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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The United States Cautions Its Citizens Against Travelling To Sri Lanka Amid The Ongoing Crisis

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 The United States (US) has advised its citizens against travelling to Sri Lanka because of the political unrest. Sri Lanka is suffering because of fuel and medicine shortages, COVID-19 cases and terror threats amid the worst-ever economic crisis.

The US State Department said on Wednesday in its latest travel advisory, “Reconsider travel to Sri Lanka due to COVID-19 and fuel and medicine shortages. Exercise increased caution in Sri Lanka due to terrorism.” The Centre for Disease Control and Prevention (CDC) also issued a Level 3 Travel Health Notice for Sri Lanka because of the high level of Covid-19 cases in the country.

The State Department also said Sri Lanka is experiencing shortages of fuel and cooking gas due to the economic crisis. The nation is also experiencing shortages of medicines and essential food items.

The economic crisis in Sri Lanka

Sri Lanka, a nation with a population of 22 million, is facing its worst economic crisis since gaining independence from the UnitedKingdom (UK) in 1948. Citizens have protested for weeks over lengthy power cuts and shortages of gas, food and other basic goods. Police also used water cannons and tear gas to disperse protesters.

Sri Lanka

Almost all Cabinet ministers quit their posts. The 26 cabinet ministers resigned recently due to an ongoing crisis. Many protesters alleged that the president and his family are to blame for the situation in the country. Despite the declaration of a state of emergency and a weekend curfew, people joined the protests calling for the resignation of President Gotabaya Rajapaksa.

The US State Department also said that terrorists may attack Sri Lanka. Reportedly, the travel advisory said that terrorists may attack tourist locations, transportation hubs, markets, shopping malls, government facilities, hotels, clubs, restaurants, places of worship, parks, major sporting and cultural events, educational institutions, airports, hospitals, and other public areas.

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