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Middle East & Africa


Kenyan shares rise in busy trade, shilling slides again NAIROBI: Kenya's benchmark share index climbed 1.1 percent on Wednesday in one of the busiest sessions since the government reimposed a capital gains tax on Jan. 1, while the shilling slipped again to a new three-year low.The implementation of the tax had pushed many investors to the sidelines of the equity market, but analysts said foreigners and locals were now resigned to the return of a levy that had been scrapped in the 1980s."The environment is still very favourable for the equity market, given the low inflation, low interest rates," said Virginia Wairimu, research analyst at Suntra Investment Bank, adding the tax had depressed trading for the year so far.Inflation has been falling towards an official target of 5 percent and the central bank held interest rates at 8.50 percent on Wednesday, staying at its lowest levels since 2011, while lowering a reference rate for banks to price loans.The benchmark ...

Gulf markets slow advance; Egypt keeps rising DUBAI: Gulf stock markets were neutral to slightly positive on Wednesday, although negative news and earnings reports dragged down some individual stocks. Egypt's bourse posted strong gains for a third day in a row. Saudi Arabia's index added 0.3 percent, partly because of a rebound in beaten-down petrochemicals. Shares in Yanbu National Petrochemical Co (Yansab) jumped 2.1 percent after it reported a 39.7 percent rise in fourth-quarter net profit. Yansab, a unit of Saudi Basic ...
Gulf markets edge up as oil link weakens; Egypt surges DUBAI: Gulf stock markets were volatile on Tuesday as oil prices hit new lows, but most bourses eventually edged up on the back of positive corporate announcements and expectations, continuing a trend towards partially decoupling from oil.Brent crude fell to its lowest level in almost six years and traded below $46 per barrel on Tuesday as the United Arab Emirates defended OPEC's decision not to cut output to tackle a glut in the market.Most Gulf ...
South African shares advance, led by gold producers JOHANNESBURG: South African shares rose more than 2 percent on Tuesday amid expectations that European Union policy makers will intervene to keep the euro zone from slipping into deflation, a move that should help to ease risk aversion.Bullion producers AngloGold Ashanti and Sibanye Gold led the gains as gold reached a 12-week high and investors sought refuge from volatile stocks and depressed oil prices. AngloGold closed 4.45 percent higher at 124.70 rand and Sibanye rose ...
Petrochemicals drag down Saudi market as oil slides DUBAI: Petrochemical shares dragged down Saudi Arabia's stock market on Tuesday as oil prices continued to slide, prompting profit-taking across a wide range of sectors in the Gulf.The Saudi stock index sank 1.8 percent as Brent crude oil plunged below $46 a barrel in Asian trading hours to its lowest level in nearly six years.The Saudi petrochemical sector, which faces direct damage to its earnings from low oil prices, dropped 2.3 percent. But other sectors ...
Egypt stock rallies on; GB Auto soars again DUBAI: Egypt's stock market extended gains in a broad rally on Tuesday after positive news from local companies.The Cairo index rose 1.6 percent as most stocks were in the black. GB Auto, the country's biggest listed vehicle assembler and distributor, led gains as it surged its daily 10 percent limit for the second day in a row.The firm's chief executive told Reuters last week that it was working on a rights issue and planned to ...
Gulf markets edge down as oil drops; Saudi banks strong DUBAI: Gulf stock markets ran out of steam on Monday after several strong sessions as oil prices fell by more than $1 a barrel, although positive fourth-quarter corporate earnings supported individual stocks.Brent crude traded below $49 after analysts at Goldman Sachs cut their average forecast for the benchmark in 2015 to $50.40 a barrel from $83.75.Saudi Arabia's stock index slipped 0.1 percent as shares in petrochemicals giant Saudi Basic Industries fell 1.9 percent; petrochemical industry ...


Index Closing Chg%
Arrow DJIA 17,191.37 1.13
Arrow Nasdaq 4,638.00 0.93
Arrow S&P 2,002.16 1.35
Arrow FTSE 6,825.94 0.21
Arrow DAX 10,710.97 0.78
Arrow CAC-40 4,610.94 0.29
Arrow Nikkei 17,795.73 0.15
Arrow H.Seng 24,861.81 0.22
Arrow Sensex 29,559.18 0.04

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln