FactSet

German inflation inches up in August: preliminary data

FRANKFURT AM MAIN - AFP

The pace of inflation in Germany increased slightly in August, preliminary official figures showed Wednesday, inching closer towards the European Central Bank's eurozone-wide target. Consumer prices rose by 1.8 percent year-on-year this month in Europe's largest economy, federal statistics authority Destatis reported. August's rate of price growth was 0.1 percentage points higher than in July, in line with predictions fromRead more

German economy grows by 0.6% in second quarter

Frankfurt am Main - Muslimchronicle

The German economy grew by 0.6 percent in the second quarter, slightly slower than expected as exports cooled, official data showed Tuesday. The provisional figure, adjusted for price, seasonal and calendar effects, was lower than the 0.7 percent forecast by analysts surveyed by Factset. The federal statistics authority Destatis also revised upwards its first-quarter figure, saying gross domestic product (GDP)Read more

SAP lifts forecasts on strong second-quarter revenue

Berlin - AFP

German software maker SAP on Thursday upgraded its revenue forecast for the full year, as cloud computing boosted sales in the second quarter, while profits fell. Between April and June, SAP's net profit fell by 18 percent compared with the same period in 2016, to 666 million euros ($767 million). Operating, or underlying, profit dropped 27 percent to 926 millionRead more

US businesses add 246,000 jobs

WASHINGTON - Arab Today

US companies ramped up hiring in January, adding the most new workers since June, according to a private survey. Payroll provider ADP said Wednesday that businesses added 246,000 jobs last month, up from 151,000 in December. The hiring was widespread, with the construction, manufacturing, health care and shipping industries all adding jobs at a solid pace. The figures suggest thatRead more

Samsung’s profit up 50% despite Galaxy fiasco

SEOUL - Arab Today

Samsung Electronics Co. said Friday that its profits in the last quarter of 2016 surged 50 percent to the highest level in more than three years, despite the Galaxy Note 7 fiasco. Analysts had expected Samsung’s profits to surge thanks to its mainstay semiconductor business, but the result surpassed even the most optimistic forecasts. The semiconductor division cashed in onRead more