By Reuters Staff
2 Min Read
DUBAI, April 26 (Reuters) - The government of the Maldives sold $100 million in Islamic bonds on Monday in a reopening of a transaction the state did last month, a document showed.
The “tap” of the existing bonds - when an existing transaction is reopened for subscription using the same documentation as before - was at a profit rate of 10.5%, the document from one of the banks on the deal showed.
That transaction was a tap of a five-year sukuk deal the Maldives did last month through which it raised $200 million.
Emirates NBD Capital, HSBC and the Islamic Corporation for the Development of the Private Sector (ICD) arranged the tap, the document showed.
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FILE PHOTO: Containers are seen at Abu Dhabi s Khalifa Port after it was expanded in Abu Dhabi, UAE, December 11, 2019. REUTERS/Satish Kumar/File Photo
DUBAI (Reuters) - Abu Dhabi Ports, which owns and operates 11 ports and terminals in the United Arab Emirates and Guinea, has secured a $1 billion loan with a group of banks, two sources said.
Nine banks provided the facility, with Citi and First Abu Dhabi Bank having lead roles in the transaction, the first source said on condition of anonymity.
The source added that HSBC and Standard Chartered were also involved in the loan for the company, which is owned by Abu Dhabi state holding company ADQ.
By Reuters Staff
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FILE PHOTO: A view of the city skyline and River Nile from Cairo tower building in the capital of Cairo, Egypt December 5, 2019. REUTERS/Amr Abdallah Dalsh/File Photo
CAIRO (Reuters) -Egypt expects its borrowing needs to rise by 7.1% to 1.068 trillion Egyptian pounds ($68.1 billion) in the financial year that will begin in July, according to a copy of the draft budget.
The government projected raising 66 billion pounds of this by selling international bonds, down from 72 billion pounds this year, said the draft seen by Reuters.
Finance Minister Mohamed Maait told parliament on Sunday that 2021/22 expenditure would be 2.46 trillion pounds. The budget was based on economic growth forecast at 5.4% - up from an estimated 2.8% this year - and inflation of 7%.
By Reuters Staff
2 Min Read
April 22 (Reuters) - Foreign inflows into Japanese stocks slowed in the week ended April 16, on concerns about the economic slowdown due to a resurgence of coronavirus cases in Japan.
Overseas investors bought 27.4 billion Japanese yen ($253.73 million) worth of stocks last week, after purchasing 575 billion yen in the previous week, data from Japanese exchanges showed on Thursday.
They bought a net 58 billion yen worth of derivatives, but sold 31 billion yen in cash equity markets in the last week, the data showed.
Japanese shares have declined this week as investor fears about potential lockdowns in the country’s biggest cities cast doubts over the prospects of an economic reopening.
Dollar, oil on track for weekly declines (Updates prices, adds comment)
NEW YORK, April 23 (Reuters) - Stocks rose on Friday as solid economic data reversed a Wall Street decline in the previous session, setting up a global stocks index for a fifth consecutive week of gains.
Oil prices rose more than 1% but were on track to end negative for the week, while the strong data lifted the euro and the dollar index fell as it lost some of its safe haven appeal.
Stocks rose sharply on Wall Street a day after reports of a Biden administration push to raise taxes on capital gains shoved indexes lower. The proposed increases had been public since the presidential campaign.