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Middle East & Africa


South Africa bond yields at 1 month highs, rand drags prices        JOHANNESBURG: The rand fell against the dollar on Tuesday, reflecting weakness in emerging market currencies as investors fret about the euro zone debt crisis and global growth, driving government bond yields to one-month highs even after a strong debt auction. The short to medium term outlook for the currency and bonds was seen as positive, however, as carry trades are expected to support the high-yielding rand while March bond coupon payments should find their way back to cushion the debt market. The government benchmark 2015 bond yield added 3 basis points to 6.71 percent while the 2026 yield climbed 2.5 basis points to 8.315 percent, levels last seen towards the end of January. "Euro weakness and subsequent rand weakness has pushed yields to three-week highs, (however) March is a big coupon month which should support in the weeks ahead," said Steve Arnold, a bond trader at Investec Bank. Yields on government bonds sold at ...

Egypt sells 1bn Egyptian pounds of 7-year bonds           CAIRO: Egypt's central bank sold 1 billion Egyptian pounds ($165.8 million) in reopened seven-year bonds at an auction on Monday, the same amount it had originally sought, the bank said. The yields on the bonds ranged from 16.80 to 16.93 percent. The bonds mature on Oct. 25, 2018, and carry a 14.5 percent coupon. Settlement will take place on March 6. Copyright Reuters, 2012 ...
Mauritius 364-day T-bill yield slips to 4.43pc        PORT LOUIS: Mauritius sold 300 million rupees ($10.3 million) worth of 364-day Treasury bills at auction on Monday at a weighted yield of 4.43 percent, down from the 4.46 percent at a previous sale on Feb. 27, the central bank said. The bank said it received bids worth 630 million rupees at yields ranging from 5.05 percent to 4.35 percent. Copyright Reuters, 2012 ...
South Africa bonds extend losses, market doubt budget targets        JOHANNESBURG: South African government bonds extended losses on Thursday as the market doubted that Finance Minister Pravin Gordhan's narrower budget deficit forecasts were achievable. The rand was slightly firmer but has been trapped in ranges, lacking momentum to move outside familiar levels. The National Treasury on Wednesday tabled a narrower than expected budget deficit of 4.6 percent of gross domestic product in the financial year ending March 2013 from a 4.8 percent shortfall in 2011/12. Bonds initially gained ...
JEDDAH: Saudi Arabia's Almarai Co, the Gulf's biggest dairy firm by market value, plans to start a road show this week to issue a riyal denominated sukuk, or Islamic bond, the firm said in a bourse statement on Saturday. "Subject to market conditions, Almarai will hold several meetings this week with interested investors," the firm said in the statement. Almarai has mandated HSBC to act as arranger, the statement added. Last year, Almarai got shareholder approval for an ...
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 ...
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 ...


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 6,729.17 0.03
Arrow DAX 9,915.56 0.55
Arrow CAC-40 4,373.42 0.20
Arrow Nikkei 17,383.58 0.14
Arrow H.Seng 24,111.98 1.12
Arrow Sensex 28,386.19 0.17

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