IMF Reduces U.S. Outlook for 2017
The International Monetary Fund reduced its outlook on the world biggest economy, the United States, to 2.1% from 2.3% in its World Economic Outlook in April 2017. The outlook is clouded by important medium-term imbalances according to the Fund. The IMF highlighted that the economic model is not working as well as it could in generating broadly shared income growth. Plagued by public debt and a moderately overvalued dollar according to the IMF, the external position is moderately weaker than implied by the medium term fundamentals and desirable policies. The nation’s current account deficit is expected to be around 3%
DCOVE had a satisfactory year with a positive outlook
Introduction: At Dolphin Cove’s Limited’s (DCOVE) Annual General Meeting (AMG), Director Stafford Burrowes opened proceedings by indicating that the company had decided to adopt the United States dollar as its financial currency instead of the Jamaican dollar. Mr Burrowes explained the rationale behind the decision being that it allowed the company to have a constant unit of measurement that the USD offers compared to the Jamaican dollar. Moving on Mr Burrowes labelled the 2016 financial year as satisfactory one for the company. Financial Highlights: DCOVE reported Total Revenue of US$15.27 million in 2016, a 1% increase when compared to the
Daily Market Summary- June 26, 2017
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