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Middle East & Africa


Saudi sinks after oil's plunge, Egypt also soft DUBAI: Saudi Arabia's stock market dropped sharply in early trade on Wednesday after oil prices plunged again, while Egypt's bourse was also weak, tracking global emerging markets. The main Saudi equity index fell 2.7 percent and all sectors were negative. Al Rajhi Bank, down 4.2 percent, was the main drag and another large lender, National Commercial Bank fell 1.9 percent. Rating agency Fitch on Monday revised its outlook on both banks' ratings to negative from stable, following a similar revision for the sovereign's outlook last month, which was due to low oil prices. Petrochemicals firm Saudi Basic Industries, whose profits are suffering from oil's drop, tumbled 3.5 percent. Mecca real estate developer Jabal Omar dropped 4.5 percent after announcing on Monday it had cancelled a 1.6 billion riyal ($427 million) contract with a construction firm because both sides needed to review it. Egypt's main index fell 1.2 percent and bourse ...

Gulf markets join global equity slide on China fears DUBAI: Stock markets across the Middle East fell on Tuesday alongside steep drops in global stock prices because of renewed uncertainty about the state of China's economy.Stock markets fell after data showed China's manufacturing activity had contracted in August at its fastest pace in three years, reinforcing fears of a slowdown in the world's second-largest economy despite a flurry of government support measures.Oil fell more than 4 percent after the Chinese data, giving up some ...
Gulf stocks slide in August over oil price dive KUWAIT CITY: Saudi stocks dived 17.2 percent in August to lead a slide in other Gulf bourses which came under pressure from a sharp decline in oil prices and China's economic woes.Global equities were hammered last week as risk-averse investors dumped shares on spreading panic that the flagging Chinese economy -- the world's second largest -- could spark a new worldwide recession.The August decline in the Gulf wiped out all gains made by its seven ...
Saudi Arabia, Egypt join regional pull-back DUBAI: Stock markets in Saudi Arabia and Egypt fell in early trade on Monday after oil prices dropped and emerging market equities in Asia slipped. The main Saudi stock index fell 1.6 percent, with petrochemicals heavyweight Saudi Basic Industries (SABIC) the main drag. It slid 2.2 percent, in line with the price of oil, which affects the industry's profit margins. Brent crude futures for October delivery have dropped more than $1 or 2 percent on ...
Nigerian stocks recover, led by banking and energy LAGOS: Nigerian stocks showed signs of recovery on Friday, gaining more than one percent after a strings of losses caused by falling oil prices and weakening growth in Africa's biggest economy. Nigeria's stock index, which has the second-biggest weighting after Kuwait on the MSCI frontier market index, rose 1.26 percent to 28,577 points in early trade, lifted mainly by gains in banking, breweries and energy firms stocks. Shares of First Bank holdings rose 9.26 percent ...
Stocks set to rise on better global backdrop DUBAI: An improved global backdrop looks set to boost Middle East stocks on Thursday although concern about the long-term oil price trend is likely to keep many investors cautious.Though most Gulf stock markets pulled back on Wednesday, the strong rebound on Tuesday, during which some institutional investors returned to buy selected stocks with valuations that they now saw as reasonable, created a sense that markets had established at least short-term floors.A better global environment on ...
Nigeria stock index falls for second day to hit 6-month low LAGOS: Nigeria's stock index fell to a more than six-month low early on Tuesday, its second day of losses, as investors worried about the persistent decline in crude prices and a slowdown in China's economy sold off frontier market shares. The bourse, which has the second-biggest weighting after Kuwait on the MSCI frontier market index, fell 1.95 percent at 1033 GMT to 28,645 points, its lowest since February 18, as investors sold off shares in ...


Index Closing Chg%
Arrow DJIA 17,719.92 0.44
Arrow Nasdaq 5,108.67 0.37
Arrow S&P 2,080.41 0.46
Arrow FTSE 6,356.09 0.30
Arrow DAX 11,382.23 0.78
Arrow CAC-40 4,957.60 0.56
Arrow Nikkei 19,747.47 0.69
Arrow H.Seng 21,996.42 0.33
Arrow Sensex 26,145.67 0.07

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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 30, 2015
Reserves $19.828 bln