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Middle East & Africa


South Africa's rand firms vs dollar with higher commodity prices JOHANNESBURG: South Africa's rand gained against the dollar early on Monday as resource-heavy currencies were supported by higher commodity prices and global monetary stimulus was expected to support inflows to emerging market bonds.Dealers expect that the European Central Bank (ECB) will cut interest rates later this week, driving investors to higher yielding emerging markets such as South Africa."Monetary policy accommodation beyond our borders benefits the rand mainly via the support it offers to the global reach for yield play, and thereby to flows to peripheral bond markets, including the South African bond market," said Bruce Donald of Standard Bank in a client note.At 0650 GMT, the rand was at 9.07 to the dollar, 0.36 percent firmer than its previous close in New York on Friday.The South African currency is likely to firm towards the key 9 rand psychological level, hitting resistance at around 9.05, one technical analyst said.Risks to the ...

South African bonds supported, rand weakens on softer euro JOHANNESBURG: The yield spread on South African benchmark 2026 and 2015 bonds narrowed to its lowest in a year on Thursday, as lower-than-expected inflation data gave support to longer-dated bonds.Data on Wednesday showed CPI was unchanged at 5.9 percent year-on-year in March, undershooting market expectations for price growth to hit the upper end of the central bank's 3 to 6 percent target.The yield on the 2026 dropped to a record low of 6.87 percent, giving ...
Yields on Egypt T-bills climb at Thursday's auction CAIRO: The average yield on Egyptian 182 and 357 day treasury bills rose sharply in an auction on Thursday, figures released by the central bank showed, following an interest rate hike last week.The average yield on 182-day T-bills for April 2 issue rose to 13.813 percent from 13.031 percent at the previous issue on March 26.The yield on 357-day T-bills also for April 2 issue rose to 14.463 percent from 13.776 percent in the previous ...
Ghana to issue 400mn cedi 3-year bond on March 7 DAKAR: Ghana will issue a 400 million cedi ($210 million) three-year government bond on March 7 to service maturing debts, the West African nation's central bank said on Tuesday.   The bank said in a statement that the funds generated from the auction would be used for "government budget support and to rollover maturing debt."   It said settlement will take place on March 11.   Copyright Reuters, 2013 ...
Dubai DUBAI: Emirates airline, Dubai's flagship carrier, launched a $750 million 12-year amortising bond on Thursday, with final pricing due later in the day, arranging banks said.   The bond, which matures in 2025, and carries an average life of seven years, launched at 300 basis points over seven-year midswaps, at the wider end of guidance released on Wednesday.   Citibank, Deutsche Bank, Emirates NBD , JPMorgan Chase, Morgan Stanley and Standard Chartered PLC are lead arrangers on the issue. ...
Nigeria to sell 826.31bn naira in T-bills in Q1 LAGOS: Nigeria plans to raise about 826.31 billion naira ($5.26 billion) worth in treasury bills ranging between three months and one year in the first quarter of the year, the central bank said on Friday.   It plans to auction 331.29 billion naira in 91-day, 182-day and 364-day paper in January, 354.93 billion naira in the same range of bills in February and 140.09 billion of same range in March at its twice-monthly auction.   Offshore investors' interest in ...
Nigeria to sell 165bn naira worth of T-bills LAGOS: Nigeria plans to sell 164.88 billion naira ($1.05 billion) worth of treasury bills with maturities ranging from three months to one year on Jan 24, at its twice-monthly auction, the central bank said on Wednesday.   The bank said it will auction 34.88 billion naira in 91-day bills, 50 billion naira in 182-day notes and 80 billion naira in 364-day paper, using Dutch auction system.   Nigeria, Africa's top energy producer, issues treasury bills regularly as part of ...


Index Closing Chg%
Arrow DJIA 18,024.06 1.03
Arrow Nasdaq 5,005.39 1.29
Arrow S&P 2,108.29 1.09
Arrow FTSE 6,985.95 0.36
Arrow DAX 11,454.38 0.19
Arrow CAC-40 5,046.49 0.14
Arrow Nikkei 19,531.63 0.06
Arrow H.Seng 28,133.00 0.94
Arrow Sensex 27,011.31 0.79

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 30, 2015
Reserves $17.717 bln