08242016Wed
Last update: Wed, 24 Aug 2016 07am

Middle East & Africa

Markets - Fixed Income - Middle East & Africa

Riding on the Dubai property roller coaster DUBAI: For more than 10 years Dubai property prices have been on a roller coaster, creating and wiping out fortunes, but recently they appear to have run out of steam.The Gulf emirate shot to prominence as an attractive real estate market after opening up special freehold zones for foreign buyers in 2002.Prices peaked in 2008, driven mainly by speculative investments, but later nosedived as finances dried up because of the global financial crisis, shedding half the sector's value.Renewed demand boosted values and rents at breakneck speed between 2012 and 2014, stirring fears of yet another bubble until prices headed south again, though more slowly this time.Last year prices fell by an average of 12 percent, according to Craig Plumb, head of MENA research at property consultancy Jones Lang LaSalle."The market is having something of a soft landing at the moment, so the prices have been now falling for over a ...

Markets - Fixed Income - Middle East & Africa

Egypt's yields on 91-day, 266-day T-bills rise at auction CAIRO: Yields on Egypt's three-month and nine-month treasury bills rose at auction on Sunday, central bank data showed. The average yield on Egypt's 91-day bill rose to 13.350 percent from 12.914 percent at the last sale on April 17. The yield on the 266-day bill rose to 14.399 percent from 14.101 percent at a similar auction on April 17. Copyright Reuters, 2016 ...

Markets - Fixed Income - Middle East & Africa

Yields drop on Egyptian debt at Monday auction CAIRO: Egypt's five-year bond yield drop at Monday's auction, data from the central bank showed. The average yield on the five-year treasury bond dropped to 15.658 percent from 15.678 percent at the last auction on March 28. Copyright Reuters, 2016 ...

Markets - Fixed Income - Middle East & Africa

Togo to auction 2-year bond of 35bn CFA on March 30 ABIDJAN: Togo will issue a two-year bond of 35 billion CFA franc ($59.77 million) on March 30, West Africa's regional debt planning agency said. The bond, which will have a multiple rate, will be sold in units of one million CFA francs to investors across the eight-nation CFA franc currency zone via an auction organized by the Central Bank of West African States, a statement by UEMOA-Titres said late on Monday.Copyright Reuters, 2016 ...

Markets - Fixed Income - Middle East & Africa

Egypt's 5-year, 10-year treasury bond yields jump at Monday's auction CAIRO: Egypt's 5-year and 10-year treasury bond yields jumped at Monday's auction, data from the central bank showed, hours after the central bank devalued the pound in a special foreign currency auction, as bankers expect an imminent rate hike. Egypt's central bank devalued the pound on Monday and said it would move to a more flexible exchange rate policy in an effort to rebalance markets and ease a foreign exchange shortage that had stifled business ...

Markets - Fixed Income - Middle East & Africa

Yields on Kenya 364-day, 182-day T-bills fall NAIROBI: The weighted average yield on Kenya's 364-day Treasury bills fell to 12.838 percent at auction on Wednesday from 13.250 percent last week, the central bank said. The yield on the 182-day bill dropped to 11.267 percent from 11.925 percent last week. The bank received bids worth 22.8 billion shillings ($225 million) for the 12 billion shillings it offered across the two bonds. It accepted 15 billion shillings. Next week, the bank will sell bills ...

Markets - Fixed Income - Middle East & Africa

Yields on Uganda's Treasury bills fall at auction KAMPALA: Rates on Uganda's Treasury bills fell on all tenors at an oversubscribed auction on Wednesday, where a total of 185 billion shillings ($55.39 million) worth of debt was on offer.The rate on the benchmark 91-day Treasury bills fell to 18.417 percent at the sale from 20.993 percent at the last auction on February 17.Copyright Reuters, 2016 ...