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Middle East & Africa


Gulf markets sluggish, EFG Hermes leads Egypt rebound DUBAI: Gulf stock markets diverged on Monday on mixed corporate news, while Egypt rebounded on bullish comments by government officials and executives and signs that the planned parliamentary election will go ahead soon despite legal issues.Saudi Arabia's main index climbed 0.4 percent as property stocks dominated trading and Makkah Construction and Development was the main support, jumping 4.8 percent. The company, which which uses a different fiscal calendar from most listed firms, is expected to post quarterly earnings this month.Retailer United Electronics surged 7.6 percent. The company has proposed no cash dividend for the fourth quarter but plans to issue bonus shares.Market players expect its sales to jump in the first quarter after King Salman ordered all government bodies to pay their staff two months' salary as a bonus at the end of January, boosting consumer spending power. Many state-linked companies paid similar bonuses.Al Rajhi Bank fell 0.4 percent as ...

South African stocks decline, Bidvest under pressure JOHANNESBURG: South African share prices pulled back on Monday after disappointing earnings such as Bidvest's, while investors took money off the table following a strong rally.Johannesburg's Top-40 index hit a life high last week but sentiment dampened with the finance minister's introduction of budget measures that could hurt South Africans' purchasing power.The benchmark index lost 0.8 percent to 46,774, while the wider All-share index shaved off 0.7 percent to 52,953."The market was taking a little ...
Egypt rebounds, Saudi Arabia flat DUBAI: Egypt's stock market rebounded on Monday after bullish comments from government officials and executives and signs that the planned parliamentary election will go ahead soon, despite a court ruling that called its timing into question. Saudi Arabia's bourse was nearly flat.The main Cairo index climbed 1.4 percent, largely because of investment bank EFG Hermes, which surged 5.6 percent.Chief executive Karim Awad said on Sunday that EFG Hermes was studying investments in renewable energy and ...
Gulf markets mixed, Egypt falls after election setback DUBAI: Gulf stock markets were mixed on Sunday as trading volumes remained low, while Egypt fell after a court ruling that was likely to delay the parliamentary election previously scheduled to begin this month.Saudi Arabia's main index climbed 0.4 percent after oil prices rose on Friday and posted their first monthly rise since June, although the kingdom's petrochemicals sector gained just 0.1 percent on Sunday.Al Tayyar Travel Group was one of the main supports, jumping ...
Gulf markets mixed in thin trade DUBAI: Gulf stock markets were narrowly mixed in slow early trade on Sunday as Oman's bourse reported a technical glitch and Qatar was closed for a bank holiday. Dubai's index slipped 0.2 percent, largely because of lender Emirates NBD, which fell 2.2 percent. Builder Arabtec Holding edged down 0.6 percent after rising 1.9 percent in the previous session.Index compiler MSCI increased the stock's weighting in its emerging markets index and passive funds apparently adjusted their ...
Kenyan shares lifted by KenGen, shilling steady NAIROBI: Kenya's benchmark index rose on Friday, driven by a rally in the shares of the country's main power producer KenGen a day after it reported first-half pretax profit had more than doubled.The shilling was stable.KenGen, which is 70 percent state-owned, said its profit was buoyed by higher electricity sales and also predicted significant full-year growth.Its share price leapt 14 percent to 12.05 shillings."KenGen, that was actually a huge jump," said Agnes Achieng, a research ...
South African stocks up, British American Tobacco at record high JOHANNESBURG: South African stocks edged up on Thursday led by Gold Fields which rose along with bullion prices, while British American Tobacco scaled new highs after reporting higher full-year earnings.British American Tobacco, which has a primary listing in London, slightly beat market expectation for 2014 sales despite a shrinking industry. Its Johannesburg listed shares closed at a record high of 672.36 rand, up 2.17 percent.Gold Fields rose 4.85 percent as the spot price climbed on ...


Index Closing Chg%
Arrow DJIA 18,132.70 0.45
Arrow Nasdaq 4,963.53 0.49
Arrow S&P 2,104.50 0.30
Arrow FTSE 6,946.66 0.04
Arrow DAX 11,401.66 0.66
Arrow CAC-40 4,951.48 0.83
Arrow Nikkei 18,797.94 0.06
Arrow H.Seng 24,823.29 0.32
Arrow Sensex 29,220.12 1.65

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln