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Middle East & Africa


Weak oil may depress Gulf; investment deals could support Egypt DUBAI: Oil's fresh slide may pressure Gulf stock markets on Sunday, while Egypt may rise after Gulf Arab allies pledged a further $12 billion of investments and central bank deposits for Cairo at an international summit. Global oil prices tumbled on Friday and fell 9 percent on the week, hit by a renewed rally in the dollar and a warning by the International Energy Agency that the oil glut is growing.Brent crude settled near a one-month low below $55 a barrel. Some traders also worried about the prospect of Iran reaching a partial nuclear deal with world powers by the end of March and a full agreement by June. Such a deal could end sanctions against Tehran, enabling it to export more crude, which would suppress prices. US Secretary of State John Kerry said on Saturday that he hoped "in the next days" it would be possible to reach an ...

Gulf markets fall after oil tumbles DUBAI: Gulf stock markets fell in early trade on Sunday after oil prices tumbled again, while Dubai-listed Egyptian firm Orascom Construction rebounded.Brent crude settled near a one-month low below $55 a barrel on Friday and fell 9 percent on the week, hit by a renewed rally in the dollar and a warning by the International Energy Agency that the oil glut is still growing. Dubai's index fell 1.0 percent as most stocks declined. Bahraini investment ...
Kenyan shares slip again on profit taking, shilling flat NAIROBI: Kenya's main share index fell for an eighth consecutive session on Thursday, with loss-making Mumias Sugar dragging stocks lower as investors were put off by its planned cash call.The shilling closed unchanged.Kenya's stock market has lost ground in every trading session since March 2, when the benchmark NSE20 Index hit a seven year high, and fell again on the day despite the bourse's biggest stock by market capitalisation, Safaricom, scaling an all-time high.Aly Khan ...
Housing hopes boost Saudi; Egypt rises before investment summit DUBAI: Stronger oil and hopes that the government will speed up its housing programme lifted Saudi Arabia's stock market to a four-month high on Thursday, while Egypt rebounded ahead of a long-awaited conference to attract investment. Most Gulf markets were soft. The main Saudi index edged up 0.3 percent to 9,691 points, rising above major technical resistance on its 200-day average of 9,662 points. Another close above that level would confirm a break, suggesting the ...
South African stocks fall to one-month lows as investors flee JOHANNESBURG: South African stocks sank to a one-month low on Wednesday on the back of a wilting local currency and as investors focus on the likelihood of higher interest rates in the United States.Johannesburg's Top-40 index was down 0.7 percent to 45,826 and the All-share shed 0.6 percent to 51,753, the lowest since early February.The local rand currency is trading near 13-year lows against the dollar on the increasing view the Federal Reserve may raise ...
Saudi Arabia rises in otherwise weak Gulf; Egypt slides DUBAI: Most Gulf stock markets fell on Wednesday as oil remained volatile, but Saudi Arabia resumed its rally. Egypt's Orascom Construction tumbled in Dubai as Egyptian investors appeared to sell the stock to acquire hard currency. The main Saudi benchmark edged up 0.5 percent on late buying as the price of Brent crude oil rebounded towards $57 per barrel, after hitting a one-month low below $56. The index closed exactly on its 200-day average of ...
South Africa stocks sink again as commodities routed, Kumba hits low JOHANNESBURG: South African stocks sank for a second session in a row on Tuesday, pulled down once again by a global resources sell-off that saw platinum hit five-year lows and iron ore plumb a record trough. Leading blue-chip decliners, Kumba iron Ore fell nearly 5 percent to 179 rand, a 5-1/2 year low, after the price of its commodity slipped below $60 a tonne - its lowest since records began in late 2008 - under ...


Index Closing Chg%
Arrow DJIA 18,010.68 0.64
Arrow Nasdaq 5,070.03 0.55
Arrow S&P 2,107.39 0.63
Arrow FTSE 6,984.43 0.80
Arrow DAX 11,413.82 2.26
Arrow CAC-40 5,007.89 2.53
Arrow Nikkei 20,563.15 0.06
Arrow H.Seng 27,424.19 0.11
Arrow Sensex 27,828.44 1.17

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 28, 2015
Reserves $17.494 bln