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Middle East & Africa


Mideast stocks mostly flat in early trade, Egypt pulls back DUBAI: Most markets in the region moved very little in early trade on Monday as bourses in the United Arab Emirates and Qatar consolidated after one-off foreign fund inflows.S&P Dow Jones has upgraded the UAE and Qatar to emerging market status from Monday and funds tracking its benchmark moved into both markets at the end of last week, causing an upswing, which was followed by a pull-back in the last session.Some stocks from the region have also become constituents of FTSE indexes for the first time, further exacerbating their price moves.Dubai's index was nearly flat in early trade amid mixed performance by individual stocks. Mobile phone operator du was the main support, adding 2.5 percent, while top developer Emaar Properties, down 0.4 percent, was the main drag.Abu Dhabi's benchmark was also unchanged. Abu Dhabi Islamic Bank fell 2.2 percent and Sharjah Islamic Bank dropped 3.5 percent, but telecommunications firm Etisalat ...

Saudi Arabia's bourse may weaken ahead of NCB IPO DUBAI: Investors in Saudi Arabia may start selling stocks on Monday and setting aside cash for the upcoming initial public offer of National Commercial Bank (NCB) after the lender said it would launch the subscription next month.NCB is Saudi Arabia's largest bank by assets and the offer, in which it plans to sell 15 percent of shares to the public and place a further 10 percent with a state fund, is expected to be one ...
South Africa stocks end lower as commodities weigh JOHANNESBURG: South African stocks ended Friday slightly lower as subdued commodity prices and concerns about Chinese growth pulled resource shares down, although other sectors were propped up by global market relief over the outcome of Scotland's referendum. Shares on the back foot included iron ore producer Kumba , which shed 1.15 percent. Bullion producers were also under pressure as the precious metal was poised for its third straight weekly drop in the face of dollar ...
UAE, Qatar up on FTSE index review; Medinet Nasr lifts Egypt DUBAI: An influx of foreign funds due to changes in some FTSE indexes boosted stock markets in the United Arab Emirates and Qatar on Thursday, while Egyptian real estate developer Medinet Nasr surged after announcing an ambitious sales target.Dubai's main index rose 2.3 percent as Emaar Properties, the emirate's largest developer, jumped 5.0 percent to 11.60 dirhams.Emaar had peaked at 12.00 dirhams this month after announcing the launch of the initial public offer of its ...
UAE, Egypt edge up; Qatar slips after index rejig DUBAI: Bourses in the United Arab Emirates and Egypt edged up in early trade on Thursday on the back of property and banking stocks, while Qatar's index pulled back after the stock exchange announced changes to the benchmark. Dubai's main index rose 0.9 percent, supported by blue chips Emaar Properties and Dubai Islamic Bank, up 2.3 and 1.3 percent respectively. Emaar came under pressure earlier this week as retail investors sold some of their holdings ...
Waha Capital's buy-back may lift Abu Dhabi; Qatar tweaks index DUBAI: Shares in Abu Dhabi's Waha Capital may rise further on Thursday after its board approved a buy-back of up to 10 percent of outstanding stock, while some companies in Qatar may come under pressure after being dropped from the main index. Waha Capital, an investment firm, said early on Thursday it would repurchase up to 194 million shares, but did not disclose the price it would offer. The stock has already risen 7.5 percent ...
Saudi rises on economic reform plans; better global mood boosts region DUBAI: Saudi Arabia's stock market led the region higher on Wednesday because of optimism over the government's economic reform efforts, while other markets were buoyed by a more positive global mood.The main Saudi index gained 0.8 percent to 11,081 points, with major mining company Ma'aden rising 3.1 percent.The Capital Market Authority said on Wednesday that it would permit off-market trading of shares in companies which had been suspended or delisted from the exchange.There are only ...


Index Closing Chg%
Arrow DJIA 16,614.81 1.31
Arrow Nasdaq 4,419.48 2.40
Arrow S&P 1,941.28 1.96
Arrow FTSE 6,372.33 1.68
Arrow DAX 8,886.96 1.94
Arrow CAC-40 4,081.24 2.25
Arrow Nikkei 14,804.28 2.03
Arrow H.Seng 23,088.58 0.08
Arrow Sensex 26,575.65 0.55

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln