The 1st Threadneedle Dubai Gold Cup had some of the best polo professionals and horses taking part at the Dubai Polo and Equestrian Club on Friday, 12 March. The event is aiming to rank alongside others, already established championships held in UAE, such as the Dubai Desert Classic, Dubai Tennis Championships and the Dubai World Cup. The 1st Threadneedle Dubai Gold Cup will become very important sporting event on Dubai’s calendar, as there are very few Gold Cups held all over the world, according Mohammed Al Habtoor, “in England, in Spain and at Palm Beach”. Now, the Dubai Gold Cup joined the list.

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The latest BofA Merrill Lynch Global Research report, titled “BofA ML Economics – Global Economic Weekly: Cooling Core” dated 8 March, authored by the Global Economics Team at BofA Merrill Lynch Global Research focuses on backdrop in inflation worldwide. According the report, global economy continues to motor along in a modest recovery despite the distortions that have been introduced in the global data recently. Most regions continue to participate in a broad-based rebound in the manufacturing sector.

Important chapters of the report cover economic developments around the world.

Global Cooling core
A key part of the global economic forecast is that spare capacity will cause core inflation (ie, excluding food and energy) to continue to drop in most countries. This benign inflation backdrop means most central banks can focus on growth, delaying any tightening well into the economic recovery. Two years ahead, with core inflation well below target, a number of central banks will be in the odd position of seeking to boost inflation.

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