the authorities had described as an armed uprising by the Wagner mercenary group against him was reached on Saturday.

According to state media, he visited a command post for Russian forces in Ukraine on Monday. After Russian President Vladimir Putin agreed to let the Wagner mercenary group leader avoid treason charges and accept exile in neighbouring Belarus, Wagner mercenaries returned to their stronghold on Sunday.

On Saturday, Yevgeny Prigozhin, the chief of the Wagner group, agreed to leave Russia. Alexander Lukashenko, the President of Belarus, struck the deal with the chief of the Wagner group to allow the troops withdrawal from Russia.

Shoigu was seen flying in a jet with a friend and hearing reports at a command post controlled by Russia's Zapad (West) military unit in a video released on Monday morning by the Russian Defence Ministry.

According to Russia's Zvezda Defence Ministry TV Channel, Colonel General Yevgeny Nikiforov, the group's commander, reported to Shoigu, who appeared physically uninjured and calm, about the situation on the front lines in Ukraine.

On Sunday, the Wagner pulled fighters from Russia. Alexander Gusev, the governor of Voronezh, said that the Wagner fighters left the southern Voronezh region and the Rostov-on-Don, a city in Southern Russia. Subsequently, train and bus stations in the Rostov-on-Don city were reopened and traffic restrictions were lifted.

On Saturday, the Wagner fighters under the leadership of Prigozhin moved closer to Moscow, the capital of Russia, in an effort to unseat what they deemed Russia's dishonest military leadership. The group fought with the Russian army by seizing the army headquarters on Saturday. Later on, the group struck a deal with the Kremlin brokered by Alexander Lukashenko.

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