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Dubai makes biggest gain in August DUBAI: Dubai's bourse on Sunday posted its largest one-day gain in August as small-caps surged on buying by retail investors, while Egypt rose for a fourth straight session after curfew hours were reduced.The Dubai index jumped 1.8 percent to a new 57-month high of 2,748 points as the market traded 1.29 billion shares, the highest volume since June 2009.Four small-caps hit their daily upward limits of 15 percent: Union Properties, Deyaar Development, Gulf Navigation and National Cement."These stocks are being driven by retail traders - some of these names should be rerated upwards because of a massive discount but at the same time, you can't compare them to blue-chip names in the real estate sector," said Ali Adou, portfolio manager at The National Investor.Union Properties rose for its sixth consecutive rise. Emirates NBD, which cut its stake in the developer from around 48 percent to about 31.4 percent in the ...

Egypt stocks slide 2.5pc on political bloodshed DUBAI: Egypt's stock market fell sharply on Sunday as it resumed trading after hundreds of people were killed in a crackdown by the army-backed government on supporters of the Muslim Brotherhood.Cairo's main equities index was down 2.5 percent in the opening minutes to 5,410 points. It fell 1.7 percent last Wednesday, before the market was shut on Thursday because of the violence. Sunday's trading day will be shortened to three hours from four to give ...
South African stocks end flat JOHANNESBURG: South African stocks ended little changed on Wednesday, as a surge in insurer Old Mutual helped balance out a sharp drop by AngloGold Ashanti , which fell to a 12-year low on a quarterly loss.Other gold miners were also hit, as the bullion price remained under pressure and near a three-week low. Bullion has lost around 25 percent of its value this year, squeezing Johannesburg's gold producers."If you look at a lot of the ...
Zimbabwe stocks plunge 11pc after Mugabe election HARARE: The Zimbabwe Stock Exchange's top index fell 11 percent on Monday, the first day of trading after the results of disputed elections which enabled Robert Mugabe to extend his 33-year rule.Several foreign-owned stocks registered steep losses, with South Africa-based clothing chain Edgars and hotel group African Sun losing more than 25 percent.Amid fears foreign banks could become the next target for Mugabe's indigenisation efforts, Barclays local listing had fallen by 15 percent on Friday, ...
Zimbabwe stock market plunges after Mugabe victory HARARE: Zimbabwe's main stock market index fell 11 percent on Monday in its first trading day since official results confirmed President Robert Mugabe would extend his 33 years in power after trouncing Prime Minister Morgan Tsvangirai, who is contesting the outcome.The industrial index fell to 205.57 points in the mid-morning session, with all the top-ten shares save for the local unit of insurance giant Old Mutual trading in the red.The bourse's biggest company, Delta Corporation, ...
Murray & Roberts offers $407mn for Clough JOHANNESBURG: South African construction firm Murray & Roberts said on Tuesday it plans to buy all the shares it does not already own in Australia's Clough Ltd for A$449 million ($407 million) in cash.Murray & Roberts, which owns 61.6 percent of Clough, said it was offering A$1.46 a share, a premium of 30.9 percent over Clough's closing price on Tuesday.Copyright Reuters, 2013 ...
Egypt stocks soar to 3-week high after army ultimatum CAIRO: Egyptian shares surged to a three-week high on Tuesday and the currency strengthened a day after the armed forces gave Islamist President Mohamed Mursi a virtual ultimatum to share power.Local investors believe army intervention in the political crisis could help put an end to 30 months of instability that has frightened away investors and tourists and drained the country's finances.Nationwide protests against Mursi prompted the army to tell feuding politicians they had 48 hours ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln