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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Small tsunami in Vanuatu after 7.7 magnitude quake hits South Pacific

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South Pacific

A 7.7 magnitude earthquake in the Pacific Ocean created small Tsunami waves in Vanuatu on Friday, the Pacific Tsunami Warning Centre said as waves measuring less than 1.5 feet were experienced off Lenakel, a port town in the small island nation.

Vanuatu's National Disaster Management Office called on citizens to temporarily shift from coastal areas to higher grounds, asking people to listen to their radios for updates and take other precautionary steps.

Meanwhile, New Zealand's National Emergency Management Agency also warned residents in coastal areas of strong and unusual currents. Fiji, Papua New Guinea, Kiribati, Guam, and other Pacific Islands have also been warned to look out for small waves.

According to the USGS, the tremor’s epicenter was near the Loyalty Islands - east of Australia, north of New Zealand, and southwest of Fiji. It was 37 km deep in an area that is part of the "Ring of Fire" - a region of intense seismic activity.

The Pacific region - home to the vulnerable area - has been experiencing a series of powerful earthquakes lately. A 7.8 magnitude quake 


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