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Middle East & Africa


Arabtec speculation lifts Dubai, most markets up DUBAI: Speculative bets on Dubai builder Arabtec helped lift the emirate's bourse in early trading on Sunday, while most markets in the region also edged up. Shares in Arabtec jumped 2.6 percent, dominating turnover in Dubai as the bourse's main index rose 0.2 percent. "What's happened to Arabtec is still to do with the speculation on who will buy the stake from (former chief executive) Hasan Ismaik," said Sanyalak Manibhandu, manager of research at NBAD Securities in Abu Dhabi. Ismaik, who quit in June, owns a 27.90 percent stake in Arabtec and many investors hope he will sell it to a large state-owned entity such as Abu Dhabi state fund Aabar Investments, which already owns 18.94 percent of the firm. Abu Dhabi's bourse was nearly flat. Shares in the emirate's largest listed developer, Aldar Properties, added 0.3 percent after the firm said on Sunday it would lease 607 apartments to ...

Markets to consolidate, Saudi banks may stay strong DUBAI: Most Middle East stock markets look set to consolidate in modest turnover on Thursday, though Saudi Arabian banks may continue to attract interest after some surged on Wednesday. The global market environment is soft, with Asian shares under pressure after a disappointing survey of Chinese manufacturing. MSCI's broadest index of Asia-Pacific shares outside Japan is down 0.6 percent. Most Gulf stock markets have been suffering from low turnover during the summer lull and show ...
Banks lift Saudi to 6-year high; Suez project cheers Egypt DUBAI: Banks led Saudi Arabia's stock index to a new six-year peak as trading volumes increased on Wednesday, while Egypt also extended gains. But other Gulf markets were subdued as a summer lull deepened.The Saudi measure rose 0.5 percent to 10,716 points, its highest finish since January 2008. Nearly 270 million shares changed hands, a two-week high: Saudi Arabia has not suffered the summer trading slump of neighbouring bourses.Eight of the 10 largest stocks advanced. ...
Kenyan shilling flat, seen vulnerable NAIROBI: The Kenyan shilling was steady on Monday but was seen vulnerable if the tight money market conditions ease up, traders said.At 0705 GMT, commercial banks quoted the shilling at 88.05/88.15 to the dollar, unchanged from its closing level on Friday.The shilling has been supported by tighter conditions on the interbank market, where the weighted average lending rate rose to 11.9492 percent on Friday from about 7.5 percent in mid-July.Commercial Bank of Africa trader Joshua ...
Kuwait Food Co falls after says no knowledge of Savola takeover talks DUBAI: Shares in Kuwait Food Co (Americana) fell on Monday after the company said it had no knowledge of any talks with Saudi Arabia's Savola Group over a possible acquisition of Americana. Americana was down 1.3 percent at 0733 GMT, resuming trading following a five-day suspension. The stock rose 2.6 percent to a record high on Aug. 13 after Savola said in a bourse statement that it was in preliminary talks to buy Americana, but ...
South African stocks down, Naspers retreats from record high JOHANNESBURG: South African stocks fell for a third straight session on Thursday after a slew of financial results knocked prices of companies such as lender Standard Bank and mining firm Harmony Gold. Shares of e-commerce firm Naspers retreated from a record high hit the previous day, ending down 4.68 percent at 1,365.40 rand. Naspers jumped on Wednesday after China's Tencent, in which it owns over a third, reported higher first-half earnings. The benchmark Top-40 index ...
Egypt bullish as institutions buy in DUBAI: Egypt's stock market may have a bullish tone on Tuesday as increased institutional involvement suggests the bourse can continue setting new highs. The main benchmark rose 1.3 percent on Monday, its fifth gain in six sessions, to reach a new six-year peak; it closed very near its intra-day high. "Institutions are getting more involved in Egyptian stocks in terms of both volume and value," said Allen Sandeep, director of research at Naeem Holdings in ...


Index Closing Chg%
Arrow DJIA 17,279.74 0.08
Arrow Nasdaq 4,579.79 0.30
Arrow S&P 2,010.40 0.05
Arrow FTSE 6,837.92 0.27
Arrow DAX 9,799.26 0.01
Arrow CAC-40 4,461.22 0.08
Arrow Nikkei 16,321.17 1.58
Arrow H.Seng 24,306.16 0.57
Arrow Sensex 27,090.42 0.08

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln