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Middle East & Africa


South African stocks end slightly higher, Famous Brands shines JOHANNESBURG: South African stocks ended a touch higher on Monday, with Famous Brands hitting a record high after the fast-food chain operator said it will buy into a meat processing factory.Shares of resources companies slid after weak Chinese import data heightened concerns about the demand for commodities.Famous Brands, the country's biggest burger and pizza chain operator, said it will acquire 75 percent of Cater Chain for an undisclosed amount to bulk up its supply chain.Shares in the company, which is trying to fend off competition from global fast-food chains, scaled a record high of 115.09 rand before closing 5.2 percent higher at 113.64 rand, their biggest percentage gain in more than two years.The deal would help Famous Brands source burger meat for cheaper, analysts said."This is where you make the money," said Sasha Naryshkine, an analyst at asset manager Vestact in a note. "Provided of course that the same burger ...

Dubai leads losses as oil drags Gulf down DUBAI: Most stock markets in the Gulf fell on Monday after oil prices sank to new lows and Dubai's index dropped as investors dumped shares in Emaar Properties , which had gone ex-dividend.Dubai's bourse fell 3.3 percent to 4,031 points and Emaar tumbled 7.0 percent late in the session to 8.32 dirhams; both hit five-month lows.While there was no fundamental reason for such a steep drop by Dubai's biggest listed property firm, the most likely ...
Saudi Arabia's petrochemicals fall further DUBAI: Saudi Arabia's bourse edged down in early trade on Monday as petrochemicals once again weighed on the market after negative news and a fresh decline in the price of oil.The kingdom's main stock index fell 0.6 percent and Saudi Basic Industries was the main drag, sliding 0.8 percent. Its subsidiary Yanbu National Petrochemical Co (Yansab) , which last week proposed a dividend cut and announced plans to shut down a plant for maintenance, fell ...
Downbeat oil prices may weigh on Gulf markets DUBAI: Falling crude prices may keep Gulf stock markets under pressure on Monday as oil dominates the thinking of retail investors. Oil prices dropped more than a dollar on Monday to approach early December's five-year lows after Morgan Stanley cut its price forecast for Brent crude, saying oversupply would likely peak next year after OPEC opted not to cut output. Although analysts say most Gulf nations will be able to maintain spending despite lower revenues, ...
Petchems weigh on Saudi Arabia; Egypt up DUBAI: Petrochemicals dragged down Saudi Arabia's bourse in early trade on Sunday after oil fell further at the end of last week and Yansab announced plans to cut dividends and shut down a plant for maintenance.Brent crude slipped 0.8 percent to $69.07 a barrel on Friday after Saudi Arabia slashed its oil prices for Asian and U.S. buyers.The kingdom's main index edged down 0.4 percent. Shares in Saudi Basic Industries fell 0.9 percent and its ...
Most Gulf markets slip, Oman leads losses after credit outlook cut DUBAI: Most stock markets in the Gulf declined in early trade on Sunday after oil prices slid further at the end of last week, while Oman was hit hardest because of its plans to cut spending and increase taxes. The Muscat index fell 1.9 percent as all traded stocks were in the red; Raysut Cement tumbled its daily 10 percent limit after the company said the state-guided price it paid for gas would double next ...
South African stocks log third straight weekly loss as miners falter JOHANNESBURG: South African stocks eked out modest gains on Friday, but that was not enough to keep them from booking their third straight week of losses on lingering worries about the outlook for commodities.Bourse heavyweight SABMiller gave the biggest lift to the benchmark index, gaining 1.8 to 603.96 rand, as better-than-expected US jobs data signalled brighter prospects for the global economy. Mining shares restricted the upside momentum as gold and other metal prices slipped and ...


Index Closing Chg%
Arrow DJIA 17,356.87 1.69
Arrow Nasdaq 4,644.31 2.12
Arrow S&P 2,012.89 2.04
Arrow FTSE 6,336.48 0.07
Arrow DAX 9,544.43 0.20
Arrow CAC-40 4,111.91 0.46
Arrow Nikkei 16,819.73 0.38
Arrow H.Seng 22,585.84 0.37
Arrow Sensex 26,710.13 0.27

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 15, 2014
Reserves $13.922 bln