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Govt raises Rs75.43bln via fixed, variable rates


January 15, 2021
KARACHI: The government on Thursday raised Rs75.439 billion through the auction of five-year fixed and variable rental rates Government of Pakistan Ijara Sukuk, in a bid to help finance the budget deficit.
The government raised Rs67.189 billion via the auction of Ijara Sukuk (variable), while the amount realised through fixed rental rate Sukuk was Rs8.250 billion, according to the central bank’s auction result.
The cut off fixed rental rate was 9.45 percent.
Last month, the State Bank of Pakistan issued the auction calendar for issuance of Sukuk based on Ijara for five years.
Pre-auction target for variable and fixed rental rate Sukuks during January-March 2021 set at Rs150 billion. ....

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Aegis Capital Corp. Announces the Addition of a New Institutional Fixed Income / Structured Assets Department


Aegis Capital Corp. Announces the Addition of a New Institutional Fixed Income / Structured Assets Department
Aegis Capital Corp. (
a full-service wealth management, financial services and investment banking firm is pleased to
announce Darren Wolberg and Russell Mueller have joined the firm as Managing Directors of the Institutional Fixed Income/Structured Assets Department
Mr. Wolberg is a Managing Director at Aegis Capital Corp and head trader on the Institutional Fixed Income Structured Assets trading desk. His responsibilities include market making for Commercial Mortgaged-Backed Securities (CMBS), including agency multifamily pools and bonds, Ginnie Mae Project Loans, SBA s, ABS, CLO/CDO, as well as structured residential securities. Prior to joining Aegis Capital, Mr. Wolberg worked at a number of both Primary and Regional broker/dealers, where his focus was on trading CMBS and agency-insured multifamily loans as well as other esoteric mortgage products. Mr. ....

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Fixed rates slashed over 2,000 times in 2020


Mortgage Business
Fixed rates slashed over 2,000 times in 2020
By Malavika Santhebennur
08 January 2021
Lenders made almost 7,000 cuts to home loan interest rates in 2020, and 535 home loan rate increases, according to data.
Figures released by Canstar revealed that between 1 January 2020 and 31 December 2020, there were 6,777 cuts to home loan interest rates, with an average cut of 0.30 per cent.
The Canstar database showed that lenders made 2,455 cuts to fixed rates for owner occupiers, with an average cut of 0.33 per cent, while 880 cuts were made to variable rates for owner occupiers, with an average cut of 0.21 per cent.
A total of 2,678 fixed rate cuts were made for investors, with an average cut of 0.32 per cent, while 764 cuts were made to variable rates for investors, averaging 0.21 per cent. ....

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Year from hell: Hastings man loses job in Covid, van in flooding


Year from hell: Hastings man loses job in Covid, van in flooding
29 Dec, 2020 11:22 PM
2 minutes to read
Jaimz Horne s Mazda Biante has been falling apart since it was caught up in the Napier flooding. Photo / Paul Taylor
Jaimz Horne s Mazda Biante has been falling apart since it was caught up in the Napier flooding. Photo / Paul Taylor
A Hastings man has been unable to get his flood-damaged car fixed having had to cancel his insurance after losing his job at the beginning of Covid lockdown.
On November 9, Jaimz Horne drove to Napier to pick up his friends, who had rung asking for help as they were worried about the rising floodwaters. ....

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