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Middle East & Africa


Dubai's Marka jumps on listing; Saudi Arabia rebounds DUBAI: Dubai's bourse edged down on Thursday as investors focused on the listing of retail and restaurants start-up Marka, while Saudi Arabia's index rebounded from a one-month low and other markets in the region were mixed.Marka shares jumped 59 percent - having doubled in price at one point - as they listed on Thursday in the first flotation on the emirate's main stock market since 2009. They dominated trading volume on the bourse.Dubai's main index, which does not yet include Marka, pulled back 0.2 percent.Thursday was the last day on which institutional investors could sell stocks on the market in order to raise cash and subscribe for the much bigger initial public offer of Emaar Malls Group, a subsidiary of Dubai's largest listed real estate developer, Emaar Properties.Subscription closes on Friday and sources familiar with the matter told Reuters on Wednesday that the institutional tranche had been subscribed 7.5 times ...

Dubai's Marka may jump on listing, likely to be volatile DUBAI: Shares in start-up Dubai retailer Marka are likely to gain when it lists on Thursday, but they may be volatile as there is little institutional interest in the stock and much retail investor cash is tied up in the initial public offer of Emaar Malls Group. Marka raised 275 million dirhams ($75 million) in April through an initial public offer that was 36 times subscribed at a price of 1 dirham per share - ...
Saudi bourse may remain under pressure ahead of Eid break DUBAI: Saudi Arabia's stock market, which slid in its last session following the announcement of a large initial public offer, may remain under pressure on Wednesday as the kingdom prepares to celebrate the Muslim holiday of Eid al-Adha. The main Saudi index fell 1.2 percent on Monday, its biggest decline in three months, as investors started to set aside cash for next month's flotation of National Commercial Bank (NCB), the kingdom's largest bank by assets. ...
UAE, Qatar may consolidate; Dubai awaits Marka listing DUBAI: Stock markets in the United Arab Emirates and Qatar may consolidate further on Tuesday, with trading volumes depressed in both countries and Dubai investors awaiting the main bourse's first flotation in five years. Dubai retailing and restaurants group Marka will list its shares on the Dubai Financial Market (DFM) on Thursday.Emaar Malls Group (EMG), a subsidiary of Emaar Properties, will follow on Oct.2. Subscriptions for EMG's $1.58 billion initial public offer will close on ...
Mideast stocks mostly flat in early trade, Egypt pulls back DUBAI: Most markets in the region moved very little in early trade on Monday as bourses in the United Arab Emirates and Qatar consolidated after one-off foreign fund inflows.S&P Dow Jones has upgraded the UAE and Qatar to emerging market status from Monday and funds tracking its benchmark moved into both markets at the end of last week, causing an upswing, which was followed by a pull-back in the last session.Some stocks from the region ...
Saudi Arabia's bourse may weaken ahead of NCB IPO DUBAI: Investors in Saudi Arabia may start selling stocks on Monday and setting aside cash for the upcoming initial public offer of National Commercial Bank (NCB) after the lender said it would launch the subscription next month.NCB is Saudi Arabia's largest bank by assets and the offer, in which it plans to sell 15 percent of shares to the public and place a further 10 percent with a state fund, is expected to be one ...
South Africa stocks end lower as commodities weigh JOHANNESBURG: South African stocks ended Friday slightly lower as subdued commodity prices and concerns about Chinese growth pulled resource shares down, although other sectors were propped up by global market relief over the outcome of Scotland's referendum. Shares on the back foot included iron ore producer Kumba , which shed 1.15 percent. Bullion producers were also under pressure as the precious metal was poised for its third straight weekly drop in the face of dollar ...


Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
Arrow CAC-40 4,347.23 2.67
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,437.12 0.37
Arrow Sensex 28,334.63 0.95

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln