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Middle East & Africa


Egypt, Saudi slide; funds start buying in UAE, Qatar DUBAI: Stock markets in Saudi Arabia and Egypt fell in early trade on Tuesday while funds tracking MSCI's emerging markets index started buying several stocks in the United Arab Emirates and Qatar ahead of scheduled adjustments to the benchmark. Saudi Arabia's index fell 1.2 percent, with most stocks in the red. Saudi Basic Industries lost 1.2 percent, while food maker Savola Group and Al Rajhi Bank were down 2.9 and 1.1 percent respectively. Egypt's bourse slid 1.1 percent as Commercial International Bank fell 1.4 percent and most other stocks also declined. Meanwhile, bourses in the UAE and Qatar began recouping early-session losses as stocks whose weightings in MSCI's emerging markets index are set to increase topped trading volumes. Emaar Properties was up 1.3 percent and Dubai Islamic Bank edged up 0.3 percent. Qatar National Bank climbed 2.2 percent and Industries Qatar gained 1.6 percent. The weightings of those stocks, and ...

Markets edge down as global rally subsides DUBAI: Stock markets in Saudi Arabia and Egypt edged down in early trade on Monday and bourses in the United Arab Emirates and Qatar also gave up gains as the rally in global equities appeared to be subsiding. Saudi Arabia's main index fell 0.3 percent amid a mixed performance by blue chips. Petrochemicals giant Saudi Basic Industries gained 0.6 percent, while National Commercial Bank, the kingdom's biggest lender, edged down 0.4 percent. Egypt's bourse lost ...
Steady oil, global shares may support region DUBAI: Middle East stock markets may rise further on Monday as oil prices hold above $80 per barrel and Asian markets are up on hopes for stimulus in China and Europe.Most markets in the region rose on Sunday in line with end-of-week gains in global equities, which rallied after China made a surprise interest rate cut and the European Central Bank indicated it would step up asset purchases.Expectations of fresh foreign fund inflows may also ...
Most markets rise, Qatar slips on profit-taking DUBAI: Stock markets in the United Arab Emirates, Kuwait and Oman rose in early trade on Sunday, following a positive global lead, while profit-taking continued in Qatar.Dubai's index gained 1.0 percent as most stocks rose. Emaar Properties, up 1.8 percent, was the main support.Abu Dhabi's index edged up 0.4 percent on the back of Aldar Properties' 2.2 percent gain.Bourses in Kuwait and Oman added 0.2 and 0.3 percent respectively.Brent crude rose above $80 per barrel ...
SABIC heads Saudi rally as oil price rise supports DUBAI: Saudi Arabia's bourse rose in early trade on Sunday as most stocks gained after oil prices edged up and global equities rallied on Friday.The main Saudi index added 1.0 percent as shares in petrochemicals giant Saudi Basic Industries (SABIC) rose 1.4 percent.Brent crude climbed back above $80 per barrel and global stock markets also edged up on Friday after China made a surprise interest rate cut and the European Central Bank indicated it would ...
Mideast markets edge up as investors hunt for bargains DUBAI: Most stock markets in the Middle East edged up on Thursday as oil prices paused in their decline ahead of next week's OPEC summit and stocks that usually see little trading took centre stage on several bourses.Dubai's index rose 0.3 percent, largely on the back of telecommunications operator du, which jumped 3.6 percent to 5.49 dirhams in its highest trading volume for more than six months.Equity research house AlphaMena highlighted the stock in a ...
Petchems lift Saudi Arabia, Egypt up DUBAI: Saudi Arabia's stock index edged up in early trade on Thursday after oil prices appeared to stabilise, while Egypt's bourse continued to recover from a bout of profit-taking.The main Saudi index rose 0.2 percent. Shares in petrochemicals giant Saudi Basic Industries (SABIC) added 0.4 percent and most other stocks were also in the black.The market came under pressure earlier this week as oil prices extended losses, prompting concerns that the government may start cutting ...


Index Closing Chg%
Arrow DJIA 17,827.75 0.07
Arrow Nasdaq 4,787.32 0.61
Arrow S&P 2,072.83 0.28
Arrow FTSE 6,723.42 0.09
Arrow DAX 9,974.87 0.60
Arrow CAC-40 4,382.34 0.20
Arrow Nikkei 17,248.50 0.78
Arrow H.Seng 24,004.28 0.45
Arrow Sensex 28,438.91 0.19

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