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Middle East & Africa


Downbeat oil prices may weigh on Gulf markets DUBAI: Falling crude prices may keep Gulf stock markets under pressure on Monday as oil dominates the thinking of retail investors. Oil prices dropped more than a dollar on Monday to approach early December's five-year lows after Morgan Stanley cut its price forecast for Brent crude, saying oversupply would likely peak next year after OPEC opted not to cut output. Although analysts say most Gulf nations will be able to maintain spending despite lower revenues, state budgets in Oman and Bahrain may come under pressure, according to a Moody's report published on Monday. "While the sovereign wealth funds of Kuwait, the UAE, Qatar and Saudi Arabia can cover multiple years' worth of government expenditures, Bahrain's and Oman's do not provide that level of cover," it said. "Moody's expects that Saudi Arabia's fiscal balance will turn into a deficit in 2015, and Bahrain and Oman's deficits will widen significantly to above ...

Petchems weigh on Saudi Arabia; Egypt up DUBAI: Petrochemicals dragged down Saudi Arabia's bourse in early trade on Sunday after oil fell further at the end of last week and Yansab announced plans to cut dividends and shut down a plant for maintenance.Brent crude slipped 0.8 percent to $69.07 a barrel on Friday after Saudi Arabia slashed its oil prices for Asian and U.S. buyers.The kingdom's main index edged down 0.4 percent. Shares in Saudi Basic Industries fell 0.9 percent and its ...
Most Gulf markets slip, Oman leads losses after credit outlook cut DUBAI: Most stock markets in the Gulf declined in early trade on Sunday after oil prices slid further at the end of last week, while Oman was hit hardest because of its plans to cut spending and increase taxes. The Muscat index fell 1.9 percent as all traded stocks were in the red; Raysut Cement tumbled its daily 10 percent limit after the company said the state-guided price it paid for gas would double next ...
South African stocks log third straight weekly loss as miners falter JOHANNESBURG: South African stocks eked out modest gains on Friday, but that was not enough to keep them from booking their third straight week of losses on lingering worries about the outlook for commodities.Bourse heavyweight SABMiller gave the biggest lift to the benchmark index, gaining 1.8 to 603.96 rand, as better-than-expected US jobs data signalled brighter prospects for the global economy. Mining shares restricted the upside momentum as gold and other metal prices slipped and ...
Gulf markets rebound as oil price steadies DUBAI: Most Gulf markets gained on Thursday as some investors started buying back beaten-down stocks after oil prices seemed to have established a floor around $70 per barrel during the week.Brent crude has rebounded a few times after dipping below that mark and was relatively steady on Thursday after data showed U.S. crude stocks fell more than expected last week as refineries hiked output."People are taking the lead from crude and trying to catch the ...
Kenyan shilling seen weaker, stocks close higher NAIROBI: The Kenyan shilling held steady around three-year lows on Thursday but was seen weakening on importer dollar demand barring support from the central bank. Stocks rose.The shilling closed at 90.25/35 to the dollar compared with Wednesday's close of 90.20/30.The central bank mopped up a total 2.47 billion shillings in excess liquidity during the session using repurchase agreements."We think that mop up didn't really have an effect," Joshua Anene, trader at Commercial Bank of Africa, ...
Gulf markets upbeat as oil prices rise DUBAI: Most Gulf stock markets gained on Thursday as oil prices rose on U.S. stockpile data.Brent crude was up 0.3 percent at $70.10 a barrel at 0840 GMT after data showed U.S. crude stocks fell more than expected last week as refineries hiked output.Saudi Arabia's index rose 1.1 percent. Major gainers included blue chips Saudi Basic Industries, which jumped 3.9 percent, and Al Rajhi Bank, up 1.7 percent.Shares in construction firm Abdullah Abdul Mohsin al-Khodari ...


Index Closing Chg%
Arrow DJIA 17,409.00 1.31
Arrow Nasdaq 4,683.41 0.98
Arrow S&P 2,017.30 0.95
Arrow FTSE 6,810.60 0.22
Arrow DAX 10,737.87 0.25
Arrow CAC-40 4,631.43 0.44
Arrow Nikkei 17,606.22 1.06
Arrow H.Seng 24,595.85 1.07
Arrow Sensex 29,681.77 0.41

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln