Qatar raises $12bn in bond sale despite political crisis

Qatar remains the subject of a boycott with Saudi Arabia, the UAE, Egypt and Bahrain. (File/Shutterstock)
Updated 07 March 2019
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Qatar raises $12bn in bond sale despite political crisis

  • Qatar has sold bonds worth $12 billion
  • The stand off with Bahrain, Saudi Arabia, the UAE and Egypt is still ongoing

DOHA: Qatar has sold bonds worth $12 billion, the finance ministry said Thursday, attracting strong demand despite an economic and diplomatic boycott by its former Gulf allies.
“The state of Qatar has achieved a successful return to the international financial markets with a total of three tranches — worth $12 billion,” said a ministry statement carried by the official Qatar News Agency (QNA).
The sale received orders of more than $50 billion, it said.
Qatar has been economically and politically isolated by a Saudi-led bloc — including the United Arab Emirates, Bahrain and Egypt — since June 2017 over claims it supports terrorist groups and seeks better ties with Saudi arch-rival Iran.
Doha denies the accusations and says its opponents are seeking regime change in Qatar.
In 2018, the gas-rich state raised $12 billion in its first dollar bond sale in two years, eclipsing Saudi Arabia’s $11 billion bond issue the same year.


Egypt’s aviation ministry to increase departure fee for travelers in November: Reports 

Updated 19 March 2019
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Egypt’s aviation ministry to increase departure fee for travelers in November: Reports 

  • Media said the increase to the passenger departure fee will raise the amount to $25

CAIRO: Egypt’s Ministry of Civil Aviation has reportedly announced a $5 increase in the travelers’ departure fee starting from next November, local newspapers reported on Tuesday.

Media said the increase to the passenger departure fee will raise the amount to $25, to be obtained indirectly for each passenger flying on regular or charter flights — both internationally and domestically — from Egyptian airports. 

The rate has not changed since 2013, the ministry said in a statement quoted by Al-Ahram Newspaper

The proposed increase was adopted by the Supreme Council for Pricing after "careful consideration" and according to normal practice in airports worldwide, it added.  

The ministry said the increase is in line with the challenges and demands needed for the development of the entire service system at Egyptian airports.