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Poor Q4 results weigh on Saudi; Egypt loses steam DUBAI: Shares in Saudi Arabia's top banks fell in early trade on Thursday after several disappointing earnings reports, while Egypt's market slowed its advance as the index ran into technical resistance after three strong sessions.The main Saudi index was nearly flat and Al Rajhi Bank was the main drag, tumbling 4.5 percent after the lender's fourth-quarter profit missed analysts' estimates.Al Rajhi's net profit slipped 1.8 percent to 1.52 billion riyals ($405 million) in the quarter; analysts had expected 1.70 billion riyals.Saudi Arabia's second-largest listed lender also said its board was recommending a 0.75 riyal per share cash dividend for the second half of 2014, down from the 1 riyal per share which the bank paid for the second half of 2013.Shares in the kingdom's largest lender, National Commercial Bank, edged down 0.6 percent after it reported a net profit of 1.83 billion riyals for the fourth quarter, below analysts' average ...

Gulf markets mixed; cheap oil fuels Egypt rally DUBAI: Most Gulf stock markets were neutral to slightly positive on Wednesday, although negative news and earnings reports dragged down some individual stocks. Egypt's bourse extended its winning streak on the back of cheap oil. Saudi Arabia's index added 0.7 percent, partly because of a rebound in beaten-down petrochemicals. Shares in Yanbu National Petrochemical Co (Yansab) surged 4.8 percent after it reported a 39.7 percent rise in fourth-quarter net profit. Yansab, a unit of Saudi ...
Kenyan shares rise in busy trade, shilling slides again NAIROBI: Kenya's benchmark share index climbed 1.1 percent on Wednesday in one of the busiest sessions since the government reimposed a capital gains tax on Jan. 1, while the shilling slipped again to a new three-year low.The implementation of the tax had pushed many investors to the sidelines of the equity market, but analysts said foreigners and locals were now resigned to the return of a levy that had been scrapped in the 1980s."The environment ...
Gulf markets slow advance; Egypt keeps rising DUBAI: Gulf stock markets were neutral to slightly positive on Wednesday, although negative news and earnings reports dragged down some individual stocks. Egypt's bourse posted strong gains for a third day in a row. Saudi Arabia's index added 0.3 percent, partly because of a rebound in beaten-down petrochemicals. Shares in Yanbu National Petrochemical Co (Yansab) jumped 2.1 percent after it reported a 39.7 percent rise in fourth-quarter net profit. Yansab, a unit of Saudi Basic ...
Gulf markets edge up as oil link weakens; Egypt surges DUBAI: Gulf stock markets were volatile on Tuesday as oil prices hit new lows, but most bourses eventually edged up on the back of positive corporate announcements and expectations, continuing a trend towards partially decoupling from oil.Brent crude fell to its lowest level in almost six years and traded below $46 per barrel on Tuesday as the United Arab Emirates defended OPEC's decision not to cut output to tackle a glut in the market.Most Gulf ...
South African shares advance, led by gold producers JOHANNESBURG: South African shares rose more than 2 percent on Tuesday amid expectations that European Union policy makers will intervene to keep the euro zone from slipping into deflation, a move that should help to ease risk aversion.Bullion producers AngloGold Ashanti and Sibanye Gold led the gains as gold reached a 12-week high and investors sought refuge from volatile stocks and depressed oil prices. AngloGold closed 4.45 percent higher at 124.70 rand and Sibanye rose ...
Petrochemicals drag down Saudi market as oil slides DUBAI: Petrochemical shares dragged down Saudi Arabia's stock market on Tuesday as oil prices continued to slide, prompting profit-taking across a wide range of sectors in the Gulf.The Saudi stock index sank 1.8 percent as Brent crude oil plunged below $46 a barrel in Asian trading hours to its lowest level in nearly six years.The Saudi petrochemical sector, which faces direct damage to its earnings from low oil prices, dropped 2.3 percent. But other sectors ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln