UAE rules out federal sovereign bond
Dubai, March 13, 2012
The United Arab Emirates is not planning to issue a sovereign bond over the next two years, Finance Minister Sheikh Hamdan bin Rashid al-Maktoum said on Tuesday.
Other senior finance ministry officials had previously been quoted as saying the UAE's debut sovereign bond could come at the end of 2012 and be about $1 billion.
Asked whether the country had any plans to issue a bond this year or in 2013, Sheikh Hamdan said: "No, we don't have."
He was speaking on the sidelines of an energy exhibition in Dubai. - Reuters
More Finance & Capital Market Stories
- Bahrain mulls solvency rules for Takaful industry
- LuLu Exchange opens 3rd branch in Bahrain
- Saudi economic growth picks up in Q3
- GIH picks ex-Barclays banker as investment head
- Jeddah Economic Company names new CEO
- Saudi real GDP growth surges to 3.1pc in Q3
- UAE business activity growth hits record high
- Global Islamic banking assets ‘set to top $1.7trn’
- Egypt back in business, says new survey
- United Arab Bank backs UAE-Turkey business