Saudi National Bank launches US dollar-denominated sukuk
RIYADH, SAUDI ARABIA - Saudi National Bank (SNB) commenced the US dollar-denominated senior unsecured sukuk issuance through a special-purpose vehicle. The sukuk are offered to qualified...
Business
‘Bond market acts as a mirror to economic realities’
"(US Federal Reserve Chair Jerome) Powell's focus on verifying inflation's trajectory is in line with the central bank's dual mandate...
Business
Opinion
Marketwatch: Commodities see bumpy start to March
The Chinese government’s desire to avoid making the same mistakes other governments and central banks have made has driven inflation...
- March kicked off with continued and broad weakness after China and the US, the world’s two biggest commodity consuming nations, both delivered price softening news
- Sentiment received a further setback after steep losses in two small US lenders – helping drive the S&P 500 index to a two-month low, a report by Saxo Bank suggests
Market Report
Global stocks mixed as markets await US jobs data
Wall Street rose but European stock markets fell as investors brace for US jobs data that they fear could prompt...
- The US Federal Reserve raised rates by a quarter basis point in December, lower than previous decisions.
- European wholesale natural gas prices dived to the lowest level since August 2021, due to high storage levels.
Market Report
US, European stocks dip as traders mull US rates outlook
US and European stocks dipped as dealers fretted that the Federal Reserve would push interest rates higher than expected and...
- Oil prices rebounded, while the pound extended gains won on Brexit deal alterations.
- Eurozone bond yields surged higher, with the yield on the benchmark German 10-year government bond rising to a 12 year high.
Market Report
Commodities hurt by a crisis of confidence
Inflationary pressures, meanwhile, have eased by less than expected. Continued strength in the numbers has forced the Fed to turn...
- The commodity sector remains on the backfoot this month after a supportive focus on China’s reopening was replaced by fresh growth and demand concerns
- In the US, recent economic reports have shown continued strength in the labor market while inflationary pressures have eased by less than expected
Economy
Gulf Common Market moves ahead with new tracks
New tracks have been launched in the Gulf common market to supplement the 10 current tracks. The bloc also seeks...
- New tracks have been launched in the Gulf Common Market to supplement the 10 current tracks. The bloc also seeks collaboration with the private players in the region
- The "third phase" of the statistical survey was also reviewed during the meeting to assess the implementation of the GCC Common Market plans on the ground
Business
More firms set for listing on Qatar Stock Exchange
"The new listings will take place between March and April. Another group of companies will be listed in the venture...
- New companies are about to be listed on Qatar Stock Exchange, including MEEZA and another start-up operating in the oil and gas services sector, says top official
- The new listings will take place between March and April, adds Acting CEO of the QSE Abdulaziz Nasser Al Emadi on the sidelines of the listing of Dukhan Bank
Market Report
London FTSE hits new record peak at open
LONDON, UK - The London stock market jumped to a record peak Tuesday in a positive open across Europe, after hefty...
- The British capital's benchmark FTSE 100 index of top companies reached as high as 7,986.20 points.
- In the eurozone, Frankfurt's DAX added 0.2 percent to 15,428.55 points and the Paris CAC 40 grew 0.3 percent to 7,231.64.
Market Report
Stocks steady, dollar higher on US rate-hike expectations
Stock markets largely steadied and the dollar rose with traders forecasting US interest rates to keep climbing following last week's...
- January's rally for equities was halted as investors contemplate an extended period of high borrowing costs.
- Leading Asian stock markets and London managed gains Tuesday after all three main indices on Wall Street kicked off the week with losses.
YEARBOOK 2023
Saudi Arabia, UAE set to lead IPO activities in GCC
Around 27-39 companies in the Gulf region are expected to come out with IPOs in the first few months of...
- Around 27-39 companies in the Gulf region are expected to come out with IPOs in the first few months of this year with the Kingdom and UAE leading from the front, reports suggest.
- Saudi and the UAE have also taken substantial measures to facilitate IPO operations in their markets in terms of facilitating business and performing IPOs, they highlight
Market Report
Markets rise on better-than-expected US growth
Stock markets rose as US data showed the country grew at a slower pace in 2022 but finished the year...
- For 2022 as a whole, the US economy grew at a slower pace than the previous year, expanding 2.1 percent, the Commerce Department said.
- Investors are also focused on the next move of the US Federal Reserve, which has hiked rates since last year in a bid to tame galloping inflation.
Saudi National Bank launches US dollar-denominated sukuk
RIYADH, SAUDI ARABIA - Saudi National Bank (SNB) commenced the US dollar-denominated senior unsecured sukuk issuance through a special-purpose vehicle. The sukuk are offered to qualified...
Business
Company News
DTC sets IPO offer price range
Business
ADIB issues green sukuk
Business
Latest News
Bank of Sharjah joint lead manager for $350m Ittihad sukuk
SHARJAH, UAE - Bank of Sharjah announced its selection as joint lead manager and bookrunner in the debut US$350 million...
Business
DTC sets IPO offer price range
Final offer price will be fixed through a book-building process
Business
UAE holds 19% of global sustainable bonds, says Fitch Ratings
DUBAI, UAE - Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues...
Business
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Business
UAE Islamic Treasury Sukuks auction is a tremendous success
ABU DHABI, UAE - The United Arab Emirates, represented by the Ministry of Finance (MoF) as the issuer, in collaboration...
- The fifth auction of the UAE T-Sukuks program witnessed strong demand through with bids received worth US$1.57 billion.
- The success is reflected in the market-driven prices, which was achieved by a spread of 4 to 11 bps over US Treasuries with similar maturities.
Market Report
IPOs in MENA raise US$5.8bn in first nine months of 2023
ABU DHABI, UAE - A recent report revealed that 29 initial public offerings (IPOs) were recorded in the Middle East...
- The report indicated that the MENA region witnessed six IPOs during the third quarter of this year with proceeds of US$523 million.
- The report described plans to list shares for IPO in the fourth quarter of 2023 and early 2024 as still promising.
Market Report
Stocks extend global rally as US jobs data cements rate hopes
Hong Kong, China - Markets rallied again Monday following another strong performance on Wall Street, as below-forecast US jobs data fanned...
- All three main indexes on Wall Street jumped Friday after the jobs reading, which also fueled bets on an interest rate cut by June.
- Asian markets tracked the rally in New York, with Tokyo more than two percent higher, while Hong Kong, Wellington, Manila and Jakarta were up more than one percent