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Gulf markets dip, tracking oil; Egypt extends gains DUBAI: Most Gulf stock markets slipped on Sunday after oil prices fell, while Egyptian equities extended gains following the delay of an unpopular capital gains tax.Brent oil fell $1.17, or 1.8 percent, to $65.37 a barrel on Friday, declining 2.1 percent on the week as a rallying dollar and profit-taking ahead of a long U.S. holiday weekend cut short a two-day rally.Petrochemicals giant Saudi Basic Industries, whose profits are sensitive to oil prices, dropped 2.5 percent and was the main drag on Saudi Arabia's index which lost 0.4 percent.Other blue chips were also mostly weak as investor sentiment appeared to suffer following an Islamic State suicide bomb attack. The blast killed 21 worshippers on Friday in a packed Shi'ite mosque in eastern Saudi Arabia in one of the deadliest assaults in recent years in the largest Gulf Arab country.But Bahri, the exclusive oil-shipper for Saudi Aramco, rose 1.9 percent to ...

Gulf markets mixed after oil prices retreat DUBAI: Gulf stock markets were mixed in early trade on Sunday after oil prices fell and corporate news provided few positive catalysts.Brent oil settled down $1.17, or 1.8 percent, at $65.37 a barrel on Friday, falling 2.1 percent on the week as a rallying dollar and profit-taking ahead of a long U.S. holiday weekend cut short a two-day rally.Dubai's index dropped 0.7 percent as most stocks declined. Developer DAMAC and builder Arabtec , the most ...
Saudi shares slip after oil price drop, bomb attack; Egypt up DUBAI: Saudi Arabia's stock market fell in early trade on Sunday after oil prices fell and Islamic State militants carried out their first attack in the kingdom, while Egypt's bourse extended gains after rising above key technical resistance.Brent oil fell $1.17, or 1.8 percent, to $65.37 a barrel on Friday, declining 2.1 percent on the week as a rallying dollar and profit-taking ahead of a long U.S. holiday weekend cut short a two-day rally.Petrochemicals giant ...
South African stocks flat despite further losses by healthcare groups JOHANNESBURG: South African stocks were flat on Friday despite gains by medical fund and financial services group Discovery and private bank Investec as private healthcare stocks fell further. South Africa's largest private hospital operator, Mediclinic , fell the most among the bourse's blue chips, dropping by nearly 3 percent after shedding 8 percent on Thursday when it posted results at the lower end of its own profit guidance.Netcare, another company in the sector also extended ...
South African stocks up, Kumba jumps as prices strengthen JOHANNESBURG: South African shares climbed on Monday led by mining companies such as Kumba Iron Ore which rose on higher iron ore futures. Kumba was up 2.5 percent to 161.71 rand as a restocking beef up has driven up prices by 20 percent since April."Everything is up slightly but the resources are definitely the driving force today ... commodity prices are generally stronger and there's just a bit of kick coming through there," said Desmond ...
South African stocks up, Kumba jumps as prices strengthen JOHANNESBURG: South African shares climbed on Monday led by mining companies such as Kumba Iron Ore which rose on higher iron ore futures.Kumba was up 2.5 percent to 161.71 rand as a restocking beef up has driven up prices by 20 percent since April."Everything is up slightly but the resources are definitely the driving force today ... commodity prices are generally stronger and there's just a bit of kick coming through there," said Desmond Reilly ...
Background mixed for Gulf; S&P upgrade may support Egypt DUBAI: Mixed messages from the oil market and concern that full-scale fighting in Yemen may soon resume could leave Gulf bourses trading sideways on Sunday, while Egypt may stabilise after Standard and Poor's revised its debt outlook to positive.Brent crude edged up on Friday, but U.S. oil fell as traders and investors debated whether oil's rally over the past month and a half should continue amid stubbornly high supplies.In Yemen, a five-day humanitarian truce agreed ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln