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Kenyan shilling firms on dollar inflows, stocks decline NAIROBI: Kenya's shilling strengthened on Tuesday, helped by dollar flows from offshore investors preparing to buy a government bond due to be auctioned on Wednesday.The main shares index fell for a third straight day.At close of trade, commercial banks quoted the shilling at 91.70/80 to the dollar, from Monday's close of 91.90/92.10.Traders said tight shilling liquidity and dollar inflows from offshore investors seeking to buy a 12-year infrastructure bond worth 25 billion shillings ($272 million) had buoyed the local currency."I think it is because of tight liquidity in the money market," Robert Gatobu, trader at Bank of Africa, said."Secondly we are seeing good inflows coming in especially from foreign investors who want to line themselves with the coming infrastructure bond."Corporate demand for dollars, which usually picks up towards the end of the month as payments fall due, could emerge later in the week and possibly weaken the shilling, traders said.Traders ...

Saudi stock rises despite land tax concerns; Egypt firm DUBAI: Saudi Arabia's stock index edged up in early trade on Tuesday despite a minor panic in the real estate sector triggered by a plan to tax undeveloped land. Egypt's market rose broadly.The main Saudi index climbed 0.6 percent as food maker Savola Group extended its rebound, jumping 3.5 percent.Another major support was Saudi Cement Co, which rose 3.3 percent. Other cement stocks were also strong and modular building producer Red Sea Housing Services rose ...
South African shares slip, MTN tumbles after trading ex-dividend JOHANNESBURG: South African share prices eased slightly on Monday with heavy hitters such as MTN Group trading ex-dividend and despite higher copper prices boosting producers of the metal.Africa's largest telecoms provider MTN gave up the most value on the blue chip list when it lost 5 percent because it started trading without rights to the latest dividend.The benchmark Top-40 index shaved off 0.2 percent to 46,480 and the All-share gave up 0.1 to 52,559.Johannesburg's mining ...
Dubai's Arabtec helps UAE outperform sluggish Gulf DUBAI: A rebound by Dubai builder Arabtec lifted the mood of investors in the United Arab Emirates stock markets on Monday, while other bourses in the Middle East moved very little as oil once again halted its advance.Brent oil slipped 0.2 percent and traded near $55 per barrel after Saudi Arabia indicated it was now pumping near a record high of 10 million barrels per day, adding to concerns about global oversupply.Petrochemicals giant Saudi Basic ...
Gulf markets stand still as oil ends rally DUBAI: Most Gulf stock markets barely moved in early trade on Monday after oil ended its rally, while Dubai builder Arabtec found some support after falling to a 14-month low on poor fourth-quarter earnings.Oil prices dropped around a percentage point in early Asian trade on Monday after Saudi Arabia repeated over the weekend that it would not unilaterally cut its output to defend prices.Bourses in Dubai, Abu Dhabu and Oman were nearly flat, while the ...
Saudi shares flat, Egypt slips on fuel shortage DUBAI: Saudi Arabia's stock market moved little in early trade on Monday as oil prices fell, while Egypt dropped after construction firms complained that fuel shortages were delaying their projects.Brent crude was down 1.7 percent after Saudi Arabia said over the weekend that the market defined prices and the kingdom would not unilaterally cut its output to defend prices.Saudi Arabia's main stock index was nearly flat while petrochemicals giant Saudi Basic Industries, whose margins shrink ...
Gulf markets mixed; Arabtec dampens Dubai DUBAI: Gulf stock markets were narrowly mixed in early trade on Sunday, but Dubai builder Arabtec tumbled after swinging to a fourth-quarter loss.Arabtec fell 6.5 percent and was the main drag on Dubai's index, which edged down 0.4 percent.The company posted an unexpected fourth-quarter loss of 94.4 million dirhams ($25.7 million), blaming non-recurring general and administrative expenses.Arabtec reorganised itself and laid off some executives and staff after the abrupt departure in June last year of ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln