Today, the country's non-oil sector accounts for about 74 per cent of the total GDP
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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
Today, the country's non-oil sector accounts for about 74 per cent of the total GDP
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Investors are advised to deal with only SEBI registered mutual funds
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The first centre will bring together academic researchers and practitioners from the private sector to develop and share best practices in responsible AI
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The UAE has already signed CEPA with major trading partners such as India, Israel, Chile, Colombia, Turkey, Indonesia, Georgia and Cambodia
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