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Middle East & Africa


Kenya's shilling slips, eyes on any central bank action NAIROBI: Kenya's shilling weakened in early business on Thursday as companies sought dollars to meet end-of-month payments but traders said clients were cautious in case the central bank intervened to sell dollars again.By 0654 GMT, the shilling was trading at 101.95/102.05, slipping from Wednesday's close of 101.60/70.The central bank sold dollars on Wednesday at around the 102.50 level. The sales provided brief support, although the shilling has remained under pressure due to global dollar strength and a slump in dollar revenues from tourism."The market is cautious," said one senior trader, although he said the overall trend was still for a weaker shilling.Another dealer noted regular demand from companies seeking dollars to meet end-of-month payments.But he said rising overnight interbank rates on the shilling was providing some support to Kenya's currency. Overnight rates had climbed to about 18 percent from below 10 percent at the start of the month, the dealer ...

South Africa's rand a touch firmer as market bets on dovish Fed JOHANNESBURG: South Africa's rand firmed for a third straight session against the dollar on Wednesday as investors bet that the US Federal Reserve might issue a dovish policy statement, boosting the appeal of high-yielding emerging market assets. With investors focused on the Fed, the rand barely moved after a Statistics South Africa survey showed that unemployment eased slightly to 25 percent in the second quarter from 26.4 percent previously.At 1545 GMT the rand was trading ...
South Africa's rand pauses ahead of Fed, local jobs data JOHANNESBURG: South Africa's rand was largely unchanged on Wednesday as investors cautiously awaited a US Federal Reserve policy statement and local unemployment data later in the session.At 0625 GMT the rand was barely changed at 12.5650 per dollar, failing to hold on to momentum that saw the unit trade firm to 12.52 overnight after crashing to a 14-year low on Monday."The rand is almost stuck in a bit of a consolidation range for the day," ...
South Africa's rand moves up from 14-year lows vs dollar, awaits US Fed JOHANNESBURG: South Africa's rand gained slightly against the dollar on Tuesday, pulling away from the previous day's 14-year lows after a sell-off traders and analysts said looked to have been overdone. The rand hit a session high of 12.5250/dollar and was trading 0.42 percent firmer at 12.5645 by 1619 GMT compared with Monday's close. The rand had stumbled to 12.69 on Monday, its weakest since December 2001, taking the brunt of an emerging market sell-off ...
South Africa's rand edges off 14-year low, China risks loom JOHANNESBURG: South Africa's rand recovered slightly early on Tuesday after touching a fresh 14-year in the previous session as emerging markets wobble on concerns over China's economy.At 0630 GMT the rand edged 0.18 percent firmer to 12.5945 per dollar, recovering from a low of 12.69 on Monday when the unit failed to breach the key 12.70 technical support."Worth noting that the last time the rand traded at these levels, the ensuing correction saw us revisit ...
South Africa's rand wobbly ahead of trade data JOHANNESBURG: South Africa's rand struggled against the dollar on Monday, with traders and analysts seeing scope for further weakness if local trade data comes out softer than expected and the Federal Reserve issues a hawkish statement later this week. The rand touched a fresh 14-year low of 12.6900 to the dollar, extending Friday's sharp losses, and traded at 12.6235 at 1604 GMT, slightly weaker than its previous close at 12.6165. Government bonds also ended the ...
South Africa's rand sinks to 14-year low as China worries weigh JOHANNESBURG: South Africa's rand sunk close to its weakest in a decade and a half on Friday as emerging markets suffered when more worrying signs of China's economic slowdown rattled sentiment toward riskier assets. The rand slid more than 1.5 percent to 12.6800 at 1316 GMT , its weakest against the dollar since December 2001. A preliminary survey of thousands of Chinese companies showed the Asian behemoth's factory sector contracting at the fastest pace in ...


Index Closing Chg%
Arrow DJIA 16,058.35 2.84
Arrow Nasdaq 4,636.11 2.94
Arrow S&P 1,913.85 2.96
Arrow FTSE 6,058.54 3.03
Arrow DAX 10,015.57 2.38
Arrow CAC-40 4,541.16 2.40
Arrow Nikkei 18,165.69 3.84
Arrow H.Seng 21,185.43 2.24
Arrow Sensex 25,696.44 2.23

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln