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About: http://data.cimple.eu/news-article/b0f4e49dac86ce2cbeff5336a8ca570e053df2aabc8833753376b442 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	The emirate of Abu Dhabi said on Sunday it had sold $7 billion of bonds in the third major sale this month by Gulf sovereigns seeking to counter slumping oil prices. OPEC kingpin Saudi Arabia last week raised $7 billion in a bond sale, while gas-rich Qatar sold bonds worth $10 billion two weeks ago. Abu Dhabi, which has the biggest sovereign wealth fund in the Gulf Cooperation Council (GCC), said that its offering was oversubscribed by more than six times. The transaction contained three tranches -- a $2 billion five-year tranche, a $2 billion 10-year segment, and a third tranche of $3 billion maturing after 30 years -- the Abu Dhabi department of finance said in a statement. The richest of seven sheikhdoms that make up the United Arab Emirates, Abu Dhabi sits on the bulk of the federation's oil wealth. Saudi Arabia's finance ministry said its international bond issuance attracted bids worth $54 billion, more than seven times the value of its offering. Qatar's finance ministry said its own sale was oversubscribed by more than four times. The Kuwaiti government has sent legislation to parliament seeking to borrow $65 billion over the next 10 years. The six GCC member states, which also include Bahrain and Oman, depend heavily on oil income for between 65 percent and 90 percent of public revenues. Global oil prices have slumped this year due to population lockdowns to forestall the spread of coronavirus and a price war between Saudi Arabia and Russia. An agreement by OPEC and its allies, including Russia, to cut output by a record 9.7 million barrels per day last week failed to revive prices. According to the International Monetary Fund, the combined economies of GCC states are forecast to shrink by 2.7 percent this year. bur-oh/dm/dwo
schema:headline	Abu Dhabi borrows $7bln as low oil price bite
schema:mentions	Gulf Cooperation Council OPEC Sovereign wealth fund Oman Abu Dhabi Bahrain International Monetary Fund United Arab Emirates Qatar Saudi Arabia Russia Coronavirus Emirates of the United Arab Emirates Tranche Price war
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-04-19 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	65 (xsd:integer)

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