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  • Banking and Finance
    Saudi Arabia’s Riyad Bank sells $1.5 billion 10-yr Islamic bonds

    Saudi Arabia’s Riyad Bank has sold $1.5 billion in 10-year dollar sukuk, callable after five years, at 180 basis points (bps) over five-year mid-swaps, a document showed on Tuesday. The bank garnered more than $7.8 billion in orders for the sukuk, or Islamic bonds, the document said. It tightened the spreads after it had initially started marketing the bonds at around 225 bps over mid-swaps earlier on Tuesday.

  • Taliban Talks
    Taliban says US peace deal to be signed at February end

    Abdul Salam Hanafi, a senior Taliban leader and member of the political commission in Doha, Qatar, said in a video message shared with journalists that after negotiations, “both sides have initiated the final draft of the peace agreement. Now talks are concluded.” This is the first formal statement released by the Taliban since the United States announced a peace deal with the movement on Friday.

  • Industry
    Saudi Industry Minister Announces Near Launch of Bank of Exports

    Saudi Industrial Development Fund (SIDF) capital has been raised from $17.3 billion to $28 billion, said the Minister, adding that the fund designed financing programs that are not limited to fixed assets.

  • Saudi Aramco
    Reliance’s Mukesh Ambani and Saudi Aramco Accelerate Stake Talks

    Reliance Industries Ltd.’s talks to sell a minority stake in its oil-to-chemical division to Saudi Aramco have been gathering pace in recent weeks, according to people familiar with the matter. Aramco officials and bankers on the deal have been working at Reliance’s offices in Mumbai for due diligence this month, according to the people, who asked not to be identified as the information isn’t public. Both parties are trying to overcome differences over the deal’s structure, which had stalled the process last year, Bloomberg News previously reported.

  • Riyad Bank
    Saudi Arabia’s Riyad Bank starts marketing 10-yr dollar sukuk

    The bank hired JPMorgan, Riyad Capital and Standard Chartered to lead the deal. First Abu Dhabi Bank and HSBC are also involved in arranging the potential debt sale, which is expected to close later on Tuesday. The Tier 2 subordinated sukuk sale is part of a $3 billion issuance programme.

  • No let up in Taliban attacks, fresh orders awaited over deal with U.S.

    Last week, a senior U.S. administration official said negotiations with Taliban representatives in Qatar had resulted in and agreement in principle for a week-long reduction of violence, but the seven-day period had not commenced. The official said the agreement covered all Afghan forces, and would be closely monitored.

  • Taliban Truce With U.S.: Congress Needs to See the Details

    In the last year, Congress has begun to claw back its constitutional power to declare war. A possible U.S. truce with the Taliban will show whether the legislative branch is willing to reassert its peace-making power as well. The latest example of Congress’s renewed interest in its war-making authority is its 55 to 45 vote last week in the Senate limiting the president’s ability to attack Iran unless he gets explicit authorization from Congress. This followed a vote last year to end U.S. military participation in the Saudi-led war in Yemen.

  • Saudi Arabia urges Germany to lift arms export ban

    The Saudi foreign minister has told a German news agency that the current export ban went against "the good relations" between the countries. Yet he also warned that Saudi Arabia is far from dependent on German arms.

  • Reema bint Bandar interview: Saudi Arabia is Washington’s Closest Partner in Region

    The greatest challenge Saudi Arabia is facing in the US is the stereotypical image that some sides still have of the Kingdom, she lamented. But even this image is being broken down in the US and in different parts of the world as the Kingdom continues along the path of its Vision 2030.

  • Lebanon
    Lebanon weighs defaulting Eurobond next month

    Lebanon’s finance minister said Thursday that its new government is weighing whether to pay or default on its $1.2 billion Eurobond maturing next month, amid an economic crisis that has sparked months of unrest. Lebanon is facing a deepening liquidity crunch and a soaring public debt. Lebanese banks raised interests rates in a bid to attract foreign investments — but now the influx of foreign currencies has dried up and the Central Bank’s foreign currency reserves are shrinking.