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  • UK inflation slows to 2.2% in April

    May 23, 2018 9:36 AM

    Mubasher: The UK’s consumer price index (CPI), the measure of inflation, showed a year-on-year decline to 2.2% in April, its lowest level since January 2017 having reached a high of 2.8% during the autumn of 2017. Inflation is also down from 2.3% in March, data released by the Office for National Statistics (ONS) showed on Wednesday. The largest downward

  • UAE accounts for 41% of GCC power trade market in 2017 – Report

    May 23, 2018 8:50 AM

    Abu Dhabi – Mubasher: The UAE made up 41% of the GCC’s power trade market in 2017, the Gulf Cooperation Council Interconnection Authority’s (GCCIA) annual report said. Power exchange among the GCC nations is implemented through a simple and efficient system depending on supply and demand forces, the report added. The GGCIA has contributed to easing the transactions

  • Sweden wants everybody to be ready for war

    May 22, 2018 1:21 PM

    Mubasher: Despite the fact that Sweden is one of the most peaceful countries in the world, its government is ready for war, and wants every citizen to be ready in case of an attack. The Swedish government is sending out "war pamphlets" to its 4.8 million households, as reported by CNN. The aim is to inform people of the roles in the case of an attack

  • NYSE names Stacey Cunning as 1st female president

    May 22, 2018 12:45 PM

    Mubasher: The New York Stock Exchange (NYSE) on Tuesday chose Stacey Cunningham to be the first woman to run both the NYSE and Nasdaq exchange in more than two decades. Cunning, who has served as chief operating officer (COO), replaces Thomas Farley, who ran the NYSE since 2013 after it was bought by Intercontinental Exchange (ICE). The NYSE’s first

  • UK mulls opening GBP 475m fund to pay public debt

    May 22, 2018 12:14 PM

    Mubasher: The British government will submit a request on Tuesday to the High Court to force open a GBP 475 million ($640 million) charity fund in an effort to repay some of the country’s domestic debt. Jeremy Wright, the UK’s attorney general, will urge the court to overhaul the fund’s trust terms and disburse the money to settle a part of the UK’s GBP 1.7 trillion

  • EMEA high yield bond issuance hikes in April – Moody’s

    May 22, 2018 11:44 AM

    Mubasher: The number of high yield bond issues has surged in April in the Europe, Middle East, and Africa (EMEA) region, supporting past leveraged loan volumes, after "several banner months", Moody's Investors Services said in a market update. The volume of high yield issuances jumped 87% and totalled $17.2 billion last month up from $9.2 billion in March

  • US issues sanctions against Venezuela on unfair elections

    May 22, 2018 10:51 AM

    Mubasher: US President Donald Trump issued an executive order prohibiting US individuals and entities from entering into financial transactions with the government of Venezuela. The new executive order, released late Monday, prohibits “the purchase of any debt owed to the Government of Venezuela” and “any debt owed to the country that is pledged as collateral

  • India’s solar PV capacity falls short of 2022 expectations

    May 22, 2018 10:35 AM

    Mubasher: The Total solar photovoltaic (PV) capacity of India is expected to reach 50-75 gigawatts (GWs) by 2022, falling short of the targeted 100 GWs. Also, India’s total rooftop solar capacity is forecast to record less than 10 GWs, around a quarter of the target set by the government, according to a survey conducted by Bridge to India company

  • Deutsche Post AG’s subsidiary acquires Colombian logistics firm

    May 22, 2018 10:13 AM

    Mubasher: Deutsche Post AG, the German postal service company, has announced that its unit DHL Supply Chain acquired Supply Group, a Colombian logistics company. The German international courier services provider did not disclose the deal’s financial details, according to Market Watch. "The expansion into the developing Andean region in South America

  • China to slash import tariffs on automotive parts, vehicles

    May 22, 2018 9:26 AM

    Mubasher: China will cut import tariffs on some vehicles and car parts, China's Finance Ministry announced on Tuesday. The decision will be effective starting from 1 July 2018, the ministry added. The world's second-largest economy will cut tariffs on cars to 15% instead of 25%, while import duty on auto parts will be slashed to 6%, Reuters reported