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Middle East & Africa


Dubai stocks jump after strong Q1 earnings DUBAI: Dubai's bourse posted its biggest daily gain in 10 weeks on Wednesday after strong first-quarter earnings from Dubai Islamic Bank and real estate developer Deyaar.The Dubai index jumped 3.0 percent on its heaviest trading volume this year, hitting a two-month closing high of 3,942 points.Dubai Islamic Bank (DIB) was the main support, surging 5.3 percent to 6.75 dirhams in active trade. DIB's net profit attributable to shareholders rose 33.9 percent year-on-year to 816.7 million dirhams ($222.4 million), beating analysts' estimates; EFG Hermes had forecast 751.21 million dirhams and HSBC had expected 677 million dirhams.The stock rose above its 100-day average, now at 6.56 dirhams, for the first time since November; it faces resistance at the March peak of 6.84 dirhams.Deyaar rose 3.9 percent. The firm became the first Dubai real estate company to post earnings this season and reported a 6 percent rise in first-quarter net profit, well ahead ...

South Africa's stocks slip, Naspers gives back gains JOHANNESBURG: South African stocks snapped a five-day winning streak on Tuesday, dragged down by e-commerce firm Naspers, which slid after the head of its Chinese money-spinner Tencent sold a large stake in the firm. Naspers, the most expensive African company, fell 5.6 percent, after scaling record levels on Monday and tracking Tencent's decline in China. Tencent slumped after the chief executive reduced his holdings in China's biggest social networking and online entertainment firm. But analysts ...
South African stocks rise for fifth session, Naspers at new peak JOHANNESBURG: South African stocks rose for the fifth straight session on Monday, lifted by Naspers Ltd whose shares surged to a record high as well as a jump in Sasol's shares after the global oil price recovered.Naspers, Africa's largest company by market value, jumped 1.8 percent to 1,980 rand after hitting an all time high of 2,029 rand. Shares in the media and e-commerce firm have gained about 90 percent over the last 12 months.Naspers ...
Saudi Arabia stock edges up as oil rallies DUBAI: Saudi Arabia's stock market rose moderately in early trade on Monday, supported by positive corporate news and firmer oil.The benchmark climbed 0.5 percent as most stocks rose, offsetting negative influence from heavyweight Saudi Basic Industries, which dropped 2.7 percent as it went ex-dividend.Petrochemical firm PetroRabigh surged 4.8 percent after announcing it would ask shareholders to approve raising its capital via a rights issue worth about 7.04 billion riyals ($1.88 billion).The company has yet to ...
Most Gulf markets narrowly mixed but Dubai rises DUBAI: Most Gulf stock markets were narrowly mixed on Sunday, influenced by a mixed set of earnings and corporate news, though Dubai rose on the back of real estate-related stocks. Brent crude oil rose 2.3 percent on Friday and posted a 5.3 percent weekly gain on lowered expectations that an agreement on Iran's nuclear programme would result in a rapid return of more Iranian oil to the market.Meanwhile, world equity markets tested record highs on ...
Oil, earnings lift Saudi Arabia stocks DUBAI: Saudi Arabia's bourse rose broadly in early trade on Sunday on the back of stronger oil and positive earnings reports and expectations.The kingdom's main stock index climbed 0.9 percent and petrochemicals giant Saudi Basic Industries was the main support, jumping 2.9 percent.Brent crude rose 2.3 percent on Friday and posted a 5.3 percent weekly gain on lowered expectations that an agreement on Iran's nuclear programme would result in a rapid return of more Iranian ...
Gulf stock higher on oil, Egypt rises after debt upgrade DUBAI: Most Gulf stock markets rose on Wednesday, buoyed by firmer oil prices, as Egypt climbed after rating agency Moody's Investors Service upgraded the country's sovereign debt.Brent crude had rebounded sharply in the past two days and although it pulled back slightly on Wednesday, it remained above $58 a barrel, about $1 above its levels when Gulf stock markets were open on Tuesday.The Saudi stock index climbed 0.6 percent to 8,852 points in increasing turnover. ...


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