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The Gulf kingdom is trying to tackle a very wide deficit and sky-high debt to GDP
Gulf investors 'will now look at every deal', whether sukuk or not
Demand from the Middle East for the sukuk was steady
Bond pricing for the mining company started about 43bp back of its parent
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The ( SC ) has filed a civil suit against RBTR Asset Management (RBTR) and 7 other defendants for various breaches of the securities laws.
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The Republic of Indonesia hit its target of Rp1.5tn rupiah ($155.2m) of domestic sukuk this week as it looks to bridge its budget deficit. The sale on Tuesday – its first of Islamic offering of the year – saw an auction of six month Treasury bills as well as five to 24 year project based sukuk.
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Malaysian property and education group Paramount Corporation has established a MR350m ($113.1m) debut sukuk programme. This will pay for its subsidiary, KDU University College, to build a campus at Utropolis in Glenmarie, Shah Alam.
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Bank of London and the Middle East has added two senior appointments to its leasing team in London. Robert Harris and Simon Lefevre will join the Shariah compliant bank this month as directors and report to team head Fred Yue, who joined BLME in September.
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Malaysia’s DanaInfra Nasional has said that its MR300m 10 year debut retail sukuk, listing on Friday, will have an upper trading limit of MR1.10 and 90 sen lower limit. The sale – the first retail sukuk in Malaysia – will raise money to partly fund the country’s MR15bn Sungai Buloh-Kajang mass rapid transit rail project.
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Global Banking Corporation (GBCorp), a Shariah-compliant investment bank based in Bahrain, has hired Zakaria Ahmed Hejris as its chief executive officer. He assumes the role following the departure of former CEO Oscar Silva in June last year.