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Middle East & Africa


South African stocks fall from record highs, Coronation slides JOHANNESBURG: South African stocks retreated from record highs on Tuesday on as Coronation Fund Managers flagged lower first-half earnings but iron ore companies bucked the weaker trend.Shares in Coronation slid 8.8 percent to 96 rand, its biggest daily decline in six years after the money-manager reported that profits would slip by up to 15 percent.The benchmark Top-40 index was down 0.42 percent to 48,758 and the broader All-share index down 0.27 percent to 55,039.Iron ore producer Assore surged 9.6 percent on the back of higher iron ore prices which approached a two-month high of $60 a tonne as steel mills in the largest consumer China replenished inventories."The iron ore price has been rising, certain small mines have been cutting back on production and the most important thing is that these shares have been hugely oversold," said Greg Katzenellenbogen, director at Sanlam Private Wealth.Industry rival Kumba Iron Ore added 8.4 percent ...

Poor telecom earnings, US Fed and oil may dampen Gulf DUBAI: Gulf equity markets may stall or pull back slightly on Tuesday after several poor earnings reports and ahead of a US Federal Reserve meeting, as well as US oil inventory data that is expected to hit another high.Brent crude is trading near $64 per barrel in Asia, down more than 1 percent, as US commercial crude stockpiles are anticipated to rise for a 16th straight week.Meanwhile, Asian equities have slipped, tracking Wall Street, which ...
Saudi, Dubai pull back after rallies; Egypt nears 2015 low DUBAI: Gulf stock markets were mixed on Monday as strong oil prices supported investor sentiment but Saudi Arabia and Dubai pulled back slightly from 2015 highs hit in the previous session. Egypt remained depressed by tax and foreign currency concerns. Brent crude slipped less than 1 percent to around $65 per barrel while Gulf stock markets were open on Monday as the US dollar strengthened. But signs that US shale oil output may have started ...
Oil buoys Gulf markets; Dubai, Saudi hit 2015 highs DUBAI: Most major Gulf stock markets, led by Dubai, rose on Sunday after the Brent oil price hit a 4-1/2-month high, while the bourse of energy importer Egypt closed in the red. Brent crude climbed to $65.80 a barrel on Friday because of continued fighting in Yemen and, although US crude fell on concerns about another upcoming stock build, both benchmarks posted weekly gains. The main Saudi equities index gained 1.2 percent on Sunday to ...
South African stocks scale new records, Kumba up on iron prices JOHANNESBURG: South African shares scaled new peaks on Wednesday, led by Kumba Iron Ore, which got an upward jolt from a spike in spot prices for its product.Kumba, a unit of Anglo American, has been trading near 6-1/2 year lows on iron ore price woes. It's shares rose 3.5 percent to 133.22 rand, making it the top advancer among blue chips.Spot iron ore jumped about 4 percent following a similar uptick in Chinese iron ore ...
Middle East markets edge up as Yemen air strikes end DUBAI: Most major stock markets in the Middle East rose modestly on Wednesday after Saudi Arabia and its allies in the region decided to end a campaign of air strikes against Yemen's Houthi rebels. Riyadh announced late on Tuesday that it was ending a month-long offensive against the Houthis, who seized large areas of Yemen, and said it would back a political solution to bring peace to its war-ravaged neighbour. The Yemen fighting was never ...
Saudi Arabia slips on Mobily, property stocks lift Dubai DUBAI: Saudi Arabia's stock market pulled back further on Tuesday after telecommunications operator Mobily posted a surprise first-quarter loss, while Kuwait fell on news of potential tax reform. Other Gulf markets were positive. The main Saudi index slipped 0.3 percent to 9,559 points as Mobily was the main drag, tumbling 6.8 percent. The firm, whose scandal over the restatement of its 2014 earnings led to the departure of its chief executive earlier this year, missed ...


Index Closing Chg%
Arrow DJIA 16,643.01 0.07
Arrow Nasdaq 4,828.32 0.32
Arrow S&P 1,988.87 0.06
Arrow FTSE 6,247.94 0.90
Arrow DAX 10,298.53 0.17
Arrow CAC-40 4,675.13 0.36
Arrow Nikkei 19,136.32 3.03
Arrow H.Seng 21,612.39 1.04
Arrow Sensex 26,392.38 0.61

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln