The dollar bonds sold on Wednesday mature in both 2029 and 2050 and attracted $27bn of orders. Saudi Arabia will pay a yield of 4.48 per cent on the bonds maturing in 2029, and 5.328 per cent on the 2050 debt.
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Daily headlines from the UAE and around the world brought to you by Gulf News.
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NewsTranscript
00:00Hello and welcome to Gulshan's daily business wrap-up.
00:05Today we are going to talk about big money coming to Saudi and to the rest of the Minar
00:09region.
00:10Saudi staged a comeback to the global bond market by attracting bids of $27 billion for
00:15a bond of $7.5 billion.
00:18The Minar region saw a total of 3.28 billion dirhams worth of funding in startups following
00:24a record number of deals last year.
00:28Funding was up 31% on 2017 when excluding the outlier $200 billion raised by Karim last
00:37year distributed among top transactions, according to a report released on Wednesday.
00:43The most-watched Emirates NBD Purchase and Managers Index fell to 54% reading in December
00:50compared to 55.8% in November.
00:52This signalled the weakest improvement in business conditions since October.
00:56Businesses generally remained optimistic that business activity will continue to increase
00:59over the course of 2019.
01:01Optimism was based on expectations of improving economic conditions and success in securing
01:07additional sales over the next 12-month period.