Middle East shares were narrowly mixed, with little direction
ahead of year end.
Saudi Arabia eked out a new five-year high after the 2014 state
budget, which projected spending would rise a modest 4.3% from this
year's plan, suggesting the kingdom was starting to slow
expenditure growth after three years of huge increases.
Egypt will complete payment this week of $1.5 billion of the
$6.3 billion it says it owes oil firms, a state executive said on
Monday, in line with a plan aimed at restoring confidence in an
economy hit by nearly three years of political turmoil.
In ADR news, Elbit Systems (
) says the Australian Department of Defence has exercised options
for additional quantities under an extant contract via a contract
change, and also hired ESLT to conduct a Risk Reduction Activity
via a survey and quote under the terms of an extant contract. The
total value of both activities is approximately US$229 million
(excluding GST). The contract will be performed over a three-year
Dubai's main index firmed 0.4% to 3,237 points, Abu Dhabi inched
up 0.09% to 4,150 points, Qatar rose 0.5% to 10,453 points, Kuwait
edged up 0.1% to 7,635 points, Egypt dipped 0.2% to 6,725 points,
Oman eased 0.1% to 6,793 points and Bahrain edged down 0.2% to
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