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Middle East & Africa


UAE markets look bullish as volumes rise DUBAI: Stock markets in the United Arab Emirates look bullish on Monday after gaining on rising trading volumes in the last session, while Saudi Arabia's extended rally is making some players wary of a profit-taking bout. Trading volume more than tripled in Dubai on Sunday as the emirate's main index rose 1.1 percent, while Abu Dhabi's benchmark added 0.6 percent with volume up 75 percent. Dubai, which closed at 4,963 points, rose above technical resistance at 4,935 points, the peak from which it retreated in early August and July. It now faces resistance at 5,192 points, the June high. However, news flow from the UAE companies remains thin, prompting investors to turn to speculative stocks such as Arabtec, which jumped 3.8 percent in the last session on hopes that a government-related entity would buy out the 27.90 percent stake held by its former chief executive. Elsewhere in the region, Saudi ...

Arabtec speculation lifts Dubai, most markets up DUBAI: Speculative bets on Dubai builder Arabtec helped lift the emirate's bourse in early trading on Sunday, while most markets in the region also edged up. Shares in Arabtec jumped 2.6 percent, dominating turnover in Dubai as the bourse's main index rose 0.2 percent. "What's happened to Arabtec is still to do with the speculation on who will buy the stake from (former chief executive) Hasan Ismaik," said Sanyalak Manibhandu, manager of research at NBAD ...
Markets to consolidate, Saudi banks may stay strong DUBAI: Most Middle East stock markets look set to consolidate in modest turnover on Thursday, though Saudi Arabian banks may continue to attract interest after some surged on Wednesday. The global market environment is soft, with Asian shares under pressure after a disappointing survey of Chinese manufacturing. MSCI's broadest index of Asia-Pacific shares outside Japan is down 0.6 percent. Most Gulf stock markets have been suffering from low turnover during the summer lull and show ...
Banks lift Saudi to 6-year high; Suez project cheers Egypt DUBAI: Banks led Saudi Arabia's stock index to a new six-year peak as trading volumes increased on Wednesday, while Egypt also extended gains. But other Gulf markets were subdued as a summer lull deepened.The Saudi measure rose 0.5 percent to 10,716 points, its highest finish since January 2008. Nearly 270 million shares changed hands, a two-week high: Saudi Arabia has not suffered the summer trading slump of neighbouring bourses.Eight of the 10 largest stocks advanced. ...
Kenyan shilling flat, seen vulnerable NAIROBI: The Kenyan shilling was steady on Monday but was seen vulnerable if the tight money market conditions ease up, traders said.At 0705 GMT, commercial banks quoted the shilling at 88.05/88.15 to the dollar, unchanged from its closing level on Friday.The shilling has been supported by tighter conditions on the interbank market, where the weighted average lending rate rose to 11.9492 percent on Friday from about 7.5 percent in mid-July.Commercial Bank of Africa trader Joshua ...
Kuwait Food Co falls after says no knowledge of Savola takeover talks DUBAI: Shares in Kuwait Food Co (Americana) fell on Monday after the company said it had no knowledge of any talks with Saudi Arabia's Savola Group over a possible acquisition of Americana. Americana was down 1.3 percent at 0733 GMT, resuming trading following a five-day suspension. The stock rose 2.6 percent to a record high on Aug. 13 after Savola said in a bourse statement that it was in preliminary talks to buy Americana, but ...
South African stocks down, Naspers retreats from record high JOHANNESBURG: South African stocks fell for a third straight session on Thursday after a slew of financial results knocked prices of companies such as lender Standard Bank and mining firm Harmony Gold. Shares of e-commerce firm Naspers retreated from a record high hit the previous day, ending down 4.68 percent at 1,365.40 rand. Naspers jumped on Wednesday after China's Tencent, in which it owns over a third, reported higher first-half earnings. The benchmark Top-40 index ...


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