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Middle East & Africa

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Steady oil, global shares may support region DUBAI: Middle East stock markets may rise further on Monday as oil prices hold above $80 per barrel and Asian markets are up on hopes for stimulus in China and Europe.Most markets in the region rose on Sunday in line with end-of-week gains in global equities, which rallied after China made a surprise interest rate cut and the European Central Bank indicated it would step up asset purchases.Expectations of fresh foreign fund inflows may also boost stocks in the United Arab Emirates and Qatar whose weightings in MSCI's emerging markets index will increase on Tuesday.Among those are UAE's Emaar Properties, Dubai Islamic Bank and First Gulf Bank and Qatar's Industries Qatar, Qatar National Bank, Doha Bank and Commercial Bank of Qatar.Gulf International Services will join the benchmark for the first time.Passive funds which closely follow the index are most likely to buy those stocks on Tuesday en masse, lifting them ...

Most markets rise, Qatar slips on profit-taking DUBAI: Stock markets in the United Arab Emirates, Kuwait and Oman rose in early trade on Sunday, following a positive global lead, while profit-taking continued in Qatar.Dubai's index gained 1.0 percent as most stocks rose. Emaar Properties, up 1.8 percent, was the main support.Abu Dhabi's index edged up 0.4 percent on the back of Aldar Properties' 2.2 percent gain.Bourses in Kuwait and Oman added 0.2 and 0.3 percent respectively.Brent crude rose above $80 per barrel ...
SABIC heads Saudi rally as oil price rise supports DUBAI: Saudi Arabia's bourse rose in early trade on Sunday as most stocks gained after oil prices edged up and global equities rallied on Friday.The main Saudi index added 1.0 percent as shares in petrochemicals giant Saudi Basic Industries (SABIC) rose 1.4 percent.Brent crude climbed back above $80 per barrel and global stock markets also edged up on Friday after China made a surprise interest rate cut and the European Central Bank indicated it would ...
Mideast markets edge up as investors hunt for bargains DUBAI: Most stock markets in the Middle East edged up on Thursday as oil prices paused in their decline ahead of next week's OPEC summit and stocks that usually see little trading took centre stage on several bourses.Dubai's index rose 0.3 percent, largely on the back of telecommunications operator du, which jumped 3.6 percent to 5.49 dirhams in its highest trading volume for more than six months.Equity research house AlphaMena highlighted the stock in a ...
Petchems lift Saudi Arabia, Egypt up DUBAI: Saudi Arabia's stock index edged up in early trade on Thursday after oil prices appeared to stabilise, while Egypt's bourse continued to recover from a bout of profit-taking.The main Saudi index rose 0.2 percent. Shares in petrochemicals giant Saudi Basic Industries (SABIC) added 0.4 percent and most other stocks were also in the black.The market came under pressure earlier this week as oil prices extended losses, prompting concerns that the government may start cutting ...
Markets may consolidate, global backdrop mixed DUBAI: Stock markets in the Middle East may consolidate on Wednesday on thin domestic news flow and a mixed global backdrop of strong equities and weakening oil prices. Most markets in the region rebounded in the last session after Monday's sell-off as oil prices appeared to be stabilising near $80 per barrel ahead of an OPEC meeting next week. But Brent crude held steady below $79 a barrel on Wednesday as data showed Saudi Arabia ...
Mideast markets rebound in line with global equities, oil DUBAI: Markets in the Middle East pared some of the previous day's losses on Tuesday as global equities and oil prices rebounded and retail investors started buying stocks again.Brent crude rose back towards $80 a barrel on Tuesday on speculation OPEC could cut output at its meeting on Nov. 27, while European shares rose on hopes of more economic stimulus measures in Japan.Dubai's index added 1.4 percent as contractor Arabtec Holding jumped 3.6 percent and ...

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln