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Middle East & Africa


South Africa's rand recovers as US trade deficit dampens dollar JOHANNESBURG: South Africa's rand firmed on Tuesday after a mixed batch of U.S. economic data stoked uncertainty about the pace of interest rate increases in the United States, denting the dollar and giving emerging markets a modest reprieve.At 1526 GMT the rand had gained 0.38 percent to 12.018 per dollar, recovering from a slide towards its worst level in two weeks in the previous session as local economic data sapped appetite for the currency.New vehicle sales for April fell 3.3 percent to their lowest in over 10 months on Monday, while power utility Eskom continued to cut electricity from the national grid as it battles to meet demand."The underlying bias is still higher, which favours a move towards firm resistance at 12.2000/2200 but momentum has clearly eased since last week," analysts from research house ETM Analytics said in a note.South Africa's rand has shed more than 3 percent in value ...

Ugandan shilling stable as importers stay on sidelines KAMPALA: The Ugandan shilling was stable on Tuesday, helped by sluggish corporate demand for dollars as importers stayed on the sidelines betting on a cheaper greenback in the coming days.At 0849 GMT, commercial banks quoted the shilling at 2,997/3,007, barely moved from Monday's close of 2,998/3,008."Most corporates are staying out of the market because they say at current levels the dollar is very expensive," said Sage Daniel Muganza, trader at Centenary Bank. "They're waiting to ...
South Africa's rand, bonds weaker as dollar rebound adds pressure JOHANNESBURG: South Africa's rand was flat against the dollar on Monday, remaining in touching distance of its weakest level in a week as sentiment towards emerging markets ebbed.By 1520 GMT the rand inched 0.02 percent weaker to 12.0575 per dollar, as poor local economic indicators compounded offshore risk factors and threatened to force the unit toward the crucial 12.10 technical mark.New vehicle sales for April fell 3.3 percent to their lowest in over 10 months, ...
South Africa's rand slightly firmer, pressure looms JOHANNESBURG: The rand ended a two day losing streak on Monday, although downside risks were in focus after China, a key importer of South African commodities, released weaker than expected manufacturing data.By 0655 GMT the rand traded at 12.0400 against the greenback, 0.12 percent stronger than its Friday close in New York. Government debt prices fell, with the yield on the benchmark instrument maturing in 2026 adding 4.5 basis points to 8.0 percent. Traders and ...
Kenyan shilling holds steady, though further weakening seen NAIROBI: The Kenyan shilling steadied at three-year lows touched late last week on Monday as dollar demand eased at the start of the month.At 0730 GMT, commercial banks quoted the shilling at 94.60/70 to the dollar, the same level as Thursday's close and near lows last seen in November 2011.The market was closed on Friday for a public holiday."Corporate (dollar) demand has petered out after companies met their end-month demands last week," said a trader ...
South Africa's rand slides after Fitchs warns of vulnerability JOHANNESBURG: The rand fell as much as 1.6 percent against the dollar on Thursday, after upbeat U.S. data boosted the greenback and ratings agency Fitch warned about South Africa's reliance on offshore portfolio inflows.The rand slid despite data showing South Africa's trade balance swung into a surplus of 482.5 million rand in March from a deficit of 8.7 billion rand in February.The currency hit a session trough of 11.9775 to the dollar, and was at ...
South Africa's rand gains 1.2pc as market bets on dovish Fed JOHANNESBURG: South Africa's rand climbed more than 1.2 percent to a 3-1/2 week high against the dollar on Wednesday, riding on an upswing in risk appetite after a raft of weak data dampened expectations for U.S. rate hikes.The rand touched 11.7190/dollar, its strongest since April 6 according to Thomson Reuters data, and was trading at 11.7455 by 1522 GMT, a 1.04 percent gain over Tuesday's New York close at 11.8685.It was one of the strongest ...


Index Closing Chg%
Arrow DJIA 18,232.02 0.29
Arrow Nasdaq 5,089.36 0.03
Arrow S&P 2,126.06 0.22
Arrow FTSE 7,031.72 0.05
Arrow DAX 11,815.01 0.42
Arrow CAC-40 5,117.17 0.50
Arrow Nikkei 20,413.77 0.74
Arrow H.Seng 27,992.83 1.70
Arrow Sensex 27,643.88 1.12

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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
WeeklyMay 21, 2015
Reserves $17.75 bln