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Saudi, Egypt slip on profit-taking after strong gains DUBAI: Stock markets in Saudi Arabia and Egypt edged down on Monday as investors booked profits after strong gains, while Qatar's bourse rose on expectations for fund inflows when a few local stocks get higher weightings in MSCI's emerging market index.Saudi Arabia's main stock index ended a six-day upswing, closing down 0.6 percent after earlier in the day rising above the psychologically important level of 11,000 points for the first time since January 2008.Trading volume soared when the index began falling and shrank when stocks came off their lows, while 14-day momentum formed a negative divergence - all bearish short-term technical signals that suggested the market might be peaking.The index had jumped over 13 percent since the stock market regulator said on July 22 that it would allow direct investment by foreigners in the first half of next year. It published draft regulations for the reform last Thursday.Another factor behind ...

Saudi bourse pulls back on profit-taking; turnover rises DUBAI: Saudi Arabia's main stock index pulled back because of profit-taking on Monday after earlier in the day breaking through the psychologically important level of 11,000 points for the first time since January 2008.The main Saudi index was nearly flat in the early afternoon after rising 1.4 percent to 11,051 points and then dipping as much as 0.4 percent. The benchmark had gained in the six previous sessions."It's normal profit-taking," said Maged Ali Hasan, head ...
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 ...
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 ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln