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Middle East & Africa


UAE, Qatar rebound, Emaar surges on malls unit IPO plan DUBAI: Bourses in the United Arab Emirates and Qatar rebounded in early trade on Sunday and Dubai developer Emaar Properties surged after the firm said it would launch an initial public offer for its malls unit next month.Stock markets in both countries dipped in the last session as passive funds tracking MSCI's frontier market index liquidated part of their holdings in UAE and Qatari stocks.MSCI upgraded the UAE and Qatar from frontier to emerging market status in May and arranged for frontier funds to exit those countries through a series of monthly sales.Qatar's bourse, which dropped 3.1 percent on Thursday, rose 2.2 percent shortly after opening on Sunday as stocks that were the main drags in the last session became the main supports.Islamic lender Masraf Al Rayan jumped 5.4 percent and mobile phone operator Ooredoo surged 7.6 percent.Abu Dhabi's bourse rose 0.5 percent on the back of its heaviest MSCI ...

Foreign selling weighs on Qatar, UAE markets DUBAI: Qatar's bourse dropped sharply on Thursday as selling by retail investors and frontier market funds more than offset inflows related to the country's increased weighting in MSCI's emerging market index.The Doha index fell 3.1 percent, its biggest daily decline since February 2011. Mobile phone operators were hit hardest: shares in both Ooredoo and Vodafone Qatar tumbled their daily 10 percent limits.Islamic lenders Masraf Al Rayan and Qatar Islamic Bank dropped 7.8 and 4.4 percent ...
Kenyan shares eke out meagre gains, shilling stable NAIROBI: Kenyan shares nudged slightly higher on Thursday driven largely by Centum Investment and Kenya Power, while the shilling was steady for a second day.The benchmark NSE-20 share index added 0.3 percent to close at 5,089.16 points, staying close to seven-month highs reached at the start of this month.Shares in the investment and power companies helped to keep the bourse in positive territory and were largely taken up by foreign investors."The two shares did well, ...
Most markets dip on profit-taking DUBAI: Stock markets in the United Arab Emirates, Qatar and Egypt edged down in early trade on Thursday as investors booked profits after strong gains this week.Dubai's bourse fell 1.0 percent with most stocks in the red. Builder Arabtec, which dominated trading, dropped 2.3 percent to 4.68 dirhams, even though its biggest shareholder and former chief executive Hasan Ismaik said on Wednesday the stock was worth over 5 dirhams. Investors may have been disappointed by ...
Arabtec, DP World may buoy Dubai markets DUBAI: Dubai builder Arabtec looks likely to support the emirate's bourse on Thursday after the company's biggest shareholder said he was in talks to sell part of his stake at a price higher than the current market valuation. Hasan Ismaik, who abruptly resigned as Arabtec's chief executive in June, told Reuters on Wednesday he was in talks with Abu Dhabi state fund Aabar to sell part of his 27.90 percent stake and wanted over 5 ...
Petchems lift Saudi to 6-year high; Arabtec jumps on buyout hopes DUBAI: Expectations of strong global demand for petrochemicals supported the uptrend in Saudi Arabia's stock market on Wednesday, lifting the bourse to a fresh six-year high, while Dubai builder Arabtec jumped on hopes that a key shareholder would increase its stake.Saudi Arabia's main index rose 0.8 percent to 11,030 points, closing above 11,000 points for the first time since January 2008.Petrochemicals were among the main drivers; Saudi Basic Industries rose 1.2 percent, Saudi International Petrochemical ...
South African stocks snap two-day winning streak as miners weigh JOHANNESBURG: South African stocks ended slightly lower on Wednesday, snapping a two-day winning streak, as miners came under pressure from a stronger rand and faltering metal prices.The benchmark JSE Top-40 index was down 0.27 percent at 46,351 and the broader All-share index inched down 0.23 percent to 51,610."The rand is little firmer and the price of iron ore continues to pull back and that is keeping diversified miners under some pressure," said Rabi Thithi, a ...


Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
Arrow CAC-40 4,347.23 2.67
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,437.12 0.37
Arrow Sensex 28,334.63 0.95

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln