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Sunday, 23 October 2016

Saudi’s influential bond, cheap Russian wheat and Time Warner-AT&A MegaMerger

Bond markets across MENA are “stirring” in the wake of Saudi Arabia’s record USD 17.5 bn issue, Bloomberg reports. The knock-on effects of the offering on KSA and the wider Gulf Cooperation Council countries could be substantial, says Franklin Templeton’s Mohieddine Kronfol: “The new bonds will "help develop the kingdom’s debt markets by introducing a more sophisticated type of investor. There are also positive ripple effects for GCC fixed income as well as more global investors take a closer and longer-term look at the region." Here’s hoping our eurobond will be as successful.

Any chance we might get a bargain on some Russian wheat? The best Russian wheat crop since the fall of the Berlin Wall has “sent prices tumbling,” but exports haven’t grown as the resurgent ruble has made sales less competitive, Bloomberg reports.

MegaMerger: AT&T and Time Warner have agreed to a USD 85.4 bn merger that would create the world’s largest media company. The WSJ broke the story. See also coverage from the NYT, CNN Money and Reuters, depending on your preferences and subscriptions.

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