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Middle East & Africa


Middle East markets edge up as Yemen air strikes end DUBAI: Most major stock markets in the Middle East rose modestly on Wednesday after Saudi Arabia and its allies in the region decided to end a campaign of air strikes against Yemen's Houthi rebels. Riyadh announced late on Tuesday that it was ending a month-long offensive against the Houthis, who seized large areas of Yemen, and said it would back a political solution to bring peace to its war-ravaged neighbour. The Yemen fighting was never a big concern for financial markets, which believed the Gulf states could prevent the conflict from spreading beyond Yemen's borders; bond yields and credit default swaps barely moved in response to the violence. Nevertheless, the fighting did unsettle some retail investors in the Gulf and Egypt, and stock markets across the region fell by several percent in the days after the military campaign began. Saudi Arabia's index inched up 0.1 percent on Wednesday to 9,572 ...

Saudi Arabia slips on Mobily, property stocks lift Dubai DUBAI: Saudi Arabia's stock market pulled back further on Tuesday after telecommunications operator Mobily posted a surprise first-quarter loss, while Kuwait fell on news of potential tax reform. Other Gulf markets were positive. The main Saudi index slipped 0.3 percent to 9,559 points as Mobily was the main drag, tumbling 6.8 percent. The firm, whose scandal over the restatement of its 2014 earnings led to the departure of its chief executive earlier this year, missed ...
Saudi Arabia slips, other Gulf markets rise DUBAI: Saudi Arabia's bourse pulled back slightly on Monday after several companies reported poor first-quarter earnings; other Gulf markets were positive, although disappointing earnings slowed Qatar's advance. The main Saudi index edged down 0.3 percent to 9,589 points, having surged 4.0 percent in the previous session on news that the market regulator would allow foreigners to buy local stocks directly from June 15.Petrochemicals and titanium producer National Industrialization Co (Tasnee) tumbled 5.4 percent after the ...
Saudi Arabia surges ahead of market opening to foreigners DUBAI: Saudi Arabia's bourse surged on Sunday after the kingdom's securities regulator said it would open the market to direct foreign investment from June 15, while many other markets in the Middle East were weak.The main Saudi index rose 4.0 percent, its biggest gain this year, to 9,620 points on its highest volume in 11 months. It broke minor technical resistance at the late March high of 9,377 points and stood above the 200-day average, ...
South African stocks rise, Brait up on Virgin Active bid JOHANNESBURG: South African stocks rose on Thursday with investment firm Brait leading the blue-chip index higher after investors cheered its bid for a stake in fitness chain Virgin Active.Brait's shares advanced by 4.3 percent to 90.45 rand on its offer to buy a controlling stake in the fitness chain jointly owned by the entrepreneur Richard Branson and CVC Capital Partners, with gyms across nine countries.Nic Norman-Smith, a fund manager at Lentus Asset Management, said although ...
Saudi bourse to open to foreign traders for first time RIYADH: The Saudi stock market will open on June 15 to direct trading by foreign companies for the first time, in a move likely to attract billions of dollars, regulators said Thursday.Until now, only companies registered in Saudi Arabia or another of the six Gulf Cooperation Council nations have been allowed to buy and sell shares directly on the Saudi market, the Arab world's largest.However, foreigners were allowed to trade indirectly through Saudi and GCC-based ...
South Africa's rand dips as power crisis, attacks on foreigners persist JOHANNESBURG: South Africa's rand weakened on Wednesday as power supplier Eskom implemented widespread electricity cuts for the fourth straight day, while attacks against foreign nationals also weighed on sentiment. By 1500 GMT the rand has slipped 1.42 percent to 12.1870 per dollar, near its softest level in two weeks. Against the euro, the local unit slipped more than one percent to a one week-low of 12.9543. The currency was equally weak against the British pound, ...


Index Closing Chg%
Arrow DJIA 17,730.11 0.16
Arrow Nasdaq 5,009.22 0.08
Arrow S&P 2,076.78 0.03
Arrow FTSE 6,585.78 0.67
Arrow DAX 11,058.39 0.37
Arrow CAC-40 4,808.22 0.57
Arrow Nikkei 20,539.79 0.08
Arrow H.Seng 26,064.11 0.83
Arrow Sensex 28,092.79 0.53

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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 $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln