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Gulf markets slide after US oil hits 6-year low DUBAI: Gulf stock markets fell in panic sell-offs on Wednesday after U.S. crude futures dropped to a fresh six-year low and Brent oil also retreated.U.S. oil futures dropped about 3 percent and traded just above $42 per barrel after crude inventories rose by 10.5 million barrels to 450 million in the week to March 13, according to data from the American Petroleum Institute.Official inventory data was due to be issued by the U.S. Energy Information Administration (EIA)later on Wednesday. Brent crude was also weak, slipping towards $53 per barrel.Saudi Arabia main index, which has the heaviest weighting of petrochemicals among the Gulf markets, fell 1.8 percent to 9,134 points, although it closed comfortably above its intraday low of 8,888 points.Saudi Basic Industries, the region's biggest petrochemical firm, tumbled 4.8 percent in its heaviest trade in five months. Prices for many of its products are linked to oil prices.Ex-dividend stocks such ...

South Africa stocks edge lower, eyes on Fed JOHANNESBURG: South African stock prices eased slightly on Wednesday as investors awaited a U.S. central bank statement about the future of interest rates due after African markets close.The Federal Reserve is expected to shed some light on how soon it plans to raise rates when its two-day meeting ends later in the day."The market is waiting for tonight's Fed minutes release and Chair Yellen's press conference," said Global Trader's Paul Chakaduka. "That should give more ...
Saudi Arabia stock falls on oil; TMG weighs on Egypt DUBAI: Saudi Arabia's stock market fell in early trade on Wednesday as oil remained weak and property developer Talaat Moustafa Group weighed on Egypt after being told to pay more cash to the government.Brent crude fell towards $53 a barrel as U.S. crude inventories were forecast to have surged for the tenth straight week to a new record high.The main Saudi index was down 1.3 percent and petrochemicals giant Saudi Basic Industries, down 2.2 percent, ...
Gulf markets drop as US oil hits 6-year low DUBAI: Stock markets across the Gulf fell sharply on Wednesday after U.S. crude futures dropped to a fresh six-year low and Brent oil also edged down.US oil futures dropped about 3 percent and traded just above $42 per barrel on Wednesday after crude inventories rose by 10.5 million barrels to 450 million in the week to March 13, according to data from the American Petroleum Institute.Official inventory data will be issued later on Wednesday by ...
South African stocks edge up, Lonmin soars on upgrade JOHANNESBURG: South African stocks edged higher on Tuesday after a banking recommendation upgrade on Lonmin restored some confidence in the recently battered mining sector. Emerging market stocks were broadly firmer as speculation the US Federal Reserve will raise interest rates soon waned.The blue-chip JSE Top-40 index was up 0.14 percent at 46,269 points and the broader All-share index gained 0.3 percent to 52,300. Both indices dropped nearly 3 percent last week, their biggest weekly fall ...
Weak oil weighs on Gulf markets; Q4 hopes support Egypt DUBAI: Most Gulf stock markets slumped on Tuesday as oil extended its slide, while Egypt stabilised after a profit-taking bout.Brent crude fell towards $53 per barrel to trade at its lowest level since early February as concerns mountedover a growing supply glut.Saudi Arabia's stock index dropped 1.4 percent as petrochemicals giant Saudi Basic Industries (SABIC) slid 4.1 percent to 87.25 riyals in heavy trade. The stock came under strong selling pressure after falling below 90 ...
Saudi Arabia stock extends losses, Egypt edges up DUBAI: Saudi Arabia's bourse pulled back further while Egypt stabilised in early trade on Tuesday after heavy profit-taking hit both markets in the previous session.Saudi Arabia's main index fell 1.1 percent as petrochemical giant Saudi Basic Industries dropped 3.5 percent. The benchmark, which leads gains among major Middle East markets this year, dropped 2.0 percent in the previous session.But PetroRabigh jumped 2.4 percent after the firm said it had signed loans worth around 19.4 billion ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJune 25, 2015
Reserves $17.457 bln