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Middle East & Africa


Gulf markets slip as oil extends losses DUBAI: Gulf stock markets slipped in early trade on Tuesday after oil prices slid again on concern about global oversupply.Crude prices fell towards four-month lows, dropping for a fifth straight session. Brent futures traded just above $53 per barrel.Dubai's bourse edged down 0.6 percent with most stocks in the red. Builder Arabtec fell 1.3 percent and was the most traded stock.Bourse operator Dubai Financial Market fell 1.5 percent, having posted a 48 percent fall in second-quarter net profit on Monday as bourse turnover slumped.Abu Dhabi inched down 0.1 percent and energy firm Dana Gas fell 1.8 percent.Qatar's index slipped 0.06 percent but Qatar Navigation rose 1.6 percent after it posted a 25.7 percent rise in first-half net profit, which according to Reuters calculations indicated a 69 percent increase in second-quarter earnings.Bourses in Oman and Kuwait slipped 0.3 percent each.Copyright Reuters, 2015 ...

South African stocks fall on risk-off trade as Chinese shares dive JOHANNESBURG: South African stocks fell on Monday after Chinese shares tumbled more than 8 percent, their biggest one-day drop since 2007, sending broader emerging market assets down in risk-off trade. While the market has been fixated on a near-term rise of US interest rates, traders said Monday's sell-off was on the back of China's volatile stock market, rekindling concerns over the economic health of the Asian behemoth. "A move of this nature again is a ...
South Africa's rand wobbly ahead of trade data JOHANNESBURG: South Africa's rand struggled against the dollar on Monday, with traders and analysts seeing scope for further weakness if local trade data comes out softer than expected and the Federal Reserve issues a hawkish statement later this week.The rand touched a fresh 14-year low of 12.6900 to the dollar, extending Friday's sharp losses, and traded at 12.6235 at 1604 GMT, slightly weaker than its previous close at 12.6165.Government bonds also ended the session weaker, ...
SABIC results may lift Saudi, but global background negative DUBAI: Saudi Basic Industries Corp (SABIC), the biggest listed company in the Gulf, may rise on Sunday after its second-quarter beat analyst estimates by a wide margin, but weak oil and depressed global equities may weigh on other stocks.SABIC posted a profit of 6.17 billion riyals ($1.64 billion) for the quarter on Sunday, down from 6.46 billion riyals ago but well ahead of the average estimate of seven analysts surveyed by Reuters who had expected ...
Saudi slips despite SABIC, Egypt edges up DUBAI: Saudi Arabia's stock market edged down in early trade on Sunday despite a strong performance by heavyweight Saudi Basic Industries (SABIC). Egypt's bourse rose on the back of property stocks.SABIC jumped 2.0 percent after posting a profit of 6.17 billion riyals ($1.64 billion) for the quarter, down from 6.46 billion riyals a year ago but well ahead of the average estimate of seven analysts surveyed by Reuters, 4.96 billion riyals.But the main Saudi stock ...
South Africa index falls 2pc as mining stocks tumble JOHANNESBURG: South African stocks fell two percent on Wednesday weighed down by a slump in mining shares such as AngloGold Ashanti after the price of gold slipped to a five-year low. As of 1334 GMT, both the benchmark Top-40 index and the All-Share index were down more than 2 percent.Copyright Reuters, 2015 ...
South African stocks down, Mediclinic sheds nearly 2pc JOHANNESBURG: South African stocks ended lower on Tuesday with Mediclinic International leading the decline, while gold stocks recovered from their previous day's heavy losses as the price of gold steadied. South Africa's largest private hospital group Mediclinic was the worst performer among the bourse's blue chips, falling 1.96 percent to end at 106.45 rand after announcing the dates on which it will issue 111.1 million new shares. Mediclinic said last month will use the proceeds ...


Index Closing Chg%
Arrow DJIA 17,050.75 0.82
Arrow Nasdaq 4,810.79 0.41
Arrow S&P 2,013.43 0.88
Arrow FTSE 6,374.82 0.61
Arrow DAX 9,993.07 0.23
Arrow CAC-40 4,675.91 0.18
Arrow Nikkei 18,141.17 0.99
Arrow H.Seng 22,354.91 0.71
Arrow Sensex 26,845.81 0.70

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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