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  • European inflation slows to 1.3% in January

    February 23, 2018 10:23 AM

    Mubasher: Europe’s annual inflation eased slightly in January, matching analysts’ forecasts, while core prices grow, data by Eurostat showed on Friday. The Eurozone’s consumer price index (CPI) reached 1.3% during the first month of 2018, down from 1.4% in December, and 1.8% in the same month of the previous year. Meanwhile, core prices rose to 1.0% in January

  • Cryptocurrencies extend losses, bitcoin below $10,000

    February 23, 2018 9:19 AM

    Mubasher: Digital currencies continued dropping on Friday, while bitcoin dipped below $10,000 before posting a slight recovery. By 09:00 am GMT, bitcoin fell by around 5.6% to $10,072.6, having retreated to 9,800 earlier in the day, while ripple lost 2.36% of its value, reaching a price level of around $0.98. Meanwhile, ethereum, the second largest virtual

  • Dutch tax breaks deemed unlawful

    February 22, 2018 7:36 PM 2

    Mubasher: The European Court of Justice has ruled on Thursday that the tax advantages granted by the Netherlands to large multinational corporations breached European rules. This comes around 15 years after the European Union expressed its opposition to the tax breaks. The court believes that this has discriminated against Dutch-based multinationals

  • Smartphones down for 1st time ever

    February 22, 2018 5:03 PM 2

    Mubasher: Smartphones sales declined by 5.6% during the fourth quarter of 2017. This is the first time since the inception of the survey since 2004 that the sales volume of smart mobile devices decreased. Smartphones sales recorded 408 million in Q4-17, compared to 432 million for the same period in 2016. Xiaomi and Huawei were the only two major manufacturers

  • Below-target inflation not cause for concern

    February 22, 2018 3:16 PM 2

    Mubasher: US Federal Reserve governor Randal Quarles on Thursday said that although inflation has remained below the central bank’s forecasts, this should not ignite worries. The US central bank expects to increase interest rates three time during 2018. The Fed hopes to bring US inflation to 2%, what the bank describes as a healthy level of inflation

  • EU Immigrants to UK drop in 2017

    February 22, 2018 1:42 PM 2

    Mubasher: Immigrants from the EU to the UK declined to 90,000 in September 2017, the lowest number since 2013, compared to 107,000 in the year-ago period, according to a report released by the UK Statistics Authority. Total immigrants to the UK in the last year registered 244,000, the Statistics Authority added. In July, the UK cabinet stated that the freedom

  • Batelco profits plunge 91% in FY17; dividends proposed

    February 22, 2018 1:36 PM 2

    Mubasher: Bahrain Telecommunications (Batelco) incurred a net loss of BHD 21.7 million in the fourth quarter of 2017 against a net profit worth BHD 5.2 million in the same quarter a year ago, according to a recent statement. During fiscal year 2017, Batelco registered a drop of 91% in net consolidated profits to BHD 3.5 million from BHD 37.6 million

  • New Zealand, Denmark rank highest in Corruption Perceptions Index 2017

    February 22, 2018 1:33 PM 2

    Mubasher: The Corruption Perceptions Index of 2017 has shown that New Zealand and Denmark ranked the highest, scoring 89 points and 88 points, respectively. The US did not make it to the top 10. The index also showed some disturbing information, as in the last six years many countries have still made little to no progress. The index, which ranks 180 countries

  • Australia’s Qantas marks record turnaround in 6M

    February 22, 2018 11:51 AM 2

    Mubasher: Australia’s national airline Qantas Airways on Thursday reported record profits in the six months ended December 2017. The national flag carrier logged AUD 976 million ($761.48 million) in underlying profits for the period, up 14.6% from figures reported in the same period of 2016. Underlying profit is the measure most closely watched by analysts

  • Fed bears out optimism about higher growth

    February 22, 2018 10:32 AM 2

    Mubasher: The US Federal Reserve expects higher growth rates than it previously forecast, which could allow for higher interest rates, according to BBC World News. However, some policymakers are sceptical regarding any boost whether in inflation or wages, calling for a more-patient attitude when estimating any potential rises in the rates. At the Fed’s