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Middle East & Africa


Gulf markets stabilise after sharp drops DUBAI: Stock markets in the Gulf were mixed but appeared to be stabilising on Wednesday after falling sharply earlier in the week in response to oil's weakness.Brent crude dropped about $1 to around $66 a barrel on Wednesday morning on persistent oversupply worries, but that was roughly its level when Gulf markets closed on Tuesday.Saudi Arabia's stock index edged down 0.4 percent shortly after opening on Wednesday as blue chips National Commercial Bank and Saudi Basic Industries fell 0.9 and 1.1 percent respectively. The benchmark had dropped 3.5 percent in the previous two sessions.Qatar's index fell 0.5 percent, but several stocks pared early losses and moved into positive territory. Qatar Islamic Bank rose 0.8 percent and Doha Bank added 1.1 percent.Dubai's stock index rose 0.9 percent, having dropped as much as 1.4 percent shortly after the opening. The benchmark lost 9.2 percent earlier this month in a broad sell-off which ...

Gulf markets mixed as oil's rebound falters DUBAI: Stock markets in the Gulf were mixed in early trade on Wednesday after oil's rebound late on Tuesday turned out to be short-lived, keeping investors guessing about where the commodity will find a floor.Brent crude dropped about $1 to around $66 a barrel on Wednesday morning on persistent oversupply worries. Dubai's stock index rose 1.2 percent after dropping as much as 1.4 percent shortly after the opening. The benchmark lost 9.2 percent earlier this ...
South Africa stocks post biggest daily loss in a year JOHANNESBURG: South African shares plunged more than 2 percent on Tuesday, the biggest one-day drop in a year, as falling oil and commodity prices depressed sentiment and dragged iron ore producers such as Kumba lower.Transport company Imperial and e-commerce firm Naspers were also hit by investors booking profit after weeks of the share prices running."We are still definitely down with what's happening in energy markets and iron ore prices are still down," said Ferdi Heyneke, ...
Gulf markets tumble as oil hits fresh low; Dubai down 3.5pc DUBAI: Most stock markets in the Gulf fell sharply on Tuesday after oil prices hit five-year lows, triggering a fresh wave of panic selling of shares by local retail investors, though most fund managers and analysts think the region can cope comfortably with cheaper oil.Dubai's market, traditionally the Gulf's most volatile, tumbled 3.5 percent to 3,889 points, though it closed well above its intra-day low of 3,761 points. It rebounded from near major technical support ...
Kenyan shares, currency edge down NAIROBI: Kenyan shares retreated on Tuesday as investors booked gains from a recent rally while the shilling also headed down in thin trading.The benchmark NSE-20 share index lost 0.38 percent to close at 5,173.77 points. Market participants attributed the weakness to a drop in the price of large companies such as East African Breweries."It has retreated slightly ... while we think the company is well positioned, it is looking a bit pricey," said Eric Musau, ...
Gulf shares dive as oil prices hit new lows DOHA: Stock markets of the energy-rich Gulf states tumbled Tuesday as oil prices hit new five-year lows, although shares recovered some losses at the close, traders said.The decline was led by the Dubai Financial Market, which dropped 6.0 percent to a five-month low, before a partial recovery.The DFM closed at 3,888.79 points, down 3.5 percent. It was pulled down by market leader Emaar real estate, which lost 3.6 percent.Abu Dhabi Securities Exchange fell 2.0 percent.Saudi ...
Dubai stock index ends down 3.5pc, well off lows DUBAI: Dubai's main stock index tumbled on Tuesday in response to a fresh drop in oil prices, but reduced its losses and held above major technical support after oil came off its lows.The benchmark closed 3.5 percent down at 3,889 points, well above its intra-day low of 3,761 points. It held its July low of 3,731 points.Developer Emaar Properties, the emirate's largest listed firm, dominated trading and closed 3.6 percent down at 8.02 dirhams, off ...


Index Closing Chg%
Arrow DJIA 17,804.80 0.15
Arrow Nasdaq 4,765.38 0.36
Arrow S&P 2,070.65 0.46
Arrow FTSE 6,545.27 1.23
Arrow DAX 9,786.96 0.25
Arrow CAC-40 4,241.65 0.18
Arrow Nikkei 17,621.40 2.39
Arrow H.Seng 23,116.63 1.25
Arrow Sensex 27,371.84 0.90

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln