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GCC set for robust growth
The GCC can expect to see robust economic growth over the medium term and successful diversification of its local economies, Ernst & Young said in its most recent Rapid-Growth Markets (RGMs) Forecast.
Investors bet on last-minute deal
With a possible US government shutdown days away, Wall Street still hasn’t come down with a critical case of fiscal fever despite forecasts that failure to resolve the federal budget standoff could be catastrophic.
US consumer spending up
Consumer spending in the US rose in August for a fourth consecutive month as a pickup in incomes supported the biggest part of the economy.
NSE below 200-day moving average
Indian shares fell about one per cent on Friday with the NSE index closing below its 200-day moving average for the first time in nearly three weeks as banks declined after central bank chief’s comments on inflation being still high.
Apicorp’s H1 profit jumps 31%
Arab Petroleum Investments Corporation (Apicorp), the Multilateral Development Bank owned by the ten member nations of the Organisation of Arab Petroleum Exporting Countries (OAPEC), recently announced that its net profit for the first half of the year grew 31 per cent to $66 million from the $51 million recorded for H1, 2012.
US home prices increase
US home prices gained in July even as a dip in consumer confidence this month underscored the potential for higher interest rates and a sluggish economy to dent a housing market recovery.
US consumer spending probably rose in August
Consumer spending probably rose in August for a fourth consecutive month as demand for autos reached an almost six-year high, economists said before reports this week.
Indian shares gain nearly 1%
Indian shares rose nearly one per cent on Wednesday to mark their second straight day of gains on continued foreign inflows, while stocks perceived as defensive gained ahead of the conclusion of the US Federal Reserve meeting later in the day.
UAE inflation at 1.3% in Aug
For the third month in row the UAE consumer prices remained at 1.3 per cent year-on-year in August, the National Bureau of Statistics on Tuesday.
US consumer prices muted, but rentals rise
US consumer prices barely rose in August as the cost of energy fell, but an increase in rents and medical care costs pointed to stabilization in underlying inflation that could allow the Federal Reserve to start trimming its bond purchases.
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