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Managed Funds

Business & Finance - Managed Funds

Tunisia to issue 1bn euro Eurobond in January TUNIS: Tunisia plans to issue a Eurobond worth 1 billion euros in January as it seeks funding to cover its deficit, a government source said on Monday. The issue was initially scheduled for April, but that was delayed after Tunisia secured a $500 million sovereign bond fully guaranteed by the United States, said the official."Tunisia will issue in January 2017 a delayed 1 billion euro Eurobond that was first planned earlier this year," he said, without giving further details.Tunisia's economy has been hit by social unrest and militant attacks following the 2011 uprising that toppled former leader Zine El-Abidine Ben Ali. Investment has fallen and unemployment is high, especially among young people.The government is facing further strikes over austerity measures included in the 2017 budget as it tries to cut public spending and rein in the deficit.Tunisia recently cut its 2016 growth forecast to 1.5 percent this year, down from ...

Business & Finance - Managed Funds

Development Bank of Kazakhstan to buy back up to $200mn in bonds MOSCOW: State-owned Development Bank of Kazakhstan (DBK) offered on Monday to buy back up to $200 million in 2022 Eurobonds out of a $1.425 billion issue, the bank said in a statement. The offer runs until Dec. 7 with a minimum price set at 94.5 percent of face value, the bank said.Copyright Reuters, 2016 ...

Business & Finance - Managed Funds

Indian bond yields jump after RBI hikes cash reserve ratio MUMBAI: Indian bonds slumped on Monday, with the benchmark 10-year bond yield up as much as 15 basis points, after the central bank ordered banks to boost cash deposits with it in a bid to absorb excess liquidity generated by a government ban on larger notes.The benchmark 10-year bond yield was up 8 basis points at 7.31 percent at 0345 GMT, after earlier rising as much as 15 basis points at open, reacting to the ...

Business & Finance - Managed Funds

Egypt's three and nine-month t-bill prices fall in weekly auction CAIRO: Yields on Egypt's three- and nine-month Treasury bills rose at an auction on Sunday, data from the central bank showed. Yields on the 91-day bill increased to an average of 18.186 percent from 17.744 percent the last time similar bills were sold. Yields on the 273-day bill jumped to an average of 18.475 percent from 17.610 percent at the last similar auction.Copyright Reuters, 2016 ...

Business & Finance - Managed Funds

Zimbabwe to start circulating new bond notes on Monday HARARE: Zimbabwe's central bank said on Saturday it will circulate $10 million worth of new bond notes on Monday, a quasi-currency that authorities expect to ease a serious cash crunch, but will limit withdrawals to curb any abuses. The Reserve Bank of Zimbabwe (RBZ) first announced the plan in May to issue bond notes to address chronic cash shortages and supplement dwindling US dollars that have been in circulation for the past seven years.But many ...

Business & Finance - Managed Funds

France to sell 2.5-3.5bn eur of OATs at auction next week PARIS: France will sell up to 3.5 billion euros ($3.71 billion) of 15- and 25-year bonds at its monthly long-term bond auction on Dec. 1, the Agence France Tresor public debt management agency said on Friday. Copyright Reuters, 2016 ...

Business & Finance - Managed Funds

China's finance ministry sells 3-month bills at 2.1092pc SHANGHAI: China's Ministry of Finance auctioned 12 billion yuan ($1.74 billion) of three-month bills in the interbank market on Friday at an average yield of 2.1092 percent, traders said. The auction yield for the three-month bills came in below Thursday's benchmark secondary market yield of 2.1499 percent for three-month government bills.Copyright Reuters, 2016 ...