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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China suspends short-term visa for South Koreans over Covid curbs

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China

In retaliation to the move to impose curbs on Chinesetravellers, the People’s Republic of China has suspended the issue of short-term visas for South Koreans.

The Chinese embassy in South Korea announced the suspension of short-term visas for South Koreans. Reportedly, the agency said on its official WeChat account that the embassy would adjust the measures if South Korea lifts its "discriminatory entry restrictions" against China. A Chinese embassy official also confirmed the news.

The Chinese embassy said, “Visas for business, tourism, medical treatment, transit and general private affairs will be suspended for South Korean citizens effective today.”

Recently, Qin Gang, the Foreign Minister of the People's Republic of China, held a telephone conversation with Park Jin, the Minister of Foreign Affairs of South Korea. Qin Gang expressed concern over the restrictions imposed on travellers from China.

Various countries, including the United States (US), Canada, France, India, South Korea and Japan imposed fresh COVID-19 test requirements on passengers travelling from China. These countries asked Chinese travellers to show a negative COVID test report before arrival, citing concerns over the country’s recent surge of COVID cases. South Korea also suspended short-term visa applications from its consulates in China. South Korea asked people travelling from China to take a PCR test within 24 hours of arrival. She decried the measures as “unscientific.”

Mao Ning, the Deputy Director-General of the Information Department of the Ministry of Foreign Affairs of China, said these practices were “unacceptable.” She also warned that China could "take countermeasures.”

China witnessed a huge spike in Covid cases after it loosened its zero-COVID policy last month. A report by London-based analytics firm Airfinity said that more than 250 million people in China were infected with Covid. Hospitalisation rates and requirements for intensive care unit (ICU) support also increased rapidly. 

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