UK retail sales slide on ‘Beast from East’ icy weather

Britain suffered freezing temperatures in late February, and to a lesser extent last month, as blasts of icy weather from Siberia engulfed Europe. (AFP)
Updated 19 April 2018
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UK retail sales slide on ‘Beast from East’ icy weather

LONDON: British retail sales slid 1.2 percent in March, as “Beast from the East” freezing weather sliced demand for car fuel but boosted online purchasing, official data showed Thursday.
“The month-on-month growth rate fell by 1.2 percent due to a large fall of 7.4 percent from petrol sales; a likely consequence of adverse weather conditions, which impacted travel,” the Office for National Statistics (ONS) said in a statement.
Analysts’ consensus forecast had been for a drop of 0.6 percent.
The ONS added that “department stores were the only sector to show positive growth in March at 0.8 percent, with feedback from retailers suggesting that online offers for Mothering Sunday and Easter boosted Internet sales more than usual during the adverse weather.”
Britain suffered freezing temperatures in late February, and to a lesser extent last month, as blasts of icy weather from Siberia engulfed Europe.


Saudi finance ministry sells 3.95 bln riyals of domestic sukuk

Updated 19 min 24 sec ago
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Saudi finance ministry sells 3.95 bln riyals of domestic sukuk

RIYADH: Saudi Arabia’s finance ministry sold 3.95 billion riyals ($1.05 billion) of domestic sukuk in its monthly sale by re-opening an issue originally made last month, the ministry said.
It sold 3.35 billion riyals of five-year sukuk, 350 million riyals of seven-year and 250 million riyals of 10-year.
Last month, the ministry sold 5.0 billion riyals of domestic sukuk.