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Middle East & Africa


Mideast markets pull back as global equities dip, some earnings disappoint DUBAI: Most stock markets in the Middle East fell on Monday after several companies reported poor third-quarter earnings and European equities edged down along with oil prices.The index of top European shares dipped as the Ifo business climate index slipped to its lowest level in nearly two years, while Brent crude dropped towards $85 per barrel after Goldman Sachs slashed its price forecasts, citing abundant supply and lacklustre demand.Dubai's bourse, which rose as much as 0.8 percent early in the session, gave up all its gains when European markets moved into negative territory. The benchmark fell 1.4 percent to 4,625 points, but remained above the 200-day average at 4,599 points, an important technical level.Abu Dhabi was more resilient, adding 0.5 percent largely on the back of First Gulf Bank (FGB), the United Arab Emirates' third-largest lender by assets, which jumped 3.5 percent before a scheduled earnings announcement.After trading closed, the ...

Markets hesitant, wait for European cue DUBAI: Stock markets in the United Arab Emirates and Qatar moved little in early trade on Monday as investors waited for guidance from European bourses, which open later in the day.Dubai's bourse slipped 0.4 percent shortly after opening but then turned around and added 0.8 percent. Shares in developer Emaar Properties rose 1.0 percent and builder Arabtec Holding gained 2.0 percent.Conglomerate Dubai Investments rose 0.9 percent after reporting a 17.4 percent increase in third-quarter profit.Abu ...
Markets may rise further if global backdrop remains supportive DUBAI: Stock markets in the Middle East may continue rising on Monday because of positive third-quarter results and technical factors, although any change of direction in global markets or sharp oil price decline could undermine the rally.Dubai's bourse rose 2.5 percent to 4,689 points on Sunday, closing back above its 200-day average at 4,594 points, a positive technical signal.In Abu Dhabi, Union National Bank may rise after its third-quarter net profit came in ahead of ...
UAE, Qatar stocks edge up DUBAI: Bourses in the United Arab Emirates and Qatar rose in early trade on Sunday on the back of a supportive global background and positive domestic news flow.U.S. stocks were up on Friday after strong results from Microsoft and Procter & Gamble. Brent oil prices slipped but were little changed on the week.Dubai's index rose 1.8 percent to 4,653 points as most stocks gained. Shares in cooling company Tabreed jumped 4.8 percent after it reported ...
Global retreat may undermine region's rebound DUBAI: A fresh decline in U.S. and Asian equities and global oil prices may take the steam out of Middle Eastern stock markets' rally on Thursday, offsetting the positive effect of generally strong earnings reported this week.Asian shares sagged on Thursday after a retreat on Wall Street and falling crude oil rekindled investor anxiety over slowing global growth. Brent crude fell for a second session running, hitting a one-week low just above $84 a barrel ...
Kuwait Investment shares jump on privatisation plan DUBAI: Shares in Kuwait Investment Co surged on Thursday after the KuwaitInvestment Authority (KIA) said it would offer its stake in the firm to the public in the first half of 2015, as it resumes a programme of selling off stakes in local listed companies.Kuwait Investment Co jumped 7.6 percent while Kuwait's main stock index rose 0.2 percent, bucking a bearish trend across the region.The KIA owns 76.2 percent of Kuwait Investment Co, a financial ...
Qatar edges up on Q3 results, UAE bourses mixed DUBAI: Qatar's stock index edged up in early trade on Tuesday after several local companies reported solid third-quarter earnings, while markets in the United Arab Emirates were mixed. The Doha benchmark added 0.6 percent and Islamic lender Masraf Al Rayan, up 1.4 percent, was the main support. The bank reported a 22.6 percent rise in net profit for the third quarter on Monday, broadly in line with forecasts.Oil rig provider Gulf International Services added 1.6 ...


Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
Arrow CAC-40 4,347.23 2.67
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,437.12 0.37
Arrow Sensex 28,334.63 0.95

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln