UAE Non-Oil Business Activity Surges to Nine-Month High in December

Image
 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,...

Western Australia Deals With Serious Flooding

 

Australia

As muddy floods withdrew to reveal the full extent of recent damage to houses, roads, and animals, it became clear that the flood-affected areas of Western Australia had a long road to recovery.

Over the past week, floodwaters in the flooded town of Fitzroy Crossing, which has a population of around 1,000, have destroyed homes, washed away road surfaces, and demolished the major bridge.

The floods submerged much of Fitzroy Crossing and the Indigenous settlements in the sparsely populated area, creating a sizable inland lake in the northern part of Western Australia.

According to public broadcaster ABC, the state's housing minister, John Carey, said on Wednesday, "I don't want to sugar-coat the task that lies ahead in terms of both housing and road building."

"We must provide housing for folks."

The Kimberley Pilbara Cattlemen's Association estimates that numerous large farms in the region have lost thousands of cattle.

State Agriculture Minister Jackie Jarvis warned on Thursday that "the impact on pastoral stations is likely to be considerable."

We won't actually understand the entire effect for some months.

Less than 40,000 people live in the flood-stricken Kimberley region, which is three times greater in area than the United Kingdom. Australia has seen torrential rains on numerous occasions during the previous two years as a result of back-to-back La Nina climate cycles.

In November of last year, flash floods ravaged portions of eastern Australia, knocking entire homes from their foundations in several rural towns.

When floods inundated Sydney's periphery in July, tens of thousands of its citizens were told to leave.

More than 20 people also perished in an east coast flooding disaster in March that was brought on by storms in Queensland and New South Wales. The likelihood of natural disasters is increasing due to climate change, according to many warnings from Australian researchers


Comments

Popular posts from this blog

Enhancing Relationships: Sheikh Khaled’s Trip to India Signals a New Phase of UAE-India Relations.

UAE's Enduring Legacy of Generosity: New Initiatives Highlight Global Humanitarian Efforts.

The UAE's AI Ambitions Get a Boost with Nvidia Chip Approval: A Game-Changer for the Gulf Region.