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.
NBAD Issues $465m convertible bonds
The National Bank of Abu Dhabi (NBAD) has issued $465m senior unsecured convertible bonds, convertible into ordinary shares of NBAD.
The offering, due in 2018, was increased from an initial
Markaz profits reach KD2.56m in Q1 2013
Kuwait Financial Centre (Markaz) announced a net profit of KD2.56m for the first quarter ending 31st March 2013, a net profit of 5 fils per share as compared with a net profit of KD2.82 during the sa
Arabtec wins $108m Saudi hospital contract
A subsidiary of Dubai-based contractor Arabtec Holding has won a SR404-million ($107.7 million) contract to build a hospital in Saudi Arabia, the company said in a statement on Saturday.
KFH-Research: Participation banks growing rapidly in Turkey
KFH-Research issued a report stating that participation banks (Islamic banks) in Turkey form 5.2% of banking assets and will reach 10% by 2018, since those banks surpass the rest of the banking secto
ADS Securities signs MoU with Asian conglomerate Tune Group
In a landmark strategic alliance, ADS Securities, the Abu Dhabi-based brokerage and financial services trading company signed a Memorandum of Understanding (MOU) with Asian conglomerate Tune Group th