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Mideast stocks blue chips lift Saudi but rally slows DUBAI: Saudi Arabia's bourse edged up in early trade on Wednesday on the back of the blue chips which are seen as most likely to be bought when the market opens to direct foreign investment. But rises slowed after Tuesday's leap.The main Saudi index rose 0.9 percent in the first hour of trade. Petrochemicals giant Saudi Basic Industries (SABIC) added 3.0 percent and Al Rajhi Bank, the largest listed bank, gained 1.5 percent.The benchmark jumped 2.8 percent to a fresh six-year high on Tuesday after Saudi authorities said they planned to allow foreign institutional investors to buy local stocks from the first half of 2015.But the euphoria diminished on Wednesday as some investors took a more realistic view of how much money will actually enter the country in the next 18 months. The regulator is expected to allow foreign inflows to increase only slowly, in order to avoid destabilising the ...

Qatar edges up on bullish property prices; UAE slips DUBAI: Qatar's bourse edged up in early trade on Tuesday after the country's central bank said property prices had climbed to a new peak, while stock markets in the United Arab Emirates slipped.Qatar's benchmark rose 0.7 percent. Property developers Barwa Real Estate and United Development added 2.4 and 2.2 percent respectively.The real estate price index tracked by Qatar's central bank hit a record high in June 2014, jumping 29 percent year-on-year, according to the central ...
Saudi Arabia to open $530bn bourse to foreigners in early 2015 RIYADH/DUBAI: Saudi Arabia plans to open its stock market, the Arab world's biggest, to direct investment by foreign financial institutions in the first half of next year, the market regulator said on Tuesday.The opening of the Saudi market, capitalised at about $530 billion, is one of the most keenly awaited economic reforms in the world's biggest oil exporter. The bourse would be one of the world's last major exchanges to begin welcoming foreign money."The market ...
Saudi bourse at 6-year high on foreign investment news DUBAI: Saudi Arabia's bourse jumped on Tuesday after the kingdom's financial regulator said it would open the stock market to direct investment by foreign financial institutions in the first half of 2015.The main index rose 3.2 percent, its biggest rise since April 2012, to a fresh six-year high of 10,062 points in the first hour of trade.Petrochemical giant Saudi Basic Industries (SABIC) , one of the big blue chips which foreign investors would be expected ...
UAE markets recover; Qatar edges down DUBAI: Dubai's bourse recovered from a sharp drop caused by builder Arabtec on Monday morning, while stocks in Qatar edged down.The Dubai index was nearly flat by mid-session after dropping as much as 4.3 percent shortly after the opening. Arabtec was still down 9.0 percent, but property developer Deyaar rose 3.4 percent, conglomerate Dubai Investments added 2.7 percent and blue-chip lender Dubai Islamic Bank gained 2.5 percent.Shares in Arabtec, which dominates trading volumes in the ...
Egypt's bourse to extend trading hours from August 7 CAIRO: Egypt will lengthen trading hours on its stock exchange and reinstate pre-trading from Aug. 7, it said in a statement on Monday, as it looks to normalise activities following the turmoil of recent years.The trading session will be extended by 30 minutes to four-and-a-half hours, plus half an hour of pre-trading.Share prices will be allowed to move up or down by 10 percent in pre-trading before being suspended in addition to the 10 percent ...
Dubai set to remain volatile; politics could hurt Bahrain DUBAI: Dubai's stock market looks set to remain volatile on Monday after a sharp drop in the last session, while a setback in reconciliation talks between Bahrain's government and the opposition could weigh on that bourse. The Dubai index tumbled 6.0 percent on Sunday, wiping out most of last week's gains, after Aabar Investments, a key shareholder in construction firm Arabtec, did not confirm a report which said Aabar planned to raise its stake. The ...


Index Closing Chg%
Arrow DJIA 17,079.57 0.25
Arrow Nasdaq 4,557.70 0.26
Arrow S&P 1,996.74 0.17
Arrow FTSE 6,805.80 0.36
Arrow DAX 9,462.56 1.12
Arrow CAC-40 4,366.04 0.66
Arrow Nikkei 15,459.86 0.48
Arrow H.Seng 24,741.00 0.71
Arrow Sensex 26,638.11 0.29

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