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Middle East & Africa


Saudi Arabia edges up, Egypt extends rally DUBAI: Banking stocks lifted Saudi Arabia's bourse in early trade on Tuesday, while Egypt continued a broad rally after positive purchasing managers' data and comments by the International Monetary Fund. The main Saudi index edged up 0.3 percent, largely on the back of lenders Samba Financial Group and Banque Saudi Fransi, up 1.3 and 1.6 percent respectively. The kingdom's finance minister said on Tuesday that Saudi Arabia's financial position was very strong despite the plunge in oil prices since last year. Ibrahim Alassaf also said the kingdom was focusing spending on economic development projects to stimulate the private sector.The announcement late on Monday of rules covering the opening of the Saudi market to direct foreign investment from June 15 appeared to have little impact on shares. The rules were almost identical to draft rules circulated last August, and included significant foreign ownership restrictions, including a 10 percent ceiling on combined ...

South Africa stocks creep up, resources in demand JOHANNESBURG: South African shares crept up on Monday, led by resources stocks as investors bet China would come up with measures to boost the world's largest consumer of commodities following weak manufacturing data.China's factories suffered their fastest drop in activity in a year in April, as demand faltered and deflationary pressures persisted.South African bourse heavyweights Anglo American and rival BHP Billiton climbed 3 percent to 138.89 rand and 3.6 percent to 295 rand respectively."Resources are ...
South African stocks dip as commodity prices soften JOHANNESBURG: South African stocks fell on Thursday dragged down by commodity firms such as Impala Platinum and AngloGold Ashanti which tracked softer commodity prices.Spot gold and platinum fell by about 2 percent after better-than-forecast U.S. jobs data boosted the dollar, reviving expectations the Federal Reserve could raise interest rates soon.Platinum producer Impala Platinum fell 4 percent and Africa's biggest bullion producer AngloGold lost 1.8 percent.The blue chips Top-40 index fell 0.21 percent to 48,195 and ...
South African stocks fall from record highs, Coronation slides JOHANNESBURG: South African stocks retreated from record highs on Tuesday on as Coronation Fund Managers flagged lower first-half earnings but iron ore companies bucked the weaker trend.Shares in Coronation slid 8.8 percent to 96 rand, its biggest daily decline in six years after the money-manager reported that profits would slip by up to 15 percent.The benchmark Top-40 index was down 0.42 percent to 48,758 and the broader All-share index down 0.27 percent to 55,039.Iron ore ...
Poor telecom earnings, US Fed and oil may dampen Gulf DUBAI: Gulf equity markets may stall or pull back slightly on Tuesday after several poor earnings reports and ahead of a US Federal Reserve meeting, as well as US oil inventory data that is expected to hit another high.Brent crude is trading near $64 per barrel in Asia, down more than 1 percent, as US commercial crude stockpiles are anticipated to rise for a 16th straight week.Meanwhile, Asian equities have slipped, tracking Wall Street, which ...
Saudi, Dubai pull back after rallies; Egypt nears 2015 low DUBAI: Gulf stock markets were mixed on Monday as strong oil prices supported investor sentiment but Saudi Arabia and Dubai pulled back slightly from 2015 highs hit in the previous session. Egypt remained depressed by tax and foreign currency concerns. Brent crude slipped less than 1 percent to around $65 per barrel while Gulf stock markets were open on Monday as the US dollar strengthened. But signs that US shale oil output may have started ...
Oil buoys Gulf markets; Dubai, Saudi hit 2015 highs DUBAI: Most major Gulf stock markets, led by Dubai, rose on Sunday after the Brent oil price hit a 4-1/2-month high, while the bourse of energy importer Egypt closed in the red. Brent crude climbed to $65.80 a barrel on Friday because of continued fighting in Yemen and, although US crude fell on concerns about another upcoming stock build, both benchmarks posted weekly gains. The main Saudi equities index gained 1.2 percent on Sunday to ...


Index Closing Chg%
Arrow DJIA 18,232.02 0.29
Arrow Nasdaq 5,089.36 0.03
Arrow S&P 2,126.06 0.22
Arrow FTSE 7,031.72 0.05
Arrow DAX 11,815.01 0.42
Arrow CAC-40 5,142.89 0.07
Arrow Nikkei 20,264.41 0.30
Arrow H.Seng 27,992.83 1.70
Arrow Sensex 27,957.50 0.53

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln