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Middle East & Africa


Nigerian shares rise as local investors bet on smooth election LAGOS: Nigerian stocks climbed for the sixth straight session on Friday, as domestic investors snapped up shares betting a presidential election due on Saturday would go smoothly. Frontrunners President Goodluck Jonathan and former military ruler Muhammadu Buhari are facing off in a contest many think is too close to call. Africa's biggest economy delayed the vote by six-weeks to March 28, citing security concerns, sending financial markets into a tailspin. The naira fell through a psychological level of 200 to the dollar for the first time as foreign investors fled. Analysts said concerns among investors that the elections could be delayed further, triggering a constitutional crisis that would unsettle markets further, had dissipated. "The equity market rallied before Saturday's presidential election amidst sustained demand for large caps. If presidential election is successfully held, we expect the rally to continue," analysts at Vetiva Capital said. Brokers said local investors mostly pension ...

Nairobi Stock Exchange reports 16pc rise in pretax profit NAIROBI: Kenya's Nairobi Stock Exchange on Friday reported a 16 percent rise in pretax profit, helped by a surge in equity turnover.The bourse, which listed after an initial public offering last year, reported pretax profit of 441.8 million shillings ($4.8 million) in 2014, from 379.5 million shillings in 2013.Total income climbed 32 percent to 821.9 million shillings, mainly driven by a 39 percent increase in equity turnover to 431 billion shillings in 2014."Investor interest in ...
Gulf stocks regain ground after early losses over Yemen KUWAIT CITY: Stock markets in the Gulf states suffered early losses Thursday on fears over Saudi Arabia's air strikes on Shiite rebels in Yemen but regained ground at the close.The Saudi Tadawul All-Shares Index, the largest in the region, closed the day up 0.4 percent on 8,903.49 points, after diving at the start of trading when it shed 4.0 percent on Wednesday.The Dubai Financial Market also tumbled over 6.0 percent at the opening but ended ...
Gulf markets end well off lows after panic over Yemen DUBAI: Most Middle East stock markets fell on Thursday after Saudi Arabia and its allies in the region launched air strikes against Yemen's Houthi militia, but they came well off their lows late in the day as the initial panic subsided.Saudi Arabia's bourse, which is by far the region's biggest market and closes later than others in the Gulf, finished higher.Warplanes attacked the Yemeni capital Sanaa's airport and its al Dulaimi military airbase on Thursday ...
Gulf shares slide after Saudi strikes on Yemen KUWAIT CITY: Stock markets in the Gulf states dived on Thursday on fears from Saudi Arabia's air strikes on Huthi Shiite rebels in neighbouring Yemen, analysts said.The Saudi market, the largest in the region, and the Dubai Financial Market led the slide, amid a massive sell-off over fears of a possible confrontation between Saudi Arabia and Iran.The Saudi Tadawul All-Shares Index lost 4.0 percent at the start of trading, diving below the 8,500-point mark. But ...
Gulf stocks sink on Yemen conflict; Russia benefits LONDON: Stock markets across the Middle East fell heavily on Thursday after Gulf states launched military strikes on Yemen, with Saudi stocks extending losses, but Russia benefited from a $3 gain in the oil price.Saudi stocks, which lost 5 percent on Wednesday, fell another 4 percent on opening but clawed back most of the loss to stand 1 percent lower. Dubai tumbled 3 percent and other Gulf markets including Qatar and Kuwait also lost ground ...
South African stocks end lower, Nampak slips on write-down JOHANNESBURG: South African stocks fell more than 1 percent on Wednesday, with packaging firm Nampak sliding after saying it would write-down the value of its flexibles division before selling it while cancelling the sale of another unit.Shares in Nampak, Africa's biggest packaging company, which plans to sell non-core assets, fell 3.3 percent to 40.50 rand."It will effect earnings in the short term because they had to write down the value of the asset before selling ...


Index Closing Chg%
Arrow DJIA 17,678.23 0.23
Arrow Nasdaq 4,863.36 0.27
Arrow S&P 2,056.15 0.24
Arrow FTSE 6,895.33 1.37
Arrow DAX 11,843.66 0.18
Arrow CAC-40 5,006.35 0.29
Arrow Nikkei 19,471.12 1.39
Arrow H.Seng 24,497.08 0.13
Arrow Sensex 27,457.58 2.33

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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
WeeklyMarch 13, 2015
Reserves $16.273 bln