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Middle East & Africa


Gulf markets give up gains on oil; GB Auto soars in Egypt DUBAI: Gulf stock markets gave up early gains on Monday after oil prices fell by more than $1 a barrel, although positive fourth-quarter corporate earnings supported individual stocks. Brent crude traded below $49 after analysts at Goldman Sachs cut their average forecast for the benchmark in 2015 to $50.40 a barrel from $83.75. Saudi Arabia's stock index slipped 0.1 percent as shares in petrochemicals giant Saudi Basic Industries fell 1.2 percent.However, Saudi Hollandi Bank jumped 3.4 percent after it beat analysts' expectations with a 33 percent rise in fourth-quarter net profit. The lender made 461.9 million riyals ($123.1 million) in the three months to Dec. 31; analysts surveyed by Reuters had forecast it would post, on average, a net profit of 433 million riyals. Dubai's index was nearly flat after rising as much as 1.9 percent early in the session. Real estate developer DAMAC , which had earlier surged 21 ...

Kenyan shares rise while shilling holds steady NAIROBI: Kenyan shares edged up on Friday after a sluggish week marked by thin trading volumes caused by the introduction of a new capital gains tax, while the shilling was almost unchanged against the dollar.The NSE-20 rose 0.5 percent to close at 5,121.76 points. Traders said the market was trying to compensate for very thin volumes earlier in the week, after activity was curbed by the 5 percent tax that came into force this year.Kenya's ...
Egypt bourse suspends GB Auto shares on rights issue news CAIRO: Egypt's stock exchange on Thursday suspended trading in shares of GB Auto, the country's biggest listed vehicle assembler and distributor, until it provides more information to the market about its planned rights issue. GB Autos told Reuters on Tuesday it was working on a share issue to boost its capital by 1 billion Egyptian pounds ($139.86 million). Chief Executive Raouf Ghabbour said he expected the capital increase to take place in April 2015. Ghabbour ...
Gulf markets extend gains as oil firms DUBAI: Gulf stock markets rose in early trade on Thursday after oil rebounded slightly from its Wednesday low and global bourses rose.Supported by a fall in U.S. crude oil inventories, Brent futures traded above $51 per barrel on Thursday after briefly dropping below $50 in the previous session.Dubai's equities index rose 2.4 percent as almost all stocks gained.Shares in bourse operator Dubai Financial Market surged 6.0 percent after economy minister Sultan bin Saeed al-Mansouri said ...
Dubai leads gains as Gulf markets rebound DUBAI: Most Gulf stock markets rebounded on Wednesday after suffering sharp losses earlier in the week because of the renewed slide in oil prices.Brent futures have fallen more than 10 percent this week to their lowest levels since the spring of 2009, and briefly dropped below $50 per barrel on Wednesday.However, some investors have decided that Gulf equities are oversold and have now returned to the markets as buyers, temporarily at least.Saudi Arabia's main index ...
South African stocks rise for second session, Naspers at all-time high JOHANNESBURG: South African stocks rose for a second-straight session on Wednesday, led by blue-chip heavyweight Naspers after its Chinese money-spinner Tencent launched its first private online bank.E-commerce and media firm Naspers, Africa's biggest company by market value, which owns about a third of Tencent, jumped 2.9 percent to 1,650 rand, after earlier hitting its highest since it listed in 1994."Naspers is a quality business and the momentum is behind it at moment," said Ryan Woods, ...
Gulf shares rebound after oil price slide       KUWAIT CITY: Stock markets in the Gulf states edged higher Wednesday, putting an end to days of decline off the back of sliding oil prices and a gloomy global outlook.Barring the small markets in Oman and Bahrain, which dropped slightly, the Gulf bourses posted gains led by exchanges in Dubai and Abu Dhabi.Analysts put the gains down to attractive prices on stocks whose value has plummeted in recent weeks."This was the main reason for the ...


Index Closing Chg%
Arrow DJIA 17,409.00 1.31
Arrow Nasdaq 4,683.41 0.98
Arrow S&P 2,017.30 0.95
Arrow FTSE 6,810.60 0.22
Arrow DAX 10,737.87 0.25
Arrow CAC-40 4,631.43 0.44
Arrow Nikkei 17,606.22 1.06
Arrow H.Seng 24,595.85 1.07
Arrow Sensex 29,681.77 0.41

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln