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Middle East & Africa


Nigeria to issue diaspora bond in 2012        LONDON: Nigeria will issue a diaspora bond next year to raise funds for infrastructure and development projects, the head of its Debt Management Office (DMO) said on Thursday. Africa's biggest oil producer will also introduce inflation-linked bonds in 2012 in a bid to develop the domestic bond market, Abraham Nwankwo, director-general of the agency, told Reuters in a phone interview. "Nigeria is most likely to have a diaspora bond in the market in 2012," he said. "We are working seriously on it." He said the DMO had received the backing of finance minister Ngozi Okonjo-Iweala, a keen advocate of tapping the wealth of migrants to finance infrastructure projects in their home countries. "The finance minister has talked about diaspora bonds," Nwankwo said. "She has given us instructions to progress on that." Nwankwo said the size of the diaspora bond was yet to be determined but stressed that its proceeds would be used for "specific, ...

IPIC eyes two-tranche dollar bond DUBAI: Abu Dhabi investment vehicle International Petroleum Investment Co (IPIC) plans to issue a dual-tranche, benchmark-sized dollar-denominated bond, according to lead arrangers, for debt repayment and general corporate purposes. The bond is expected to price later on Thursday, one source at an arranging bank said. A benchmark-sized issue is usually understood to mean at least $500 million in value. Initial price talk for the long five-year tranche maturing 2017 was at about 275 basis ...
Kenya T-bill, bond yields rise at sale, demand poor NAIROBI: The yields on Kenya's 182-day Treasury bill and 2-year Treasury bond rose in a poorly subscribed auction on Wednesday and the central bank rejected most of the bids. The six-month Treasury bills rose to 15.364 percent from 15.287 percent previously while the yield on the 2-year Treasury bond rose to 16.526 percent from 13.897 percent at the last auction in September, central bank said in a statement. Both auctions drew very weak demand, with the Treasury ...
Egypt sells 5bn Egyptian pounds in T-bills, yields fall  CAIRO: Egypt's central bank sold 5 billion Egyptian pounds ($837.65 million) in domestic treasury bills on Sunday, the same amount it had offered, the Finance Ministry said. The central bank sold 1.5 billion pounds of 91-day T-bills on behalf of the ministry. The average yield fell to 12.431 percent from 12.609 percent at last week's auction. It also sold 3.5 billion pounds of 273-day T-bills and the average yield fell to 13.625 percent from 13.759 percent at ...
Samba, Riyadh bank post strong Q3 profits JEDDAH: Saudi's Riyadh Bank beat analysts' expectations after it posted a 30 percent rise in its third quarter net profits, while Samba Financial Group posted a 2.9 percent rise, in line with expectations, bourse statements said on Saturday. Riyad Bank made 794 million riyals ($211.7 million) in the three months ending September 30, compared with 611 million riyals in the same period a year earlier, it said. Analysts surveyed by Reuters expected the bank to post on ...
South Africa to auction 2017 and 2041 gov JOHANNESBURG: South Africa's Treasury said on Wednesday it would sell 1 billion rand's ($126 million) worth of the 2017 government bond and 1.1 billion rand of the 2041 issue at a weekly auction next Tuesday. Copyright Reuters, 2011 ...
South Africa rand softens against dollar, bonds retreat   JOHANNESBURG: South Africa's rand softened against the dollar on Tuesday but significant weakness is unlikely as greenback sellers should give it support at the 7.90 level. The rand hit two-week highs of 7.806 before retreating and government bonds also took a breather after hitting multi-week highs. A weekly debt auction, with results out after 0900 GMT, is expected to indicate whether local bonds are attractive and whether buyers are taking advantage of recent weakness. ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln