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Kenyan shilling falls as importers bid for dollars  NAIROBI: The Kenyan shilling weakened early on Tuesday as end-month demand for dollars from importers gathered pace, though rising interest rates on the money market could cap losses, traders said.   At 0646 GMT, commercial banks quoted the shilling at 84.95/85.05, slightly weaker that Monday's close of 84.80/85.00.   "(Dollar) demands seems to be building up as the month draws to a close. With this in mind we still anticipate some shilling weakness," Bank of Africa said in a daily report.   In the money market, the weighted average interbank rate inched up for the fifth straight session, to 7.1 percent from 7.0 percent on Friday.   "We expect the shilling to be supported by rising interest rates, which are going to make it a bit tight on the money market," said Dickson Magecha, a trader at Standard Chartered Bank.   Copyright Reuters, 2012 ...

Kuwait, Saudi spat risks delay on Dorra gas field  DUBAI/KHOBAR: Development of an offshore gas field by Kuwait and Saudi Arabia has been delayed for months, due to disagreement over where to share out the gas, and the project may not start up on time unless the dispute is settled soon, a senior Kuwaiti energy executive said on Wednesday. The Dorra gas field, lying close to the shore of the two Gulf OPEC allies, has long been a bone of contention between Kuwait and Iran ...
Rand steady vs dollar, vulnerable to mine strife  JOHANNESBURG: South Africa's rand hovered in the 8.20s against the dollar on Monday, unable to build on recent strength in the euro and weakness in the dollar due to continued labour strife in the mining sector.   The unit is likely to have a quiet session on Monday with no data expected until Tuesday.   The rand was at 8.2400 against the dollar at 0650 GMT, a shade weaker than Friday's New York close of 8.21. The rand rose ...
South African stocks hit new highs after US Fed action  JOHANNESBURG: South African stocks hit a new record high on Friday lifted by the US Federal Reserve's aggressive new stimulus to drive growth, despite the labour unrest in the domestic mining sector.   The blue-chip Top-40 index hit an all-time high of 32,314.56.   The broader All-share index touched a record high of 36,554.09.   Copyright Reuters, 2012 ...
South Africa mine unrest keeps rand under pressure  JOHANNESBURG: South Africa's rand eased against the dollar on Thursday after plunging 3 percent in the previous session as labour turmoil in the platinum sector forced the world's largest producer to shut down some of its production.   The rand traded at 8.3544 at 0657 GMT against the dollar, weaker than Wednesday's New York close of 8.345, after recording its biggest daily plunge in nearly three-months and took the currency to a week-low.   The labour unrest in the ...
Saudi turnover surprises on upside DUBAI: High liquidity in the Saudi Arabian stock market over the summer and Ramadan months, which are traditionally dull trading periods, signal investor interest in the market which could lead prices higher in coming weeks. Investors traded 307 billion riyals ($82 billion) worth of shares on the Saudi bourse during June-August, a surge of 83 percent from the year-earlier period, according to stock exchange data. This has extended a trend of active trading for most of this ...
Kenyan shares hit 14-month high, shilling rises  NAIROBI: Kenyan shares hit a 14-month high on Friday as investors shifted back to the stock market following the central bank's hefty interest rate cut this week, while the shilling ended firmer against the dollar. The main NSE-20 Share Index rose 0.3 percent to 3,899.62 points, a level last touched on July 7, 2011. "With the CBR rate lower we expect investors to shift back into equities as yields on the debt market that has been very ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln