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Middle East & Africa


Kenyan shares eke out meagre gains, shilling stable NAIROBI: Kenyan shares nudged slightly higher on Thursday driven largely by Centum Investment and Kenya Power, while the shilling was steady for a second day.The benchmark NSE-20 share index added 0.3 percent to close at 5,089.16 points, staying close to seven-month highs reached at the start of this month.Shares in the investment and power companies helped to keep the bourse in positive territory and were largely taken up by foreign investors."The two shares did well, while most of the market floundered. I think there are long-term players who want to get a foothold in the two companies, which have good prospects," said a Nairobi stocks analyst.Centum's profits soared 24 percent in the year to March, and the company said it would continue its focus on real estate and consumer goods projects in the region.Kenya Power is expected to report a solid set of numbers next month. On Sunday, the power ...

Most markets dip on profit-taking DUBAI: Stock markets in the United Arab Emirates, Qatar and Egypt edged down in early trade on Thursday as investors booked profits after strong gains this week.Dubai's bourse fell 1.0 percent with most stocks in the red. Builder Arabtec, which dominated trading, dropped 2.3 percent to 4.68 dirhams, even though its biggest shareholder and former chief executive Hasan Ismaik said on Wednesday the stock was worth over 5 dirhams. Investors may have been disappointed by ...
Arabtec, DP World may buoy Dubai markets DUBAI: Dubai builder Arabtec looks likely to support the emirate's bourse on Thursday after the company's biggest shareholder said he was in talks to sell part of his stake at a price higher than the current market valuation. Hasan Ismaik, who abruptly resigned as Arabtec's chief executive in June, told Reuters on Wednesday he was in talks with Abu Dhabi state fund Aabar to sell part of his 27.90 percent stake and wanted over 5 ...
Petchems lift Saudi to 6-year high; Arabtec jumps on buyout hopes DUBAI: Expectations of strong global demand for petrochemicals supported the uptrend in Saudi Arabia's stock market on Wednesday, lifting the bourse to a fresh six-year high, while Dubai builder Arabtec jumped on hopes that a key shareholder would increase its stake.Saudi Arabia's main index rose 0.8 percent to 11,030 points, closing above 11,000 points for the first time since January 2008.Petrochemicals were among the main drivers; Saudi Basic Industries rose 1.2 percent, Saudi International Petrochemical ...
South African stocks snap two-day winning streak as miners weigh JOHANNESBURG: South African stocks ended slightly lower on Wednesday, snapping a two-day winning streak, as miners came under pressure from a stronger rand and faltering metal prices.The benchmark JSE Top-40 index was down 0.27 percent at 46,351 and the broader All-share index inched down 0.23 percent to 51,610."The rand is little firmer and the price of iron ore continues to pull back and that is keeping diversified miners under some pressure," said Rabi Thithi, a ...
Kenyan shares buoyed by Kenya Airways, shilling flat NAIROBI: Kenyan stocks climbed for a fourth session in a row on Wednesday, thanks to a recovery in Kenya Airways' shares, while the shilling was flat against the dollar.The benchmark NSE-20 share index added 0.6 percent to close at 5,072.87 points, staying close to seven-month highs reached at the start of this month.Kenya Airways' shares rose 4.7 percent to 10 shillings, having fallen last week when the airline suspended its seven weekly flights to Liberia ...
Arabtec lifts Dubai; Bahrain's GFH rises on financing deal DUBAI: Renewed speculation in the shares of Dubai builder Arabtec lifted the emirate's market in early trade on Wednesday, while Bahrain's Gulf Finance House (GFH) rose after announcing a debt refinancing deal. Dubai's index gained 0.7 percent while Arabtec jumped 3.7 percent and dominated trading volume. Some investors hope Abu Dhabi state fund Aabar Investments, a major shareholder in the firm, will soon buy at least a part of the 27.90 percent stake held by ...


Index Closing Chg%
Arrow DJIA 17,827.75 0.07
Arrow Nasdaq 4,787.32 0.61
Arrow S&P 2,072.83 0.28
Arrow FTSE 6,723.42 0.09
Arrow DAX 9,974.87 0.60
Arrow CAC-40 4,382.34 0.20
Arrow Nikkei 17,248.50 0.78
Arrow H.Seng 24,004.28 0.45
Arrow Sensex 28,438.91 0.19

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