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Middle East & Africa


Dubai bourse outlook sluggish as profit growth slows DUBAI: Dubai's stock market may stay subdued for months as corporate profit growth slows and investors' attention and money shifts to Saudi Arabia, which is about to open its market to direct foreign investment.For the last several years, Dubai has been the focus for many investors seeking to ride the Gulf Arab economies' economic boom. Its index more than doubled in 2013, making in the best-performing major market in the world.Trading volumes ballooned several-fold as the market recovered from the global financial crisis of 2008-2009. International investors favoured Dubai as one of the region's most open, accessible markets; Gulf investors, keen on short-term trading, were attracted by its liquidity.But in the last few months, there has been a dramatic shift. Total trading volume on Dubai's main bourse in February fell to its lowest level since March 2013, declining for a second month in a row. The index has fallen 4.3 ...

Saudi Arabia stock slips, Egypt pulls back after rally DUBAI: Saudi Arabia's stock market edged down in early trade on Monday because of weak consumer stocks and oil prices, while Egypt pulled back broadly after a rally prompted by announcements of large projects at an investment summit over the weekend.The main Saudi index fell 0.5 percent and food makers Savola Group and Almarai were among the main drags, falling 1.1 and 1.7 percent respectively.Brokerage NBK Capital on Monday reiterated a "hold" recommendation on Almarai ...
Weak oil may depress Gulf; investment deals could support Egypt DUBAI: Oil's fresh slide may pressure Gulf stock markets on Sunday, while Egypt may rise after Gulf Arab allies pledged a further $12 billion of investments and central bank deposits for Cairo at an international summit. Global oil prices tumbled on Friday and fell 9 percent on the week, hit by a renewed rally in the dollar and a warning by the International Energy Agency that the oil glut is growing.Brent crude settled near a ...
Gulf markets fall after oil tumbles DUBAI: Gulf stock markets fell in early trade on Sunday after oil prices tumbled again, while Dubai-listed Egyptian firm Orascom Construction rebounded.Brent crude settled near a one-month low below $55 a barrel on Friday and fell 9 percent on the week, hit by a renewed rally in the dollar and a warning by the International Energy Agency that the oil glut is still growing. Dubai's index fell 1.0 percent as most stocks declined. Bahraini investment ...
Kenyan shares slip again on profit taking, shilling flat NAIROBI: Kenya's main share index fell for an eighth consecutive session on Thursday, with loss-making Mumias Sugar dragging stocks lower as investors were put off by its planned cash call.The shilling closed unchanged.Kenya's stock market has lost ground in every trading session since March 2, when the benchmark NSE20 Index hit a seven year high, and fell again on the day despite the bourse's biggest stock by market capitalisation, Safaricom, scaling an all-time high.Aly Khan ...
Housing hopes boost Saudi; Egypt rises before investment summit DUBAI: Stronger oil and hopes that the government will speed up its housing programme lifted Saudi Arabia's stock market to a four-month high on Thursday, while Egypt rebounded ahead of a long-awaited conference to attract investment. Most Gulf markets were soft. The main Saudi index edged up 0.3 percent to 9,691 points, rising above major technical resistance on its 200-day average of 9,662 points. Another close above that level would confirm a break, suggesting the ...
South African stocks fall to one-month lows as investors flee JOHANNESBURG: South African stocks sank to a one-month low on Wednesday on the back of a wilting local currency and as investors focus on the likelihood of higher interest rates in the United States.Johannesburg's Top-40 index was down 0.7 percent to 45,826 and the All-share shed 0.6 percent to 51,753, the lowest since early February.The local rand currency is trading near 13-year lows against the dollar on the increasing view the Federal Reserve may raise ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln