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  • Gold gains as dollar weakens Monday

    February 12, 2018 10:27 AM 10

    By 10:04 am GMT, gold futures grew 0.56% or $7.40 to $1,323.10 per ounce, while spot gold gained 0.35% or $4.59 to reach $1.321.24 per ounce. Last week, prices for the precious metal had dropped by 1.6% as the dollar rose, logging strong gains at a time when US bourses suffered sharp drops and volatility. Investors are awaiting data on US inflation due this week, which

  • GCC’s bonds, sukuk market rises 4% in 2017

    February 11, 2018 11:58 AM 9

    Mubasher: The aggregate issuance of bonds and sukuk by the GCC's entities amounted to $174.17 billion in 2017, with a rise of 3.96% from a year earlier, Kuwait Financial Centre (Markaz) said on Sunday in a report. The issuances included central banks local issuance, GCC sovereign and corporate issuances, the report titled "GCC Bonds & Sukuk Market Survey"

  • New budget raises debt concerns in America

    February 9, 2018 7:45 PM 10

    Mubasher: The United States has avoided a long government shutdown after regulators agreed on a new budget that was approved by President Donald Trump. However, the new budget included a generous increase in spending, which could add $300 billion to $400 billion to the deficit, according to experts. This comes months after passing another the tax reform

  • UK trade deficit expands in December

    February 9, 2018 10:06 AM 9

    The UK’s trade balance deficit widened significantly in December, driven by a rise in goods imports including fuels from the European Union (EU) countries. Total trade deficit grew by GBP 1.2 billion between November and December 2017, data by the Office for National Statistics (ONS) on Friday showed. During the three months ended December 2017, deficit

  • Google to develop healthcare feature, using artificial intelligence

    February 8, 2018 4:31 PM 12

    Google on Thursday announced the introduction of a new artificial-intelligence feature that develops the healthcare industry and boost the efficiency of diagnosing process. This new mechanism came as the fruit of a collaborative research between by Google, Stanford University, the University of Chicago, and the University of California. The newly-developed

  • Twitter profits beat forecasts in Q4; shares surge

    February 8, 2018 1:52 PM 14

    Twitter Inc. on Thursday reported strong profits and revenues in the fourth quarter of 2017, exceeding analysts’ forecasts. The social media platform logged $91.07 million in profits between October and December 2017 against $167.05 million in losses in the year-ago period. Twitter’s earnings per share (EPS) excluding non-recurring items reached $0.19 per share

  • Germany’s trade surplus cools in 2017, despite exports surge

    February 8, 2018 11:26 AM 13

    Germany’s trade balance surplus shrunk for the first time in 8 years during 2017, although the country’s exports hit a new record high last year. Surplus narrowed to EUR 244.9 billion in 2017, compared with EUR 248.9 billion in 2016, with the latter having marked the highest level since World War II, seasonally adjusted data by Germany’s Federal Statistics

  • ECB should mull trimming QE after September –Weidmann

    February 8, 2018 10:29 AM 15

    The European Central Bank (ECB) should reduce its quantitative easing (QE) programme after September despite the stronger euro and global market volatility, German central bank President Jens Weidmann said Thursday. "Substantial net [asset] purchases beyond the announced amount do not seem to be required" if economic growth "progresses as currently expected

  • Kuwait’s crude oil drops 30 cents on Wednesday – KPC

    February 8, 2018 9:30 AM 14

    Mubasher: The price of Kuwait’s crude oil levelled down by 30 cents to settle at $63.19 per barrel (pb) on Wednesday compared to $63.49 pb on Tuesday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). At the global level, oil prices declined on Wednesday as Nymex crude oil registered its lowest level in four weeks following

  • European equities fall, following US stocks decline

    February 8, 2018 9:13 AM 16

    European indices on Thursday reversed gains seen at the previous session’s close, after US shares closed in red, and while corporate continue reveal their earnings reports. By 09:00 am GMT, the Eurozone’s benchmark Stoxx 600 index slipped by 0.31% to 378.96 ponts, while UK FTSE 100 fell 0.4% to 7,250.33 points ahead of the Bank of England’s (BoE) meeting