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rise oil prices likely to be temporary, El-Erian cautions

As it stated in Together, OPEC & non-OPEC countries established a floor from which oil prices could bounce. With the pickup in universal development & the emergence of geopolitical uncertainties (which could constrain product in some oil-producing countries), oil prices have rebounded to above $60 per barrel. In fact, the …

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New-business profit rose to 71 million in UK insurance

Jackson, Prudential’s U.S. business, also posted a 26 percent rise in new-business profit to 224 million pounds, while the UK insurance arm’s new-business profit rose 15 percent to 71 million. Bernstein analysts said the impact on Prudential’s solvency capital ratio, showing a 68-percentage-point drop to 103 percent, was “reasonably-sized”. Regarding …

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The dollar hit a one-month high against the yen on Tuesday

TOKYO The dollar hit a one-month high against the yen on Tuesday, lifted by Treasury yields which surged after U.S. Treasury Secretary Steven Mnuchin commented on the possibility of ultra long-term bond issuance. The dollar was boosted as long-term Treasury yields soared to multi-week highs after Mnuchin reiterated his view …

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Swedbank AB posted a rise in net profit for the first quarter

Get instant notifications from Economic Times Allow Not now You can switch off notifications anytime using browser settings. Never miss a great news story! The bank said its net profit for the three months ending March 31 totaled 5.12 billion Swedish kronor ($577.2 million), compared with SEK4.31 billion for the …

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