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Middle East & Africa


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 in anticipation of the market being opened to direct foreign investment on June 15.Fresh inflows have been minimal so far, disappointing some local retail investors. The latest exchange data for foreign ownership of Saudi stocks, published on Sunday, showed no significant changes on Thursday.A 2 percent drop in global oil prices on Friday further dented petrochemical shares. Saudi Basic Industries, the biggest petrochemical producer, slid 2.2 percent while PetroRabigh lost 1.8 percent.Al Rajhi Bank sank ...

South African stocks snap three-day losing streak, BAT in demand JOHANNESBURG: South African stocks rose on Wednesday, with the main indexes break a three-day losing streak, and British American Tobacco (BAT) was among the top gainers after a broker upgrade.BAT, the world's No. 2 cigarette maker, jumped 3.7 percent to 6,383.50 rand, making the biggest advance on the blue-chip Top-40 index, after Goldman Sachs upgraded its rating to 'neutral' from 'sell'.Overall, traders refrained from making large bets ahead of the U.S. Federal Reserve statement that ...
Gulf markets to consolidate before Ramadan DUBAI: Middle East stock markets look set to consolidate with a negative bias on Wednesday as investors in the region prepare for the Muslim holy month of Ramadan, which begins on Thursday and usually brings a period of very low trading activity. Trading volumes in most markets have already been declining in the last few days and some bourses, such as Egypt's stock exchange, are reducing trading hours during Ramadan. The Cairo market will close ...
Gulf markets slip in line with oil; Egypt up after China deal DUBAI: Most stock markets in the Gulf fell on Tuesday after a rebound in the Brent oil price proved short-lived and foreign fund inflows into Saudi Arabia remained tiny following the market's opening to international institutions this week. The main Saudi index slipped 0.2 percent as heavyweights Saudi Basic Industries and National Commercial Bank lost 0.4 and 0.8 percent respectively. Most other components of the provisional MSCI Saudi Arabia index also fell, having rallied in ...
Oil's turnaround may support Gulf markets DUBAI: Stronger oil prices may buoy Gulf stock markets on Tuesday, but retail investors' disappointment with the slow pace of foreign fund inflows in Saudi Arabia and the approach of the Muslim holy month of Ramadan could cap any gains.Brent crude has edged up 0.5 percent and US light has risen 1.0 percent in Asian trade on Tuesday, boosted by warnings that a tropical storm was about to hit the coast of oil producing state ...
Saudi Arabia edges up ahead of opening to foreigners, Egypt slips DUBAI: Saudi Arabia's bourse edged up in early trade on Sunday ahead of its opening to direct foreign investment, while Egypt slipped.The main Saudi stock index climbed 0.3 percent, buoyed by some of the blue chips which are most likely to be targeted by foreign investors.Foodmaker Savola Group rose 0.8 percent, petrochemicals giant Saudi Basic Industries added 0.6 percent and miner Ma'aden was up 1.1 percent.Qualified foreign investors with licences from the kingdom's Capital Market ...
Gulf markets mixed; Dubai's Amlak extends losses DUBAI: Gulf stock markets were narrowly mixed in early trade on Sunday after oil prices fell on Friday, giving up most of the gains made earlier in the week.Dubai's stock index edged up 0.6 percent with most stocks positive but Amlak Finance, which was the most traded stock in the emirate, tumbled its daily 10 percent limit for the second session in a row.Shares in the mortgage lender had more than doubled in price earlier ...


Index Closing Chg%
Arrow DJIA 16,643.01 0.07
Arrow Nasdaq 4,828.32 0.32
Arrow S&P 1,988.87 0.06
Arrow FTSE 6,247.94 0.90
Arrow DAX 10,298.53 0.17
Arrow CAC-40 4,675.13 0.36
Arrow Nikkei 19,136.32 3.03
Arrow H.Seng 21,612.39 1.04
Arrow Sensex 26,392.38 0.61

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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 27, 2015
Reserves $18.509 bln