Qatar is hoping to cash in on demand for high-quality credit following a slow year for bond sales.
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Qatar's government has picked six banks for a sovereign bond issuance, as it increases investment in infrastructure projects and construction works to prepare the country for hosting the 2022 FIFA World Cup.
Selected for the bond sale were Citi, JPMorgan, HSBC, Mitsubishi UFJ Financial Group, Qatar National Bank and Standard Chartered, Reuters reported.
Qatar is planning to spend US$150 billion (Dh551.01bn) on infrastructure during the next five years, said the country's ministry of economy and finance. The sovereign issuance would be Qatar's first since 2009.
The Gulf state, where the IMF estimates GDP will grow at 18.7 per cent this year, has the strongest credit rating in the Gulf alongside Abu Dhabi. Standard & Poor's rates the country "AA", while Moody's Investors Service rates Qatar's government "Aa2".
Issuances by Qatari companies have been "few and far between" this year, said Mark Watts, the head of fixed income at the National Bank of Abu Dhabi.
But a successful issuance by the Qatari government may reopen credit markets, he added.
"We've been hearing that a number of Qatari banks want to come to market, and you'd expect issuances from most of the big players," he said.
A January sale of bonds worth 50bn Qatari rials (Dh50.46bn) by the Qatar Central Bank to local lenders, intended to mop up excess liquidity in the banking system, was the last major issuance.
But a number of banks have laid the groundwork for new debt sales. Doha Bank is holding investor meetings next month for a benchmark bond offering in the first quarter of next year, said Sanjay Jain, the bank's deputy chief financial officer. Benchmark bonds are typically about $500m in size.
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Bharat
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Starring: Salman Khan, Katrina Kaif, Sunil Grover
Rating: 2.5 out of 5 stars
The specs: 2018 Renault Koleos
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Fuel economy, combined: 8.3L / 100km
Engine: 5.6-litre V8
Transmission: seven-speed automatic
Power: 400hp
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Price: Dh234,000 - Dh329,000
On sale: now
Western Region Asia Cup Qualifier
Results
UAE beat Saudi Arabia by 12 runs
Kuwait beat Iran by eight wickets
Oman beat Maldives by 10 wickets
Bahrain beat Qatar by six wickets
Semi-finals
UAE v Qatar
Bahrain v Kuwait
Story of 2017-18 so far and schedule to come
Roll of Honour
Who has won what so far in the West Asia rugby season?
Western Clubs Champions League
Winners: Abu Dhabi Harlequins
Runners up: Bahrain
Dubai Rugby Sevens
Winners: Dubai Exiles
Runners up: Jebel Ali Dragons
West Asia Premiership
Winners: Jebel Ali Dragons
Runners up: Abu Dhabi Harlequins
UAE Premiership Cup
Winners: Abu Dhabi Harlequins
Runners up: Dubai Exiles
Fixtures
Friday
West Asia Cup final
5pm, Bahrain (6pm UAE time), Bahrain v Dubai Exiles
West Asia Trophy final
3pm, The Sevens, Dubai Hurricanes v Dubai Sports City Eagles
Friday, April 13
UAE Premiership final
5pm, Al Ain, Dubai Exiles v Abu Dhabi Harlequins
Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
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The biog
Simon Nadim has completed 7,000 dives.
The hardest dive in the UAE is the German U-boat 110m down off the Fujairah coast.
As a child, he loved the documentaries of Jacques Cousteau
He also led a team that discovered the long-lost portion of the Ines oil tanker.
If you are interested in diving, he runs the XR Hub Dive Centre in Fujairah
The specs
Engine: 3.8-litre twin-turbo flat-six
Power: 650hp at 6,750rpm
Torque: 800Nm from 2,500-4,000rpm
Transmission: 8-speed dual-clutch auto
Fuel consumption: 11.12L/100km
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ZAYED SUSTAINABILITY PRIZE
WHAT%20IS%20THE%20LICENSING%20PROCESS%20FOR%20VARA%3F
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Tips for newlyweds to better manage finances
All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.
Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.
Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.
Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.
Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.
Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.
The biog
Birthday: February 22, 1956
Born: Madahha near Chittagong, Bangladesh
Arrived in UAE: 1978
Exercise: At least one hour a day on the Corniche, from 5.30-6am and 7pm to 8pm.
Favourite place in Abu Dhabi? “Everywhere. Wherever you go, you can relax.”
The specs
Engine: 4.0-litre flat-six
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Transmission: 7-speed PDK auto or 6-speed manual
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On sale: Available to order now
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Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Euro 2020
Group A: Italy, Switzerland, Wales, Turkey
Group B: Belgium, Russia, Denmark, Finland
Group C: Netherlands, Ukraine, Austria,
Georgia/Kosovo/Belarus/North Macedonia
Group D: England, Croatia, Czech Republic,
Scotland/Israel/Norway/Serbia
Group E: Spain, Poland, Sweden,
N.Ireland/Bosnia/Slovakia/Ireland
Group F: Germany, France, Portugal,
Iceland/Romania/Bulgaria/Hungary
Indoor cricket in a nutshell
Indoor Cricket World Cup - Sep 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
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