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The Kingdom of Saudi Arabia hit the market for the first time in 2020 to place USD5bn in bonds across three tranches, including a 35-year tranche – the country’s longest to date.
22 Jan 2020
A slew of GCC borrowers have moved to sell bonds and sukuk to global investors a further sign that regional borrowers and capital holders remain unperturbed by any perceived escalation in geopolitical risk.
17 Jan 2020
Economic and business environments are conspiring to prompt some uncomfortable questions for financial institutions. One such question is – does the world still need banks? Rising competitiveness in the financial sector, persistently low interest rates, technological innovation, and a rapidly changing banking sector are just some of the key developments in the UAE of late where the financial…
15 Jan 2020
The Islamic finance industry is set to grow at a rate of around 5% in 2020, due to weak conditions in economic conditions in the industry’s core markets, according to S&P Global’s ‘Islamic Finance Outlook 2020’. The report also notes three drivers - the rise of FinTech, ESG sukuk, and standardisation - could fuel the industry.
15 Jan 2020
Saudi Arabia’s Ministry of Energy kicked off the third round of Kingdom’s National Renewable Energy Program (NREP) and is seeking bidders on new projects with a total generation capacity of 1.2GW.
10 Jan 2020
Specialized Islamic real estate financier Amlak Finance PJSC has said it managed to agree credit restructuring terms with about 95% of its existing creditors, putting it within touching distance of finalising its second restructuring in five years.
9 Jan 2020
Following a year marked by numerous tanker incidents in the Straits of Hormuz and a brazen attack on Saudi Aramco’s oil infrastructure, a recent escalation in geopolitical tensions between the US, Iran and Iraq could start to reverse the strong technicals-driven performance increase seen amongst GCC sovereign credit in 2019, according to analysts at Standard Chartered.
8 Jan 2020
The Dubai government is looking to boost spending strongly in 2020 in a bid to stimulate the economy, with the sharp up-tick in spending growth set to be driven mainly by wage increases, administrative grants, and financial support. Higher fees and VAT appear likely to drive the bulk of additional revenue generation. Investment spending, meanwhile, looks set to decline.
8 Jan 2020