US economic growth lost steam in the first quarter this year, said the Commerce Department, as the possibility of a mild recession brews while consumer spending weakens. Consumption provided a boost to the world's biggest economy, giving it a strong start to 2023, but banking sector turmoil and rising interest...
US inflation now ‘broad-based,’ top Fed official says
Signaling its resolve to keep fighting price rises, the US central bank has said that interest rates may need to increase further, and remain high, to control inflation. The Fed has raised its benchmark lending rate nine times in a row to tackle inflation, which remains well above its long-term...
ADX partners with FTSE Russell
The two have co-developed the FTSE ADX Growth Market Index.
China slashes lending rates to spur economic growth
Battered by the government’s zero-Covid policy and a slump in the property market, China’s central bank cut benchmark loan rates in order to boost economy. The one-year Loan Prime Rate was reduced from 3.7 percent to 3.65 percent, according to the People's Bank of China.UAE to issue dual-tranche dollar benchmark size bonds
The UAE government has announced it will issue a dual-tranche US dollar benchmark size bonds with a 10-year tranche and a 30-year Formosa tranche. The 10-year tranche will be listed on London Stock Exchange (LSE) and Nasdaq Dubai, and the 30-year tranche will be listed on London Stock Exchange (LSE),...
Abu Dhabi Exchange and FTSE Russel create new benchmark indices
The Abu Dhabi Securities Exchange (ADX) and FTSE Russell have partnered to develop co-branded indices, supporting the exchange’s recently launched derivatives market and bringing the exchange’s stock performance measures into line with global standards. ADX said that as of 10 January 2022, the FTSE ADX General Index is replacing the...
