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Middle East & Africa

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Mideast Markets decline further as global gloom persists DUBAI: Most stock markets in the Middle East continued to decline on Wednesday as global equities remained under pressure and disappointing quarterly earnings and forecasts weighed on bourses in Oman and Kuwait.While selling of Gulf stocks in previous days was fairly indiscriminate, many oil-related shares suffered most on Wednesday as the price of Brent crude slipped to a fresh 47-month low, before recovering slightly to around $84 a barrel.Lower oil prices are not a disaster for Gulf economies, which have little debt and large fiscal reserves that they can use to maintain government spending.But the prospect of smaller state oil revenues is having some impact on investor sentiment in the region, and pulling down stocks such as petrochemical producers - which benefit from a cost advantage over foreign rivals when global oil prices are high - and companies serving the drilling industry.Dubai's index edged up in early trade after U.S. ...

Dubai, Saudi Arabia stocks lead rebound as panic eases; strong Q3 earnings DUBAI: Most major stock markets in the Middle East rebounded on Monday, led by bourses in Dubai and Saudi Arabia, as global equities stabilised and several companies in the region reported strong quarterly earnings.On Sunday, some regional bourses had posted their biggest losses in years as global markets' decline at the end of last week, and sliding oil prices, triggered broad profit-taking. The main indexes in Dubai and Saudi Arabia plunged 6.5 percent.But although Dubai ...
UAE markets' decline slows; Shuaa up on strong Q3 DUBAI: Stock markets in the United Arab Emirates continued to decline in early trade on Monday but at a much slower pace than on Sunday, while Dubai's Shuaa Capital jumped after posting strong third-quarter results.Dubai's main index, which plunged 6.5 percent on Sunday, fell 1.3 percent shortly after the opening on Monday as most stocks were in the red.Emaar Properties, the emirate's largest listed developer, dominated trading volume and fell 1.9 percent. But shares in ...
Sell-off may continue as global stocks, oil remain weak DUBAI: Stock markets in the Middle East may remain under pressure on Monday after many bourses closed near their daily lows on Sunday and some stocks tumbled their daily limits, reacting to declines in global equities.Another negative factor is indications that Saudi Arabia, the world's largest oil exporter, is setting aside its longstanding de facto strategy of holding prices at around $100 a barrel for Brent crude in favor of retaining market share in years ...
South Africa stocks slide as resources hammered, tech rebound seen JOHANNESBURG: South African stocks slid on Friday in line with equities markets elsewhere as investors fretted about the prospect of a global economic slowdown, but analysts said Johannesburg could rally next week on technical factors. Dim global growth prospects mean a grim outlook for commodity prices with the likes of petrochemicals giant Sasol falling 3.9 percent and Impala Platinum shedding 4.9 percent in a broad-based resource sell off. Among blue chips, Africa's top bullion producer ...
Dubai rebounds in line with global markets DUBAI: Bourses in the United Arab Emirates edged up in early trade on Thursday in line with global markets, but Abu Dhabi then pulled back on low trading volume. Dubai's index added 0.4 percent. Emaar Properties , also up 0.4 percent, was the main support. Abu Dhabi's benchmark slipped 0.1 percent after gaining 0.3 percent earlier in the session. Volumes remained low on both exchanges as many retail investors have yet to return to the ...
Markets may rebound in line with global lead DUBAI: Bourses in the Middle East may rebound in line with global markets on Thursday after mirroring the slide in Western and Asian stocks on Wednesday, but trading volumes look likely to stay low.Markets across the region fell on Wednesday as global markets came under pressure from worries about global growth.The run on Middle Eastern stocks was amplified by the fact that many retail investors are taking the whole week off for Eid al-Adha holidays. ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln