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Middle East & Africa


DUBAI: Dubai plans to use proceeds from its planned benchmark Islamic bonds to cover its budget deficit and debt refinancing needs, a senior government official told Reuters on Tuesday. "The plan is to issue a benchmark size bond. Proceeds will be used to cover budget deficit and refinancing of debt," the official, who spoke on condition of anonymity, told Reuters. "Dubai International Airport assets will be used to back the sukuk," he said. Copyright Reuters, 2012 ...

JOHANNESBURG: The rand leapt and South African government bond yields logged their steepest drop in nearly three years on Tuesday as news that local debt could be included in Citigroup's main global bond index boosted demand from local and foreign accounts. The rand jumped more than 1.8 percent against the dollar, performing the best among 20 emerging market currencies on the view that inclusion in Citigroup's World Government Bond Index could trigger billions of dollars worth ...
CAIRO: Egypt's central bank said it sold 3.5 billion Egyptian pounds ($579.8 million) in three and five-year bonds on Monday, the same amount it had offered. It sold 2 billion pounds in reopened three-year bonds at an average yield of 16.12 percent, with yields ranging from 16.05 to 16.15 percent. The bonds have a 16.15 percent coupon and mature on April 3, 2015. It also sold 1.5 billion pounds in new five-year bonds at an average yield ...
JOHANNESBURG: South African government bonds weakened on Thursday due to heightened risk aversion emanating from the euro zone, although movements were exaggerated by thin trading volumes ahead of the Easter market holiday. The rand was at 7.827 against the dollar at 1540 GMT, little changed from Wednesday's New York close of 7.832.    Earlier in the session the currency had been under pressure due to concerns about sovereign debt risk in the euro zone after a poor Spanish ...
CAIRO: Egypt's Ministry of Finance will offer 3.5 billion Egyptian pounds ($579.6 million) in bonds at an auction on April 9, the central bank said on Monday. It will offer 2 billion pounds in reopened three-year bonds maturing on April 3, 2015 with a coupon of 16.15 percent, and 1.5 billion pounds in five-year bonds maturing on April 10, 2017, the bank said. Settlement for the bonds, which the central bank is selling on behalf of the ...
CAIRO:Egypt's central bank sold re-opened three-year and five-year bonds worth 4 billion Egyptian pounds ($662.67 million) on Monday, the same amount that was offered, the Ministry of Finance said. The three-year bonds, totalling 2 billion pounds, mature onJan. 17, 2015, and have a coupon of 16.15 percent. Yields ranged from 16.16 to 16.28 percent, with an average of 16.25 percent. The five-year bonds mature onJan. 17, 2017, and have a coupon of 16.35 percent. The yields ranged ...
Kenya 1-year bond yield seen lower on heavy demand           NAIROBI: Kenya's one-year Treasury bond yield is expected to fall further at an auction this week thanks to heavy subscription which would allow the central bank, keen to bring down the cost of domestic borrowing, to reject less favourable bids. The Central Bank of Kenya will auction the new one-year bond worth up to 10 billion shillings ($120 million), whose coupon will be set by the market at its sale on March 20. Fixed income analysts said ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln