Saudi wealth fund to jump on the green debt bandwagon
Saudi Arabia's sovereign wealth fund will soon announce its first green debt issuance, with borrowing linked to sustainability, according to Reuters. This will be the first issuance of its kind done by a sovereign fund, Yasir Al Rumayyan, governor of the Public Investment Fund, said during a virtual conference.
Green debt issuance is on the rise in MENA after the value of green and sustainability-linked debt sales in the MENA region rose by 38% y-o-y in the first six months of 2021. Egypt became the first country in the region to issue sovereign green bonds last year, raising USD 750 mn.
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EGX30 |
10,596 |
+0.9% (YTD: -2.3%) |
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USD (CBE) |
Buy 15.66 |
Sell 15.76 |
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USD at CIB |
Buy 15.66 |
Sell 15.76 |
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Interest rates CBE |
8.25% deposit |
9.25% lending |
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Tadawul |
11,270 |
-0.4% (YTD: +29.7%) |
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ADX |
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DFM |
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S&P 500 |
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FTSE 100 |
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Brent crude |
USD 76.19 |
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Natural gas (Nymex) |
USD 4.77 |
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Gold |
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BTC |
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THE CLOSING BELL-
The EGX30 rose 0.9% at yesterday’s close on turnover of EGP 1.2 bn (23.9% below the 90-day average). Regional investors were net buyers. The index is down 2.3% YTD.
In the green: Pioneers Holding (+7.6%), Raya (+6.5%) and Cleopatra Hospitals (+4.7%).
In the red: Credit Agricole (-0.9%), Fawry (-0.5%) and CIRA (-0.2%).
Asian markets are mixed this morning, with the Nikkei and Kospi both in the red while shares in Hong Kong and Shanghai are in the green. Futures suggest shares in Paris, London, Frankfurt will open in the green later this morning — and that both Bay Street and Wall Street will follow suit later today.