UAE PMI Hits Nine-Month High in December, Signaling Robust Growth

EU antitrust regulators will decide by May 12 on whether to approve Abu Dhabi state oil giant ADNOC's $17.2bn takeover of German chemicals company Covestro, as part of efforts to reduce oil dependency. The European Commission can clear the deal with or without conditions or open a four-month investigation, potentially under the Foreign Subsidies Regulation. ADNOC's bid for Covestro awaits confirmation, following a similar case involving UAE telecoms group e&’s acquisition of Czech telecoms company...

Abdelilah al-Rabea, wearing a helmet and securely strapped into his four-wheel-drive, thrilled a crowd in the Saudi desert with his dune bashing skills near Zulfi. This popular adrenaline-fueled sport attracts spectators from all over the country who witness drivers performing stunts on challenging desert landscapes, showcasing their modified cars and powerful engines. Despite the risks involved, the passion for dune bashing and desert drifting in Saudi Arabia reflects a desire for speed, power, and masculinity,...

In southwestern Syria, Druse militias, including the Mountain Brigade, are training recruits to integrate into the new national army as the country transitions post-Assad regime. Interim President Ahmed al-Shara faces challenges in forming an inclusive government, with Druse and Kurdish militias expressing concerns and demands for representation. The Druse militias, now providing security in Sweida Province, are wary but willing to give the new government a chance to prove its commitment to minority rights and...

President Donald Trump is planning his first foreign trip during his second term, with a proposed visit to Saudi Arabia in May to secure a $1 trillion investment deal. He also mentioned plans to visit the UAE and Qatar, with a possible mid-May timeframe for the visits. Trump aims to create jobs through economic agreements during his trip, though specific details have not been disclosed yet. Full Article

Israeli Prime Minister Benjamin Netanyahu's office reversed the decision to appoint former navy commander Vice Admiral Eli Sharvit as security agency chief after criticism, including from US Senator Lindsey Graham. Netanyahu announced Sharvit's appointment on Monday, but later reconsidered due to Sharvit's opposition to key government policies and Trump's stance on climate change. The move sparked condemnation from the opposition, with concerns raised about potential security implications and a constitutional crisis if the current director,...

The Israeli military conducted a strike near Beirut's outskirts for the second time in less than a week, targeting a Hezbollah member who allegedly assisted Hamas in planning an attack on Israel. Despite a cease-fire agreement between Israel and Hezbollah in November, recent strikes have raised concerns about the truce's stability. Hezbollah, a Lebanese militant group backed by Iran, has not commented on the attacks, which included airstrikes in southern Lebanon and rocket launches from...