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Middle East & Africa


South Africa's rand on firmer footing as global risk appetite improves JOHANNESBURG: The South African rand hovered near the previous session's two-week highs against the dollar on Wednesday, benefiting mainly from an upswing in global risk appetite.At 0640 the local unit traded at 11.3840 to the greenback, barely off Tuesday's closing level of 11.3720.The rand had climbed more than 1 percent to 11.3650 the previous day, its strongest since Jan. 22, as recent interest rate cuts by some central banks, the latest being Australia's Reserve Bank, boosted appetite for high yielding assets.In fixed income, the yield on government debt maturing in 2026 added 4 basis points to 7.215 percent.Improving global sentiment due to a rising oil price and hopes of a resolution to Greece's debt problems had hit the dollar and bonds, helping the rand, RMB currency analyst John Cairns said."Yesterday's price action shows that global markets - including the rand, local bonds and equities - are now tied to the ...

Kenyan shilling firm on tight local currency liquidity NAIROBI: Kenya's shilling held firm on Wednesday morning, helped by tight local currency liquidity and weak demand for dollars from importers and other companies.By 0658 GMT, the shilling was trading at 91.55/65, unchanged from Tuesday's close."Lack of demand from corporates and tight liquidity are helping the shilling," said Sheikh Mehran, head of trading at I&M Bank.Corporate demand for dollars tends to rise towards the end of month, while last week's bond and treasury bill sales ...
Egyptian pound holds steady at central bank auction CAIRO: Egypt's pound held steady at 7.53 per dollar at Wednesday's central bank auction, remaining unchanged for the first time since the bank began allowing the pound to weaken on Jan. 18.The bank offered 40 million dollars and sold 38.5 million at a cut-off price of 7.5301 pounds per dollar, the central bank said, the same price at the previous sale on Monday.The central bank has let the official pound exchange rate weaken steadily since ...
Nigeria naira sheds 1.1pc on low dollar liquidity LAGOS: Nigeria's naira shed 1.1 percent in mid-morning trades on Wednesday, driven lower by low dollar liquidity amidst rising demand for the greenback, dealers said.The naira, which opened at 190.30, quickly fell to 192.30 to the dollar by 1050 GMT. The unit closed at 189.15 naira the previous day.Dealers said Italy's ENI sold $24 million to some lenders to buy naira for its local operations, but it was insufficient to help quench dollar demand.Copyright Reuters, ...
Ugandan shilling stable, weakening bias seen KAMPALA: The Ugandan shilling was largely stable on Wednesday but was expected to face pressure in the short term due to strong liquidity and an expected recovery in corporate demand for dollars.At 0805 GMT commercial banks quoted the shilling at 2,860/2,870, little changed from Tuesday's close of 2,858/2,868.Sage Daniel Muganza, trader at Centenary Bank, said there was a lot of liquidity due to government spending at the end of January to pay public workers' salaries ...
Rand firmer on offshore interest after Australia rate cut JOHANNESBURG: South Africa's rand recorded a second day of gains on Tuesday toward its firmest level in over a week against the dollar, as a surprise policy move by yet another central bank in the developed market increased the appeal of local assets.By 1558 GMT the rand had firmed 0.75 percent to 11.4010 , following a 1 percent gain in the previous session, breaking through the 11.4100 technical resistance level for the first time in ...
South Africa's rand over 1pc firmer as dollar struggles JOHANNESBURG: South Africa's rand continued a recent volatile run on Monday, strengthening by over a percent against the dollar as U.S. consumer spending declined by is biggest margin since late 2009.By 1532 GMT the local unit had firmed 1 percent to 11.5250 per dollar, erasing Friday's sharp losses as global risk sentiment was soothed slightly by a recovery in world oil prices.Crude oil futures rose as high as $55.62 a barrel, boosting commodity-linked and emerging ...


Index Closing Chg%
Arrow DJIA 18,096.90 0.58
Arrow Nasdaq 4,967.14 0.26
Arrow S&P 2,098.53 0.44
Arrow FTSE 6,919.24 0.44
Arrow DAX 11,390.38 0.98
Arrow CAC-40 4,917.35 0.99
Arrow Nikkei 18,703.60 0.59
Arrow H.Seng 24,465.38 0.96
Arrow Sensex 29,380.73 0.72

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