Current Affairs Global - 8 May 2014

1. Famous business magazine, Fortune published its annual list of the world-s 2000 largest and most powerful public companies yesterday. Forbes -Global 2000- is a comprehensive list of the world-s largest, most powerful public companies, as measured by revenues, profits, assets and market value.

US retains its dominant positions with 564 companies among the Global 2000 list followed by Japan with 225 companies. China has world-s top three biggest public companies and Chinese companies secured 5 places in the list of top 10.

2. China-s exports jumped by 0.9% to USD 188.54 billion in April compared to same month last year while imports increased by 0.8%. Strong rebound in exports and imports compared to previous month of March increases optimism about the world-s second largest economy. Exports dropped by 6.6% in the previous month.

3. The European Central Bank (ECB) has kept its benchmark interest rate unchanged at record low of 0.25% in spite of inflation falling to 5-year low in April. Low Inflation across euro zone has increased probability for rate cuts in order to reduce probable deflation risk. The ECB has kept the interest rate unchanged since November 2013.

Bank of England has also kept Interest rate unchanged at 0.5% during its monetary policy review today. The interest rate has been kept at record low since last 5 years. The Bank also kept its 375 billion pound quantitative easing (QE) programme unchanged. The Organisation for Economic Co-operation and Development (OECD) has increased UK-s growth projection to 3.2% in 2014 compared to earlier projection of 2.4%.