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Middle East & Africa


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 analyst at Sterling Investment Bank. "Basically, it's just KenGen that drove" the market.The blue-chip index added 15.53 points to 5,491.37.On the foreign exchange market, the shilling closed at 91.35/45 to the dollar, slightly weaker from Thursday's close of 91.30/40."There's an equilibrium. Supply and demand is matched," said a trader at a major commercial bank in Kenya.The trader said the currency was expected to stay in a narrow range, "unless something really drastic happens."On the secondary ...

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 ...
Gulf markets slip, Egypt falls on Q4 results, politics DUBAI: Most major Gulf stock markets slipped on Thursday despite stronger oil prices, as low trading volumes indicated retail investors remained cautious. Brent crude surged 5 percent on Wednesday, after Saudi Arabia's oil minister said oil demand was growing and data showed Chinese factories were producing more than expected.That was positive news for the Saudi stock market, but its main index inched down 0.1 percent as trading volume remained modest and shares of telecommunications operator ...
Saudi telecom suspended over 'loss': market regulator RIYADH: Saudi Arabia's stock market regulator on Wednesday suspended trading in one of the country's major telecommunication firms, Etihad Etisalat, after the company reported losses of $243 million last year.The firm, known as Mobily, is a unit of United Arab Emirates giant Etisalat.The suspension will run "until Mobily discusses the reasons that led to a net loss amounting to 913 million riyals", after having earlier reported a preliminary net profit of 220 million riyals for ...
Qatar Navigation raises 2014 dividend as Q4 profit jumps 32.8pc DUBAI: Qatar Navigation (Milaha) raised its 2014 dividend and its fourth-quarter net profit jumped 32.8 percent, Reuter’s calculations showed on Wednesday.It made a net profit of 228.2 million riyals ($62.7 million) in the three months ending Dec. 31, up from 171.8 million riyals a year-ago, according to Reuters calculations based on financial statements and Thomson Reuters data.In a filing with Qatar's bourse, Milaha said it recorded a net profit for 2014 of 1.05 billion riyals ...
Gulf markets inch up after US Federal report DUBAI: Most Gulf stock markets were neutral to positive in early trade on Wednesday after the US Federal Reserve indicated it would not rush into raising interest rates and oil prices firmed slightly.Brent crude edged up 0.4 percent to $58.92 per barrel by 0645 GMT.The Fed is preparing to consider interest rate hikes "on a meeting-by-meeting basis", its Chair Janet Yellen told a congressional committee on Tuesday.That approach could open the door to an interest ...
South African stocks hit new record, charts suggest overbought JOHANNESBURG: South African stocks put in slight gains on Tuesday after earlier hitting life highs, with charts suggesting short-term gains may be capped by technical factors.Among advancers, Johannesburg shares of global mining giant BHP Billiton added 4.3 percent despite posting a 31 percent slide in half-year profit as investors focused on more positive trends.These included better-than-expected results in iron ore, the company's biggest earner, and in the aluminium, manganese and nickel businesses that the company ...


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