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Middle East & Africa


Gulf markets slide as global equities, oil weigh  DUBAI: Most Gulf Arab share markets fell on Sunday as concern about a weak global economy, sliding oil prices and declines in overseas equity prices caused buying interest to dry up. A lack of major economic policy developments within the Gulf means the region's markets may remain dominated by the global trend for some days at least, traders said. In the longer term, the strength of domestic economies in Saudi Arabia, Qatar and Oman may stabilise those stock markets if oil prices bottom out. But now that investors have become bearish, markets in the United Arab Emirates and Kuwait are seen as vulnerable to more losses. Dubai's index sank 2.0 percent on Sunday to 1,442 points, its lowest close since Feb. 2, and it may test January's seven-year low of 1,301 points.  The benchmark hit a 16-month high on March 5, but some analysts think this surge was largely speculative rather than based on ...

JOHANNESBURG: South African stocks ended higher on Tuesday, notching up their second straight day of gains, with MTN Group among the top performers after the wireless phone group said it would continue to return cash to shareholders. MTN Group, which is facing a $4.2 billion lawsuit from rival Turckcell, said it would keep buying back its stock after repurchasing shares worth 1.36 billion rand ($164 million) between March and May. Shares in Africa's biggest mobile phone operator ...
JOHANNESBURG: The Johannesburg Stock Exchange said on Friday it had identified and halted "incorrect" trades from one of its member brokers, and would reverse the trades and lower the session's total value after the close. "Until end of day figures are adjusted after the close of trade, the incorrect trades will distort today's trading value," exchange operator JSE Ltd said in a statement. "All incorrect trades will be reversed after the market closes and today's trading value ...
CAPE TOWN: South African exports to Europe and other developed countries remain below their 2008 peaks while trade with emerging economies has boomed, trade minister Rob Davies said Friday. "Global economic power is shifting before our very eyes from the North and West to the South and East," the minister told parliament. Developed countries remained important markets to South Africa, but "our exports to these economies remain well below the peak achieved in 2008, just prior to ...
JOHANNESBURG: South African stocks inched lower on Tuesday, as gold miners such as Gold Fields were hammered by a drop in the price of bullion, although losses were limited by a rise in heavyweights Naspers and MTN Group. Investors have been dumping emerging market assets, which are seen as higher risk, due to concerns about the outlook for global growth and debt-ridden Greece's impact on Europe. Global markets have been plagued by worries that Greece could exit ...
JOHANNESBURG: South African stocks lost ground for a fourth straight session on Tuesday, falling more than 1 percent, with platinum miners such as Anglo American Platinum the hardest hit as the euro zone's debt crisis continued to cloud markets. Massmart shed 2 percent to 164.20 rand as investors fret that the South African discount retailer may miss full-year sales forecasts after saying 44 weeks sales totalled 51.7 billion rand ($6.53 billion) by the end of April. "The ...
DUBAI/CAIRO: Saudi shares retreated on Monday after a call by the king for a crackdown against market manipulation spooked investors, and Egypt's bourse fell to eight-week lows over top-level differences about the terms of an IMF loan. King Abdullah has ordered the crackdown, insisting action should be taken if necessary against improper trading, the daily Alsharq newspaper reported on Monday. This spooked retail investors, who either tried to reduce their market exposure or stayed away altogether. Turnover ...


Index Closing Chg%
Arrow DJIA 16,408.54 0.10
Arrow Nasdaq 4,095.52 0.23
Arrow S&P 1,864.85 0.14
Arrow FTSE 6,625.25 0.62
Arrow DAX 9,409.71 0.99
Arrow CAC-40 4,431.81 0.59
Arrow Nikkei 14,516.27 0.68
Arrow H.Seng 22,760.24 0.28
Arrow Sensex 22,628.84 1.58

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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln