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,...

Putin's Pledge: Another Term and a Potential Reign Until 2030

Russia

Russian President Vladimir Putin has announced his intention to seek another term in office, a decision that could extend his rule until at least 2030. Speaking to Russian veterans of the Ukraine war, to whom he awarded Russia's highest military honour, the Hero of Russia gold star, Putin declared, "there is no other way." This move comes as the former KGB officer faces questions about his political future and the direction of Russia under his leadership.

During the gathering with war veterans, Lieutenant Colonel Artyom Zhoga, a Soviet-era Ukraine-born officer, directly asked Putin about his plans for the presidency. Putin, addressing the assembly in the Grand Kremlin Palace's Georgievsky Hall, shared his thoughts on the matter. "I will not hide that I have had different thoughts at different times, but it is now time to make a decision. I understand that there is no other way. I will run for the post of president.

Vladimir Putin, who assumed the presidency on the last day of 1999, has already surpassed the tenure of any other Russian leader since Josef Stalin. Having served as president for an extended period, he has become a dominant figure in Russian politics. His announcement to seek re-election raises questions about the trajectory of Russia's political landscape and the potential implications for its domestic and foreign policies.

Lieutenant Colonel Zhoga expressed confidence that the entire nation would support Putin's decision. With a media landscape largely controlled by the state and minimal mainstream public dissent, Putin is poised to secure widespread support. The absence of a clear successor further solidifies his position, making his victory in the upcoming election a near certainty.

Putin's decision to seek another term has implications for Russia's political stability and its role on the global stage. The move follows reports from the previous month indicating Putin's intent to run again. As he continues to shape Russia's political landscape, questions arise about the country's trajectory, potential policy shifts, and its positioning in international affairs.

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