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S&P 500 in longest winning streak since 2004

New York: The Standard & Poor’s 500 index closed above 1,500 on Friday for the first time since the start of the Great Recession in 2007, lifted by strong earnings from Procter & Gamble and Starbucks.

The S&P 500 rose 8.14 points to 1,502.96. It was the eighth straight gain, the longest winning streak since November 2004.



Euro hits 11-month high as confidence perks up

New York: The euro rose against the dollar to a level last seen 11 months ago on Friday, thanks to unexpectedly strong ECB loan repayments and an upbeat confidence report in Eurozone powerhouse Germany.

The yen meanwhile hit multi-year lows against the dollar and the euro a day after Japan’s vice-finance minister indicated the new stimulus-focused g


Gold faces biggest weekly drop this year

New York: Gold notched its biggest weekly drop this year as an improving global economic outlook sent the safe-haven metal below a key technical support.

Bullion fell below its 200-day moving average, which it had held for the most part in the last five months, as US equities measured by the S&P 500 rose for an eighth day for its


Upbeat mood in Indian equities continues

Indian shares are on a roll, riding the crest of optimism about improving prospects for an economy that has had a torrid time for over a year. The upbeat mood is best reflected among foreign portfolio investors who have ploughed in a record $3.5 billion so far in January, with more than 90 per cent of the amount going into equities.

Earnings of


Enhancing Arab economic cooperation

Needless to say, the third version of the Arab Economic, Development and Social Summit held in Riyadh last week confirmed the determination of the 22 Arab nations of enhancing their bilateral economic cooperation on different fronts. The summit differs from regular meetings of the Arab League by solely focusing on ways of strengthening economic


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Abatera Tours is an expert destination management company that covers all aspects of inbound tourism business including FIT Travel, Leisure groups and Meetings, Incentives, Conferences & Events (MICE)...

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