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23 March 03:47 AM

Banking and Finance

The bonds will mature in five years
22 March 12:38 AM QNB’s dollar bond issue oversubscribed by 3x
Mubasher: Qatar National Bank (QNB) on Thursday announced the issuance of $1 billion bonds under the bank’s medium-term note programme. The dollar-dominated bonds will mature in five years, with a 3.5% yield, the Qatar News Agency (QNA) reported. …
Banking and Finance
ADCB’s issued capital will increase to AED 6.8 billion
21 March 06:34 PM ADCB approves merger with UNB
Abu Dhabi - Mubasher: Abu Dhabi Commercial Bank (ADCB), listed on Abu Dhabi Securities Exchange (ADX), on Thursday announced that its general assembly approved its merger with Union National Bank (UNB). Upon the merger, ADCB’s issued capital will …
Mergers and Acquisitions
The greenback recorded around EGP 17.24 for buying and EGP 17.35 for selling on Thursday
21 March 04:35 PM Will USD hover below EGP 17 at national banks? – Analysis
By: Eslam Fadl Cairo – Mubasher: The US dollar has been notably falling against the Egyptian pound since the Central Bank of Egypt’s (CBE) governor stated that the USD/EGP exchange rate would see further volatility. The USD exchange rate against …
Macroeconomics
The lender’s capital stands at AED 5.198 billion.
21 March 03:43 PM ADCB nods to AED 2.39bn dividends for 2018
Abu Dhabi – Mubasher: Abu Dhabi Commercial Bank (ADCB) on Thursday announced that its general assembly has approved distributing cash dividends worth 46 fils per share, or 46% of the share’s nominal value for the year ended 31 December 2018. The …
Cash Dividends
The total value of all conventional bonds and sukuk on Nasdaq Dubai reached $77.28 billion.
21 March 02:06 PM Emirates NBD lists $1bn conventional bonds on Nasdaq Dubai
Dubai – Mubasher: Nasdaq Dubai on Thursday announced that it has welcomed the listing of $1 billion conventional bonds by Emirates NBD. The new listing props up the bank’s activities as one of the region’s leading banking group including Islamic …
Companies Investments
Slashing the frequency of tax collection aims at alleviating burdens on banks
21 March 12:25 PM Egypt to begin quarterly-based tax collection for banks
Cairo – Mubasher: The Egyptian government has approved the amendment of gathering taxes from banks on their sovereign debt holdings on a quarterly basis, instead of a monthly basis, a senior official said. The first round of tax allocation under …
Banking and Finance
The OGM has also agreed to extend the maturity date of the ongoing financing worth $39 million
21 March 11:54 AM ADIB Egypt OGM nods to $30m financing
Cairo – Mubasher: Abu Dhabi Islamic Bank Egypt’s (ADIB) ordinary general meeting (OGM) has approved a $30 million financing from Abu Dhabi-listed ADIB. The financing has a maturity of seven years at an expected interest rate of 9.88% to be …
Banking and Finance
The mandated banks include ANZ, Barclays Bank, Credit Agricole, Deutsche Bank, ING, QNB Capital, and Standard Chartered
21 March 11:33 AM QNB hires 7 banks for dollar bond issue
Mubasher: Qatar National Bank (QNB) on Thursday announced the appointment of seven banks as joint lead managers for its dollar-denominated bond issue as part of its medium-term note programme. The mandated banks include ANZ, Barclays Bank, Credit …
Banking and Finance
The issue will be used to finance the budget deficit.
21 March 10:49 AM CBE issues EGP 18.25bn T-bills Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 18.25 billion on Thursday on behalf of the Ministry of Finance (MOF). The issue will be used to finance the budget deficit, the CBE said. The first …
Central Banks
The biggest state-run bank’s US dollar proceeds amounted to $3 billion in the first two months of this year
20 March 04:00 PM NBE nets $45bn proceeds since EGP flotation
By: Eslam Fadl Cairo – Mubasher: National Bank of Egypt’s (NBE) US dollar proceeds stood at $45 billion since the liberalisation of the exchange rate, the lender’s deputy chairman said on Wednesday. The biggest state-run bank’s US dollar proceeds …
Macroeconomics
NOGA is in talks with international companies to attract private-sector investors to the oil and gas sector
20 March 03:20 PM Bahrain’s NOGA signs $300m deal to finance Saudi exports
Mubasher: Bahrain’s National Oil and Gas Authority (NOGA) on Wednesday signed a $300 million finance deal with the Saudi Fund for Development (SFD). The deal is aimed to finance Saudi exports for the Oil and Gas Holding Company (NOGA Holding), …
Companies Investments
Asian investors made up 46% of the sukuk issue
20 March 11:05 AM Qatar Islamic Bank completes $750mn sukuk issuance
Mubasher: Qatar Islamic Bank (QIB) on Wednesday announced the completion of issuing a $750 million five-year sukuk. Sukuk was priced at par with a profit rate of 3.982% and the order book was closed at $3.1 billion, representing 4.1 times …
Sukuk and Islamic Finance
EGP has risen remarkably against USD on Tuesday
19 March 03:37 PM EGP rises against USD Tuesday
Cairo – Mubasher: The Egyptian pound has risen remarkably against the US dollar on Tuesday at national banks. The USD exchange rate dipped by EGP 0.1 against the EGP to EGP 17.27 for buying and EGP 17.37 for selling at National Bank of Egypt (NBE) …
Currencies
Net profit stood at EGP 1.05 billion in 2018
19 March 12:21 PM EFG Hermes FY18 profit slips 15%
Cairo – Mubasher: EFG Hermes on Tuesday reported a 15% year-on-year decrease in its consolidated profits for fiscal year ended 31 December 2018. Net profit stood at EGP 1.05 billion during the period between January and December 2018, versus EGP …
Cash Dividends
The Kuwaiti lender’s EGM approved raising capital to 6.977 billion shares
19 March 12:14 PM KFH’s OGM approves KWD 125m dividends for 2018
Mubasher: Kuwait Finance House (KFH) on Tuesday announced that its shareholders had approved distributing a cash dividend of 20% of the share’s nominal value, or 20 fils per share, with a total value of KWD 125.1 million for 2018 during an …
Banking and Finance
The energy bank will be launched in the fourth quarter of 2019
19 March 11:36 AM Qatar to launch $10bn energy Islamic bank
Mubasher: Qatar on Tuesday announced the launch of the largest energy-focused Islamic bank with a capital of $10 billion. The energy bank will be launched in the fourth quarter of 2019 with a paid-up capital of $2.5 billion under the umbrella of …
Sukuk and Islamic Finance
The government aims to issue these bonds to cut the state’s debt service burden
19 March 11:29 AM Egypt mulls issuing floating-rate bonds
Cairo – Mubasher: Egypt is considering the possibility of issuing local, floating-rate bonds by linking them to inflation or the Central Bank of Egypt’s (CBE) corridor rate, a senior government official said. The government aims to issue these …
Banking and Finance
Fitch has also maintained the Qatari lender’s viability rating at “bb+”
19 March 11:16 AM Fitch affirms Doha Bank’s rating at “A”; outlook stable
Mubasher: Fitch Ratings has affirmed Doha Bank's long-term issuer default rating (IDR) at “A” with a stable outlook. The international rating agency has also maintained the Qatari lender’s viability rating at “bb+”, according to Doha Bank’s …
Ratings
The USD rate slashed by EGP 0.1 to EGP 0.4 against the EGP on Monday
18 March 03:54 PM USD inches down against EGP Monday
Cairo – Mubasher: The US dollar exchange rate slashed by EGP 0.1 to EGP 0.4 against the Egyptian pound on Monday. The USD rate fell by EGP 0.3 to EGP 17.31 for buying and EGP 17.41 for selling at the National Bank of Egypt (NBE), while it slipped …
Banking and Finance
The bank’s total assets increased by 13.4% to EGP 94.3 billion last month
18 March 02:37 PM Faisal Islamic Bank Egypt’s business volume up 13.7% in February
Cairo – Mubasher: Faisal Islamic Bank of Egypt on Monday posted a 13.7% year-on-year growth in its business volume in February, recording EGP 95.98 billion from EGP 84.4 billion. The bank’s total assets increased by 13.4% to EGP 94.3 billion last …
Banking and Finance
The USD rate yesterday slipped by EGP 0.1 to EGP 17.34 for buying and EGP 17.44 for selling at the NBE, Banque Misr
18 March 11:52 AM EGP marks 2-yr high against USD
Cairo – Mubasher: The Egyptian pound has hit its highest level against the US dollar in two years, as the USD recorded EGP 17.32 for buying and EGP 17.44 for selling at the Central Bank of Egypt (CBE). On Sunday, the USD exchange rate fell by EGP …
Macroeconomics
Egypt issues EGP 1.75bn T-bonds Monday
18 March 10:58 AM Egypt issues EGP 1.75bn T-bonds Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bonds (T-bonds) worth EGP 1.75 billion on Monday on behalf of the Ministry of Finance (MOF). The first tranche of T-bonds will be offered through three-year notes at EGP 1 …
Macroeconomics
Total loans provided in the gas-rich nation amounted to QAR 966.52 billion in February
17 March 04:40 PM Qatar’s bank lending hits $266bn in February
Mubasher: Loans provided by commercial banks operating in Qatar posted a 3.64% year-on-year growth in February, according to the monthly monetary bulletin released by the Qatar Central Bank (QCB). Total loans provided in the gas-rich nation …
Central Banks
The USD rate fell by EGP 0.1 to EGP 17.34 for buying and EGP 17.44 for selling at NBE, Banque Misr
17 March 03:13 PM USD slips against EGP Sunday
Cairo – Mubasher: The US dollar exchange rate on Sunday fell by EGP 0.1 to EGP 0.4 against the Egyptian pound at national banks. The USD rate fell by EGP 0.1 to EGP 17.34 for buying and EGP 17.44 for selling at Egypt’s two largest state-owned …
Macroeconomics
The remaining 1.9% stake was transferred to Olayan Saudi Investment Co.
17 March 03:03 PM Crédit Agricole sells 4.9% stake in BSF at EUR 440m
Riyadh – Mubasher: France-based Crédit Agricole Corporate and Investment Bank on Sunday announced selling its 4.9% stake in Banque Saudi Fransi (BSF) at a value of SAR 1.86 billion (EUR 440 million), or SAR 32.50 per share. Under the transaction, …
Banking and Finance