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Middle East & Africa


South African stocks break two-day losing streak on metals rally JOHANNESBURG: South African stocks rose on Tuesday led by mining firms such as Harmony Gold and AngloGold Ashanti as the devaluation of the currency of top consumer China pushed the risk-averse bullion higher. China unexpectedly devalued its yuan currency after a run of poor economic data, sending shares and global currencies lower. Gold prices rose 1 percent to a three-week high as investors sought safety from volatile currency and stock markets.This benefited AngloGold, Africa's top bullion producer, which rose 3.5 percent to 77.61 rand while Harmony climbed 4.8 percent to 12.70 rand. "Gold stocks have performed particularly well today - we have seen a nice bounce back in prices because of the surprise devaluation," said Vasili Tirasis, a trader at BP Bernstein. The benchmark Top-40 index rose 0.41 percent to 46,622 points while the wider All-share index ended up 0.4 percent at 52,221 points. Iron ore hit a one-month high ...

Gulf sentiment may remain negative as oil extends losses DUBAI: Gulf stock markets may stay under pressure on Sunday after oil prices fell further, with no major corporate news to offset the negative background.Crude oil dipped on Friday, plumbing multi-month lows and posting a sixth straight week of losses, as the approaching end of the U.S. summer driving season suggested a growing surplus in gasoline supply.Brent settled down 91 cents, or 1.8 percent, at $48.61 a barrel. It was down 7 percent for the ...
Gulf markets slip after oil hits fresh lows DUBAI: Most stock markets in the Gulf edged down in early trade on Sunday after oil prices hit fresh multi-month lows.Crude oil dipped on Friday, posting a sixth straight week of losses, as the approaching end of the U.S. summer driving season suggested a growing surplus in gasoline supply.Although most listed companies in the Gulf have no direct exposure to oil, government spending fuelled by oil revenues is the main driver of economic growth in ...
Gulf markets edge up on Q2 results, firmer oil DUBAI: Most Gulf stock markets edged up early on Wednesday as Brent oil climbed back above $50 per barrel and shares in DAMAC soared after the Dubai developer reported a more than tripling in its quarterly profit.Dubai's stock index inched up 0.1 percent, with DAMAC accounting for nearly two-thirds of total traded value, rising 9.1 percent to a record high of 3.49 dirhams.DAMAC said its second-quarter profit jumped 207 percent to 1.42 billion dirhams ($386.6 ...
Saudi drops 3.2pc in sell-off on weak oil, Q2 earnings DUBAI: Saudi Arabia's stock market fell sharply by mid-afternoon on Sunday after oil prices hit six-month lows and several companies posted disappointing earnings.The benchmark dropped 3.2 percent to 8,808 points, its lowest since early April, with nearly all stocks in the red. It has no significant technical support left above the April low of 8,502 points.Heavyweight petrochemicals giant Saudi Basic Industries tumbled 5.2 percent. The company's profits have been hurt by the drop in oil ...
Gulf mixed, DAMAC lifts Dubai ahead of results DUBAI: Stock markets in the Gulf were narrowly mixed in early trade on Sunday as Dubai outperformed, supported by positive earnings and expectations.The emirate's index rose 0.5 percent, supported by Dubai Islamic Bank, up 1.3 percent, and property developer DAMAC, which jumped 2.6 percent.Dubai Islamic Bank beat analysts' forecasts with a 35 percent rise in second-quarter net profit last week and DAMAC said on Sunday its board would discuss second-quarter results and a dividend payout ...
Saudi Arabia falls on weak oil; Egypt up DUBAI: Saudi Arabia's stock market fell in early trade on Sunday after oil prices dropped, while Egypt's bourse was rose slightly after encouraging news on the country's investment projects.The main Saudi index fell 1.7 percent and petrochemicals giant Saudi Basic Industries, down 1.8 percent, was the main drag. The company's profits have been hurt by the drop in oil prices over the last 12 months and the commodity's fresh weakness is a concern for investors.U.S. ...


Index Closing Chg%
Arrow DJIA 17,131.86 0.28
Arrow Nasdaq 4,838.65 0.17
Arrow S&P 2,017.46 0.13
Arrow FTSE 6,371.18 0.70
Arrow DAX 10,119.83 0.23
Arrow CAC-40 4,688.70 0.27
Arrow Nikkei 18,438.67 1.67
Arrow H.Seng 22,730.93 1.21
Arrow Sensex 26,904.11 0.65

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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 $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 08, 2015
Reserves $20.05 bln