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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Israel to Recognize Morocco's Sovereignty over Western Sahara, Netanyahu Announces

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Israel

Israeli Prime Minister Benjamin Netanyahu has unveiled plans to recognize Morocco's sovereignty over a region in Western Sahara. This significant development was communicated in a letter addressed to King Mohammed VI, according to Morocco's Map state news agency. Netanyahu emphasized that Israel's position on this matter will be formally represented in the government's official documents and actions.

Content: Netanyahu's decision to recognize Morocco's sovereignty over a part of Western Sahara marks a milestone in the growing diplomatic ties between the two nations. It signifies a further consolidation of the relationship, which was formalized with the signing of the Israel-Morocco normalization agreement in December 2020.

The move holds considerable geopolitical implications, as it represents an endorsement of Morocco's claims to the Western Sahara region. Western Sahara has long been a subject of territorial dispute between Morocco and the Polisario Front, which seeks independence for the indigenous Sahrawi people. The recognition by Israel could potentially impact the ongoing negotiations and dynamics surrounding the Western Sahara conflict.

Netanyahu's commitment to embody Israel's position in all relevant government works and documents indicates a firm and enduring stance on this matter. It further underscores the significance of the decision and its integration into Israeli policy moving forward.


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