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Middle East & Africa


Dubai hits 32-mth high; most regional mkts up DUBAI: Dubai's bourse rose to a 32-month closing high in heavy trade on Sunday as it tested, but failed to break, long-term technical resistance. Most regional markets also gained.   The Dubai index, buoyed by a budding recovery in the real estate market and the belief that the emirate has largely put its 2009-2010 corporate debt crisis behind it, climbed as high as 1,803 points before it finished up 1.0 percent at 1,792 points, its highest close since April 2010.   The index was testing major chart resistance between 1,778 points, the 2012 high hit in March last year, and the October 2010 peak of 1,793 points.   Any clean break - a close above that area for at least two successive sessions -- would trigger a major double bottom formed by the 2012 and early 2011 lows, with a technical target above 2,200 points in coming months.   "The market has the potential to break the 1,800 ...

Kuwait China investment quota boosted to $1bln: KUNA KUWAIT: China's foreign exchange regulator has increased the amount which Kuwait's sovereign wealth fund can invest directly in the Chinese securities markets to $1 billion, state news agency KUNA reported on Sunday.   The regulator awarded Kuwait an additional $700 million quota on top of $300 million awarded in March last year, KUNA said. Kuwait said last year that it was seeking a maximum quota of $1 billion.   The quota allows the fund to buy yuan-denominated stocks and ...
South Africa stocks up but mining shares slide cap gains JOHANNESBURG: South African stocks rose for the first time in five sessions on Thursday, although gains were capped by a fall in mining shares such as Anglo American Platinum and retailers like Mr Price.   Shares of Mr Price, a clothing retailer, fell 3.3 percent to 121.25 rand after it said quarterly sales grew by 10 percent, disappointing investors who may have been expecting a bigger rise.   "What we are still seeing at the moment is sentiment around ...
Saudi Mobily to increase capital by 10pc through bonus shares JEDDAH: Saudi Arabia's Etihad Etisalat (Mobily) said on Saturday it has approved a board recommendation for a 10 percent increase in capital through a bonus share issue.   The firm said in a statement posted on the bourse's website that a general assembly meeting approved a recommendation of the board to increase the company's capital to 7.7 billion riyals from 7 billion riyals through a bonus share for every 10 owned by registered shareholders.   "The total number of ...
Safco Q4 net profit drops 10pc JEDDAH: Saudi Arabian Fertilizers Co (SAFCO) posted a 10.3 percent decline in fourth-quarter net profits, missing analyst forecasts, due to lower Urea prices, the firm said in a bourse statement on Saturday.   Safco, the affiliate of the world's biggest petrochemical company by market value, Saudi Basic Industries (SABIC) , made 1.146 billion riyals in the three months ending on Dec. 31 compared with 1.277 billion riyals in the same period a year earlier, it said.   Nine analysts ...
Kenyan shares rally to a 23-month high, shilling steady NAIROBI: Benchmark Kenyan shares rallied for the eighth straight session on Friday to a 23-month high as investors bet on a better economic outlook after policymakers cut interest rates, while the shilling ended steady against the dollar.   The central bank cut its key lending rate by 150 basis points to 9.50 percent, larger than the 100 basis point reduction markets were anticipating, to boost lending.   "Lower interest rates will mean more money in investors hand and this ...
Johannesburg Stock Exchange punches to new high  JOHANNESBURG: The Johannesburg Stock Exchange's All Share Index hit a record high at the close Thursday, buoyed by a deal to avoid fiscal tightening in the United States.   Africa's leading index ended the day up nearly half a percent at 40,245 points.   President Barack Obama on Thursday signed into law a deal that avoids the world's largest economy being squeezed simultaneously by a sharp cut in government spending and higher taxes on consumers.   On Wednesday the JSE had ...


Index Closing Chg%
Arrow DJIA 16,262.56 0.55
Arrow Nasdaq 4,034.16 0.29
Arrow S&P 1,842.98 0.68
Arrow FTSE 6,541.61 0.64
Arrow DAX 9,173.71 1.77
Arrow CAC-40 4,345.35 0.83
Arrow Nikkei 13,996.81 0.62
Arrow H.Seng 22,671.26 1.60
Arrow Sensex 22,484.93 0.64

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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln