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Middle East & Africa


South African stocks down, Mediclinic sheds nearly 2pc JOHANNESBURG: South African stocks ended lower on Tuesday with Mediclinic International leading the decline, while gold stocks recovered from their previous day's heavy losses as the price of gold steadied. South Africa's largest private hospital group Mediclinic was the worst performer among the bourse's blue chips, falling 1.96 percent to end at 106.45 rand after announcing the dates on which it will issue 111.1 million new shares. Mediclinic said last month will use the proceeds of the rights issue to buy a stake in Britain's Spire Healthcare from South African investment house Remgro Ltd. The 8.6 billion rand deal will mean as much as 70 percent of Mediclinic's profit would come from outside its home market. "Investors will like the 70 percent offshore component, it's a true rand hedge.If the outlook for the rand gets weaker, this will give investors a lot of comfort that there will be foreign earnings," ...

Egypt extends rally on positive news DUBAI: Egypt's stock market rose in early trade on Thursday, supported by positive news from companies as well as by technical factors.The Cairo benchmark added 1.5 percent as property names, beaten down in a series of sell-offs earlier this year, led gains.Amer Group surged 7.0 percent to 1.07 pounds, rising above its late June and early July peak of 1.03 Egyptian pounds.Telecom Egypt jumped 2.3 percent after the firm's chairman told the Mubasher news website ...
Saudi flat on mixed outlook; Egyptian rally ends DUBAI: Saudi Arabia's stock market was little changed in early trade on Monday, with a looming Iran nuclear deal offsetting positive news from Greece, while Egypt's bourse edged lower. European Council President Donald Tusk announced on Monday that after months of tortuous negotiations marathon overnight talks had achieved a third bailout for Greece. However, oil prices tumbled as investors expected world powers to finalise an agreement with Iran on its nuclear programme, which would add ...
Egypt bear run continues; Saudi soft on oil DUBAI: The bear run on Egypt's stock market continued early on Wednesday as property developer Emaar Misr slid further in the wake of its listing, while weak oil prices weighed on Saudi Arabia. The Egyptian stock index sank 1.8 percent to 7,615 points, bringing its losses from February's multi-year peak to 24 percent. The market has been hit by economic worries, such as energy and foreign exchange shortages, and security fears after clashes with militants ...
South African stocks rose, Advetch hit all time high JOHANNESBURG: Stocks in South Africa gained for the fourth straight session on Thursday as Advtech hit an all-time high after the firm received a buyout proposal.Shares in Advtech Ltd, South Africa's second-biggest private education firm, jumped nearly 16 percent to 12.75 rand by 1033 GMT, but pulled back to close at 4.54 percent to 11.52 rand.The firm said on Thursday it had received a buyout proposal from a third party that its board was obliged ...
South African stocks rise as Mediclinic buys British hospital group JOHANNESBURG: South African stocks rose on Monday, led by Mediclinic International and investment group Brait SE, although gold mining shares fell.Mediclinic, South Africa's largest private hospital group, said it would buy nearly a third of British group Spire Healthcare for 8.6 billion rand (about $700 million). The shares dipped 3 percent in early trading but pared losses to close 3.16 percent stronger on 102.80 rand, the biggest gain on the JSE's Top 40 Index.Brait also ...
Saudi slides below chart support on oil; UAE and Qatar firm DUBAI: Saudi Arabia's main stock index fell below technical support on Sunday because of weak oil prices and disappointment that inflows of foreign funds had been slow. Markets in the United Arab Emirates and Qatar rose.The Saudi index fell 1.7 percent to 9,344 points in thin trade, dropping below its 200-day average, now at 9,433.Two straight daily closes below that support would be technically negative, implying a fresh wave of profit-taking after the index rose ...


Index Closing Chg%
Arrow DJIA 16,285.51 3.995
Arrow Nasdaq 4,697.54 4.24
Arrow S&P 1,940.51 3.90
Arrow FTSE 5,979.20 1.68
Arrow DAX 9,997.43 1.29
Arrow CAC-40 4,501.05 1.40
Arrow Nikkei 18,376.83 3.20
Arrow H.Seng 21,080.39 1.52
Arrow Sensex 25,714.66 1.22

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 24, 2015
Reserves $18.678 bln