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Saudi stock earnings disappoint; Arabtec drags down UAE DUBAI: Saudi Arabia's bourse edged down on Sunday after several companies disappointed investors with their second-quarter results, while Dubai's Arabtec triggered a sell-off across the United Arab Emirates.Saudi Arabia's main index slid 0.6 percent in early trade, dragged down mostly by three companies that reported their quarterly earnings before the opening: Saudi Industrial Investment Group (SIIG), Dar Al Arkan and Saudi Basic Industries (SABIC).SIIG tumbled 7.2 percent after its second-quarter profit missed the estimate of SICO Investment Bank by a third.Dar Al Arkan fell 3.7 percent, having reported a 17 percent rise in second-quarter net income to 121.3 million riyals ($32.3 million). Six analysts polled by Reuters had forecast, on average, that it would record a net profit of 209.8 million riyals.SABIC slipped 0.7 percent after reporting a 7 percent rise in second-quarter net income, in line with estimates.In Dubai, builder Arabtec plunged and triggered a wide sell-off after Aabar ...

UAE markets recover further; earnings, dividends lift Saudi DUBAI: Blue-chip banks and property-related stocks, led by Dubai construction firm Arabtec , lifted markets in the United Arab Emirates on Sunday while earnings reports supported Saudi Arabia's bourse.Dubai's main index jumped 4.4 percent as shares in Arabtec surged their daily 15 percent limit. Among other top gainers were bourse operator Dubai Financial Market and developer Union Properties, up 12.6 and 10.5 percent respectively.Emaar Properties, the emirate's largest listed developer, added 2.0 percent and Dubai ...
Dubai rebounds; emerging stocks at one-year highs LONDON: Shares in Dubai-listed builder Arabtec surged 15 percent on Wednesday on hopes that a strategic investor will take a stake in the firm, lifting regional bourses, while broader emerging stocks hit one-year highs.Strong gains on developed markets boosted MSCI's emerging markets index by 0.8 percent, with Indian stocks posting a fresh record high and Russian markets jumping half a percent after the previous session's losses.The biggest gains were in the Gulf, however, with the ...
Dubai stocks rebound on Arabtec assurances DUBAI: Dubai share prices rebounded strongly Wednesday following a massive slide after leading construction firm Arabtec denied reports it was planning to delist and assured investors over its finances.The Dubai Financial Market (DFM) Index jumped 6.1 percent to close at 4,253 points a day after shedding 6.7 percent on troubles facing Arabtec coupled with a deeper than expected correction, traders said.Arabtec led the recovery as the most actively traded shares on the DFM, which has ...
Dubai drops as Arabtec concerns linger; FTSE impact on Qatar fades DUBAI: Uncertainty about the future of Dubai contractor Arabtec Holding put local investors in a bearish mood on Sunday, affecting the whole market, which ended a three-day gaining streak. Most Gulf markets moved little on declining volumes.Shares in Arabtec tumbled 9.9 percent after failing to hold on to early-session gains and were among the main drags on the Dubai benchmark, which fell 2.3 percent after going up as much as 1.0 percent shortly after the ...
South African stocks flat, gold companies shine JOHANNESBURG: South African stocks extended their weekly gains on Friday with mobile operator Vodacom leading the gainers while gold producer AngloGold Ashanti also rose, tracking an upbeat tone in overseas bullion markets. Vodacom rose 3.36 percent to 135.40 rand, its highest level in more than two months. "Fundamentally Vodacom is a good stock. It's not ridiculously expensive and it has high dividend yields. They are also benefiting from the high demand for data in cellphones," ...
Iraq prompts more profit-taking; Arabtec plunges again DUBAI: Most markets in the Gulf continued to decline on Monday because of the conflict in Iraq, while volatile Dubai led losses as construction firm Arabtec remained in freefall.Another city in northern Iraq, Tal Afar, fell on Sunday to insurgents from the Islamic State of Iraq and the Levant, whose offensive threatens to dismember the country.Apart from a handful of firms with major exposure to Iraq, it is not clear that the conflict will have ...


Index Closing Chg%
Arrow DJIA 17,390.52 1.13
Arrow Nasdaq 4,630.74 1.41
Arrow S&P 2,018.05 1.17
Arrow FTSE 6,546.47 1.28
Arrow DAX 9,326.87 2.33
Arrow CAC-40 4,233.09 2.22
Arrow Nikkei 16,413.76 4.83
Arrow H.Seng 23,998.06 1.25
Arrow Sensex 27,865.83 1.90

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln