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Middle East & Africa


Saudi Arabia surges ahead of market opening to foreigners DUBAI: Saudi Arabia's bourse surged on Sunday after the kingdom's securities regulator said it would open the market to direct foreign investment from June 15, while many other markets in the Middle East were weak.The main Saudi index rose 4.0 percent, its biggest gain this year, to 9,620 points on its highest volume in 11 months. It broke minor technical resistance at the late March high of 9,377 points and stood above the 200-day average, now at 9,572 points. It has not stayed above the average on a sustained basis since last November; a clean break above it would be longer-term bullish technically. The kingdom announced last July that it would permit direct foreign purchases of shares in the first half of 2015, as a way to expose companies to market discipline, diversify the economy beyond oil and create jobs. The Capital Market Authority announced after the close on Thursday ...

South African stocks rise, Brait up on Virgin Active bid JOHANNESBURG: South African stocks rose on Thursday with investment firm Brait leading the blue-chip index higher after investors cheered its bid for a stake in fitness chain Virgin Active.Brait's shares advanced by 4.3 percent to 90.45 rand on its offer to buy a controlling stake in the fitness chain jointly owned by the entrepreneur Richard Branson and CVC Capital Partners, with gyms across nine countries.Nic Norman-Smith, a fund manager at Lentus Asset Management, said although ...
Saudi bourse to open to foreign traders for first time RIYADH: The Saudi stock market will open on June 15 to direct trading by foreign companies for the first time, in a move likely to attract billions of dollars, regulators said Thursday.Until now, only companies registered in Saudi Arabia or another of the six Gulf Cooperation Council nations have been allowed to buy and sell shares directly on the Saudi market, the Arab world's largest.However, foreigners were allowed to trade indirectly through Saudi and GCC-based ...
South Africa's rand dips as power crisis, attacks on foreigners persist JOHANNESBURG: South Africa's rand weakened on Wednesday as power supplier Eskom implemented widespread electricity cuts for the fourth straight day, while attacks against foreign nationals also weighed on sentiment. By 1500 GMT the rand has slipped 1.42 percent to 12.1870 per dollar, near its softest level in two weeks. Against the euro, the local unit slipped more than one percent to a one week-low of 12.9543. The currency was equally weak against the British pound, ...
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 ...
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 ...


Index Closing Chg%
Arrow DJIA 17,689.86 0.03
Arrow Nasdaq 5,128.28 0.01
Arrow S&P 2,103.84 0.23
Arrow FTSE 6,696.28 0.41
Arrow DAX 11,308.99 0.46
Arrow CAC-40 5,082.61 0.72
Arrow Nikkei 20,585.24 0.30
Arrow H.Seng 24,636.28 0.56
Arrow Sensex 28,114.56 1.48

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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 $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln