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Middle East & Africa


Gulf consolidates, Egypt jumps as global backdrop improves DUBAI: Gulf stock markets consolidated on Thursday after oil prices and global equities steadied, while Egypt jumped on strong economic data and corporate news.Oil moved little on Thursday and Brent crude held above $50 a barrel, stronger than it was when most Gulf stock markets closed on Wednesday. Meanwhile, European stock indexes rose and emerging markets were steady as volatile Chinese markets were closed for holidays.This allowed Saudi Arabia's main stock index to edge up 0.2 percent. The banking sector, up 0.5 percent, was the main support.National Commercial Bank, the kingdom's largest lender, rose 1.6 percent and Al Rajhi, another large bank, was up 0.7 percent.Growth in Saudi Arabia's non-oil private sector rose to a five-month high in August, buoyed by the impact of increasing oil production, a purchasing managers' survey showed on Thursday.However the petrochemical sector, whose profits are especially sensitive to oil prices, edged down 0.5 percent.UAE, EGYPTDubai's ...

Saudi, Egypt rise alongside global markets as oil steadies DUBAI: Stock markets in Saudi Arabia and Egypt rose in early trade on Thursday, tracking global bourses as oil prices, which had moved Middle Eastern equities earlier in the week, were relatively stable. The main Saudi equity index gained 0.7 percent with most stocks positive. The banking sector, up just as much, was one of the main supports. National Commercial Bank, the kingdom's largest lender, jumped 2.0 percent and Al Rajhi, another large bank, was ...
Saudi sinks after oil's plunge, Egypt also soft DUBAI: Saudi Arabia's stock market dropped sharply in early trade on Wednesday after oil prices plunged again, while Egypt's bourse was also weak, tracking global emerging markets. The main Saudi equity index fell 2.7 percent and all sectors were negative. Al Rajhi Bank, down 4.2 percent, was the main drag and another large lender, National Commercial Bank fell 1.9 percent. Rating agency Fitch on Monday revised its outlook on both banks' ratings to negative from ...
Gulf markets join global equity slide on China fears DUBAI: Stock markets across the Middle East fell on Tuesday alongside steep drops in global stock prices because of renewed uncertainty about the state of China's economy.Stock markets fell after data showed China's manufacturing activity had contracted in August at its fastest pace in three years, reinforcing fears of a slowdown in the world's second-largest economy despite a flurry of government support measures.Oil fell more than 4 percent after the Chinese data, giving up some ...
Gulf stocks slide in August over oil price dive KUWAIT CITY: Saudi stocks dived 17.2 percent in August to lead a slide in other Gulf bourses which came under pressure from a sharp decline in oil prices and China's economic woes.Global equities were hammered last week as risk-averse investors dumped shares on spreading panic that the flagging Chinese economy -- the world's second largest -- could spark a new worldwide recession.The August decline in the Gulf wiped out all gains made by its seven ...
Saudi Arabia, Egypt join regional pull-back DUBAI: Stock markets in Saudi Arabia and Egypt fell in early trade on Monday after oil prices dropped and emerging market equities in Asia slipped. The main Saudi stock index fell 1.6 percent, with petrochemicals heavyweight Saudi Basic Industries (SABIC) the main drag. It slid 2.2 percent, in line with the price of oil, which affects the industry's profit margins. Brent crude futures for October delivery have dropped more than $1 or 2 percent on ...
Nigerian stocks recover, led by banking and energy LAGOS: Nigerian stocks showed signs of recovery on Friday, gaining more than one percent after a strings of losses caused by falling oil prices and weakening growth in Africa's biggest economy. Nigeria's stock index, which has the second-biggest weighting after Kuwait on the MSCI frontier market index, rose 1.26 percent to 28,577 points in early trade, lifted mainly by gains in banking, breweries and energy firms stocks. Shares of First Bank holdings rose 9.26 percent ...


Index Closing Chg%
Arrow DJIA 16,102.38 1.66
Arrow Nasdaq 4,683.92 1.05
Arrow S&P 1,921.22 1.53
Arrow FTSE 6,042.92 2.44
Arrow DAX 10,038.04 2.71
Arrow CAC-40 4,523.08 2.81
Arrow Nikkei 17,792.16 2.15
Arrow H.Seng 20,840.61 0.45
Arrow Sensex 25,201.90 2.18

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln