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Middle East & Africa


Dubai, Saudi Arabia may remain under pressure DUBAI: Stock markets in Dubai and Saudi Arabia may slide further on Monday after both closed near their daily lows on Sunday, and as the global background appears unsupportive. A diplomatic reconciliation with its neighbours could lift the mood in Qatar. Dubai's index fell 1.2 percent and closed on its intra-day low of 4,603 points on Sunday as Arabtec tumbled 5.9 percent after its third-quarter profit missed analysts' estimates.Saudi Arabia's index lost 1.3 percent and closed at 9,554 points, not far from the intra-day low of 9,525 points, after shares in Saudi Arabian Mining Co (Ma'aden), whose price was reduced by 7.5 percent to reflect dilution from a rights issue, fell a further 2.9 percent. On global markets, Japanese stocks are dropping on Monday on news the country has slipped into recession, and other Asian equities are edging down.Brent crude oil fell to $79 a barrel following the news from ...

Maa'den weighs on Saudi; Egypt up after S&P affirms rating DUBAI: Saudi Arabia's stock market fell in early trade on Sunday as heavyweight Ma'aden dropped after announcing a rights issue, while Egypt's bourse edged up after Standard and Poor's affirmed the country's sovereign credit rating.The main Saudi index fell 1.1 percent. Shares in Saudi Arabian Mining Co (Ma'aden) plunged 9.7 pct to 32.50 riyals.Ma'aden said on Sunday that the subscription period for its 5.6 billion riyal ($1.5 billion) rights issue would start on Tuesday; the ...
Earnings lift UAE but disappoint in Egypt; oil hits Saudi DUBAI: Stock markets in the Middle East were mixed on Thursday as United Arab Emirates bourses rose while disappointing third-quarter earnings weighed on Egypt and Saudi Arabia saw a broad sell-off after oil prices hit four-year lows.Dubai's index edged down early in the session but then bounced back and closed 1.7 percent up as heavyweight Emaar Properties jumped 4.8 percent to 11.00 dirhams, a one-month high. The stock still trades below levels seen in September ...
South Africa stocks eke out gains but platinum producers sink JOHANNESBURG: South African stocks advanced modestly on Thursday but gains were capped by platinum producers, which sank as the precious metal's spot price approached five-year lows below $1,200 an ounce.Aquarius Platinum fell 3.9 percent, making it the biggest decliner of the session, followed by Royal Bafokeng Platinum, which shed 3.6 percent. Lonmin, the world's third largest producer, fell 2.4 percent.Retailers led advancers as crude oil fell below $80 a barrel for the first time in ...
Weak oil, Chinese data weigh on Saudi Arabia stock DUBAI: Saudi Arabia's bourse edged down in early trade on Thursday as petrochemical stocks fell after crude oil hit a fresh low and China released data confirming its economy was cooling down.The main Saudi index was down 0.5 percent while the petrochemical index fell 0.7 percent. Saudi Basic Industries (SABIC), the sector's leader and the kingdom's biggest listed company, lost 1.2 percent.Brent crude futures fell below $80 a barrel on Wednesday for the first time ...
Earnings lift Abu Dhabi; Dubai slips DUBAI: Positive third-quarter earnings supported Abu Dhabi's bourse in early trade on Thursday while Dubai pulled back after posting strong gains earlier in the week. Abu Dhabi's index climbed 0.1 percent.Waha Capital dominated trading volumes and jumped 2.9 percent.The company said on Sunday its third-quarter profit more than doubled, and the stock's strong performance afterwards has attracted an increasing number of buyers.Shares in Aldar Properties, the emirate's largest listed developer, rose 0.6 percent after it ...
Biggest Saudi bank set to surge on listing DUBAI: Saudi Arabia's largest lender, National Commercial Bank (NCB), is set to surge by its daily 10 percent limit when listing on Wednesday after a heavily oversubscribed $6 billion initial public offer, the world's second-largest this year. The bank completed the share sale last week and said its $3.6 billion retail portion was 23 times oversubscribed.Demand for the IPO was huge partly because Saudi authorities tend to price initial public offers of equity cheaply, using ...


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