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South African stocks rise, Brait up on Virgin Active bid JOHANNESBURG: South African stocks rose on Thursday with investment firm Brait leading the blue-chip index higher after investors cheered its bid for a stake in fitness chain Virgin Active.Brait's shares advanced by 4.3 percent to 90.45 rand on its offer to buy a controlling stake in the fitness chain jointly owned by the entrepreneur Richard Branson and CVC Capital Partners, with gyms across nine countries.Nic Norman-Smith, a fund manager at Lentus Asset Management, said although the bid to pay 682 million pounds ($1 billion) for 80 percent stake in Virgin Active was not "particularly cheap", the Virgin brand could make the deal pay off eventually.Shares in Anglo American Platinum were also among the gainers, rising by 3.5 percent to 296 rand, while SAB Miller added 1.4 percent to end at 650.91 rand."Overall the organic growth has done well and that's why SAB is well on its gain," said Julian Masson, ...

Saudi bourse to open to foreign traders for first time RIYADH: The Saudi stock market will open on June 15 to direct trading by foreign companies for the first time, in a move likely to attract billions of dollars, regulators said Thursday.Until now, only companies registered in Saudi Arabia or another of the six Gulf Cooperation Council nations have been allowed to buy and sell shares directly on the Saudi market, the Arab world's largest.However, foreigners were allowed to trade indirectly through Saudi and GCC-based ...
South Africa's rand dips as power crisis, attacks on foreigners persist JOHANNESBURG: South Africa's rand weakened on Wednesday as power supplier Eskom implemented widespread electricity cuts for the fourth straight day, while attacks against foreign nationals also weighed on sentiment. By 1500 GMT the rand has slipped 1.42 percent to 12.1870 per dollar, near its softest level in two weeks. Against the euro, the local unit slipped more than one percent to a one week-low of 12.9543. The currency was equally weak against the British pound, ...
Dubai stocks jump after strong Q1 earnings DUBAI: Dubai's bourse posted its biggest daily gain in 10 weeks on Wednesday after strong first-quarter earnings from Dubai Islamic Bank and real estate developer Deyaar.The Dubai index jumped 3.0 percent on its heaviest trading volume this year, hitting a two-month closing high of 3,942 points.Dubai Islamic Bank (DIB) was the main support, surging 5.3 percent to 6.75 dirhams in active trade. DIB's net profit attributable to shareholders rose 33.9 percent year-on-year to 816.7 million ...
South Africa's stocks slip, Naspers gives back gains JOHANNESBURG: South African stocks snapped a five-day winning streak on Tuesday, dragged down by e-commerce firm Naspers, which slid after the head of its Chinese money-spinner Tencent sold a large stake in the firm. Naspers, the most expensive African company, fell 5.6 percent, after scaling record levels on Monday and tracking Tencent's decline in China. Tencent slumped after the chief executive reduced his holdings in China's biggest social networking and online entertainment firm. But analysts ...
South African stocks rise for fifth session, Naspers at new peak JOHANNESBURG: South African stocks rose for the fifth straight session on Monday, lifted by Naspers Ltd whose shares surged to a record high as well as a jump in Sasol's shares after the global oil price recovered.Naspers, Africa's largest company by market value, jumped 1.8 percent to 1,980 rand after hitting an all time high of 2,029 rand. Shares in the media and e-commerce firm have gained about 90 percent over the last 12 months.Naspers ...
Saudi Arabia stock edges up as oil rallies DUBAI: Saudi Arabia's stock market rose moderately in early trade on Monday, supported by positive corporate news and firmer oil.The benchmark climbed 0.5 percent as most stocks rose, offsetting negative influence from heavyweight Saudi Basic Industries, which dropped 2.7 percent as it went ex-dividend.Petrochemical firm PetroRabigh surged 4.8 percent after announcing it would ask shareholders to approve raising its capital via a rights issue worth about 7.04 billion riyals ($1.88 billion).The company has yet to ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyApril 16, 2015
Reserves $16.818 bln