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South African rand weaker, bonds trim losses after auction  JOHANNESBURG: South African government bonds and the rand weakened on Tuesday as rising global risk appetite dented demand for riskier emerging market assets, but bonds later recovered some losses after a strong debt auction. The rand was last trading at 7.7550 to the dollar, one percent weaker than Monday's New York close of 7.6785. It hit a session low of 7.7617. "There's some good demand for dollars towards 7.70 with daily resistance in the 7.75/78 area," said a local dealer, adding that while the rand could fall to 7.80, those levels would attract exporter dollar sales and cap sharper losses on the rand. In the absence of market moving data locally, the rand took direction from abroad, with news that Moody's could cut the credit ratings of France and Austria, after it downgraded six other European nations, weighing on sentiment. Euro zone finance ministers are expected to approve a new bailout deal for ...

Bunds rally after Moody LONDON: German government bonds rose at Tuesday's open after rating agency Moody's cut Italy and Spain among others and warned it may do the same to France, the UK and Austria The move curtailed a modest rally in risk assets seen after Greece's parliament approved reforms needed to qualify for a bailout and avoid an unruly default and may weigh on the euro zone's lower-rated bonds. Moody's late on Monday cut by one notch the ratings of ...
Telecom giant Zain 2011 profit slides 73pc KUWAIT CITY: Kuwaiti telecom giant Zain net profit dived 73 percent last year mainly because the 2010 profit included a huge capital gain from the sale of its African assets, a statement said Tuesday. Zain's net profit in 2011 was 285 million dinars ($1.03 billion) compared to 1.06 billion dinars ($3.82 billion) the previous year, according to a statement posted on the Kuwait Stock Exchange website. The 2010 net profit however included 770 million dinars ($2.78 billion) ...
Yield rises at Egypt 266-day T-bill auction CAIRO: The yield on Egyptian treasury bills rose at an auction on Sunday, and the central bank sold the entire 3.5 billion Egyptian pounds ($549.5 million) worth it had asked for, the Finance Ministry said. The average yield on the 266-day treasury bills rose to 15.923 percent from 15.802 percent at the last issue on January 24. The central bank sells the bills on behalf of the Finance Ministry. Copyright Reuters, 2012a ...
Saudi Mobily signs $2.7bn loan refinancing DUBAI: Saudi Arabia's Etihad Etisalat (Mobily) signed a 10 billion riyals ($2.67 billion) sharia-compliant loan refinancing with a group of seven local banks, the telco said on Sunday, taking advantage of favourable borrowing rates in the kingdom. Mobily, Saudi Arabia's second-largest telecoms operator by market capitalisation, rolled three existing facilities into a new, four-tranche Islamic loan with tenors of between five and seven years, the statement said. Mobily said it undertook the refinancing now, rather than in ...
South African bonds fall ahead of weekly auction           JOHANNESBURG: South African sovereign bonds weakened against the dollar on Tuesday before a weekly auction at which the government is taking the unusual step of issuing three bonds, mostly from the long end of the curve. The weakness comes despite Treasury data showing a narrower fiscal deficit in the first nine months of the 2011/12 financial year compared to the previous year. Investors expect South Africa's budget to be under pressure over the next few years as ...
Yield at Egypt T-bill auction rises, size reduced CAIRO: Egypt's central bank cut back on the amount of 273-day treasury bills it was prepared to sell at an auction on Sunday after the yields that potential buyers were demanding increased. The average yield on the bills that the central bank sold rose to 15.822 percent from 15.645 percent at the last issue on January 17, it said. It sold bills worth 1.452 billion Egyptian pounds ($240.7 million) instead of the 4 billion pounds it ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln