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Middle East & Africa


South Africa's rand dips as power crisis, attacks on foreigners persist JOHANNESBURG: South Africa's rand weakened on Wednesday as power supplier Eskom implemented widespread electricity cuts for the fourth straight day, while attacks against foreign nationals also weighed on sentiment. By 1500 GMT the rand has slipped 1.42 percent to 12.1870 per dollar, near its softest level in two weeks. Against the euro, the local unit slipped more than one percent to a one week-low of 12.9543. The currency was equally weak against the British pound, shedding nearly 1-1/2 percent to 17.9890 per sterling. "The rand's been knocked off the ground today," said Ion de Vleeschauwer, a currency dealer at Bidvest Bank. "Load-shedding is becoming a bit of a problem." South Africa lost a quarter of its power supply on Tuesday in one of its worst outages in years. Power supply was also unstable on Wednesday, and Eskom said it would reduce power supply, citing a shortage of generation capacity. Traders ...

Dubai stocks jump after strong Q1 earnings DUBAI: Dubai's bourse posted its biggest daily gain in 10 weeks on Wednesday after strong first-quarter earnings from Dubai Islamic Bank and real estate developer Deyaar.The Dubai index jumped 3.0 percent on its heaviest trading volume this year, hitting a two-month closing high of 3,942 points.Dubai Islamic Bank (DIB) was the main support, surging 5.3 percent to 6.75 dirhams in active trade. DIB's net profit attributable to shareholders rose 33.9 percent year-on-year to 816.7 million ...
South Africa's stocks slip, Naspers gives back gains JOHANNESBURG: South African stocks snapped a five-day winning streak on Tuesday, dragged down by e-commerce firm Naspers, which slid after the head of its Chinese money-spinner Tencent sold a large stake in the firm. Naspers, the most expensive African company, fell 5.6 percent, after scaling record levels on Monday and tracking Tencent's decline in China. Tencent slumped after the chief executive reduced his holdings in China's biggest social networking and online entertainment firm. But analysts ...
South African stocks rise for fifth session, Naspers at new peak JOHANNESBURG: South African stocks rose for the fifth straight session on Monday, lifted by Naspers Ltd whose shares surged to a record high as well as a jump in Sasol's shares after the global oil price recovered.Naspers, Africa's largest company by market value, jumped 1.8 percent to 1,980 rand after hitting an all time high of 2,029 rand. Shares in the media and e-commerce firm have gained about 90 percent over the last 12 months.Naspers ...
Saudi Arabia stock edges up as oil rallies DUBAI: Saudi Arabia's stock market rose moderately in early trade on Monday, supported by positive corporate news and firmer oil.The benchmark climbed 0.5 percent as most stocks rose, offsetting negative influence from heavyweight Saudi Basic Industries, which dropped 2.7 percent as it went ex-dividend.Petrochemical firm PetroRabigh surged 4.8 percent after announcing it would ask shareholders to approve raising its capital via a rights issue worth about 7.04 billion riyals ($1.88 billion).The company has yet to ...
Most Gulf markets narrowly mixed but Dubai rises DUBAI: Most Gulf stock markets were narrowly mixed on Sunday, influenced by a mixed set of earnings and corporate news, though Dubai rose on the back of real estate-related stocks. Brent crude oil rose 2.3 percent on Friday and posted a 5.3 percent weekly gain on lowered expectations that an agreement on Iran's nuclear programme would result in a rapid return of more Iranian oil to the market.Meanwhile, world equity markets tested record highs on ...
Oil, earnings lift Saudi Arabia stocks DUBAI: Saudi Arabia's bourse rose broadly in early trade on Sunday on the back of stronger oil and positive earnings reports and expectations.The kingdom's main stock index climbed 0.9 percent and petrochemicals giant Saudi Basic Industries was the main support, jumping 2.9 percent.Brent crude rose 2.3 percent on Friday and posted a 5.3 percent weekly gain on lowered expectations that an agreement on Iran's nuclear programme would result in a rapid return of more Iranian ...


Index Closing Chg%
Arrow DJIA 18,162.99 0.67
Arrow Nasdaq 5,106.59 1.47
Arrow S&P 2,123.48 0.92
Arrow FTSE 7,033.33 1.21
Arrow DAX 11,771.13 1.26
Arrow CAC-40 5,182.53 1.95
Arrow Nikkei 20,472.58 0.17
Arrow H.Seng 28,081.21 0.60
Arrow Sensex 27,564.66 0.12

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 26, 2015
Reserves $17.749 bln