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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Coronavirus, Japan: 3,711 quarantined on cruise ship

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In Japan, a cruise ship with 3,711 people on board is quarantined after the discovery of at least eight suspected cases.

3,711 people aboard Carnival Japan's Diamond Princess cruise ship quarantined in Yokohama Bay, in Japan. After landing a passenger in Hong Kong who tested positive for the coronavirus, at least eight other people experienced symptoms of contagion and fever. 

Japanese government spokesman Yoshihide Suga said adding that checks are underway on 2,666 passengers and 1,045 crew members.

The number of coronavirus infections exceeded 20,400 in China, with 3,235 new cases confirmed. According to the latest official data, 64 deaths have occurred in the country, all in the province of Hubei, outbreak of the virus, and the total tall therefore rises to 425. While 635 infected, they have been discharged from hospitals.

There is also a second victim outside of China after one death in the Philippines, a 39-year-old man lost his life in Hong Kong in hospital.

Macau has temporarily closed the casinos. The Chinese stock exchanges opened with decreases between 2 and 3.5 per cent, but then turned positively. Beijing assesses whether to reduce growth estimates for 2020.

The World Bank calls for the strengthening of health checks and is ready to mobilize resources for the most affected countries.

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