You are hereHome CategoriesNews
UAE central bank may buy Dubai bonds, says Barclays Capital
Source: BI-ME and Bloomberg , Author: BI-ME staff
Posted: Mon August 3, 2009 10:34 am

UAE. The central bank of the UAE probably will be among the biggest buyers of more bonds being sold by the Dubai government, Barclays Capital said.

The central bank may subscribe alongside a few Dubai-based banks, Barclays Capital economist Alia Moubayed told Bloomberg.

Central Bank Governor Sultan bin Nasser al-Suwaidi said on 15 July the UAE may buy part of Dubai’s bond sale after purchasing the first tranche in February.

Dubai is raising funds to help state-controlled companies through the global credit crisis and has issued a decree setting up a company to manage the proceeds, the emirate’s Department of Finance said last month.

Emirates Business 24/7 reported today that Ajman Bank, part-owned by the government of the emirate of Ajman, may subscribe to the second half of the bond program.

Dubai has already spent at least half of the US$10 billion raised from the sale of five-year bonds in February to the U.A.E. central bank. The sale was part of a US$20 billion medium- term note program and the second tranche is expected to be sold before the end of the year.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: February 13, 2016
QATAR. The turmoil in financial markets at the beginning of this year has prompted some to question whether the US Federal Reserve should have increased interest rates in December.
date:Posted: February 13, 2016
KUWAIT. Kuwait has built up very large fiscal and external net asset positions over many years, which will continue to help it weather the current low oil price environment; The overall fiscal and external balance sheets will remain strong, backed by a significant stock of financial assets.
date:Posted: February 12, 2016
INTERNATIONAL. A Syria in which the regime and IS, rather than other rebel groups, are the only real domestic players turns Bashar al-Assad into a pivotal cog in the fight against jihadism. That is something Saudi Arabia cannot allow to happen. To turn the tide, it needs a United States that is engaged and willing to do its bit.
KUWAIT. Kuwait has built up very large fiscal and external net asset positions over many years, which will continue to help it weather the current low oil price environment; The overall fiscal and external balance sheets will remain strong, backed by a significant stock of financial assets.
dhgate
Monogram Ring