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Middle East & Africa


South Africa's rand halts slide after factory output disappoints JOHANNESBURG: South Africa's rand sunk to a session low against the dollar on Thursday after the dollar strengthened and April factory output unexpectedly contracted before paring losses.At 1510 GMT the rand had weakened 0.33 percent to 12.3800 , pulling back from a sharp fall to 12.4900 after manufacturing contracted 2 percent y/y in April. The dollar index, a measure of the greenback against major currencies, rose over half a percent as the unit was buoyed by a surge in US retail sales. A Reuters poll had predicted factory output would expand 1.4 percent, the surprise decline temporarily pushing the rand toward the 12.50 in a session traders said lacked clear drivers. "It's not so much to do with the manufacturing numbers, its the stronger US dollar that's causing rand weakness," said trader Marten Banninga of World Wide Capital Securities. Government bonds were range bound, firming slightly on the day by ...

South Africa's rand softer, could fall further on mine, factory data JOHANNESBURG: South Africa's rand traded softer against the dollar early on Thursday, with scope to extend losses should domestic mining and factory output data come out weaker than expected.At 0647 GMT, the local unit was trading down 0.35 percent at 12.3400 per greenback, compared with Wednesday's New York close at 12.3115.Government bonds were mostly flat, with the benchmark 2026 paper yielding half a basis point higher at 8.38 percent.Traders and analysts said mining production numbers ...
Kenyan shilling little changed ahead of budget reading NAIROBI: Kenya's shilling held steady against the dollar on Thursday ahead of a budget reading by the finance minister in parliament later in the day.At 0740 GMT, the shilling was trading at 97.05/15 to the dollar, barely changed from Wednesday's close of 97.10/20.Henry Rotich is expected to announce fresh measures to shore up growth in east Africa's biggest economy and expand the tax base to boost revenue collection. The IMF last week trimmed Kenya's growth ...
South African rand weaker as investors dump risky assets JOHANNESBURG: South Africa's rand fell more than 1 percent against the dollar on Monday, tracking a retreat in emerging market assets after renewed concerns about Greece's financial woes whittled investors' appetite for risk.The rand also weakened in line with other commodity currencies hit by worries about the growth prospects for China, a major consumer of South African minerals.At 1534 GMT the rand traded at 12.2625 versus the greenback, 0.93 percent lower compared with Friday's closing ...
Ugandan shilling weaker as dollar demand from firms weighs KAMPALA: The Ugandan shilling weakened on Monday, hurt by strong appetite for hard currency from firms in the telecoms and energy sectors and the local currency was expected to maintain a bearish bias this week.At 0843 GMT commercial banks quoted shilling at 3,065/3,075, weaker than Friday's close of 3,052/3,062.The shilling is 9.6 percent weaker against the dollar so far this year, with the latest wave of depreciation pushing it ever closer to its all-time record ...
Kenyan shilling steady, main share index down NAIROBI: The Kenyan shilling was steady on Friday, supported by the previous day's intervention by the central bank which sold dollars into the market after the local currency weakened.The benchmark NSE-20 share index finished lower while the all share index notched some gains for a second straight day.At the close of trade, commercial banks quoted the shilling at 97.45/55 to the dollar versus 97.50/70 at Thursday's close.The shilling lifted from an intra-day low of 98.95/99.05 ...
South Africa's rand under pressure as trade deficit widens JOHANNESBURG: South Africa's rand weakened for the second straight day against the dollar on Friday, hitting a session trough after data from the revenue service showed a trade deficit for April, the latest sign of a struggling economy. The local unit was within easy reach of five-week lows hit this week after Statistics South Africa said GDP growth expanded by only 1.3 percent in the first quarter while the jobless rate worsened. The rand fell ...


Index Closing Chg%
Arrow DJIA 17,619.51 0.13
Arrow Nasdaq 4,986.87 0.57
Arrow S&P 2,063.11 0.27
Arrow FTSE 6,520.98 1.50
Arrow DAX 10,944.97 1.25
Arrow CAC-40 4,790.20 1.63
Arrow Nikkei 20,235.73 0.63
Arrow H.Seng 26,250.03 1.09
Arrow Sensex 27,780.83 0.49

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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 $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJune 25, 2015
Reserves $17.457 bln