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Middle East & Africa


South Africa's rand softens after failing at key resistance JOHANNESBURG: South Africa's rand eased against the US dollar on Thursday after failing to push through the stubborn 12/$ resistance level, while investors waited for direction from US jobs numbers due in the next session. The weak state of the domestic economy was also in focus after Finance Minister Nhlanhla Nene told parliament a sluggish global recovery and domestic constraints such as power shortages were holding back growth. At 1504 the rand had softened 0.27 percent to 12.0450 against the dollar compared with its closing level at 12.0125 in New York. "We've seen it struggling to make a move from this 12.00 rand against the dollar handle where it has been consolidating for the past couple of sessions," said Jana van Deventer, market analyst of ETM Analytics. "We believe that the US data (non-farm payroll) tomorrow will be key in providing directional momentum for the currency into the weekend," the ...

Ugandan shilling flat on tepid demand for dollars KAMPALA: The Ugandan shilling was unchanged on Thursday amidst sluggish demand from banks and firms for dollars.At 0901 GMT, commercial banks quoted the shilling at 2,995/3,005, unchanged from Wednesday's close.Shahzad Kamaluddin, a trader at Crane Bank, said importers were waiting to see if the foreign exchange rate would come off in the event of the dollar weakening and the central bank propping up the local currency."Because of these factors corporate (firms) think there's room for ...
South Africa's rand gains, economy woes offset by weak dollar JOHANNESBURG: South Africa's rand held on to gains against the dollar on Wednesday despite a fall in domestic consumer confidence, as the greenback came under pressure from poor U.S. trade data.At 1430 GMT the rand was trading 0.47 percent firmer at 11.9235 to the dollar compared with its closing level on Tuesday.The currency briefly breached the key 12/$ mark after data showed South Africa's consumer confidence slumped in the first quarter of 2015, weighed down ...
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 ...
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 ...


Index Closing Chg%
Arrow DJIA 17,757.91 0.79
Arrow Nasdaq 5,013.13 0.53
Arrow S&P 2,077.42 0.69
Arrow FTSE 6,608.59 1.34
Arrow DAX 11,180.50 2.15
Arrow CAC-40 4,883.19 1.94
Arrow Nikkei 20,329.32 0.46
Arrow H.Seng 26,250.03 1.09
Arrow Sensex 28,020.87 0.86

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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
WeeklyJuly 01, 2015
Reserves $18.5 bln