CBB Government Development Bond Issue No.39 oversubscribed
Manama, Bahrain – The Central Bank of Bahrain (CBB) announces that the issue of the 2-year Government Development Bond has been oversubscribed by 308%.
Subscriptions worth BD 771.073 million were received for the BD 200 million issue, which carries a maturity of 2 years.
The fixed annual coupon rate on the issue, which begins on 29th April 2025 and matures on 29th April 2027, is 5.75%.
The Government Development Bonds are issued by the CBB on behalf of the Government of the Kingdom of Bahrain.
This is Government Development Bond issue No.39 (ISIN BH0006L926V8).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
19 hours ago
- Zawya
India's iron ore imports to trend higher, but it's no China: Russell
(The views expressed here are those of the author, a columnist for Reuters.) LAUNCESTON, Australia - The rise of India's steel sector is touted as a boost for iron ore miners seeking to find new markets as China's output eases, but the reality is likely to fall short of the hype. India's steel-making capacity is currently about 200 million metric tons per annum and the South Asian nation has ambitious plans to reach 300 million by 2030. Working on the assumption that these plans come close to being realised, how does that alter the dynamics in the global seaborne iron ore market? In order to get to an answer, it's important to work out how much of the demand for iron ore from the new steel mills can be met by India's own mines. India is the fourth-largest iron ore miner and its production hit a record 289 million tons in the fiscal year from April 2024 to March 2025, according to preliminary government data. This was up from the previous fiscal year's 277 million tons, but is also well short of what would be required to supply a 300 million tons per annum steel-making sector. Depending on the grade of iron ore used, it takes about 1.6 tons to make one ton of steel using the blast furnace/basic oxygen furnace process, the most common method in both India and top steel producer China. Is it possible that India's domestic iron ore output could rise to around 460 million tons by 2030, and if it could, is it also possible that the infrastructure required to transport ore to steel mills can be put in place? Vedanta Group Chairman Anil Agarwal told the Business Standard last month that India has the potential to overtake China and Brazil to become the second-largest iron ore miner after Australia. Vedanta owns Sesa Goa Iron Ore, one of India's major producers, and while Agarwal is correct in pointing to India's large reserves, it's unlikely that such a large increase in iron ore output in a relatively short period of time is possible. The Indian Steel Association expects that there will be a shortage of iron ore of more than 100 million tons in coming years, meaning imports will have to increase. IMPORTS RISING India is currently a net exporter of iron ore, usually shipping lower-grade ores to China while importing higher-grade material to blend with domestic ore. India's exports for the first five months of 2025 were 13.67 million tons, of which 11.11 million went to China, according to data compiled by commodity analysts Kpler. Exports have been trending lower as more ore is used by domestic steel plants, with the monthly average of 2.73 million tons for the first five months of 2025 down from the average of 3.13 million for 2024 and 3.70 million for 2023. Imports have also been trending higher, with arrivals of 4.57 million tons in the first five months of 2025, according to Kpler. This puts India on track to more than double imports this year from the 6.72 million tons in 2024 and the 6.67 million in 2023. But even if imports do rise to around 10 million tons this year, it's a long way to get to 100 million tons by 2030. Much will depend on how quickly India builds up steel capacity and how domestic iron ore miners respond. India has about 20 million tons of steel capacity currently under construction and a further 155 million planned, according to data compiled by the Global Energy Monitor. The under-construction plants will likely boost demand for iron ore imports, but the volumes are likely to be modest, at least for this year and next. What is likely is a continuation of current trends, with India's exports of low-grade iron ore trending lower and its imports of higher-grade ore moving higher over time. The views expressed here are those of the author, a columnist for Reuters. (Editing by Stephen Coates)
Zawya
2 days ago
- Zawya
Japan to raise foreign direct investment target to $1trln by mid-2030s, sources say
TOKYO - Japan is set to raise its 2030 foreign direct investment target by 20% and push the figure as high as 150 trillion yen ($1.05 trillion) by the middle of the decade, people familiar with the matter told Reuters. The mid-decade goal, almost triple the current level of investment of some 50 trillion yen, underscores Japan's push to revitalise its economy by attracting foreign firms to pump money into key growth sectors such as decarbonisation. The new targets, to be formally included in the government's upcoming fiscal and economic policy guidelines in June, represent a sharp escalation from the previous goal of 100 trillion yen by 2030. The plan is to revise the 2030 goal to 120 trillion yen which will set the stage for accelerated effort in the years beyond to reach 150 trillion yen before 2035, said the people, who declined to be identified as the matter is still private. The expanded foreign direct investment strategy is also aimed at stimulating regional economies and creating jobs outside major urban centres, the people said. To this end, they said, the government is considering the use of new grants and enhanced public-private collaboration frameworks to support the establishment of foreign facilities in local areas. ($1 = 143.4300 yen)
Hi Dubai
2 days ago
- Hi Dubai
UAE Launches Chief AI Officers Training Programme to Drive Tech Leadership
The UAE Government has launched an executive training programme for Chief AI Officers, marking a major step in strengthening the country's leadership in artificial intelligence and future technologies. Led by the Office of Artificial Intelligence, Digital Economy, and Remote Work Applications, the initiative is run in partnership with the University of Birmingham in Dubai. The programme aims to equip AI leaders across federal entities with advanced knowledge and skills to drive smart transformation across sectors. Minister of State for Artificial Intelligence Omar Sultan Al Olama said the programme reflects the UAE's commitment to investing in talent and building a tech-driven future. 'Empowering leaders with the right tools and knowledge fuels national ambitions and enables innovation,' he said. The two-week training blends academic theory with hands-on learning. Participants explore the latest AI trends, governance frameworks, and real-world applications in areas such as healthcare, cybersecurity, energy, urban development, and entrepreneurship. The curriculum also covers ethics, regulations, machine learning, and generative AI. Chief AI Officers were nominated following a UAE Cabinet decision led by His Highness Sheikh Mohammed bin Rashid Al Maktoum. Selection was based on candidates' ability to lead AI integration within their organisations and align with national strategic goals. Delivered by global experts, the programme also encourages dialogue between UAE officials and international thought leaders, creating space for exchanging insights and best practices. This initiative supports the UAE Artificial Intelligence Strategy 2031 and the broader 'We the UAE 2031' vision, reinforcing the country's position as a global hub for digital transformation and innovation. News Source: Emirates News Agency
