Euro area economic sentiment rises to the highest since 2007

  • 27/04/2017 11:20 AM
  • Ahmed Mamdouh
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Euro area economic sentiment rose to the highest level in nearly 10 years in April, data from the European Commission showed Thursday.The index of executive and consumer sentiment climbed to 109.6 this month, the highest record since August 2007, from a revised of 108 a month earlier, coming above forecasts of 108.2.The improvement in the index reflects the progress among all sectors and eas...

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Are Europeans willing to go cashless if given the option?

  • 26/04/2017 09:39 AM
  • Ahmed Mamdouh
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A recent survey by ING showed that one in three Europeans prefer to go cashless if given the option, raising expectations of seeing more digital future in Europe. The survey, which tracked 15,000 people, showed that twenty-one percent of people rarely carried cash in their wallets over at least year, where the majority predicted they would not need to do so in the coming 12 months.“While half...

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UK public deficit narrows to the lowest level in decade

  • 25/04/2017 11:17 AM
  • Ahmed Mamdouh
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U.K.’s annual public deficit narrowed to the lowest level in almost 10 years, data from the Office of National Statistics (ONS) showed on Tuesday. Public sector net borrowing (excluding public sector banks) narrowed to 52 billion pounds in the 2016-2017 financial year, which is 28 percent below the previous year. That’s the lowest annual deficit since the 2007-2008 financial crisis.In March,...

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Germany’s business confidence climbs to six-year high in April

  • 24/04/2017 14:06 PM
  • Ahmed Mamdouh
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Germany’s business confidence climbed to the highest level in nearly six years in April, adding to further signs the economy would continue on its hot form in the second quarter, data from the Munich-based Ifo institute showed Wednesday. The business climate index scored 112.9 this month, the highest level since July 2011, up from a revised of 112.4 in March. Economists had penciled a rise to...

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Japan’s exports climb at fastest pace in more than two years

  • 20/04/2017 10:37 AM
  • Ahmed Mamdouh
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Japan’s exports climbed to the highest level in more than two years in March, amid improvement in global demand, where imports also rose more than predicted. From a year ago, Japan’s overseas sales advanced 12 percent in March, continuing to rise for a fourth straight month, ending the first quarter in a good shape. Imports advanced 15.8 percent, the strongest gain in more than three years. A...

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Major Central Banks’ Assets Balance Sheets At Least Doubled Since 2008

  • 19/04/2017 09:33 AM
  • Ahmed Mamdouh
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World central banks have spent trillions on asset purchases, known as quantitative easing, to salvage their economies from the global financial crisis. The three major central banks, the Federal Reserve, European Central Bank and Bank of Japan, have a combined balance sheet of assets worth $13 trillion, which at least have doubled since 2008. The huge $13 trillion balance sheet is equal to t...

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World’s largest currency reserves holders relative to economy’s size

  • 18/04/2017 11:23 AM
  • Ahmed Mamdouh
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The infographic shows the ranking of top currency reserves’ holders relative to the economy’s size, according to Bank of Israel’s data. Switzerland came in the first place, followed by Singapore and Czech Republic, while Israel appeared in the fourth place.

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China’s exports rise to the highest in more than two years in March

  • 13/04/2017 10:11 AM
  • Ahmed Mamdouh
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China recorded a trade surplus in March, as exports soared to the highest level in more than two years and imports moderated. In dollar terms, exports advanced 16.4 percent in March from a year earlier, while imports surged 20.3 percent, resulting in a trade gap of $29.93 billion. In February, overseas sales slipped 1.3 percent while imports climbed 38.1 percent. Calculations in terms of yua...

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Fed members’ outlook improves, paving the way for further tightening

  • 06/04/2017 11:53 AM
  • Ahmed Mamdouh
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Federal Reserve members continues to see the risks surrounding the U.S. economy “broadly balanced,” but the total number of members who expect a better than expected outcomes for both inflation and employment rose to the highest level since January 2012.Four policymakers foresee upside risks to inflation, compared to 3 in December, while only one member saw risks tilted to the downside and th...

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Spain jobless rate falls to lowest since 2010

  • 04/04/2017 12:12 PM
  • Ahmed Mamdouh
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Spain’s jobless rate fell to the lowest level since 2010 in March, marking its second consecutive monthly decline.Labour Ministry data released Tuesday signaled a drop by 48,500 in March, following a fall by 9,400 in February. Analysts had predicted a drop by 41,200.The 12-month fall reached 392,000, which is the best March record ever.Despite the recent progress in Spain’s labor market, une...

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Euro area manufacturing PMI rises to the highest since 2011

  • 03/04/2017 11:01 AM
  • Ahmed Mamdouh
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U.K. manufacturing sector showed a slowdown in the pace of expansion for a third straight month in March, where investors will keep their eyes on construction and services data due later in the week. Manufacturing PMI eased to 54.2 last month from a revised of 54.5 in February, missing analysts’ projections of 55.1. Any reading below 50 means contraction and the opposite is true. Later in th...

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Spain’s inflation slows for the first time in 11 months

  • 30/03/2017 09:50 AM
  • Ahmed Mamdouh
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Spain’s inflation slowed for the first time in 11 months in March on the back of the retreat in oil prices over the month. Annual consumer price index cooled to 2.3 percent in March from 3.0 percent in February, compared to analysts’ forecasts of 2.6 percent.So far, crude oil has dropped 8.4 percent in March.Euro area CPI may retreat to 1.8 percent in March from 2.0 percent in February, data...

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Top UK industries for European workers

  • 29/03/2017 11:41 AM
  • Ahmed Mamdouh
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After Britain’s trigger of Article 50, which means starting negotiations for leaving the EU bloc, it is important to know top U.K. industries for European workers, as Theresa May plans to put restrictions on immigration. “With 2.2 million Europeans working in the bloc, however, bankers, telecommunications companies and farmers are warning the government not to squeeze too hard on a source...

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How much did the SNB spend prevent the franc’s strength?

  • 23/03/2017 06:49 AM
  • Ahmed Mamdouh
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The Swiss National Bank (SNB) is one of the central banks famous of intervening in the currency market to prevent the franc from strengthening. So, how much did it spend last year to keep the franc’s value under control? The SNB spent 67.1 billion francs on foreign currencies purchases last year, following a total of 86.1 billion francs spent in 2015. In 2012, the SNB bought foreign currencies wor...

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Japan’s exports hit two-year high in February

  • 22/03/2017 07:42 AM
  • Ahmed Mamdouh
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Japan’s exports climbed to the highest level in two years in February, amid improvement in global demand, underpinned by higher sales in China. From a year ago, Japan’s overseas sales advanced 11.3 percent in February, continuing to rise for a third straight month, while imports soared 1.2 percent. Accordingly, the trade surplus came in at 813.4 billion yen, beating median estimates of 807.2 billi...

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OECD nations with the highest government spending

  • 20/03/2017 07:15 AM
  • Ahmed Mamdouh
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The graph shows that France tops OECD economies for government spending as a percentage of gross domestic product.

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China starts the year on strong footing

  • 14/03/2017 09:21 AM
  • Ahmed Mamdouh
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Data released on Tuesday showed that China started this year on strong footing, as industrial production, fixed investment and retail sales showed progress. Industrial production gained an annualized 6.3 percent in the first two months of 2017, up from a prior of 6.0 percent. Analysts had predicted a 6.2 percent increase. During the same period, fixed investment edged up 8.9 percent from 8.1 perce...

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Italy’s industrial production reports sharpest fall in more than five years

  • 13/03/2017 09:05 AM
  • Ahmed Mamdouh
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Italy’s industrial production reported the strongest fall in more than five years in the month of January, according to statistics agency Istat data released Monday. Industrial output plummeted 2.3 percent in January after advancing 1.4 percent in December, compared to analysts’ projections of 0.6 percent drop. That was the first monthly fall in four. In September 2011, industrial production fell...

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UK Budget: Borrowing will retreat over the next five years

  • 09/03/2017 07:38 AM
  • Ahmed Mamdouh
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The United Kingdom’s budget announced on Wednesday included good news about borrowing, as U.K. Chancellor of the Exchequer revised up tax receipts, which would mean lower borrowing for the government over the coming five years. The budget revision for medium-term fiscal outlook by was the first since early 2014.

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China records first trade deficit in 3 years on drop in exports

  • 08/03/2017 08:44 AM
  • Ahmed Mamdouh
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China recorded its first trade deficit in three years in February, as exports slipped on the back of the long Lunar New Year holidays. Exports dropped 1.3 percent in February from a year earlier, while imports climbed 38.1 percent, resulting in a trade gap of $9.15 billion. Trade surplus with the United States retreated to $10.42 billion, the lowest record in three years, while crude oil imports s...

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