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UAE's Etisalat plans 3.1bn euro bond issue in four tranches DUBAI: Abu Dhabi's Etisalat plans a bond issue worth up to 3.1 billion euros ($4.22 billion) split into four tranches, according to a document from lead arrangers provided on Monday. The United Arab Emirates' largest telecom operator is considering two dollar tranches of the bond, of probably five- and 10-year tenors, plus two euro-denominated tranches of seven and 12 years' duration. This confirms the structure which sources told Reuters last week the operator was planning. Etisalat, which last month mandated banks for the bond issue, may also issue a 30-year tranche, the document stated. No time frame for the issue was given in the document.Etisalat is meeting fixed income investors in London on Monday and Tuesday, having already held roadshows in the Middle East, Asia and continental Europe. Copyright Reuters, 2014 ...

Saudi Arabia to discuss proposal for sovereign wealth fund DUBAI: Saudi Arabia's Shura Council, an influential advisory body to the government, will discuss a proposal for the country to establish a sovereign wealth fund that would invest some of its vast oil earnings, local media reported.The National Reserve Fund would "guarantee the financial stability of the kingdom" by investing its reserves, Saad Mareq, head of the council's financial committee, was quoted as telling the pan-Arab Asharq al-Awsat daily on Saturday.Details of its investment strategy ...
Egypt studying international bond issue: sources CAIRO: Egypt's finance ministry is studying the possibility of issuing its first international bond since 2010, two officials told Reuters, as investor confidence in the country gradually returns after the turmoil which followed the 2011 revolution.A government official with knowledge of the matter said Egypt had discussed with banks the possibility of an international eurobond issue of between $750 million and $1 billion, "whenever the time and need is appropriate to cover the budget gap".A ...
South Africa's rand firmer, could weaken if GDP below forecasts JOHANNESBURG: South Africa's rand touched a 1-1/2 week high against the dollar on Friday, supported by a risk-positive global environment, but could retreat next week if GDP data comes in weaker than expected, undermining the case for more rate hikes this year. By 1535 GMT the rand was trading at 10.3055 to the greenback, up 0.22 percent from Thursday's New York close at 10.3280. Government bonds were little changed from their previous close, with the ...
Egyptian T-bill yields fall for second auction in a row CAIRO: Average yields on Egyptian 91- and 266-day treasury bills fell for the second auction in a row on Sunday, coming down from their high of several months, days before Egypt is due to hold presidential elections.For the 91-day t-bill, average yields fell to 10.449 percent from 10.564 percent. For the 266-day bill, they fell to 10.787 percent from 10.942 percent at their last auction on May 11. Sunday's yields were the lowest for the ...
Nigeria to raise 121bn naira in T-bills LAGOS: Nigeria plans to raise 121.32 billion naira ($747 million) via short-dated treasury bills at an auction next week, the central bank said on Wednesday. The bank said it will sell 20.64 billion naira of 91-day paper, 25 billion naira of 182-day treasury bills and 75.68 billion one-year paper, using the Dutch Auction System. Copyright Reuters, 2014 ...
Kenya central bank says to auction 15bn shillings of 2 year T-bonds in May NAIROBI: Kenya's central bank said on Thursday it will auction up to 15 billion shillings ($172 million) of two-year Treasury bonds in May. Sale proceeds will be used for budgetary support, the Central Bank of Kenya said. The bonds will be on sale between May 7 and May 20 and auctioned on May 21. At the last sale of two-year bonds in March, the weighted average yield fell to 10.803 percent from 11.553 percent previously. ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln