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Middle East & Africa

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Bunds fall as equities rise, Italian sale eyed  LONDON: German Bund futures dipped on Thursday as global equities rose overnight, with investors looking to Italy's last funding hurdle of 2012 to gauge whether a recent rally in higher-yielding bonds would continue.   The treasury is seeking to place up to 6 billion euros of five- and 10-year bonds at an auction that could bring Rome within reach of its 460-465 billion euros ($594-$600 billion)2012 borrowing target.   Italian bond prices did not cheapen in the run-up to the auction this week but improved sentiment towards riskier euro zone debt after a deal on the next tranche of Greek aid should provide a favorable backdrop to the sale. Italy paid less than 1 percent on Wednesday to sell six-month bills - its lowest in more than two years.   "It might be an average auction because there is a bit of a lack of concession but then I think it probably trades okay afterwards given ...

South Africa JOHANNESBURG: Yields on benchmark South African government bonds dropped 2.5 basis points, reflecting a recovery in the local market as offshore buying supported prices on Friday.   The yield on the 2015 bond fell to 5.47 percent while the 2026 issue dropped to 7.74 percent.   "There was a bit of late afternoon buying, particularly in the long end, which had taken a bit of knock. We saw real money buying early in the week and it looks like ...
South Korea won edges down on US fiscal cliff, Greece; bonds up  SEOUL: The South Korean won fell slightly against the dollar on Tuesday on global uncertainties over the US fiscal row and a decision by euro-zone finance ministers not to hand out more aid to Greece.   The local currency ended onshore trade at 1,089.9 against the dollar, slightly down from Monday's domestic close at 1,088.6. The won is still up around 6 percent against the dollar this year.   Trading throughout the day was thin, however, due to markets ...
US bonds underpinned one day before close elections LONDON: US Treasuries rose on Monday as investors sought safety in lower-risk markets one day before uncertain presidential elections and as Greek worries returned to the forefront of investors' minds.   US 10-year government bond yields fell 2.3 basis points to 1.69 percent but remained well within the 1.5-1.9 percent range which has held since September.   Investors have been reluctant in recent weeks to put on big positions before the vote on Tuesday, with the race between President ...
Cameroon cocoa exports drop 7.7pc in September  YAOUNDE: Cameroon cocoa exports hit 25,490 tonnes in September, the second month of the 2012/13 harvest season, down more than 7 percent from the same month last season, National Cocoa and Coffee Board (NCCB) statistics showed on Friday.   The data, confirmed by the world's fifth largest cocoa grower's Cocoa and Coffee Interprofessional Board (CCIB), showed that exports fell by 7.7 percent compared with the 27,636 tonnes for the same month the previous season.   Month on month, exports ...
South Africa bonds, rand firm ahead of medium-term budget  JOHANNESBURG: South African government bonds rose on Thursday after higher-than-expected inflation data in the previous session with trading expected to be thin ahead of the Treasury's release of the medium-term budget later in the day.   The yield on the benchmark 3-year bond and the longer dated 14 year paper were both 2 basis points lower at 5.44 and 7.685 percent respectively.   By 0651 GMT, the rand was trading at 8.73 to the dollar, 0.6 percent firmer than ...
Morocco delays $1bn sovereign bond sale: minister  RABAT: Morocco has delayed its maiden dollar bond sale to end-November pending market stability, the budget minister said in published remarks on Wednesday, but banks have already been mandated for an issue that may exceed the initial $1 billion mark.   The delay's announcement, carried by L'Economiste newspaper, comes amid speculation King Mohammed would soon make a rare official tour of the Gulf Arab region from where Rabat hopes to raise a substantial share of the issue.   Initially ...

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln