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Middle East & Africa


UAE markets may reopen with firm tone DUBAI: United Arab Emirates stock markets may reopen with a firm tone on Thursday after three days of Eid holidays, while other major Gulf markets will stay closed until next week.On their last day of trade before the holidays, Dubai's index rose 1.9 percent and Abu Dhabi gained 1.1 percent on strength in banks, after several large ones reported healthy earnings, and property developers.Emaar Properties is expected to announce second-quarter earnings in the next few days, which could spur interest in the stock.In another positive signal for the Dubai market, property developer Damac, now listed in London, announced on Wednesday that it would let investors convert its Global Depositary Receipts into shares that would be listed in Dubai.Global markets had a modestly positive tone while the UAE markets were closed; MSCI's broadest index of Asia-Pacific shares outside Japan is down 0.4 percent on Thursday morning but still up 0.4 percent ...

Mideast stocks blue chips lift Saudi but rally slows DUBAI: Saudi Arabia's bourse edged up in early trade on Wednesday on the back of the blue chips which are seen as most likely to be bought when the market opens to direct foreign investment. But rises slowed after Tuesday's leap.The main Saudi index rose 0.9 percent in the first hour of trade. Petrochemicals giant Saudi Basic Industries (SABIC) added 3.0 percent and Al Rajhi Bank, the largest listed bank, gained 1.5 percent.The benchmark jumped ...
Qatar edges up on bullish property prices; UAE slips DUBAI: Qatar's bourse edged up in early trade on Tuesday after the country's central bank said property prices had climbed to a new peak, while stock markets in the United Arab Emirates slipped.Qatar's benchmark rose 0.7 percent. Property developers Barwa Real Estate and United Development added 2.4 and 2.2 percent respectively.The real estate price index tracked by Qatar's central bank hit a record high in June 2014, jumping 29 percent year-on-year, according to the central ...
Saudi Arabia to open $530bn bourse to foreigners in early 2015 RIYADH/DUBAI: Saudi Arabia plans to open its stock market, the Arab world's biggest, to direct investment by foreign financial institutions in the first half of next year, the market regulator said on Tuesday.The opening of the Saudi market, capitalised at about $530 billion, is one of the most keenly awaited economic reforms in the world's biggest oil exporter. The bourse would be one of the world's last major exchanges to begin welcoming foreign money."The market ...
Saudi bourse at 6-year high on foreign investment news DUBAI: Saudi Arabia's bourse jumped on Tuesday after the kingdom's financial regulator said it would open the stock market to direct investment by foreign financial institutions in the first half of 2015.The main index rose 3.2 percent, its biggest rise since April 2012, to a fresh six-year high of 10,062 points in the first hour of trade.Petrochemical giant Saudi Basic Industries (SABIC) , one of the big blue chips which foreign investors would be expected ...
UAE markets recover; Qatar edges down DUBAI: Dubai's bourse recovered from a sharp drop caused by builder Arabtec on Monday morning, while stocks in Qatar edged down.The Dubai index was nearly flat by mid-session after dropping as much as 4.3 percent shortly after the opening. Arabtec was still down 9.0 percent, but property developer Deyaar rose 3.4 percent, conglomerate Dubai Investments added 2.7 percent and blue-chip lender Dubai Islamic Bank gained 2.5 percent.Shares in Arabtec, which dominates trading volumes in the ...
Egypt's bourse to extend trading hours from August 7 CAIRO: Egypt will lengthen trading hours on its stock exchange and reinstate pre-trading from Aug. 7, it said in a statement on Monday, as it looks to normalise activities following the turmoil of recent years.The trading session will be extended by 30 minutes to four-and-a-half hours, plus half an hour of pre-trading.Share prices will be allowed to move up or down by 10 percent in pre-trading before being suspended in addition to the 10 percent ...


Index Closing Chg%
Arrow DJIA 16,563.30 1.88
Arrow Nasdaq 4,369.77 2.09
Arrow S&P 1,930.67 2.00
Arrow FTSE 6,730.11 0.64
Arrow DAX 9,407.48 1.94
Arrow CAC-40 4,246.14 1.53
Arrow Nikkei 15,620.77 0.16
Arrow H.Seng 24,756.85 0.10
Arrow Sensex 25,894.97 0.74

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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln