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Middle East & Africa

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Global retreat may undermine region's rebound DUBAI: A fresh decline in U.S. and Asian equities and global oil prices may take the steam out of Middle Eastern stock markets' rally on Thursday, offsetting the positive effect of generally strong earnings reported this week.Asian shares sagged on Thursday after a retreat on Wall Street and falling crude oil rekindled investor anxiety over slowing global growth. Brent crude fell for a second session running, hitting a one-week low just above $84 a barrel as a sharp rise in U.S. crude inventories reinforced oversupply concerns.Lower crude prices have already dented third-quarter profits at some petrochemical companies in the Gulf by devaluing their inventory, as indicated by Saudi Arabia's Rabigh Refining and Petrochemical Co in its earnings report on Wednesday, and could cause more paper losses in the current quarter.Overall, however, oil prices have more influence on retail investors' sentiment than actual corporate earnings in the Gulf.Sentiment remains shaky, according ...

Kuwait Investment shares jump on privatisation plan DUBAI: Shares in Kuwait Investment Co surged on Thursday after the KuwaitInvestment Authority (KIA) said it would offer its stake in the firm to the public in the first half of 2015, as it resumes a programme of selling off stakes in local listed companies.Kuwait Investment Co jumped 7.6 percent while Kuwait's main stock index rose 0.2 percent, bucking a bearish trend across the region.The KIA owns 76.2 percent of Kuwait Investment Co, a financial ...
Qatar edges up on Q3 results, UAE bourses mixed DUBAI: Qatar's stock index edged up in early trade on Tuesday after several local companies reported solid third-quarter earnings, while markets in the United Arab Emirates were mixed. The Doha benchmark added 0.6 percent and Islamic lender Masraf Al Rayan, up 1.4 percent, was the main support. The bank reported a 22.6 percent rise in net profit for the third quarter on Monday, broadly in line with forecasts.Oil rig provider Gulf International Services added 1.6 ...
Markets may keep following global lead, investors cautious DUBAI: Bourses in the Middle East look likely to continue following the lead of European equities on Tuesday after mixed signals from other global markets. Markets across the region tumbled last week as Western equities came under pressure from concerns about global growth, and have since moved largely in line with key world indexes.Wall Street marked solid gains overnight with the S&P 500 index rising 0.9 percent, but Asian stocks have stuttered on Tuesday morning ...
UAE, Qatar continue cautious recovery DUBAI: Stock markets in the United Arab Emirates and Qatar edged up in early trade on Monday, continuing their recovery from last week's sharp decline, while other bourses in the region moved very little.Dubai's index rose 1.7 percent as heavyweight Emaar Properties added 1.8 percent and dominated trading volume.Most stocks in the emirate posted gains, but analysts remained cautious. "The rebound we're experiencing is still linked to international markets' performance, which puts it in jeopardy ...
Markets may consolidate after big rebound; investors still cautious DUBAI: Middle East stock markets may consolidate on Monday after most bourses rebounded on Sunday, catching up with global equities, but then edged down from their intra-day highs.Sunday's rebound established at least a short-term bottom for most regional markets after heavy losses last week, and showed that some retail investors are still willing to buy stocks.But the past week also underlined that investors in the region are for the moment taking their cues from Western ...
Dubai stock jumps after global markets rebound; Arabtec surges DUBAI: Dubai stock index jumped in opening minutes on Sunday after global markets rebounded on Friday and shares in builder Arabtec Holding surged as it moved closer towards starting work on a huge project in Egypt.The benchmark rose 4.1 percent while Arabtec was up 9.2 percent. Heavyweight Emaar Properties added 3.5 percent.Arabtec said on Sunday it expected soon to conclude the final agreement with Egyptian authorities to begin work on a $40 billion project to ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
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Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln