The biggest gain in consumer spending in a year probably helped the U.S. economy keep expanding in the first quarter even as fuel costs climbed, economists said before a report this week.
Gross domestic product, the value of all goods and services the nation produced, rose at a 2.5 percent annual rate after advancing 3 percent in the previous three months, according to the median forecast of 72 economists surveyed by Bloomberg News before the Commerce Department’s April 27 release. Consumer purchases that account for about 70 percent of the economy climbed by the most since the end of 2010, the survey showed.
Gulf states refine approach
Arabian Gulf states are expanding their refineries to export more value-added products, to develop a downstream industry and diversify income away from oil and gas, and to meet rising local demand fo
Australian minister to push GCC trade agreement
Australia’s Minister for Trade, Andrew Robb, is expected to push the UAE, Saudi Arabia and Kuwait on finalising a free-trade agreement (FTA) with the Gulf Cooperation Council (GCC) on a visit to the
GCC corporates post 6% growth in second half
The GCC’s corporates posted a six per cent growth in the second half of 2014 compared to the same time in the previous year, with total earnings in the period coming in at $32 billion (Dh117.4 billio