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Middle East & Africa


LONDON: Kenyan Treasury bill yields are likely to fall to single digits for the first time since September at an auction next week, while healthy demand is expected at Zambia's first bond auction in two months on Thursday. KENYA Yields on Kenyan Treasury bills are set to fall into single digits at an auction next week, a level last seen in September, dragged down by high demand and lower inflation. Rates at the short end of the curve have fallen by about 300 basis points at auctions in the past two weeks as a build-up in liquidity from debt redemptions fuelled demand. The Central Bank of Kenya is due to auction 2 billion shillings ($23.7 million)of 182-day bills on Wednesday and 2 billion shillings of 91-day bills on Thursday. The bank is also offering a new 5-year bond worth 3 billion shillings with bids closing on Tuesday. Traders are expecting heavy demand, mainly from commercial ...

DUBAI: Qatar is planning to issue its first international Islamic bond, or sukuk, IFR Markets, a unit of Thomson Reuters reported on Wednesday. Qatar has sent a request for proposals to banks and is close to mandating arrangers, IFR said, citing sources it did not identify. The sukuk is expected some time in the second quarter, before the summer break, the sources said. The world's biggest natural gas exporter last tapped global debt markets with a $5 ...
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 ...


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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
WeeklyMay 21, 2015
Reserves $17.75 bln