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Oil price surge to trigger GCC bond activity

Posted on 26 April 2010

From Business24-7.ae: Despite an improvement in crude prices and expectations of domestic economic recovery, the debt market in Gulf oil-producing states declined sharply in the first quarter of 2010 because of widening uncertainty and better prospects about growth in bank lending, according to a key Saudi investment firm.

Conventional bond activity in the six-nation Gulf Cooperation Council (GCC) tumbled by nearly 70 per cent in the first quarter of this year compared with its average in the previous three quarters, said NCB Capital, an affiliate of National Commercial Bank, the largest bank in Saudi Arabia by assets…………………………………..Full Article: Source

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