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Middle East & Africa


Emaar lifts Dubai as investors eye next unit&#39;s IPO DUBAI: Emaar Properties, Dubai's largest listed developer, helped lift the emirate's bourse in early trade on Tuesday after pricing its malls unit's initial public offer at the top of the indicated range and promising to float its hotels business next.Dubai's main index rose 0.7 percent as Emaar added 1.8 percent. Its subsidiary Emaar Malls Group <IPO-EMAR.DU> said on Monday it had raised $1.58 billion in the IPO amid massive demand from investors, making it the largest stock offer in a Gulf Arab economy since 2008. Emaar chairman Mohamed Alabbar was also quoted as saying on Monday that the company would list its hotels unit in coming months. He did not elaborate. Abu Dhabi's bourse was nearly flat with heavyweight banks mostly unchanged. Qatar's index edged down 0.3 percent. Qatar National Bank fell 1.0 percent and Industries Qatar lost 1.1 percent. Trading once again focused on property developer Ezdan Holding, which ...

Emaar gains after pricing malls unit; markets pull back DUBAI: Stock markets in the Middle East remained under pressure in early trade on Monday, giving up initial gains as investors continued to cash out ahead of the Eid al-Adha holiday.Dubai's bourse edged down 0.3 percent even though heavyweight Emaar Properties added 0.4 percent after its malls unit announced the final price of its initial public offer.As expected, the IPO priced at the top of the proposed range amid massive demand from investors, giving an ...
Markets remain vulnerable to profit-taking ahead of holidays DUBAI: Stock markets in the Middle East could see further profit-taking on Monday as investors may be reluctant to open new positions ahead of the Muslim holiday of Eid al-Adha, while bourses in the United Arab Emirates are still awaiting the return of surplus funds from the initial public offer of Emaar Malls Group (EMG).Most major markets in the region fell on Sunday, with investors also citing falling oil prices as a cause for concern. ...
Markets return to profit-taking ahead of Eid break DUBAI: Most major stock markets in the Middle East fell on Sunday as investors resumed profit-taking ahead of the Eid al-Adha holidays, against a backdrop of large share flotations and falling oil prices.Dubai's bourse led the decline, sliding 1.3 percent with most stocks in the red. Leading real estate developer Emaar Properties fell 0.4 percent after rising as much as 2.6 percent earlier in the session.The firm's subsidiary, Emaar Malls Group (EMG), closed subscriptions for ...
Egypt&#39;s bourse to close Oct 5-8 for Eid holidays CAIRO: Egypt's stock market and banks will close for three days starting on Sunday, Oct. 5 for the Muslim Eid al-Adha holiday and a national holiday, the bourse and central bank said on Sunday.The market is set to reopen on Wednesday, October 8.Copyright Reuters, 2014 ...
South Africa&#39;s Top 40 index seen nearly 6pc higher by mid-2015 JOHANNESBURG: South Africa's stock market index will rise going into 2015 but at a slower pace than last year, when it was fuelled by exceptionally stimulative monetary policy and excess liquidity, a Reuters poll showed on Friday. Traders and analysts polled this week are less optimistic about the Johannesburg Top 40 index's future performance than in a similar survey taken a year ago, when markets were awash in cash from the US Federal Reserve. The ...
Dubai&#39;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, ...


Index Closing Chg%
Arrow DJIA 17,814.94 0.02
Arrow Nasdaq 4,758.25 0.07
Arrow S&P 2,067.03 0.12
Arrow FTSE 6,731.14 0.02
Arrow DAX 9,861.21 0.77
Arrow CAC-40 4,382.31 0.32
Arrow Nikkei 17,407.62 0.29
Arrow H.Seng 23,843.91 0.21
Arrow Sensex 28,338.05 0.57

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