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Middle East & Africa


Oil bounce revives Gulf but not Russia or Nigeria LONDON: An oil price bounce helped Gulf stock markets higher on Tuesday, although Russian and Nigerian currencies remained under pressure on persistent doubts over their central banks' ability to provide support.With Brent crude trading at about $72, breaking a five-day losing streak, the rouble staged a brief rally but headed lower again, losing 1.4 percent against the dollar .Unease is growing about the Russian central bank's absence from currency markets despite heavy rouble losses, amounting to almost 6 percent at one point on Monday. The bank last month floated the rouble which has been battered for months by falling oil and the impact of Western sanctions over the Ukraine crisis."The extreme volatility we are witnessing in the rouble is something that should not be allowed by a central bank to happen. The gyrations that the rouble is facing on a daily basis is not a normal situation and shows that ...

Gulf markets stabilise after panic sell-off DUBAI: Gulf stock markets steadied and some rebounded on Monday after tumbling a day earlier in response to a plunge in oil prices.Brent crude fell nearly $2 a barrel to a five-year low below $68 in early trade on Monday but then pared some losses and climbed towards $70. That appeared to soothe Gulf investors' nerves and inspire some late buying.Saudi Arabia's index rose 1.1 percent as most market sectors rebounded, while petrochemicals were almost ...
Gulf markets choppy; Zain Saudi plunges DUBAI: Most Gulf stock markets declined further on Monday, albeit at a much slower pace than a day earlier, as investors responded to attempted rebounds with renewed selling.Oil fell nearly $2 a barrel in Asian trade on Monday and both U.S. crude and Brent have fallen for five straight months. Brent, which was trading at $68.36 a barrel, has fallen about 40 percent from June's 2014 high.Dubai's benchmark was down 2.3 percent at 4,182 points ...
Oil's plunge triggers panic selling in Gulf DUBAI: Gulf stock markets plunged on Sunday after OPEC's decision to keep crude output unchanged sent oil prices tumbling at the end of last week.Saudi Arabia's index dropped 5.3 percent to an eleven-month low minutes after opening. Shares in petrochemicals giant Saudi Basic Industries (SABIC) were down 7.1 percent.Dubai's benchmark dropped 6.3 percent to a five-month low, with all traded stocks in decline.Qatar's index was down 4.4 percent, slumping to its lowest level since early ...
UAE markets slump to five-month lows DUBAI: Gulf stock markets plunged on Sunday after OPEC's decision to keep crude output unchanged sent oil prices tumbling.The price of Brent crude LCOc1 has tumbled about 10 percent to $70.15 per barrel since regional equity markets last traded on Thursday.Dubai's index fell 4.7 percent to a five-month closing low of 4,281 points, with most stocks in decline. It hit an intraday low of 4,192 points before bargain hunters stepped in to take advantage of ...
Mideast markets dip again on oil price concerns DUBAI: Most Gulf stock markets fell further on Thursday as investors' hopes that OPEC would cut oil output to boost prices waned, while Egypt's bourse rose as Cairo's government eyed savings from cheaper crude.Brent crude fell $2 to a 50-month low under $76 after Saudi Arabian Oil Minister Ali al-Naimi told reporters late on Wednesday that the Gulf's oil exporters had reached a consensus and would not propose output cuts. OPEC members met in Vienna ...
Kenya shares climb, shilling holds steady NAIROBI: Kenyan shares rose on Thursday, helped by big gains in a handful of blue chip names, while the shilling held near three-year lows.The all-share index rose 0.46 percent to close at 163.77 points, reflecting the impact of gains among a number of large companies."The story at the NSE is the strength in the big caps like Safaricom which has closed at a new record today," said Aly Khan Satchu, an independent trader and analyst.Telecom ...


Index Closing Chg%
Arrow DJIA 17,778.15 2.43
Arrow Nasdaq 4,748.40 2.24
Arrow S&P 2,061.23 2.40
Arrow FTSE 6,466.00 2.04
Arrow DAX 9,811.06 2.79
Arrow CAC-40 4,249.49 3.35
Arrow Nikkei 17,210.05 2.32
Arrow H.Seng 22,832.21 1.09
Arrow Sensex 27,126.57 1.56

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln