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,...

Lebanon's Growing Food Crisis: Over Three Million in Need of Assistance

Lebanon

Amidst a backdrop of economic turmoil and political uncertainty, Lebanon is facing an alarming food crisis that has left over three million people in dire need of food assistance. The World Food Programme (WFP) issued a stark warning on Monday, shedding light on the urgency of the situation in a country grappling with one of the worst economic crises in modern history.

Lebanon's population, numbering around 5.5 million, is bearing the brunt of a staggering food inflation rate – the second highest globally. This sharp rise in food prices has left countless families struggling to put meals on the table, a situation that has been further exacerbated by the ongoing political instability in the country.

The WFP underscored that Lebanon's financial collapse and the resulting uncertainty have cast a long shadow over the food security of households. Families that were once self-sufficient are now grappling with the harsh reality of not having enough to eat. Basic staples have become unaffordable luxuries, pushing vulnerable individuals and families to the brink of hunger.

A recent study conducted in May offered a grim assessment of the situation, revealing that approximately 25 percent of households are facing acute food insecurity. This alarming statistic sheds light on the immediate and pressing need for comprehensive and sustainable solutions to address this crisis.

Lebanon's rich history and culture are now being overshadowed by the desperation that has taken hold as a result of this food crisis. Urgent action is required to stabilize the economy, foster political stability, and ensure that the basic human right to food is upheld for all citizens.

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.