Mena News

 

  Recovery in German retail sales
Jun , 02 , 2013  
  Retail sales grew 1.8% YoY in April, while the market estimated an increase of 1.1% YoY.
 

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  Inflation in the Eurozone rises
Jun , 02 , 2013  
  Eurozone inflation moved up to 1.4% in May from 1.2% in April. The increase was in line with market estimates.
 

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  Eurozone unemployment reaches a new high
Jun , 02 , 2013  
  Unemployment rate in the Eurozone rose to a record high of 12.2% in April from 12.1% in March.
 

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  Rise in US jobless claims
Jun , 02 , 2013  
  Jobless claims in the US increased 10,000 to 354,000 in the week ended May 25, 2013. The market expected claims to remain unchanged from the originally reported figure of 340,000.
 

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  US economy grows lower than expected
Jun , 02 , 2013  
  Growth in the US economy was less-than-expected, with GDP rising 2.4% QoQ in 1Q13, marginally less than the previous estimate of 2.5% QoQ. The market was expecting growth to remain constant.
 

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  US PCE rises 1% Q/Q in Q1
Jun , 02 , 2013  
  The US Commerce Department stated that US inflation, measured by the Personal Consumption Expenditures, rose 1.0% Q/Q during Q1-13, surpassing the median at 0.9%. The Core reading, which strips the food and energy costs, rose 1.3% Q/Q.
 

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  US GDP grows 2.4% y.y in Q1
Jun , 02 , 2013  
  The US economy grew at an annualised rate of 2.4% in Q1-13, according to new figures from the Commerce Department. The figure is slightly slower than the 2.5% rate originally estimated for the quarter. Consumer spending was stronger than first thought, but businesses bought less and some government spending cuts were deeper than thought. Economists widely expect growth to slow again in the next three months. That is in part due to the expected impact of federal spending cuts, but also of the continuing weakness is the global economy. The US has recovered more strongly than many other developed nations following the global economic downturn. The 2.4% annualised growth figure describes how much the economy would grow by if the growth seen in the quarter was maintained across the year. The quarter-on-quarter growth figure was 0.6%.
 

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  Ezdan Holding to build over 50,000 housing units
May , 28 , 2013  
  Qatar-based Ezdan Holding is constructing more than 50,000 housing units to accommodate guests during the 2022 FIFA World Cup.
 

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  Barwa Real Estate plans USD5.5bn island for World Cup fans
May , 28 , 2013  
  Qatar-based Barwa Real Estate is planning to build a USD5.5bn island to accommodate soccer fans during the 2022 FIFA World Cup.
 

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  Dubai International records double-digit growth in April
May , 28 , 2013  
  Passenger traffic at Dubai International increased 18.7% to 5.4mn in April, marking the straight ninth month of double-digit growth.
 

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