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Middle East & Africa


South African stocks end slightly higher, Capitec hits record high JOHANNESBURG: South African stocks ended slightly higher on Tuesday, following in the footsteps of major overseas markets, with Capitec Holdings surging to lifetime high after the lender reported higher annual profit.Capitec rallied 7.19 percent to close at a record closing high of 499.50 rand, after giving up some of its gains from an earlier peak of 505 rand during the session.The lender's new strategy of targeting wealthier clients in addition to its core low-income customers helped boost its 2014 earnings by 27 percent."It looks like they will continue to gain in the middle to upper end of the markets where they are rolling out branches targeting higher income people," one banking sector analyst who did not want to be named said.Overall, traders took their cue from higher emerging markets stocks as the rally stemming from the U.S. Federal Reserve dampening forecasts of imminent rate rises continued. [The benchmark JSE Top-40 ...

Land tax plan shakes up Saudi market; ruler's return boosts Oman DUBAI: A sell-off in the property sector slowed Saudi Arabia's advance on Tuesday after the government approved a plan to tax undeveloped land, while Oman rallied because of the return of Sultan Qaboos after lengthy medical treatment abroad.The main Saudi index inched up 0.1 percent as food maker Savola Group extended its rebound, jumping 2.9 percent.Another major support was Saudi Cement Co, which rose 2.5 percent. Major builder Abdullah Abdul Mohsin al-Khodari and Sons jumped ...
Kenyan shilling firms on dollar inflows, stocks decline NAIROBI: Kenya's shilling strengthened on Tuesday, helped by dollar flows from offshore investors preparing to buy a government bond due to be auctioned on Wednesday.The main shares index fell for a third straight day.At close of trade, commercial banks quoted the shilling at 91.70/80 to the dollar, from Monday's close of 91.90/92.10.Traders said tight shilling liquidity and dollar inflows from offshore investors seeking to buy a 12-year infrastructure bond worth 25 billion shillings ($272 million) ...
Saudi stock rises despite land tax concerns; Egypt firm DUBAI: Saudi Arabia's stock index edged up in early trade on Tuesday despite a minor panic in the real estate sector triggered by a plan to tax undeveloped land. Egypt's market rose broadly.The main Saudi index climbed 0.6 percent as food maker Savola Group extended its rebound, jumping 3.5 percent.Another major support was Saudi Cement Co, which rose 3.3 percent. Other cement stocks were also strong and modular building producer Red Sea Housing Services rose ...
South African shares slip, MTN tumbles after trading ex-dividend JOHANNESBURG: South African share prices eased slightly on Monday with heavy hitters such as MTN Group trading ex-dividend and despite higher copper prices boosting producers of the metal.Africa's largest telecoms provider MTN gave up the most value on the blue chip list when it lost 5 percent because it started trading without rights to the latest dividend.The benchmark Top-40 index shaved off 0.2 percent to 46,480 and the All-share gave up 0.1 to 52,559.Johannesburg's mining ...
Dubai's Arabtec helps UAE outperform sluggish Gulf DUBAI: A rebound by Dubai builder Arabtec lifted the mood of investors in the United Arab Emirates stock markets on Monday, while other bourses in the Middle East moved very little as oil once again halted its advance.Brent oil slipped 0.2 percent and traded near $55 per barrel after Saudi Arabia indicated it was now pumping near a record high of 10 million barrels per day, adding to concerns about global oversupply.Petrochemicals giant Saudi Basic ...
Gulf markets stand still as oil ends rally DUBAI: Most Gulf stock markets barely moved in early trade on Monday after oil ended its rally, while Dubai builder Arabtec found some support after falling to a 14-month low on poor fourth-quarter earnings.Oil prices dropped around a percentage point in early Asian trade on Monday after Saudi Arabia repeated over the weekend that it would not unilaterally cut its output to defend prices.Bourses in Dubai, Abu Dhabu and Oman were nearly flat, while the ...


Index Closing Chg%
Arrow DJIA 16,643.01 0.07
Arrow Nasdaq 4,828.32 0.32
Arrow S&P 1,988.87 0.06
Arrow FTSE 6,247.94 0.90
Arrow DAX 10,298.53 0.17
Arrow CAC-40 4,675.13 0.36
Arrow Nikkei 19,136.32 3.03
Arrow H.Seng 21,612.39 1.04
Arrow Sensex 26,392.38 0.61

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln