Bahrain to sell $500m 5-yr sukuk
Bahrain has mandated Credit Agricole's investment arm Calyon, Deutsche Bank and HSBC, as the three lead arrangers for its planned $500m Islamic bond issue that will help it cover its budget deficit due to lower oil revenues. Bahrain also plans to issue a BD250 million ($663.1m) three-year sovereign bond, the date for which has yet [...]
Qatar pledges $150bn in aid to boost companies
Qatari Premiere, Shaikh Hamad bin Jassem Al Thani, said that Qatar has earmarked $150bn over the next four years to be used on infrastructure projects and to assist companies hit by the global economic crisis. The premier said the funds would be issued directly by the government and not through its sovereign wealth fund.
Sabic pulls Tasi down
Saudi shares sled by 3% last week, closing at 5,216.84 points, after losses incurred by Saudi Basic Industries Corp. (Sabic), Arab News has reported. The Tadawul All-Share Index (Tasi) has gained about 32% in five successive weeks and is still currently 8.6% higher than the years start.
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