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Middle East & Africa

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Egypt rebounds, Saudi Arabia flat DUBAI: Egypt's stock market rebounded on Monday after bullish comments from government officials and executives and signs that the planned parliamentary election will go ahead soon, despite a court ruling that called its timing into question. Saudi Arabia's bourse was nearly flat.The main Cairo index climbed 1.4 percent, largely because of investment bank EFG Hermes, which surged 5.6 percent.Chief executive Karim Awad said on Sunday that EFG Hermes was studying investments in renewable energy and hoped to start a leasing business in its home country within months. He also said the firm wanted to expand its operations, which include brokerage, asset management and advisory services, in the Gulf region.Meanwhile, Egypt's Investment Minister Ashraf Salman said on Monday that the country expected to attract $8 billion of foreign direct investment in the current fiscal year through June, up from $4 billion last year.He also said authorities had started to devalue the ...

Gulf markets mixed, Egypt falls after election setback DUBAI: Gulf stock markets were mixed on Sunday as trading volumes remained low, while Egypt fell after a court ruling that was likely to delay the parliamentary election previously scheduled to begin this month.Saudi Arabia's main index climbed 0.4 percent after oil prices rose on Friday and posted their first monthly rise since June, although the kingdom's petrochemicals sector gained just 0.1 percent on Sunday.Al Tayyar Travel Group was one of the main supports, jumping ...
Gulf markets mixed in thin trade DUBAI: Gulf stock markets were narrowly mixed in slow early trade on Sunday as Oman's bourse reported a technical glitch and Qatar was closed for a bank holiday. Dubai's index slipped 0.2 percent, largely because of lender Emirates NBD, which fell 2.2 percent. Builder Arabtec Holding edged down 0.6 percent after rising 1.9 percent in the previous session.Index compiler MSCI increased the stock's weighting in its emerging markets index and passive funds apparently adjusted their ...
Kenyan shares lifted by KenGen, shilling steady NAIROBI: Kenya's benchmark index rose on Friday, driven by a rally in the shares of the country's main power producer KenGen a day after it reported first-half pretax profit had more than doubled.The shilling was stable.KenGen, which is 70 percent state-owned, said its profit was buoyed by higher electricity sales and also predicted significant full-year growth.Its share price leapt 14 percent to 12.05 shillings."KenGen, that was actually a huge jump," said Agnes Achieng, a research ...
South African stocks up, British American Tobacco at record high JOHANNESBURG: South African stocks edged up on Thursday led by Gold Fields which rose along with bullion prices, while British American Tobacco scaled new highs after reporting higher full-year earnings.British American Tobacco, which has a primary listing in London, slightly beat market expectation for 2014 sales despite a shrinking industry. Its Johannesburg listed shares closed at a record high of 672.36 rand, up 2.17 percent.Gold Fields rose 4.85 percent as the spot price climbed on ...
Gulf markets slip, Egypt falls on Q4 results, politics DUBAI: Most major Gulf stock markets slipped on Thursday despite stronger oil prices, as low trading volumes indicated retail investors remained cautious. Brent crude surged 5 percent on Wednesday, after Saudi Arabia's oil minister said oil demand was growing and data showed Chinese factories were producing more than expected.That was positive news for the Saudi stock market, but its main index inched down 0.1 percent as trading volume remained modest and shares of telecommunications operator ...
Saudi telecom suspended over 'loss': market regulator RIYADH: Saudi Arabia's stock market regulator on Wednesday suspended trading in one of the country's major telecommunication firms, Etihad Etisalat, after the company reported losses of $243 million last year.The firm, known as Mobily, is a unit of United Arab Emirates giant Etisalat.The suspension will run "until Mobily discusses the reasons that led to a net loss amounting to 913 million riyals", after having earlier reported a preliminary net profit of 220 million riyals for ...

 



 
Index Closing Chg%
Arrow DJIA 18,096.90 0.58
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln