Bahrain offers dollar bond, sukuk to plug growing budget gap

Manama: Bahrain started marketing a three-tranche dollar bond to help plug its budget deficit. The Gulf nation is selling benchmark-size seven-year Islamic bonds as well as conventional debt with a duration of 12 years and/or 30 years, according to a person familiar with the matter, who’s not authorised to speak publicly and asked not to […]

Vodafone gets an idea in India – rebrand to ‘Vi’

Mumbai: Debt-ridden Vodafone Idea said on Monday it is rebranding itself, as the company, which has been losing customers, looks to change its image three years after announcing the merger of two of India’s biggest telecom service providers. Vodafone Idea, a joint venture between Britain’s Vodafone Group and India’s Idea Cellular, said it will go by […]

Oman launches second economic stimulus package

Dubai: The Central Bank of Oman (CBO) has unveiled a number of policy measures — the second since March this year — designed to strengthen the ability of banks and Finance and Leasing Companies (FLCs) to support the country’s economic revival, local media reported. The new measures, set out in a circular issued by CBO […]

Poll: 80% of Filipinos in UAE earn less than Dh10,000, new salary rule could be a boon for ‘escort services’ at NAIA

ABU DHABI/DUBAI: A move to raise the minimum salary to Dh10,000 to enable Filipino expats to bring family members over to the UAE on a visit has kicked up a storm among overseas Filipino workers here. The new rule imposed by Manila raises the salary threshold from Dh3,500 and took effect from August 24, 2020. […]