April, 2016

• 27 April

  UK economy loses pace as OECD warns of Brexit damage

  

    Bloomberg The U.K. economy lost momentum in the first quarter as services posted their weakest performance for almost a year and industrial production continued to decline. Economic growth slowed to 0.4 percent from 0.6 percent in the final three months of 2015, as forecast in a Bloomberg survey of economists. The estimate, published by the Office for National Statistics ...

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• 27 April

  Pound’s advance shows Bremain’s dominance

    Bloomberg The pound rose for a fourth day versus the dollar as data showed that U.K. economic growth slowed in the first quarter, further evidence that the currency’s direction is being driven by investors’ view on the nation’s June referendum on its membership of the European Union. Sterling touched the highest level versus the U.S. currency since February on ...

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• 27 April

  Top 1% pay quarter of all Britain’s income tax

    Bloomberg The 1 percent may not be popular among protest marchers, but in the U.K. they’re now paying more than a quarter of all income tax. A report by the Institute for Fiscal Studies published on Wednesday found that the proportion of total income tax paid by the top centile rose to 27.5 percent in the 2015-16 tax year ...

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• 27 April

  Adidas lifts profit forecast ahead of Euro soccer tournament

  

    Bloomberg Adidas AG raised its full-year profit forecast for the second time in less than three months after first-quarter results beat its own expectations and as consumers spend more ahead of the Euro 2016 soccer tournament. Net income from continuing operations will rise 15 percent to 18 percent this year, more than a prior range of 10 percent to ...

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• 27 April

  Oil rising faster than Ruble boosts Russia’s fiscal outlook

  

    Bloomberg The outlook for Russia’s earnings from oil exports is improving as the price of a barrel of crude in ruble terms rose to the highest in more than five months. The currency’s 2.8 percent advance this month has lagged a gain of 18 percent in Brent crude, which is used to price Russia’s main export blend. The exchange ...

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• 27 April

  Germany plans $1.4 billion in incentives for electric cars

  

    Bloomberg German Chancellor Angela Merkel’s government reached a deal with automakers to jointly spend 1.2 billion euros ($1.4 billion) on incentives to boost sluggish electric-car sales. Buyers will be able to receive as much as €4,000 in rebates to help offset the higher price of an electric vehicle, Finance Minister Wolfgang Schaeuble said at a press conference in Berlin. ...

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• 27 April

  Treasuries rise, Dollar drops before Fed; Apple drags stocks

  

    BLOOMBERG Treasuries rose, sending 10-year yields lower for the first time in eight days, and the dollar weakened, as markets signaled caution before the Federal Reserve’s latest interest rate decision. The Nasdaq 100 Index slumped as Apple Inc. tumbled after posting its first quarterly-revenue drop in more than a decade. Benchmark 10-year note yields retreated from the highest level ...

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• 27 April

  Emirates Securities Market down by -0.52 percent

  

    ABU DHABI / EMIRATES BUSINESS The Emirates Securities Market Index has decreased by -0.52% to close at 4657.72 points. Accordingly the Market Capitalization has lost AED 3.94 billion attaining AED 755.54 billion. A total of 473.66 Million Shares were traded with a total value of AED 0.77 billion during the trading session of 27-04-2016 through 6667 transactions. The number of companies ...

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• 27 April

  WB raises iron ore forecasts after China-led rally

  

    Bloomberg Iron ore forecasts for the five years through 2020 have been revised higher by the World Bank after the commodity rallied in the first quarter on a surge in steel prices in China, the largest user. The raw material is expected to trade at $50 a metric ton this year, $51.50 in 2017 and extend gains to $56.20 ...

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• 27 April

  Etihad records huge returns, thanks to alliance strategy

  

    ABU DHABI / WAM Etihad Airways, the national airline of the United Arab Emirates, on Wednesday announced its strongest annual financial results to date, with a net profit of US$103 million on total revenues of US$ 9.02 billion. The performance, which marked the airline’s fifth consecutive year of net profitability, also saw earnings before interest and tax, EBIT, of ...

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