DUBAI: Qatar International Islamic Bank priced a $700m five-year sukuk yesterday, at a profit rate of 2.688 percent. HSBC Holdings, Standard Chartered and QNB Capital, a unit of Qatar National Bank were mandated bookrunners on the deal. QIIB launched the sukuk earlier in the day at the lower end of revised price guidance, in a reflection of healthy demand for the deal. Last week, Qatar Islamic Bank sold $750m in a five-year sukuk at 2.5 percent.
Oil rises on Mideast tensions
NEW YORK: Oil prices rose on Thursday as tensions between Syria and Turkey escalate and maintenance curbs on North Sea output continue. Brent November crude rose $1.09 to $115.42 a barrel by 12:35 p.m. EDT (1635 GMT), having reached $116, highest since prices reached $117.02 on Sept. 17. Brent’s November contract expires on Oct. 16. U.S. crude was up 74 cents at $91.99 a barrel, having swung from $91.09 to $92.94. North Sea crude oil output from 12 production streams is set to fall by about 1 percent in November, according to Reuters’ calculations, another factor supporting Brent prices.
Gold snaps four-day decline
NEW YORK/LONDON: Gold rose yesterday, tracking US equities and other commodities higher, as a sharp drop in the number of Americans filing new claims for jobless benefits helped the metal snap four straight days of declines. Bullion could further consolidate gains after four consecutive monthly increases prior to October, analysts said. Its rally sent prices to an 11-month high last Friday, but its failure to break above $1,800 an ounce triggered technical weakness. Spot gold rose 0.3 percent on the day to $1,767 an ounce by 2:10pm EDT (1810 GMT). The metal fell by more than 2 percent over the prior four trading days, its longest stretch of declines since June. Silver edged up 0.1 percent to $33.99 an ounce. Platinum rose 0.6 percent to $1,676.99 an ounce, while palladium was up 0.1 percent at $646.97 an ounce. Agencies
