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Middle East & Africa


Nigerian markets rally after Buhari wins presidential vote LAGOS: Nigeria's main shares index soared to its single biggest daily gain this year on Wednesday while bond yields fell sharply and the naira currency surged in the black market as investors cheered Muhammadu Buhari's presidential election victory.The main shares index rose 8.4 percent as financial markets in Africa's biggest economy welcomed the peaceful outcome of the closely-fought elections, marking the first time in Africa's most populous nation where a sitting president was voted out of power through the ballot box.Buhari takes charge of Africa's biggest oil producer and one of the continent's most turbulent democracies, three decades after seizing power in a military coup.The naira firmed 0.46 percent to 217 against the dollar on the parallel market, a black market dealer said.The currency traded at 197 naira to the dollar on the interbank market, a level it has traded at since February, after the central bank pegged the rate ...

Petchems, banks drag down Saudi Arabia; rest of Gulf strong DUBAI: Saudi Arabia's bourse fell further on Tuesday in line with oil prices, while most other Gulf markets rose, reversing a pattern seen in the last few weeks when the kingdom outperformed the region.Brent and U.S. oil dropped about 2 percent each as Iran and six world powers ramped up the pace of negotiations in an effort to reach a preliminary deal on Tehran's nuclear programme by the end of the day. If achieved, a ...
Saudi Arabia stock slides further; property stocks lift Egypt DUBAI: Bears appeared to be winning a tug-of-war in Saudi Arabia's stock market during early trade on Tuesday after oil prices extended losses, while Egypt's bourse rose, led by real estate stocks.Brent and U.S. oil dropped about 2 percent each as Iran and six world powers ramped up the pace of negotiations to reach a preliminary deal by the end of the day that could ease sanctions and allow more Iranian crude onto world markets.Saudi ...
Saudi bourse's rules for opening to foreigners expected by end-April DUBAI: Saudi Arabia's market regulator will publish the final rules governing the opening of the kingdom's stock exchange to direct foreign investors by the end of April, a senior Saudi banker told Reuters.His comments correspond to a report in pan-Arab newspaper Asharq al-Awsat on Tuesday, which quoted unnamed informed sources in the kingdom as saying the regulations will be published in April and the market will officially open to overseas institutions 60 days later.The opening ...
Nigerian stocks climb to 3-week high on possible Buhari win LAGOS: Nigerian stocks extended their gains on Tuesday, rising almost 1 percent in early trade to a 3-week high as investors reacted positively to a possible win for the opposition party in Saturday's closely fought presidential election.Opposition contender Muhammadu Buhari held a sizeable lead as counting in the country's election resumed on Tuesday, raising the prospect of a ballot box victory for a man who first came to power three decades ago via a military ...
South African stocks rise, led by miners BHP, Anglo American JOHANNESBURG: South African stocks advanced on Monday with strong gains in the resource sector, spurred by mining giants BHP Billiton and Anglo AmericanShares in Anglo American rose 2.78 percent to 190.74 and BHP Billiton closed 2.04 percent higher at 272.54 rand, buoyed by hopes that a stimulus to China's economy could translate to a greater appetite for emerging market commodities.Chinese stocks surged to seven-year highs, helped by Beijing's unveiling of an ambitious plan to build ...
Gulf markets diverge on mixed news, dividends DUBAI: Middle East stock markets were mixed by midday on Monday, driven by weaker oil and company-specific news as well as stocks going ex-dividend.Oil prices extended losses from the previous session as Iran and six world powers tried to reach a deal that could add oil to the market if sanctions against Tehran are lifted. The two sides aim to reach a preliminary agreement by Tuesday.The main Saudi index slipped 0.2 percent as petrochemicals giant ...


Index Closing Chg%
Arrow DJIA 16,351.38 1.82
Arrow Nasdaq 4,749.98 2.46
Arrow S&P 1,948.86 1.83
Arrow FTSE 6,083.31 0.41
Arrow DAX 10,048.05 0.32
Arrow CAC-40 4,554.92 0.30
Arrow Nikkei 18,095.40 0.39
Arrow H.Seng 20,934.94 1.18
Arrow Sensex 25,453.56 0.95

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln