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Dubai stock up, Saudi down as Gulf reacts to Iran nuclear deal DUBAI: Gulf stock markets reacted very differently on Sunday to Iran's nuclear deal with world powers, as Dubai rose on hopes for new Iranian business while Saudi Arabia fell on fears of lower oil prices. Egypt continued sliding after poor economic data.If confirmed in a final agreement by a June 30 deadline, the nuclear deal - assuming it is received positively by major Gulf Arab governments - could reduce geopolitical tensions in the area, encouraging more foreign portfolio investment throughout the region.But Saudi investors focused instead on the fact that lifting international sanctions on Iran would allow more Iranian oil onto the market, potentially pushing down crude prices and hurting profit margins of the petrochemical producers which are heavily weighted in the Saudi bourse. Brent oil plunged nearly 4.0 percent on Thursday in an initial reaction to the deal.The main Saudi stock index fell 1.7 percent on Sunday with Saudi ...

Saudi Arabia stock falls on oil price worries after Iran nuclear deal DUBAI: Saudi Arabia's stock market fell in early trade on Sunday after Iran's nuclear deal with world powers fuelled concern about a further decline in oil prices, which would hurt margins at Saudi petrochemical firms.If confirmed in a final agreement by a June 30 deadline, the nuclear deal would ease sanctions and allow more Iranian oil onto the market, potentially pushing down crude prices. Brent oil plunged nearly 4.0 percent on Thursday in an initial ...
Saudi firms tighten controls in wake of Mobily scandal RIYADH/DUBAI: When Saudi Cable Co said last month it was delaying the release of its 2014 earnings statement, because it was still compiling information required by an external auditor, it was a sign of growing regulatory pressure on companies in the kingdom.Regulators are signalling they want corporate managements to tighten governance and strengthen internal controls as the $500 billion Saudi stock market prepares to open up to direct foreign investment in the next few months.The ...
South African financial markets closed on April 3, April 6 JOHANNESBURG: South African financial markets are closed for Easter on Friday, April 3 and Monday, April 6. Trading in Johannesburg will resume on Tuesday, April 7.Copyright Reuters, 2015 ...
Saudi stock falls after border guards attacked from Yemen DUBAI: Saudi Arabia's stock index gave up early gains and fell on Thursday after the state-run Saudi Press Agency said one border guard had been killed and ten injured in an attack from Yemen.The incident, in which border guards came under fire from a mountainous area in Yemen, was the first of its kind on Saudi Arabia's soil since the kingdom assembled a military coalition last month to fight Yemen's Houthi rebels.The main Saudi index, ...
Nigerian markets extend rally after Buhari's election victory LAGOS: Nigerian stocks leapt to an 18-week high on Thursday while the 5-year bond yield fell as investors snapped up assets in Africa's biggest economy after a peaceful presidential vote won by the opposition leader.Muhammadu Buhari's election victory marks the first time in Africa's most populous nation where a sitting government has been removed from power through the ballot box.Analysts said investors were hopeful that the scandals that undermined incumbent Goodluck Jonathan's popularity, including billions ...
Volatile oil leaves Gulf mixed; Egyptians rush to buy Edita DUBAI: Most Gulf markets rose alongside oil on Thursday but fresh weakness in the commodity late in the day dampened sentiment in Saudi Arabia. Egyptian investors dumped most stocks in order to buy newly listed food maker Edita .Brent oil rallied late on Wednesday and held near $57 per barrel early on Thursday, but then dropped 3 percent as investors appeared to be taking the view that nuclear talks with Iran would be successful, allowing ...

 



 
Index Closing Chg%
Arrow DJIA 18,232.02 0.29
Arrow Nasdaq 5,089.36 0.03
Arrow S&P 2,126.06 0.22
Arrow FTSE 7,031.72 0.05
Arrow DAX 11,815.01 0.42
Arrow CAC-40 5,142.89 0.07
Arrow Nikkei 20,264.41 0.30
Arrow H.Seng 27,992.83 1.70
Arrow Sensex 27,957.50 0.53





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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln