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The United Arab Emirates is increasingly pursuing bilateral trade deals outside of the Saudi-headquartered regional Gulf Cooperation Council (GCC), as competition with Riyadh intensifies for economic dominance in the oil-rich region.
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Most Gulf stock markets were subdued on Tuesday, mirroring a decline in Asian shares and volatile energy prices as standoff over the U.S. debt ceiling capped investor risk appetite, although Abu Dhabi edged up led by hospital operator Burjeel.
Qatar Investment Authority has been very active in private and public credit over the past two years, CEO Mansoor Ebrahim Al-Mahmoud said on Tuesday.
Majid Al Futtaim (MAF) and Banque Saudi Fransi both launched Islamic bonds, or sukuk, on Tuesday, as investor demand and favourable conditions drive issues from the Gulf region.
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Most major Gulf stock markets opened higher on Monday, while Saudi Arabia's benchmark index extended its losses as lower oil prices and concerns over U.S. debt ceiling negotiations dampened investor sentiment.