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Middle East & Africa


Oil below $65 may drag markets further down DUBAI: A new milestone low for the oil price looks likely to reinforce the bearish mood among equity investors in the Gulf on Thursday. Brent crude tumbled on Wednesday to a fresh five-year low of $63.56 per barrel on comments by Saudi Arabia's oil minister again implying that Riyadh would make no output cut. It ticked up early on Thursday but still traded below $65. Gulf stock markets have displayed a strong correlation with oil prices in the last few weeks as more and more investors choose to cash out and stay on the sidelines, waiting for the commodity to find a floor. Although most governments in the region are likely to maintain spending and support their non-oil sectors, analysts say panic selling of stocks may continue until investors see next year's budgets. Saudi Arabia's 2015 budget is expected to be released late this month. Equities benchmarks in Saudi Arabia, ...

Dubai tumbles 3.6pc after oil hits new low DUBAI: Dubai's stock index fell sharply in early trade on Thursday after Brent crude oil dropped to a fresh five-year low. The emirate's main index sank 3.6 percent to 3,744 points. It has important technical support at 3,731 points, its July trough. Heavyweight Emaar Properties tumbled 5.8 percent and most other stocks were deep in the red. The main index in Abu Dhabi, whose investor base overlaps that of Dubai, dropped 2.1 percent. The price ...
Most Gulf markets stabilise; Saudi extends drop DUBAI: Most stock markets in the Gulf stabilised on Wednesday after falling sharply earlier in the week in response to oil's slide, but Saudi Arabia's equities index dropped again, wiping out the remainder of its gains this year.Brent crude held near $66 a barrel until most bourses in the region closed on Wednesday, but then fell further as producers forecast lower demand for their oil next year.Saudi Arabia's stock market, which closes later than others ...
Gulf markets stabilise after sharp drops DUBAI: Stock markets in the Gulf were mixed but appeared to be stabilising on Wednesday after falling sharply earlier in the week in response to oil's weakness.Brent crude dropped about $1 to around $66 a barrel on Wednesday morning on persistent oversupply worries, but that was roughly its level when Gulf markets closed on Tuesday.Saudi Arabia's stock index edged down 0.4 percent shortly after opening on Wednesday as blue chips National Commercial Bank and Saudi ...
Gulf markets mixed as oil's rebound falters DUBAI: Stock markets in the Gulf were mixed in early trade on Wednesday after oil's rebound late on Tuesday turned out to be short-lived, keeping investors guessing about where the commodity will find a floor.Brent crude dropped about $1 to around $66 a barrel on Wednesday morning on persistent oversupply worries. Dubai's stock index rose 1.2 percent after dropping as much as 1.4 percent shortly after the opening. The benchmark lost 9.2 percent earlier this ...
South Africa stocks post biggest daily loss in a year JOHANNESBURG: South African shares plunged more than 2 percent on Tuesday, the biggest one-day drop in a year, as falling oil and commodity prices depressed sentiment and dragged iron ore producers such as Kumba lower.Transport company Imperial and e-commerce firm Naspers were also hit by investors booking profit after weeks of the share prices running."We are still definitely down with what's happening in energy markets and iron ore prices are still down," said Ferdi Heyneke, ...
Gulf markets tumble as oil hits fresh low; Dubai down 3.5pc DUBAI: Most stock markets in the Gulf fell sharply on Tuesday after oil prices hit five-year lows, triggering a fresh wave of panic selling of shares by local retail investors, though most fund managers and analysts think the region can cope comfortably with cheaper oil.Dubai's market, traditionally the Gulf's most volatile, tumbled 3.5 percent to 3,889 points, though it closed well above its intra-day low of 3,761 points. It rebounded from near major technical support ...


Index Closing Chg%
Arrow DJIA 17,409.00 1.31
Arrow Nasdaq 4,683.41 0.98
Arrow S&P 2,017.30 0.95
Arrow FTSE 6,810.60 0.22
Arrow DAX 10,737.87 0.25
Arrow CAC-40 4,631.43 0.44
Arrow Nikkei 17,606.22 1.06
Arrow H.Seng 24,595.85 1.07
Arrow Sensex 29,681.77 0.41

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln