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Petchems lift Saudi to 6-year high; Arabtec jumps on buyout hopes DUBAI: Expectations of strong global demand for petrochemicals supported the uptrend in Saudi Arabia's stock market on Wednesday, lifting the bourse to a fresh six-year high, while Dubai builder Arabtec jumped on hopes that a key shareholder would increase its stake.Saudi Arabia's main index rose 0.8 percent to 11,030 points, closing above 11,000 points for the first time since January 2008.Petrochemicals were among the main drivers; Saudi Basic Industries rose 1.2 percent, Saudi International Petrochemical Co (Sipchem) jumped 4.7 percent and Saudi Kayan Petrochemical Co added 2.5 percent."Expectations of an increase in global demand for petrochemical products helped the sector to gain such momentum prior to the release of American durable goods orders and American consumer confidence index data, which (then) gave more optimism for the biggest economy in the world," said Turki Fadaak, research and advisory manager at AlBilad Capital in Riyadh.U.S. consumer confidence rose in August to its ...

South African stocks snap two-day winning streak as miners weigh JOHANNESBURG: South African stocks ended slightly lower on Wednesday, snapping a two-day winning streak, as miners came under pressure from a stronger rand and faltering metal prices.The benchmark JSE Top-40 index was down 0.27 percent at 46,351 and the broader All-share index inched down 0.23 percent to 51,610."The rand is little firmer and the price of iron ore continues to pull back and that is keeping diversified miners under some pressure," said Rabi Thithi, a ...
Kenyan shares buoyed by Kenya Airways, shilling flat NAIROBI: Kenyan stocks climbed for a fourth session in a row on Wednesday, thanks to a recovery in Kenya Airways' shares, while the shilling was flat against the dollar.The benchmark NSE-20 share index added 0.6 percent to close at 5,072.87 points, staying close to seven-month highs reached at the start of this month.Kenya Airways' shares rose 4.7 percent to 10 shillings, having fallen last week when the airline suspended its seven weekly flights to Liberia ...
Arabtec lifts Dubai; Bahrain's GFH rises on financing deal DUBAI: Renewed speculation in the shares of Dubai builder Arabtec lifted the emirate's market in early trade on Wednesday, while Bahrain's Gulf Finance House (GFH) rose after announcing a debt refinancing deal. Dubai's index gained 0.7 percent while Arabtec jumped 3.7 percent and dominated trading volume. Some investors hope Abu Dhabi state fund Aabar Investments, a major shareholder in the firm, will soon buy at least a part of the 27.90 percent stake held by ...
Mideast most markets edge down on profit-taking, geopolitics DUBAI: Most markets in the Middle East slipped in early trade on Tuesday as investors continued to book profits in some bourses and remained cautious about others, partly because of geopolitical concerns.Dubai's bourse edged down 0.7 percent. The emirate's largest listed real estate developer, Emaar Properties , slid 0.5 percent. Smaller property firms Deyaar and Union Properties fell 0.8 and 0.9 percent respectively.Abu Dhabi's top developer Aldar Properties fell 1.3 percent as that emirate's main ...
Saudi, Egypt slip on profit-taking after strong gains DUBAI: Stock markets in Saudi Arabia and Egypt edged down on Monday as investors booked profits after strong gains, while Qatar's bourse rose on expectations for fund inflows when a few local stocks get higher weightings in MSCI's emerging market index.Saudi Arabia's main stock index ended a six-day upswing, closing down 0.6 percent after earlier in the day rising above the psychologically important level of 11,000 points for the first time since January 2008.Trading volume ...
Saudi bourse pulls back on profit-taking; turnover rises DUBAI: Saudi Arabia's main stock index pulled back because of profit-taking on Monday after earlier in the day breaking through the psychologically important level of 11,000 points for the first time since January 2008.The main Saudi index was nearly flat in the early afternoon after rising 1.4 percent to 11,051 points and then dipping as much as 0.4 percent. The benchmark had gained in the six previous sessions."It's normal profit-taking," said Maged Ali Hasan, head ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklySeptember 25, 2014
Reserves $13.305 bln