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Middle East & Africa


South African stocks snap three-day losing streak, BAT in demand JOHANNESBURG: South African stocks rose on Wednesday, with the main indexes break a three-day losing streak, and British American Tobacco (BAT) was among the top gainers after a broker upgrade.BAT, the world's No. 2 cigarette maker, jumped 3.7 percent to 6,383.50 rand, making the biggest advance on the blue-chip Top-40 index, after Goldman Sachs upgraded its rating to 'neutral' from 'sell'.Overall, traders refrained from making large bets ahead of the U.S. Federal Reserve statement that could provide hints on the timing of a rate hike - something that has put pressure on the local equity market since April."It is highly unlikely that the Fed will give clear guidance on when they are likely to start hiking rates, leaving the markets to interpret the nuances of the statement and forecasts," RMB Global Markets said in a note.Other gainers were brewer SABMiller, up 2.43 percent to 652.45 rand, and petrochemical giant Sasol, ...

Gulf markets to consolidate before Ramadan DUBAI: Middle East stock markets look set to consolidate with a negative bias on Wednesday as investors in the region prepare for the Muslim holy month of Ramadan, which begins on Thursday and usually brings a period of very low trading activity. Trading volumes in most markets have already been declining in the last few days and some bourses, such as Egypt's stock exchange, are reducing trading hours during Ramadan. The Cairo market will close ...
Gulf markets slip in line with oil; Egypt up after China deal DUBAI: Most stock markets in the Gulf fell on Tuesday after a rebound in the Brent oil price proved short-lived and foreign fund inflows into Saudi Arabia remained tiny following the market's opening to international institutions this week. The main Saudi index slipped 0.2 percent as heavyweights Saudi Basic Industries and National Commercial Bank lost 0.4 and 0.8 percent respectively. Most other components of the provisional MSCI Saudi Arabia index also fell, having rallied in ...
Oil's turnaround may support Gulf markets DUBAI: Stronger oil prices may buoy Gulf stock markets on Tuesday, but retail investors' disappointment with the slow pace of foreign fund inflows in Saudi Arabia and the approach of the Muslim holy month of Ramadan could cap any gains.Brent crude has edged up 0.5 percent and US light has risen 1.0 percent in Asian trade on Tuesday, boosted by warnings that a tropical storm was about to hit the coast of oil producing state ...
Saudi Arabia edges up ahead of opening to foreigners, Egypt slips DUBAI: Saudi Arabia's bourse edged up in early trade on Sunday ahead of its opening to direct foreign investment, while Egypt slipped.The main Saudi stock index climbed 0.3 percent, buoyed by some of the blue chips which are most likely to be targeted by foreign investors.Foodmaker Savola Group rose 0.8 percent, petrochemicals giant Saudi Basic Industries added 0.6 percent and miner Ma'aden was up 1.1 percent.Qualified foreign investors with licences from the kingdom's Capital Market ...
Gulf markets mixed; Dubai's Amlak extends losses DUBAI: Gulf stock markets were narrowly mixed in early trade on Sunday after oil prices fell on Friday, giving up most of the gains made earlier in the week.Dubai's stock index edged up 0.6 percent with most stocks positive but Amlak Finance, which was the most traded stock in the emirate, tumbled its daily 10 percent limit for the second session in a row.Shares in the mortgage lender had more than doubled in price earlier ...
South African stocks mixed, Aveng weighs on market JOHANNESBURG: South Africa's main stock indices ended Thursday on a flat footing as Aveng pulled the market down, preventing a second straight day of gains. The benchmark JSE Top-40 index ended the day down 0.22 percent to 46,149.59 and the broader All-share slipped 0.15 percent to 51,881.45. Aveng lost 16.11 percent to 7.55 rand after it flagged a 50 percent drop in full-year profit, citing labour disruptions and an industry-wide slump at home. A report ...


Index Closing Chg%
Arrow DJIA 16,102.38 1.66
Arrow Nasdaq 4,683.92 1.05
Arrow S&P 1,921.22 1.53
Arrow FTSE 6,042.92 2.44
Arrow DAX 10,038.04 2.71
Arrow CAC-40 4,523.08 2.81
Arrow Nikkei 17,792.16 2.15
Arrow H.Seng 20,840.61 0.45
Arrow Sensex 25,201.90 2.18

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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 $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln