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Middle East & Africa


South Africa's rand tumbles to 12 year lows on domestic pressures JOHANNESBURG: South Africa's rand collapsed on Wednesday to 12-year lows after long-standing economic frailties and more immediate socio political pressures turned sentiment against the unit. By 1540 GMT the rand led a broad emerging market meltdown against the dollar, shedding 1.8 percent to 11.8925 per dollar , its weakest level against the greenback since March 2002 according to Thomson Reuters data. The rand initially skidded to a six-and-a-half year low of 11.8200 after power-supplier Eskom announced a 10th straight day of electricity outages, but then the currency kept falling. The unit also fell sharply against other major currencies, shedding 1.5 percent against the euro and falling 1.7 percent versus the pound sterling. Global risk sentiment was rattled on Wednesday, sending emerging currencies lower, as a meeting of euro zone finance ministers in Brussels showed little sign of reaching agreement on terms of Greece's bailout. "EM currencies have been on the ...

South African rand tumbles to 12-year low in emerging market meltdown JOHANNESBURG: South Africa's rand led a broad emerging market meltdown against the dollar on Wednesday, collapsing to 12-year lows on long-standing economic frailties and more immediate socio political pressures turned sentiment against the unit.By 1540 GMT the rand had shed 1.8 percent to 11.8925 per dollar, its weakest level against the greenback since March 2002 according to Thomson Reuters data.Copyright Reuters, 2015 ...
South Africa's rand, bonds steady; eye on Greek debt crisis JOHANNESBURG: South Africa's rand was steady against the dollar on Wednesday with the market nervous about the outcome of the euro zone meetings on the Greek debt crisis.At 0634 GMT the rand was trading at 11.6870, not far off from its Tuesday closing level on 11.6820."For today with very little in the way of macro data, the market will be holding its breath for some resolution in the EU/Greek meeting," said chief trader at Standard ...
Ugandan shilling weakens on dollar buying by banks, corporates KAMPALA: The Ugandan shilling weakened on Wednesday on dollar demand from banks hedging against the globally strong U.S. currency, as well as the manufacturing and energy sectors.At 0824 GMT commercial banks quoted the shilling at 2,865/2,875, weaker than Tuesday's close of 2,855/2,865."The global strength of the dollar has triggered a scramble for covering of short positions by some banks," said Ahmed Kalule, trader at Bank of Africa."There's also demand from corporates in the energy and ...
Egyptian pound steady for sixth straight dollar sale CAIRO: Egypt sold dollars at 7.53 pounds per dollar on Wednesday for the sixth central bank auction in a row and the pound was also steady on the black market.The bank has let the official exchange rate weaken since Jan. 18 in an effort to wipe out black market trading, alongside government efforts to bolster the economy and burnish Egypt's image ahead of a major investment conference next month.The central bank said it offered $40 ...
South Africa's rand firmer ahead of unemployment and output data JOHANNESBURG: South Africa's rand edged slightly firmer early on Tuesday as domestic fundamentals came into focus with the release of unemployment and manufacturing data set to stoke the currency's recent weakness.At 0615 the rand was 0.09 firmer at 11.5800 per dollar , hovering near a four-day high above 11.6000 as local and off-shore uncertainty swirled ahead of the jobs and production numbers, both expected to show economic growth continues to stutter.A Reuters poll of economists ...
Nigeria naira quoted at record low of 198.95 to dollar LAGOS: The naira hit a new record low on Tuesday on thin dollar liquidity, amid concerns over political stability after a six-week delay to Nigeria's presidential election.The naira was quoted at a record low of 197.3 to dollar by market open and quickly fell to 198.95 by 0822 GMT, Thomson Reuters data showed.Nigeria's electoral commission said late of Saturday it would postpone the Feb. 14 presidential election until March 28 due to security concerns.Copyright Reuters, ...


Index Closing Chg%
Arrow DJIA 18,214.42 0.06
Arrow Nasdaq 4,987.89 0.42
Arrow S&P 2,110.74 0.15
Arrow FTSE 6,949.73 0.21
Arrow DAX 11,327.19 1.04
Arrow CAC-40 4,910.62 0.58
Arrow Nikkei 18,785.79 1.08
Arrow H.Seng 24,902.06 0.50
Arrow Sensex 28,746.65 0.90

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln