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Middle East & Africa


South Africa stocks book record close for third day  JOHANNESBURG: South African stocks booked a record closes on Wednesday, extending their run into a third day, as hopes of further US stimulus boosted riskier assets worldwide.   Mining shares topped the gainers' list on the benchmark JSE Top-40 index as metal prices cruised higher with the price of copper at its strongest level in two months.   The stock market has hit a string record highs this year, largely unmoved by a global economic slowdown, US fiscal problems, wildcat strikes at home and the euro zone debt crisis.   "What alternatives do you have to generate returns? We are in a low interest rate environment, cash is cheap and doesn't earn you anything in the bank so everyone is chasing the same asset for decent returns," Nilan Morar, a dealer at Global Trader.   "If you get a stock market that delivers 20 percent or even 15 percent return that's three or five times what you're getting ...

South African stocks open at record highs, then slip  JOHANNESBURG: South Africa's Top-40 index scaled a fresh peak on Wednesday in opening trade, pulled up by a late-year rally in major global markets, but then fell back into negative territory.   The Top 40 index opened 0.05 percent higher at a new record level of 34,260.03. The wider All-share index also briefly hit a new high of 38,546.34 before also slipping into the red. Copyright Reuters, 2012** ...
Iraq sees near-record 3.7mbpd oil output in 2013  VIENNA: Iraq, the world's fastest growing crude exporter, expects more quick gains next year as foreign companies push production towards the highest level ever, Iraqi Oil Minister Abdul-Kareem Luaibi said on Sunday.   After stagnating for decades due to wars and sanctions, Iraq's oil output began to rise in earnest in 2010 after Baghdad secured service contracts with companies such as BP, Eni , Exxon Mobil and Royal Dutch Shell.   Flows have now reached 3.4 million barrels per ...
South African shares fall as gold miners lose lustre JOHANNESBURG: South African stocks retreated from record highs on Monday as a Greek plan to buy back bonds put pressure on Johannesburg-listed bullion producers such as Gold Fields.   South Africa's biggest gold producers AngloGold Ashanti, Harmony and Gold Fields all lost more than 2 percent.   Greece announced on Monday a 10 billion euro bond buy-back plan intended to reduce its ballooning debt and open aid taps, which cheered the market's appetite for assets riskier than gold.   Uncertainty in ...
Egypt up after Cairo protests pass calmly  DUBAI: Egypt's index rose on Sunday, recouping some of last week's steep losses, after fears of clashes between supporters of President Mohamed Mursi and his opponents over the weekend proved unfounded.   Middle East markets were mixed, with Saudi Arabia up for a third session since Tuesday's 10-month low, while Kuwait gave back early gains as a post-election bounce proved short-lived.   Egypt's Mursi on Saturday called a Dec. 15 referendum on a new constitution, hoping to end protests ...
Egypt stocks extend losses on political turmoil  CAIRO: Egypt's main stock market index dropped 4 percent on Monday, extending a fall triggered by a political crisis that eroded a tenth of its value the previous day, on worries that a row over an expansion of the president's powers will bring more turmoil.   At 0840 GMT, just after the market opened, the benchmark index was down 3.9 percent. It is at its lowest level since July this year, shortly after President Mohamed Mursi assumed ...
Dubai economy grows 4.1pc y/y in Jan-June  DUBAI: Dubai's economy grew 4.1 percent year-on-year in the first half of this year when adjusted for inflation, with most economic sectors expanding, Arif Obaid al-Muhairi, Executive Director at Dubai Statistics Center, said on Monday.   Real gross domestic product rose to 161.5 billion dirhams ($44 billion) in January-June, he said.   The economy of Dubai, one of seven members of the United Arab Emirates, expanded 3.4 percent in 2011, helped by strong trade flows and rising tourist numbers.   Copyright ...


Index Closing Chg%
Arrow DJIA 16,408.54 0.10
Arrow Nasdaq 4,095.52 0.23
Arrow S&P 1,864.85 0.14
Arrow FTSE 6,625.25 0.62
Arrow DAX 9,409.71 0.99
Arrow CAC-40 4,431.81 0.59
Arrow Nikkei 14,417.53 0.01
Arrow H.Seng 22,760.24 0.28
Arrow Sensex 22,628.84 1.58

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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln