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Middle East & Africa


South African stocks end flat JOHANNESBURG: South African stocks ended little changed on Wednesday, as a surge in insurer Old Mutual helped balance out a sharp drop by AngloGold Ashanti , which fell to a 12-year low on a quarterly loss.Other gold miners were also hit, as the bullion price remained under pressure and near a three-week low. Bullion has lost around 25 percent of its value this year, squeezing Johannesburg's gold producers."If you look at a lot of the miners right now, a lot of their costs are almost close to where the current gold price is, so a lot of gold miners are still going to struggle in this environment, especially with these very high cost structures that they have got in place at the moment," said Paul Chakaduka, a trader at Johannesburg brokerage Global Trader."We continue to see weaker commodity prices, higher costs in terms of labour, electricity, etc, and that is ...

Zimbabwe stocks plunge 11pc after Mugabe election HARARE: The Zimbabwe Stock Exchange's top index fell 11 percent on Monday, the first day of trading after the results of disputed elections which enabled Robert Mugabe to extend his 33-year rule.Several foreign-owned stocks registered steep losses, with South Africa-based clothing chain Edgars and hotel group African Sun losing more than 25 percent.Amid fears foreign banks could become the next target for Mugabe's indigenisation efforts, Barclays local listing had fallen by 15 percent on Friday, ...
Zimbabwe stock market plunges after Mugabe victory HARARE: Zimbabwe's main stock market index fell 11 percent on Monday in its first trading day since official results confirmed President Robert Mugabe would extend his 33 years in power after trouncing Prime Minister Morgan Tsvangirai, who is contesting the outcome.The industrial index fell to 205.57 points in the mid-morning session, with all the top-ten shares save for the local unit of insurance giant Old Mutual trading in the red.The bourse's biggest company, Delta Corporation, ...
Murray & Roberts offers $407mn for Clough JOHANNESBURG: South African construction firm Murray & Roberts said on Tuesday it plans to buy all the shares it does not already own in Australia's Clough Ltd for A$449 million ($407 million) in cash.Murray & Roberts, which owns 61.6 percent of Clough, said it was offering A$1.46 a share, a premium of 30.9 percent over Clough's closing price on Tuesday.Copyright Reuters, 2013 ...
Egypt stocks soar to 3-week high after army ultimatum CAIRO: Egyptian shares surged to a three-week high on Tuesday and the currency strengthened a day after the armed forces gave Islamist President Mohamed Mursi a virtual ultimatum to share power.Local investors believe army intervention in the political crisis could help put an end to 30 months of instability that has frightened away investors and tourists and drained the country's finances.Nationwide protests against Mursi prompted the army to tell feuding politicians they had 48 hours ...
Waha Capital buys stake in healthcare firm ABU DHABI: Abu Dhabi investment firm Waha Capital said on Sunday it had invested an undisclosed amount in a newly established healthcare group in the United Arab Emirates through majority stakes purchased in some of its hospital and laboratory assets.Waha, whose shareholders include Abu Dhabi government entities, said the investment in Dubai-based Anglo Arabian Healthcare (AAH) would help to support the healthcare firm's expansion plans in the next five years.Healthcare businesses in the Gulf region ...
US stocks bounce higher on open NEW YORK: US stocks bounced sharply higher in opening trade Wednesday, rebounding from the prior day's sell-off amid market volatility over concerns about central banks' stimulus plans.Five minutes into trade, the Dow Jones Industrial Average jumped 103.30 (0.68 percent) to 15,225.32, looking to snap its two-day losing streak.The broad-based S&P 500 rose 10.83 (0.67 percent) to 1,636.96, while the tech-rich Nasdaq Composite Index added 18.86 (0.55 percent) at 3,455.80."There isn't any continuity to the market's ...


Index Closing Chg%
Arrow DJIA 17,172.68 0.62
Arrow Nasdaq 4,527.69 1.14
Arrow S&P 1,994.29 0.80
Arrow FTSE 6,773.63 0.94
Arrow DAX 9,749.54 0.51
Arrow CAC-40 4,442.55 0.42
Arrow Nikkei 16,205.90 0.71
Arrow H.Seng 23,955.49 1.44
Arrow Sensex 27,206.74 0.43

Banking Review 2013

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln