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Middle East & Africa


Nigerian stocks climb to 3-week high on possible Buhari win LAGOS: Nigerian stocks extended their gains on Tuesday, rising almost 1 percent in early trade to a 3-week high as investors reacted positively to a possible win for the opposition party in Saturday's closely fought presidential election.Opposition contender Muhammadu Buhari held a sizeable lead as counting in the country's election resumed on Tuesday, raising the prospect of a ballot box victory for a man who first came to power three decades ago via a military coup.Stocks gained for the eighth consecutive session, with the banking index leading the charge.The index of Nigeria's top 10 lenders rose 1.8 percent, partly lifted by positive earnings from some banks."With projections that Buhari may eventually be announced president-elect, it sends a positive signal to the markets that there would be a change to the way things have been done in the past," Ayodeji Ebo, head of research at Afrinvest said, referring to Nigeria's opposition ...

South African stocks rise, led by miners BHP, Anglo American JOHANNESBURG: South African stocks advanced on Monday with strong gains in the resource sector, spurred by mining giants BHP Billiton and Anglo AmericanShares in Anglo American rose 2.78 percent to 190.74 and BHP Billiton closed 2.04 percent higher at 272.54 rand, buoyed by hopes that a stimulus to China's economy could translate to a greater appetite for emerging market commodities.Chinese stocks surged to seven-year highs, helped by Beijing's unveiling of an ambitious plan to build ...
Gulf markets diverge on mixed news, dividends DUBAI: Middle East stock markets were mixed by midday on Monday, driven by weaker oil and company-specific news as well as stocks going ex-dividend.Oil prices extended losses from the previous session as Iran and six world powers tried to reach a deal that could add oil to the market if sanctions against Tehran are lifted. The two sides aim to reach a preliminary agreement by Tuesday.The main Saudi index slipped 0.2 percent as petrochemicals giant ...
Gulf markets rebound from sell-offs over Yemen DUBAI: Most Middle East stock markets rose on Sunday after brief sell-offs at the end of last week triggered by the escalation of military conflict in Yemen.Saudi Arabia and its allies, including other Gulf nations and Egypt, have launched air strikes against the Houthi militia and have not ruled out the use of ground forces.The intervention in Yemen may be protracted; a Gulf diplomatic official told Reuters on Saturday that while the Arab alliance initially ...
Saudi Arabia, Egypt stocks rebound after sell-offs on Yemen DUBAI: Stock markets in Saudi Arabia and Egypt rose in early trade on Sunday as panic over the military conflict in Yemen, which prompted sell-offs last week, subsided.The intervention in Yemen may be protracted; a Gulf diplomatic official told Reuters on Saturday that while the Arab alliance initially plans a month-long campaign, the operation could last five or six months.But while the start of the operation triggered profit-taking by retail investors last week, many analysts ...
Qatar's bourse says plans rights issue trading DUBAI: Qatar's stock exchange plans to allow investors to trade rights to share issues, which would let them profit from capital increases even without subscribing to them, the bourse said on Sunday.Rights allow their holder to subscribe to a share issue, usually at a fixed price that may be lower than the market price. To exercise rights, investors need to commit more money - but if rights are tradable, investors can simply sell them.The bourse ...
Nigerian shares rise as local investors bet on smooth election LAGOS: Nigerian stocks climbed for the sixth straight session on Friday, as domestic investors snapped up shares betting a presidential election due on Saturday would go smoothly. Frontrunners President Goodluck Jonathan and former military ruler Muhammadu Buhari are facing off in a contest many think is too close to call. Africa's biggest economy delayed the vote by six-weeks to March 28, citing security concerns, sending financial markets into a tailspin. The naira fell through a ...


Index Closing Chg%
Arrow DJIA 18,232.02 0.29
Arrow Nasdaq 5,089.36 0.03
Arrow S&P 2,126.06 0.22
Arrow FTSE 7,031.72 0.05
Arrow DAX 11,815.01 0.42
Arrow CAC-40 5,117.17 0.50
Arrow Nikkei 20,413.77 0.74
Arrow H.Seng 27,992.83 1.70
Arrow Sensex 27,643.88 1.12

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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
WeeklyMay 21, 2015
Reserves $17.75 bln