12042016Sun
Last update: Sun, 04 Dec 2016 07pm

Middle East & Africa

Markets - Fixed Income - Middle East & Africa

Yields rise at Egypt six-month, one-year T-bond auction CAIRO: The average yields on Egyptian six-month and one-year treasury bills rose at an auction on Thursday, central bank data showed. The 182-day treasury bills rose to 18.258 percent from 17.716 percent at the previous auction, and the yield for the 364-day treasury bills rose to 18.034 percent from 17.606 percent in a similar auction. Copyright Reuters, 2016 ...

Markets - Fixed Income - Middle East & Africa

South Africa's Treasury says supports minimum wage recommendation JOHANNESBURG: South Africa's Treasury said on Wednesday it supported the report by a government-appointed advisory panel that suggested a national minimum wage of 3,500 rand ($245) per month, throwing its political weight behind the policy initiative. "The report represents ... an important milestone in our government's efforts over the years in this regard," Finance Minister Pravin Gordhan was quoted as saying in a statement.Supporters of a minimum wage say it can stimulate growth as workers ...

Markets - Fixed Income - Middle East & Africa

Nigeria to raise 117bn naira treasury bills at auction LAGOS: Nigeria plans to sell 117.17 billion naira ($371.97 million) in short-dated treasury bills at an auction on Nov 30, the central bank said on Tuesday. The bank said it will sell 45.85 billion naira in three-month papers, 18 billion naira in six-month bills and 53.32 billion naira in one-year bills. Payment for the purchases would be made on Thursday. Nigeria issues treasury bills to fund its budget deficit, manage banking system liquidity and curb ...

Markets - Fixed Income - Middle East & Africa

South Africa's 3-month T-bill average yield steady JOHANNESBURG: South Africa sold 3.55 billion rand in three-month Treasury bills on Friday, at an average yield of 7.54 percent, compared with 7.55 percent last week, central bank data showed.Copyright Reuters, 2016 ...

Markets - Fixed Income - Middle East & Africa

ADFG launches $200mn fund on Abu Dhabi's financial free zone ABU DHABI:: Abu Dhabi Financial Group (ADFG), on Tuesday launched a $200 million fund to invest in Gulf equities, the first fund on the Abu Dhabi Global Market (ADGM). ADGM, the emirate's financial free zone, allows fund managers to set up funds for all types of investors.Some 170 local and international companies have been licensed to operate at ADGM since it opened in October last year.Privately owned ADFG, which currently has $4.7 billion in assets ...

Markets - Fixed Income - Middle East & Africa

South Africa's 3-month T-bill average yield inches up JOHANNESBURG: South Africa sold 3.55 billion rand ($253 million) worth of three-month Treasury bills on Friday at an average yield of 7.55 percent compared with 7.53 percent last week.Copyright Reuters, 2016 ...

Markets - Fixed Income - Middle East & Africa

Saudi Arabia raises $17.5bn in first international bond offering: HSBC PARIS: Saudi Arabia raised $17.5 billion in its first international bond issue, HSBC announced Thursday, after the bank took part in the transaction.Saudi Arabia divided the issue into three tranches with maturities of five, 10 and 30 years respectively, HSBC said.The $5.5 billion in 5-year bonds carries a coupon that pays annual interest of 2.375 percent. A further $5.5 billion of 10-year bonds carries a coupon of 3.25 percent interest and the $6.5 billion in ...