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Middle East & Africa


Gulf markets end well off lows after panic over Yemen DUBAI: Most Middle East stock markets fell on Thursday after Saudi Arabia and its allies in the region launched air strikes against Yemen's Houthi militia, but they came well off their lows late in the day as the initial panic subsided.Saudi Arabia's bourse, which is by far the region's biggest market and closes later than others in the Gulf, finished higher.Warplanes attacked the Yemeni capital Sanaa's airport and its al Dulaimi military airbase on Thursday after the Houthi militia and its army allies advanced towards the city of Aden a day earlier.Yemen's slide toward civil war has made the country a front in Saudi Arabia's rivalry with Shi'ite Iran, which Riyadh accuses of stirring up sectarian strife throughout the region and in Yemen with its support for the Houthis.The crisis now risks spiraling into a proxy war, and the prospect triggered a wave of selling by volatile retail investors on ...

Gulf shares slide after Saudi strikes on Yemen KUWAIT CITY: Stock markets in the Gulf states dived on Thursday on fears from Saudi Arabia's air strikes on Huthi Shiite rebels in neighbouring Yemen, analysts said.The Saudi market, the largest in the region, and the Dubai Financial Market led the slide, amid a massive sell-off over fears of a possible confrontation between Saudi Arabia and Iran.The Saudi Tadawul All-Shares Index lost 4.0 percent at the start of trading, diving below the 8,500-point mark. But ...
Gulf stocks sink on Yemen conflict; Russia benefits LONDON: Stock markets across the Middle East fell heavily on Thursday after Gulf states launched military strikes on Yemen, with Saudi stocks extending losses, but Russia benefited from a $3 gain in the oil price.Saudi stocks, which lost 5 percent on Wednesday, fell another 4 percent on opening but clawed back most of the loss to stand 1 percent lower. Dubai tumbled 3 percent and other Gulf markets including Qatar and Kuwait also lost ground ...
South African stocks end lower, Nampak slips on write-down JOHANNESBURG: South African stocks fell more than 1 percent on Wednesday, with packaging firm Nampak sliding after saying it would write-down the value of its flexibles division before selling it while cancelling the sale of another unit.Shares in Nampak, Africa's biggest packaging company, which plans to sell non-core assets, fell 3.3 percent to 40.50 rand."It will effect earnings in the short term because they had to write down the value of the asset before selling ...
Saudi Arabia stock tumbles as Arab states consider Yemen intervention DUBAI: Saudi Arabia's stock market tumbled in a broad sell-off on Wednesday as investors grew concerned about upcoming first-quarter earnings announcements, stretched valuations and the escalation of military conflict in neighbouring Yemen.Other Gulf bourses were also weak, even as oil prices climbed about 1 percent on the back of a weaker U.S. dollar, indicating that concern over Yemen may be shared across the region.The main Saudi index sank 5.0 percent, its biggest daily drop in ...
Kenya stocks snap three-day losing streak, shilling steady NAIROBI: Kenya's main share index broke a three-day losing streak to close higher on Wednesday, while the shilling was steady.Oil marketer KenolKobil was among the gainers on the bourse after reporting that its 2014 pretax profit more than doubled to 1.52 billion shillings ($17 million).The fuel retailer's share price ended the session 7.5 percent higher at 10.05 shillings, after surging 9 percent to near a three-week high of 10.20 shillings earlier."For Kenol, they announced the ...
Saudi Arabia stock drops, Egypt pulls back DUBAI: Saudi Arabia's stock market pulled back broadly in early trade on Wednesday as investors eyed upcoming first-quarter earnings announements, while Egypt's market also fell.The main Saudi index dropped 2.6 percent with most stocks in the red. Saudi Arabian Mining Co (Ma'aden) tumbled 8.5 percent and was one of the main drags.The firm said on Tuesday that one of its facilities, in which Saudi Basic Industries also has a stake, had been forced to shut ...


Index Closing Chg%
Arrow DJIA 18,034.93 1.17
Arrow Nasdaq 4,994.60 1.27
Arrow S&P 2,100.40 0.92
Arrow FTSE 7,052.13 0.82
Arrow DAX 11,891.59 1.74
Arrow CAC-40 5,187.59 0.86
Arrow Nikkei 19,634.49 0.09
Arrow H.Seng 27,094.93 2.02
Arrow Sensex 27,886.21 1.95

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln