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Middle East & Africa


Kenyan shilling steady, stocks fall on profit-taking NAIROBI: Kenya's shilling was stable on Monday, supported by offshore investors preparing to participate in this week's government bond sale, while stocks closed lower.The shilling closed trade at 91.90/92.10 to the dollar, little changed on Friday's close of 92.00/92.10."We won't see any changes until the bond auction flows are over," Julius Kiriinya, trader at African Banking Corporation, said.The central bank will auction an infrastructure bond worth 25 billion shillings ($272 million) on Wednesday, which traders say has attracted foreign investor interest.Some investors were looking for any shilling weakness to buy the currency to invest in other assets, such as shares or bonds.On the Nairobi Securities Exchange, the main NSE-20 Share Index was down 38.74 points to close at 5,265.67 points, driven by profit-taking that started when the index scaled a seven-year peak in early March."It's just a bit of sell-off, rather profit-taking so far, mostly still in reaction to earnings ...

South Africa's rand strongest in two weeks on buoyant euro JOHANNESBURG: South Africa's rand climbed to its strongest level in two weeks against U.S. dollar on Monday, tracking a buoyant euro and breaking through a key psychological technical resistance point.By 1515 GMT the rand had gained 0.81 percent to 11.9520 per dollar following a volatile overnight session that saw the local unit weaken to 12.1300, before rallying below 12.The euro was 0.78 percent firmer versus the dollar, as comments by a top Federal Reserve official ...
South Africa's rand steadies, market awaits MPC JOHANNESBURG: South Africa's rand was largely steady on Monday, with direction likely to be driven by global market moves as investors speculate on the timing of policy tightening in the United States.On the domestic front, market players anticipated few ripples from the South African Reserve Bank's interest rate decision on Thursday, where the benchmark repo rate will likely stay unchanged at 5.75 percent.At 0631 GMT, the rand was just 0.16 percent softer at 12.0300 to ...
Ugandan shilling weaker as energy, manufacturers exert demand KAMPALA: The Ugandan shilling lost ground on Monday, undermined by dollar demand from the manufacturing and energy sectors.Traders said they anticipated the local currency to weaken further against the dollar this week, on a surge of month-end demand for the US currency by importers.At 0915 GMT commercial banks quoted the shilling at 2,950/2,960, weaker than Friday's close of 2,940/2,950."We have clients from the manufacturing and energy sectors exerting demand," said Ahmed Kalule, trader at Bank ...
Egyptian pound steady on official market, stronger on black market CAIRO: Egypt's central bank kept the pound steady at 7.53 pounds to the dollar at a foreign exchange auction on Monday, while the domestic currency strengthened slightly on the black market.The central bank has kept the official exchange rate steady for more than a month after letting the pound weaken in an attempt to wipe out black-market trading.The bank said it offered $40 million at auction and sold $38.2 million at a cut-off price of ...
Nigeria set for post-election rate rise JOHANNESBURG: Uncertainty about the outcome of this weekend's presidential election will prompt Nigeria's central bank to keep interest rates on hold at a meeting on Tuesday, but a rise is likely in the second quarter, a Reuters poll found on Monday.Africa's biggest oil producer has been hit by the plunge in oil prices and a crisis in the naira is stoking inflation."At this point it is sensitive because of the elections, I don't see them ...
Kenyan shilling steady with support from bond investors NAIROBI: Kenya's shilling was steady in early trading on Monday, finding some support from offshore investors seeking the local currency to bid for this week's sale of a government infrastructure bond.At 0730 GMT, the shilling was quoted at 91.90/92.10 to the dollar, little changed on Friday's close of 92.00/92.10."We have seen some demand for the local currency which is giving it some support," said one dealer, adding offshore investors were exchanging dollars for shillings before ...


Index Closing Chg%
Arrow DJIA 18,080.14 0.12
Arrow Nasdaq 5,092.09 0.71
Arrow S&P 2,117.69 0.23
Arrow FTSE 7,070.70 0.24
Arrow DAX 11,810.85 0.74
Arrow CAC-40 5,201.45 0.44
Arrow Nikkei 20,020.04 0.83
Arrow H.Seng 28,060.98 0.84
Arrow Sensex 27,437.94 1.07

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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
WeeklyApril 16, 2015
Reserves $16.818 bln