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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OpenAI's Message to Employees: Prioritizing Products and Stability Amidst Leadership Change

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AI

In the wake of recent leadership changes and the departure of Sam Altman as CEO, OpenAI is sending a clear message to its employees—focus on products and maintain stability. The company's Vice President of Product, Peter Deng, articulated this stance in a memo to the team, emphasizing a collective decision to redirect energy towards product development.

The strategic move is aimed at mitigating concerns both within the company and among its clients. OpenAI's customers, anxious about the organizational turbulence, have sought assurances regarding the company's operational continuity. Deng's memo seeks to allay these concerns, assuring stakeholders that OpenAI is not only operational but is committed to advancing its core mission through the development of impactful products.

The decision to prioritize product development aligns with OpenAI's historical strengths in delivering cutting-edge software solutions. Deng's note underscores the company's resilience and determination to stay focused on its core competencies, signaling that OpenAI is still very much in business despite the recent leadership shakeup.

As OpenAI charts its course through this transition, the message to employees reflects a commitment to stability, innovation, and a steadfast pursuit of its mission to ensure that artificial general intelligence benefits all of humanity.

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