JPMorgan Chase & Co. is gaining ground in the debt markets of Gulf Cooperation Council states after the biggest U.S. bank helped manage this month’s Islamic bond sale by Saudi Arabia’s utility.
Malaysia’s central bank Governor Zeti Akhtar Aziz said the country’s accelerating inflation doesn’t make her nervous, signaling confidence price increases will remain contained.
The United Arab Emirates property boom may be passing Limitless LLC by as the developer that split off from Dubai World in the fallout following the 2008 credit crunch seeks to delay a loan payment.
Abu Dhabi Islamic Bank PJSC is seeking to bring a boom in Shariah-compliant lending to an expatriate population that dominates the Arab-world’s second- biggest economy.
New York replaced London as the world’s leading financial center for the first time, after the City was rocked by a series of scandals and questions over the U.K.’s place in the European Union.
A better credit rating than U.S. Treasuries will help propel demand for Islamic Development Bank’s first dollar-bond sale in nine months as Persian Gulf investors clamor for the AAA sukuk.
JPMorgan Chase & Co. says investors should buy record-low yielding sukuk from Dubai-based port operator DP World Ltd. and Jebel Ali Free Zone Authority FZE before credit ratings improve.
Growth in Asia’s foreign-currency sukuk issuance is being hindered by capital controls, leaving the Persian Gulf dominating a market that exceeded $17 billion in the past two years.
Morocco plans this year to allow Islamic banking for the first time as the only North African nation with an investment-grade rating at Standard & Poor’s seeks to tap the $1.7 trillion industry.
Islamic bond investors in Qatar’s state-controlled phone company are disregarding this week’s downgrade by Standard & Poor’s, pushing yields to the lowest since the debt was sold as the company expands abroad.