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Most Gulf mkts fall; blue chips lift Saudi DUBAI: Most Middle East bourses slipped in early trade on Wednesday as oil market turbulence kept equity investors cautious, although blue chips lifted Saudi Arabia's index. Brent hit a high of $71.46 a barrel on Wednesday before giving up some gains and moving close to $71. Saudi Arabia's index rose 0.2 percent. Petrochemicals giant Saudi Basic Industries (SABIC) and Al Rajhi Bank were the main supports, climbing 1.2 and 1.0 percent respectively. SABIC, now at 90.50 riyals, hit a two-year low of 89.00 riyals on Sunday and has since been recovering slowly. EFG Hermes in a report last month maintained a "buy" recommendation on the stock but cut its fair falue estimate to 125.00 riyals from 145.00 riyals. Telecoms were the main drag on the index as Etihad Etisalat (Mobily) tumbled 7.7 pct and dominated trading volumes.Rival Zain Saudi dropped 5.2 pct to a record low of 7.00 riyals. Both ...

Petrochemical stocks lift Saudi; markets mixed DUBAI: Petrochemicals stocks led gains on Saudi Arabia's bourse on Tuesday after an overnight rebound in oil prices encouraged the kingdom's investors to buy back beaten-down stocks, while other Middle East markets were mixed.Saudi Basic Industries (SABIC), the Gulf's largest listed company and one of the world's biggest petrochemicals producers, rose 0.9 percent.Two SABIC units, Saudi Arabia Fertilizers Co (Safco) and Yanbu National Petrochemical Co (Yansab), climbed 0.5 and 5.8 percent respectively.These gains helped the ...
Saudi petrochemicals stocks lead Riyadh rebound DUBAI: Petrochemicals stocks led gains on Saudi Arabia's bourse as an overnight rebound in oil prices spurred the kingdom's investors to buy back beaten-down stocks.Saudi Basic Industries (SABIC), the Gulf's largest listed company and one of the biggest petrochemicals producers in the world, rose 2.9 percent in early trade.Two SABIC units, Saudi Arabia Fertilizers Co and Yanbu National Petrochemical Co (Yansab), climbed 2.1 and 5.3 percent respectively.These gains helped the petrochemicals index rise 2.7 percent ...
Oil bounce revives Gulf but not Russia or Nigeria LONDON: An oil price bounce helped Gulf stock markets higher on Tuesday, although Russian and Nigerian currencies remained under pressure on persistent doubts over their central banks' ability to provide support.With Brent crude trading at about $72, breaking a five-day losing streak, the rouble staged a brief rally but headed lower again, losing 1.4 percent against the dollar .Unease is growing about the Russian central bank's absence from currency markets despite heavy rouble losses, amounting ...
Gulf markets stabilise after panic sell-off DUBAI: Gulf stock markets steadied and some rebounded on Monday after tumbling a day earlier in response to a plunge in oil prices.Brent crude fell nearly $2 a barrel to a five-year low below $68 in early trade on Monday but then pared some losses and climbed towards $70. That appeared to soothe Gulf investors' nerves and inspire some late buying.Saudi Arabia's index rose 1.1 percent as most market sectors rebounded, while petrochemicals were almost ...
Gulf markets choppy; Zain Saudi plunges DUBAI: Most Gulf stock markets declined further on Monday, albeit at a much slower pace than a day earlier, as investors responded to attempted rebounds with renewed selling.Oil fell nearly $2 a barrel in Asian trade on Monday and both U.S. crude and Brent have fallen for five straight months. Brent, which was trading at $68.36 a barrel, has fallen about 40 percent from June's 2014 high.Dubai's benchmark was down 2.3 percent at 4,182 points ...
Oil's plunge triggers panic selling in Gulf DUBAI: Gulf stock markets plunged on Sunday after OPEC's decision to keep crude output unchanged sent oil prices tumbling at the end of last week.Saudi Arabia's index dropped 5.3 percent to an eleven-month low minutes after opening. Shares in petrochemicals giant Saudi Basic Industries (SABIC) were down 7.1 percent.Dubai's benchmark dropped 6.3 percent to a five-month low, with all traded stocks in decline.Qatar's index was down 4.4 percent, slumping to its lowest level since early ...

 



 
Index Closing Chg%
Arrow DJIA 17,356.87 1.69
Arrow Nasdaq 4,644.31 2.12
Arrow S&P 2,012.89 2.04
Arrow FTSE 6,336.48 0.07
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Arrow Sensex 26,710.13 0.27






ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 15, 2014
Reserves $13.922 bln