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Middle East & Africa


Markets fall as investor hopes fade for OPEC output cut DUBAI: Most regional markets fell on Tuesday due to bearish oil price expectations, with strong foreign demand for several heavyweight stocks listed in the United Arab Emirates and Qatar failing to offset a broad sell-off by local investors.In its semi-annual review, index compiler MSCI this month raised the weightings of a number of UAE and Qatari stocks in its emerging markets benchmark, a move that takes effect after Tuesday's close.At the same time, MSCI completed the gradual exclusion of the two countries from its frontier markets index following their upgrade in May.Consequently, trading was volatile on markets in Dubai, Abu Dhabi and Qatar, with higher-than-usual volumes as frontier funds sold and emerging market funds bought stocks en masse. Ultimately, local retail investors sided with the sellers, driving down all three benchmarks.Dubai's bourse fell 1.5 percent, Abu Dhabi dropped 2.1 percent and Qatar's index lost 1.9 percent.SAUDI, OMANSaudi Arabia's index fell ...

Egypt, Saudi slide; funds start buying in UAE, Qatar DUBAI: Stock markets in Saudi Arabia and Egypt fell in early trade on Tuesday while funds tracking MSCI's emerging markets index started buying several stocks in the United Arab Emirates and Qatar ahead of scheduled adjustments to the benchmark. Saudi Arabia's index fell 1.2 percent, with most stocks in the red. Saudi Basic Industries lost 1.2 percent, while food maker Savola Group and Al Rajhi Bank were down 2.9 and 1.1 percent respectively. Egypt's bourse ...
Markets edge down as global rally subsides DUBAI: Stock markets in Saudi Arabia and Egypt edged down in early trade on Monday and bourses in the United Arab Emirates and Qatar also gave up gains as the rally in global equities appeared to be subsiding. Saudi Arabia's main index fell 0.3 percent amid a mixed performance by blue chips. Petrochemicals giant Saudi Basic Industries gained 0.6 percent, while National Commercial Bank, the kingdom's biggest lender, edged down 0.4 percent. Egypt's bourse lost ...
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 ...
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 ...


Index Closing Chg%
Arrow DJIA 17,814.94 0.02
Arrow Nasdaq 4,758.25 0.07
Arrow S&P 2,067.03 0.12
Arrow FTSE 6,731.14 0.02
Arrow DAX 9,861.21 0.77
Arrow CAC-40 4,382.31 0.32
Arrow Nikkei 17,407.62 0.29
Arrow H.Seng 23,843.91 0.21
Arrow Sensex 28,338.05 0.57

Banking Review 2013

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