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,...

Spain's Upcoming Election: A Potential Far-Right Resurgence After Decades"

 


As Spain gears up for an important election on Sunday, there is a growing sense of unease among voters about the possibility of far-right parties gaining significant influence in the government for the first time since the Franco era. The electoral climate suggests that the right-wing opposition Popular Party, led by Alberto Nunez Feijoo, may emerge as the winner. However, with polls predicting they won't secure an absolute majority, the Popular Party could be forced to form a coalition with the far-right Vox party.

This potential shift would mark a significant upheaval in Spanish politics, especially after five years of a left-wing government led by Socialist Prime Minister Pedro Sánchez. The early election was called shortly after the Spanish Socialist Workers’ Party and its far-left coalition partner, Unidas Podemos, suffered significant losses in local and regional elections on May 28.

Many voters are concerned about the implications of a far-right presence in the government. Spain has a painful history under dictator Francisco Franco, and the potential resurgence of a neo-fascist party raises questions about the direction the country may take.

As the election day approaches, the fate of Spain's political landscape hangs in the balance, leaving voters and the international community anxiously waiting to see the outcome of this critical electoral contest.

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