Mena News

 

  UAE Exchange records USD14bn remittances
Apr , 02 , 2014  
  In 2013, the UAE Exchange remitted around USD14bn from the UAE, largely to South Asia, compared to USD13.2bn in 2012. Remittances increased due to economic growth and continuous investments in infrastructure.
 

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  Gold falls on Fed tapering
Mar , 20 , 2014  
  Gold prices ended lower Wednesday with highest one-day fall in three months, as US Fed tapered its bond buying and guided to keep interest rate low for near term. Prices dropped 1.8% to USD1,331 an ounce on the NYMEX.
 

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  New Zealand’s GDP expands in 4Q13
Mar , 20 , 2014  
  New Zealand’s GDP grew by 0.9% QoQ in 4Q13, in line with market expectation, but lower than 1.4% QoQ growth witnessed in 3Q13.
 

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  Economic sentiment deteriorates further in Switzerland
Mar , 20 , 2014  
  According to the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse, the index of economic sentiment in Switzerland deteriorated by 9.7 points to 19 in March. This was the third month, the index showed a fall.
 

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  US Federal Reserve tapers
Mar , 20 , 2014  
  US Federal Reserve tapered its monthly bond buying by USD10bn to USD55bn. The Fed also changed its future guidance on interest rate by reducing the unemployment target of 6.5%. In addition, the central bank is of the view that the US economy would not grow beyond 3% YoY compared to the earlier estimate of 3.2% YoY.
 

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  Consumer credit grows in US
Mar , 10 , 2014  
  Consumer credit in the US rose by USD13.7bn in January after a downwardly revised USD15.9bn growth in December, due to higher non-revolving credit than a fall in revolving credit.
 

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  US employment increases in February
Mar , 10 , 2014  
  Non-farm payroll employment in the US increased by 175,000 jobs in February after rising by 129,000 (revised) in January; market was expecting a rise of 150,000 jobs. However, the unemployment rate stood higher at 6.7% vis-à-vis a five-year low of 6.6% in January.
 

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  Deyaar plans residential and hotel complex in Dubai
Mar , 10 , 2014  
  Deyaar plans to construct a combined residential and hotel project in the UAE worth USD245mn.
 

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  Fitch maintains Austria's rating with ‘Stable’ outlook
Feb , 24 , 2014  
  Fitch maintained Austria's coveted 'AAA' rating with 'stable' outlook despite one-time adjustments to gross general government debt associated to the financial sector support.
 

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  Sweden’s economic sentiment abates in February
Feb , 24 , 2014  
  Sweden’s economic confidence index plunged to 104.6 in February from 107.4 in January and 106 in December compared to market expectation of 107.
 

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