Middle East & Africa
Wednesday, 12 December 2012 12:28
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JOHANNESBURG: South Africa's Top-40 index scaled a fresh peak on Wednesday in opening trade, pulled up by a late-year rally in major global markets, but then fell back into negative territory.
The Top 40 index opened 0.05 percent higher at a new record level of 34,260.03. The wider All-share index also briefly hit a new high of 38,546.34 before also slipping into the red.
Copyright Reuters, 2012** ...
VIENNA: Iraq, the world's fastest growing crude exporter, expects more quick gains next year as foreign companies push production towards the highest level ever, Iraqi Oil Minister Abdul-Kareem Luaibi said on Sunday.
After stagnating for decades due to wars and sanctions, Iraq's oil output began to rise in earnest in 2010 after Baghdad secured service contracts with companies such as BP, Eni , Exxon Mobil and Royal Dutch Shell.
Flows have now reached 3.4 million barrels per ...
JOHANNESBURG: South African stocks retreated from record highs on Monday as a Greek plan to buy back bonds put pressure on Johannesburg-listed bullion producers such as Gold Fields.
South Africa's biggest gold producers AngloGold Ashanti, Harmony and Gold Fields all lost more than 2 percent.
Greece announced on Monday a 10 billion euro bond buy-back plan intended to reduce its ballooning debt and open aid taps, which cheered the market's appetite for assets riskier than gold.
Uncertainty in ...
DUBAI: Egypt's index rose on Sunday, recouping some of last week's steep losses, after fears of clashes between supporters of President Mohamed Mursi and his opponents over the weekend proved unfounded.
Middle East markets were mixed, with Saudi Arabia up for a third session since Tuesday's 10-month low, while Kuwait gave back early gains as a post-election bounce proved short-lived.
Egypt's Mursi on Saturday called a Dec. 15 referendum on a new constitution, hoping to end protests ...
CAIRO: Egypt's main stock market index dropped 4 percent on Monday, extending a fall triggered by a political crisis that eroded a tenth of its value the previous day, on worries that a row over an expansion of the president's powers will bring more turmoil.
At 0840 GMT, just after the market opened, the benchmark index was down 3.9 percent. It is at its lowest level since July this year, shortly after President Mohamed Mursi assumed ...
DUBAI: Dubai's economy grew 4.1 percent year-on-year in the first half of this year when adjusted for inflation, with most economic sectors expanding, Arif Obaid al-Muhairi, Executive Director at Dubai Statistics Center, said on Monday.
Real gross domestic product rose to 161.5 billion dirhams ($44 billion) in January-June, he said.
The economy of Dubai, one of seven members of the United Arab Emirates, expanded 3.4 percent in 2011, helped by strong trade flows and rising tourist numbers.
Copyright ...
JOHANNESBURG: South Africa's All-share index hit a fresh record high on Thursday after solid manufacturing data from the United States and China sparked optimism about that global growth may be recovering.
The index touched an all-time high of 37,811.23 from a previous record of 37,749.90.
Copyright Reuters, 2012 ...
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