Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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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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ABC Islamic Bank has reported a $2.8m net profit in its third quarter, a 75% increase on the $1.6m it earned in the same period last year. The result was also 15% better than its 2012 second quarter $2.4bn net profit and brings the first nine months total to $6.8m. This is up from $6.7m in the first nine months of 2011.
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Sharjah-based Dana Gas looks set to begin a protracted restructuring of its debt with creditors from next week, with the oil and gas explorer and producer having yet to find a solution to its looming sukuk maturity.
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The government of Oman is looking to amend its tax rules to facilitate Islamic finance. It has asked KPMG to advise it on the move, which it hopes will help Islamic financial institutions compete on level terms against their conventional peers.
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Karachi, October 23, 2012: JCR-VIS Credit Rating Company Limited (JCR-VIS) has assigned final rating of ‘AA’ (Double A) to the Participatory Term Certificates (PTC) of Treet Corporation Limited (TCL) after examination of the signed legal documents. Outlook on the rating is ‘Stable’.
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The Islamic finance market is having arguably its best year ever. After a catalogue of breakthroughs, the industry has plenty to celebrate and every reason to look forward to an even better 2013. So why is it so downbeat?
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VTB Capital has appointed Raza Agha as chief economist for Middle East and Africa. He will be based in London and report to Alexander Pukhaev and Dmitry Dmitriev, global co-heads of research.