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Middle East & Africa


South African shares slip, MTN tumbles after trading ex-dividend JOHANNESBURG: South African share prices eased slightly on Monday with heavy hitters such as MTN Group trading ex-dividend and despite higher copper prices boosting producers of the metal.Africa's largest telecoms provider MTN gave up the most value on the blue chip list when it lost 5 percent because it started trading without rights to the latest dividend.The benchmark Top-40 index shaved off 0.2 percent to 46,480 and the All-share gave up 0.1 to 52,559.Johannesburg's mining index was up 1.7 percent led by African Rainbow Minerals, which added nearly 4 percent as copper prices rose to their highest level in more than two months.Copper is riding on the weakening dollar, which has been on the back foot on expectations the United States will delay an interest rate hike. The infirm dollar boosts the purchasing power of commodity buyers paying with other currencies.While positive for copper producers, the weak dollar is a ...

Dubai's Arabtec helps UAE outperform sluggish Gulf DUBAI: A rebound by Dubai builder Arabtec lifted the mood of investors in the United Arab Emirates stock markets on Monday, while other bourses in the Middle East moved very little as oil once again halted its advance.Brent oil slipped 0.2 percent and traded near $55 per barrel after Saudi Arabia indicated it was now pumping near a record high of 10 million barrels per day, adding to concerns about global oversupply.Petrochemicals giant Saudi Basic ...
Gulf markets stand still as oil ends rally DUBAI: Most Gulf stock markets barely moved in early trade on Monday after oil ended its rally, while Dubai builder Arabtec found some support after falling to a 14-month low on poor fourth-quarter earnings.Oil prices dropped around a percentage point in early Asian trade on Monday after Saudi Arabia repeated over the weekend that it would not unilaterally cut its output to defend prices.Bourses in Dubai, Abu Dhabu and Oman were nearly flat, while the ...
Saudi shares flat, Egypt slips on fuel shortage DUBAI: Saudi Arabia's stock market moved little in early trade on Monday as oil prices fell, while Egypt dropped after construction firms complained that fuel shortages were delaying their projects.Brent crude was down 1.7 percent after Saudi Arabia said over the weekend that the market defined prices and the kingdom would not unilaterally cut its output to defend prices.Saudi Arabia's main stock index was nearly flat while petrochemicals giant Saudi Basic Industries, whose margins shrink ...
Gulf markets mixed; Arabtec dampens Dubai DUBAI: Gulf stock markets were narrowly mixed in early trade on Sunday, but Dubai builder Arabtec tumbled after swinging to a fourth-quarter loss.Arabtec fell 6.5 percent and was the main drag on Dubai's index, which edged down 0.4 percent.The company posted an unexpected fourth-quarter loss of 94.4 million dirhams ($25.7 million), blaming non-recurring general and administrative expenses.Arabtec reorganised itself and laid off some executives and staff after the abrupt departure in June last year of ...
Saudi Arabia extends rebound; Arabtec dampens Dubai DUBAI: Saudi Arabia's bourse rebounded further on Sunday after oil prices mounted an end-of-week rally, while other Gulf markets were steady although Arabtec weighed on Dubai following the builder's poor quarterly results.Brent oil rose 1.6 percent to $55.32 per barrel on Friday while U.S. crude futures for April delivery jumped 4 percent to settle at $45.72 as the dollar posted its biggest weekly decline against the euro in more than three years.Saudi Arabia's main stock ...
Gulf markets rebound as dovish Fed lifts oil DUBAI: Gulf stock markets rebounded on Thursday after a dovish statement from the U.S. Federal Reserve lifted oil prices and sparked a rally in global equities, but food maker Savola Group weighed on Saudi Arabia after a profit warning.Oil prices jumped on Wednesday after the Federal Reserve indicated it would raise U.S. interest rates more slowly than previously thought, overshadowing data showing U.S. crude inventories at a record level. Prices pulled back slightly on Thursday ...


Index Closing Chg%
Arrow DJIA 18,080.14 0.12
Arrow Nasdaq 5,092.09 0.71
Arrow S&P 2,117.69 0.23
Arrow FTSE 7,070.70 0.24
Arrow DAX 11,810.85 0.74
Arrow CAC-40 5,201.45 0.44
Arrow Nikkei 20,020.04 0.83
Arrow H.Seng 28,060.98 0.84
Arrow Sensex 27,437.94 1.07

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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 $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln