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Middle East & Africa


Saudi stock index tumbles 5pc, drags down Gulf DUBAI: Saudi Arabia's main stock index plunged 5 percent on Thursday amid panic selling by retail investors, dragging down other stock markets in the Gulf.The Saudi index sank to 9,407 points, its lowest level since mid-April. In response, Dubai's index tumbled 4.7 percent and Qatar lost 2.3 percent.The Saudi market has now erased all of the 14 percent gains which it posted after authorities announced in late July that they would open the market to direct foreign investment early next year.Traders said the slide of global equity markets had undermined confidence in Saudi Arabia, while the drop of oil prices to their lowest level since 2010 was also negative for the world's biggest oil exporting country.Economists do not expect cheap oil to be a disaster for the Saudi economy; its state budget breaks even at an oil price of around $90, but it has huge fiscal reserves that will allow ...

Global markets, oil, poor earnings may weigh on stocks DUBAI: Markets in the Middle East may remain under pressure on Thursday after global equities continued to slide along with the price of oil and two large banks in the region reported declines in third-quarter profit, missing analysts' estimates. The US S&P 500 index fell 0.8 percent on Wednesday, while European equities shed 3.2 percent to mark their biggest one-day slide in almost four years on deepening concerns about global economic growth. Asian shares are ...
Mideast Markets decline further as global gloom persists DUBAI: Most stock markets in the Middle East continued to decline on Wednesday as global equities remained under pressure and disappointing quarterly earnings and forecasts weighed on bourses in Oman and Kuwait.While selling of Gulf stocks in previous days was fairly indiscriminate, many oil-related shares suffered most on Wednesday as the price of Brent crude slipped to a fresh 47-month low, before recovering slightly to around $84 a barrel.Lower oil prices are not a disaster ...
Dubai, Saudi Arabia stocks lead rebound as panic eases; strong Q3 earnings DUBAI: Most major stock markets in the Middle East rebounded on Monday, led by bourses in Dubai and Saudi Arabia, as global equities stabilised and several companies in the region reported strong quarterly earnings.On Sunday, some regional bourses had posted their biggest losses in years as global markets' decline at the end of last week, and sliding oil prices, triggered broad profit-taking. The main indexes in Dubai and Saudi Arabia plunged 6.5 percent.But although Dubai ...
UAE markets' decline slows; Shuaa up on strong Q3 DUBAI: Stock markets in the United Arab Emirates continued to decline in early trade on Monday but at a much slower pace than on Sunday, while Dubai's Shuaa Capital jumped after posting strong third-quarter results.Dubai's main index, which plunged 6.5 percent on Sunday, fell 1.3 percent shortly after the opening on Monday as most stocks were in the red.Emaar Properties, the emirate's largest listed developer, dominated trading volume and fell 1.9 percent. But shares in ...
Sell-off may continue as global stocks, oil remain weak DUBAI: Stock markets in the Middle East may remain under pressure on Monday after many bourses closed near their daily lows on Sunday and some stocks tumbled their daily limits, reacting to declines in global equities.Another negative factor is indications that Saudi Arabia, the world's largest oil exporter, is setting aside its longstanding de facto strategy of holding prices at around $100 a barrel for Brent crude in favor of retaining market share in years ...
South Africa stocks slide as resources hammered, tech rebound seen JOHANNESBURG: South African stocks slid on Friday in line with equities markets elsewhere as investors fretted about the prospect of a global economic slowdown, but analysts said Johannesburg could rally next week on technical factors. Dim global growth prospects mean a grim outlook for commodity prices with the likes of petrochemicals giant Sasol falling 3.9 percent and Impala Platinum shedding 4.9 percent in a broad-based resource sell off. Among blue chips, Africa's top bullion producer ...


Index Closing Chg%
Arrow DJIA 17,827.75 0.07
Arrow Nasdaq 4,787.32 0.61
Arrow S&P 2,072.83 0.28
Arrow FTSE 6,723.42 0.09
Arrow DAX 9,974.87 0.60
Arrow CAC-40 4,382.34 0.20
Arrow Nikkei 17,248.50 0.78
Arrow H.Seng 24,004.28 0.45
Arrow Sensex 28,438.91 0.19

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln