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Middle East & Africa


Kenya shares climb, shilling holds steady NAIROBI: Kenyan shares rose on Thursday, helped by big gains in a handful of blue chip names, while the shilling held near three-year lows.The all-share index rose 0.46 percent to close at 163.77 points, reflecting the impact of gains among a number of large companies."The story at the NSE is the strength in the big caps like Safaricom which has closed at a new record today," said Aly Khan Satchu, an independent trader and analyst.Telecom operator Safaricom closed at 13.90 shillings a share, from the previous day's close of 13.60 shillings, as investors rewarded it for signing a key IT contract with the government.At the 1300 GMT close of trade, commercial banks posted the shilling at 90.15/20 per dollar, barely changed from Wednesday's closing level of 90.10/20."For now the shilling is stable, and is likely to trade rangebound unless the central bank sells dollars again," said Sheikh Mehran, head of ...

Gulf stocks in sell-off on OPEC pessimism DUBAI :Saudi Arabia's bourse followed other Gulf markets and fell in early trade on Thursday as investors' hope that OPEC would cut oil output to boost the price at a meeting in Vienna waned, while Egypt extended gains.Brent crude traded below $77 per barrel after Saudi Arabian Oil Minister Ali al-Naimi told reporters late on Wednesday that the Gulf's oil exporters had reached a consensus and would not propose output cuts."Definitely, the speech from the ...
UAE, Qatar edge down; Dubai's Arabtec jumps DUBAI: Stock markets in the United Arab Emirates and Qatar edged down in early trade on Thursday as oil prices fell, although Dubai's Arabtec jumped after a source said its former chief executive would not sell his stake at the current price. Brent crude traded below $77 per barrel after Saudi Arabia, Kuwait, Qatar and the United Arab Emirates indicated they will not propose an output cut during the OPEC meeting on Thursday, reducing the ...
South Africa stocks end lower, naira hits MTN JOHANNESBURG: South African stocks slipped on Wednesday, driven by losses in Africa's largest telecoms operator MTN after the devaluation of the Nigerian currency.Nigeria is the biggest of MTN's 22 operations across Africa and the Middle East and contributed more than a third of the company's 72.8 billion rand ($6.6 billion) revenue in the first half of this year. The Nigerian central bank devalued its currency by 8 percent on Tuesday as the oil-producing nation takes ...
Gulf markets slide; Egypt rebounds DUBAI: Most stock markets in the Gulf fell in early trade on Wednesday as sliding oil prices remained a concern for investors, while oil importer Egypt posted gains. Saudi Arabia's index fell 1.7 percent shortly after opening, largely weighed down by bank stocks. Shares in Al Rajhi Bank dropped 3.0 percent, Samba Financial Group lost 2.9 percent and Bank AlBilad tumbled 3.8 percent. The price of Brent crude fell towards $78 per barrel on Wednesday ...
Markets fall as investor hopes fade for OPEC output cut DUBAI: Most regional markets fell on Tuesday due to bearish oil price expectations, with strong foreign demand for several heavyweight stocks listed in the United Arab Emirates and Qatar failing to offset a broad sell-off by local investors.In its semi-annual review, index compiler MSCI this month raised the weightings of a number of UAE and Qatari stocks in its emerging markets benchmark, a move that takes effect after Tuesday's close.At the same time, MSCI completed ...
Egypt, Saudi slide; funds start buying in UAE, Qatar DUBAI: Stock markets in Saudi Arabia and Egypt fell in early trade on Tuesday while funds tracking MSCI's emerging markets index started buying several stocks in the United Arab Emirates and Qatar ahead of scheduled adjustments to the benchmark. Saudi Arabia's index fell 1.2 percent, with most stocks in the red. Saudi Basic Industries lost 1.2 percent, while food maker Savola Group and Al Rajhi Bank were down 2.9 and 1.1 percent respectively. Egypt's bourse ...


Index Closing Chg%
Arrow DJIA 17,804.80 0.15
Arrow Nasdaq 4,765.38 0.36
Arrow S&P 2,070.65 0.46
Arrow FTSE 6,545.27 1.23
Arrow DAX 9,786.96 0.25
Arrow CAC-40 4,241.65 0.18
Arrow Nikkei 17,621.40 2.39
Arrow H.Seng 23,116.63 1.25
Arrow Sensex 27,371.84 0.90

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln