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Middle East & Africa


Dubai stocks rises on Arabtec; Saudi market dips further DUBAI: Builder Arabtec helped lift Dubai's bourse on Monday as investors speculated that Abu Dhabi state fund Aabar Investments might increase its stake in the firm and pay a premium to the market price.The Dubai index rose 0.5 percent as Arabtec jumped 3.7 percent to 4.77 dirhams and dominated trading volumes. News channel Al Arabiya reported on Monday that former Arabtec chief executive Ismaik had agreed to sell half of his 27.90 percent stake in the firm to Aabar at a price of between 5.00 and 5.50 dirhams per share; it quoted unnamed sources.After trading closed, a source close to Ismaik told Reuters that he had agreed in principle to sell at least part of his stake. The source declined to elaborate on the deal's size or price and Arabtec, from which Ismaik resigned abruptly in June, declined to comment on the matter.A large enough deal would make Aabar, which ...

South Africa's stock market trade resumes after network glitch JOHANNESBURG: South Africa's Johannesburg Stock Exchange (JSE) said trade had resumed after a system failure caused a two-hour stoppage on Monday.The bourse said it had reopened its auction call session at 11:00 am (0900 GMT) and continuous trading would resume at 11:30 am."The JSE has resolved the network issue and clients should now be receiving multicast data on both the A and B feeds," it said in a statement.The JSE has been hit by problems ...
Dubai rises; Waha Capital jumps on buyback plan DUBAI: Dubai's stock market continued its recovery in early trade on Monday from last week's slide, while Abu Dhabi's Waha Capital surged after saying it planned a share buyback. The Dubai index added 0.9 percent as most stocks rose. Emaar Properties, which on Sunday opened subscriptions for the $1.58 billion initial public offer of its malls unit, was the main support, gaining 0.4 percent. Cashing out by retail investors in preparation for the IPO was ...
South Africa's stock market delays open on network problems JOHANNESBURG: South Africa's Johannesburg Stock Exchange was experiencing a network connectivity problem that had delayed the start of trade on Monday, it said in a statement, adding that this required a reboot of one of its trading switches. "Some equity market clients may lose connectivity temporarily. Please note this will not affect any other market connectivity as only the equity market operates through this trading network," it said. Copyright Reuters, 2014 ...
Dubai may rally further; Saudi market nears chart support DUBAI: Dubai's stock market looks likely to continue recovering on Monday from last week's slide as retail investors are back in the market, while Saudi Arabia's bourse may test chart support after a few days of profit-taking. The Dubai index added 0.6 percent on Sunday and local retail investors were the main buyers, according to bourse data.The benchmark fell 3.1 percent last week as the same category of investors cashed out to prepare for the ...
Emaar lifts Dubai after launching malls unit IPO DUBAI: Dubai developer Emaar Properties lifted the emirate's bourse on Sunday after announcing the price range for the initial public offer of its shopping malls unit, while profit-taking in Egypt continued despite positive economic news.The Dubai index rose 0.6 percent as Emaar, the largest listed developer in the emirate, added 2.3 percent. The benchmark fell 3.1 percent last week as investors cashed out to prepare for the IPO of Emaar's subsidiary.Emaar said on Sunday, as ...
South Africa stocks lower, but Steinhoff shines JOHANNESBURG: South African stocks inched lower on Thursday, as a solid performance by furniture retailer Steinhoff International was offset by a sharp fall in Vodacom after Credit Suisse cut its rating on the mobile operator.Steinhoff rose 2.2 percent to 53.80 rand, helped by news that three of its directors - including one of South Africa's best known businessmen, retailing tycoon Christo Wiese - had increased their stakes in the company."When directors are dealing like that, ...


Index Closing Chg%
Arrow DJIA 17,390.52 1.13
Arrow Nasdaq 4,630.74 1.41
Arrow S&P 2,018.05 1.17
Arrow FTSE 6,546.47 1.28
Arrow DAX 9,326.87 2.33
Arrow CAC-40 4,233.09 2.22
Arrow Nikkei 16,413.76 4.83
Arrow H.Seng 23,998.06 1.25
Arrow Sensex 27,865.83 1.90

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln