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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WHO: “there is a real opportunity to stop the spread of Coronavirus”

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The World Health Organization (WHO) said Tuesday that there is a real opportunity to stop the spread of the corona virus that is emerging worldwide. "If we invest now, then we will have a real opportunity to stop the epidemic", said WHO's general director, Tedros Adhanom Gebresus, during a press conference in Geneva during a meeting on the Chinese virus that included around 400 international experts.

Waiting for the vaccine, which according to WHO "could be ready in 18 months", the total number of people infected has risen to 44,653 people worldwide.

Japan strengthens protection measures: from this week direct flights to Shanghai and other Chinese cities from 13 regional airports will be cancelled, bringing to 680 weekly flights connecting the country with China against around 1,400 flights prior to the outbreak of the epidemic.
A further 39 cases were registered on the ship anchored in Yokohama.

Two new cases of Covid-19 have been identified in Germany, where there are now 16 infections. The two new cases have been located in Bavaria, in the automotive supply company Webasto, the same where the first 'German' infection was registered, following the visit to the country of an employee of the same company arriving from China.

“At least 40 people have come into contact with the Chinese virus” the authorities explained according to the Washington Post.

The spread of the Chinese corona virus will reduce US GDP growth to 1% in the first quarter versus the previously estimated 2.2%. Standard & Poor's predicted, indicating that the bulk of the impact on the economy of the corona virus will concern the first three months of 2020. In the second quarter, the weight should be "less", Beth Ann Cattle, chief economist for the US of S&P indicates in a report.
"Together with the potentially devastating balance for human lives - the analyst underlines - if the virus spread further and lasted a long time, the impact on every economy could be much worse".

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