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Middle East & Africa


Gulf up on Saudi reassurance, M&A talk; Egypt slides DUBAI: Most Gulf bourses edged up on Monday on mostly positive domestic news, shrugging off weaker oil prices, while Egypt fell after a string of announcements that dampened investor sentiment.The main Saudi stock index rose 0.7 percent and food maker Savola Group was one of the main supports, surging 4.0 percent.Savola has joined with Singapore's Temasek Holdings to bid for Kuwait Food Co (Americana), Bloomberg reported on Sunday, quoting unnamed sources.A series of potential suitors has been discussing the purchase of Americana, majority-owned by Kuwait's Kharafi family, since early 2014, with no result so far. A Savola spokesman was not available for comment; Temasek declined to comment. Shares in Americana surged 4.7 percent.Other Saudi sectors were also positive, continuing an advance which began on Sunday after the finance ministry said the government would continue borrowing if necessary to fund important development projects.Citing China's economic slowdown, Saudi Arabia's Albilad Capital on ...

Gulf consolidates, Egypt jumps as global backdrop improves DUBAI: Gulf stock markets consolidated on Thursday after oil prices and global equities steadied, while Egypt jumped on strong economic data and corporate news.Oil moved little on Thursday and Brent crude held above $50 a barrel, stronger than it was when most Gulf stock markets closed on Wednesday. Meanwhile, European stock indexes rose and emerging markets were steady as volatile Chinese markets were closed for holidays.This allowed Saudi Arabia's main stock index to edge up ...
Saudi, Egypt rise alongside global markets as oil steadies DUBAI: Stock markets in Saudi Arabia and Egypt rose in early trade on Thursday, tracking global bourses as oil prices, which had moved Middle Eastern equities earlier in the week, were relatively stable. The main Saudi equity index gained 0.7 percent with most stocks positive. The banking sector, up just as much, was one of the main supports. National Commercial Bank, the kingdom's largest lender, jumped 2.0 percent and Al Rajhi, another large bank, was ...
Saudi sinks after oil's plunge, Egypt also soft DUBAI: Saudi Arabia's stock market dropped sharply in early trade on Wednesday after oil prices plunged again, while Egypt's bourse was also weak, tracking global emerging markets. The main Saudi equity index fell 2.7 percent and all sectors were negative. Al Rajhi Bank, down 4.2 percent, was the main drag and another large lender, National Commercial Bank fell 1.9 percent. Rating agency Fitch on Monday revised its outlook on both banks' ratings to negative from ...
Gulf markets join global equity slide on China fears DUBAI: Stock markets across the Middle East fell on Tuesday alongside steep drops in global stock prices because of renewed uncertainty about the state of China's economy.Stock markets fell after data showed China's manufacturing activity had contracted in August at its fastest pace in three years, reinforcing fears of a slowdown in the world's second-largest economy despite a flurry of government support measures.Oil fell more than 4 percent after the Chinese data, giving up some ...
Gulf stocks slide in August over oil price dive KUWAIT CITY: Saudi stocks dived 17.2 percent in August to lead a slide in other Gulf bourses which came under pressure from a sharp decline in oil prices and China's economic woes.Global equities were hammered last week as risk-averse investors dumped shares on spreading panic that the flagging Chinese economy -- the world's second largest -- could spark a new worldwide recession.The August decline in the Gulf wiped out all gains made by its seven ...
Saudi Arabia, Egypt join regional pull-back DUBAI: Stock markets in Saudi Arabia and Egypt fell in early trade on Monday after oil prices dropped and emerging market equities in Asia slipped. The main Saudi stock index fell 1.6 percent, with petrochemicals heavyweight Saudi Basic Industries (SABIC) the main drag. It slid 2.2 percent, in line with the price of oil, which affects the industry's profit margins. Brent crude futures for October delivery have dropped more than $1 or 2 percent on ...


Index Closing Chg%
Arrow DJIA 17,812.19 0.11
Arrow Nasdaq 5,102.81 0.01
Arrow S&P 2,089.14 0.12
Arrow FTSE 6,277.23 0.45
Arrow DAX 10,933.99 1.43
Arrow CAC-40 4,820.28 1.41
Arrow Nikkei 19,879.81 0.23
Arrow H.Seng 22,587.63 0.35
Arrow Sensex 25,775.74 0.17

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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln