World Gold Council reiterates that fundamentals for the metal remain strong despite record high prices
Dubai Islamic Bank sold $750 million of its debut sustainable Islamic bond on Tuesday, a bank document showed.
The sukuk, which mature in five years, were sold at 155 basis points (bps) over US Treasuries, tightened from initial guidance of around 175bps over after demand topped $1.6 billion, the document showed.
Bank ABC, Dubai Islamic Bank, Emirates NBD Capital , First Abu Dhabi Bank, KFH Capital, HSBC, Sharjah Islamic Bank and Standard Chartered are arranging the debt sale.
The deal comes as issuers in the Gulf — where international bond sales have plummeted this year amid enduring volatility and rising rates — pounce on windows of opportunity to issue debt in choppy markets.
Dubai’s Mashreq raised $500 million in Tier 2 bonds last Thursday, on the heels of a $700 million bond sale by Banque Saudi Fransi a day before. — Reuters
World Gold Council reiterates that fundamentals for the metal remain strong despite record high prices
The world’s most populous nation expects 10 to 20 heatwave days
The South Asian nation is seeking a long-term bailout from the International Monetary Fund
Dubai in particular is seen as an increasingly attractive market
Almost every sector of the economy has been affected
On June 1, 2023, the emirate's flagship carrier unveiled a closed loop recycling initiative to transition to the principles of a circular economy
Frankfurt-based institution has left its key rates unchanged since October 2023
Grupo Financiero Galicia to buy the business for $550 million