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,...

Flood-ravaged Pakistan may import tomato and onion from India amid a spike in prices


Pakistan

 Flood-ravaged Pakistan may import tomatoes and onions from India amid a massive spike in the prices of various vegetables and fruits in Lahore and other parts of Punjab province, according to the market dealers.

The flood has sent food prices soaring in Pakistan. On Sunday, per kg of tomato and onion were available in Lahore's markets at around Rs500 and Rs400 respectively. Jawaad Rizvi, a wholesale dealer in the Lahore market, reportedly revealed that the prices of commodities will increase further in the coming days. The supply of vegetables from Balochistan, Sindh and south Punjab has been affected because of floods.

Rizvi told PTI, "In the coming days, onion and tomato per kg prices may cross Rs 700. Similarly, the potato price has increased from Rs 40 per kg to Rs 120 per kg.”

Another reason for soaring food prices is the short supply of vegetables and fruits after the destruction of the crops on thousands of acres by the destructive floods in Balochistan and Sindh. Vegetables like capsicum or bell pepper are also short in the market after the floods.

According to media reports, Pakistan’s government is considering the option to import onions and tomatoes from India via the Wagah border. Currently, Pakistan is getting the supply of tomato and onion from Afghanistan through the Torkham border.

Around 110 districts in Pakistan have been destroyed by floods. More than 949,800 dwellings have also been demolished.

It also killed more than 1,000 people and displaced thousands in the country. The federal government also declared an emergency to deal with the current problems after the destructive monsoon caused havoc in the country.

Recently, the UAE also ordered urgent relief aid to Pakistan. The UAE sent around 3,000 tonnes of food and medical and pharmaceutical supplies to the flood-affected areas in Pakistan

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