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Banking

WireTap 1400 02/05/12

A round-up of the key stories across the specialist financial media, including news that Jebel Ali Free Zone in Dubai will seek approval from holders of its Dh7.5 billion Islamic bonds for early redemption of the trust certificates


Jebel Ali Free Zone seeks approval for sukuk redemption

Jebel Ali Free Zone, a business park operator in Dubai, will seek approval from holders of its Dh7.5 billion Islamic bonds for early redemption of the trust certificates.

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Fitch warns US growth poses credit threat

The credit quality of companies is threatened by the uncertain trajectory of the US economy in the coming years, according to a report by Fitch Ratings.

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Gold retreats as US data lifts dollar 

Gold prices retreated towards $1,650 an ounce on Wednesday as the dollar strengthened against the euro, after a downbeat reading of eurozone manufacturing activity contrasted with stronger data from the US.

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German two-, five-, 10-, 30-year bond yields fall to record lows

The yield on the 10-year securities fell as much as four basis points to 1.628% and was at 1.632% at 12:03pm London time on Wednesday.

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Jobless rise adds to eurozone concerns

Eurozone unemployment has risen for an 11th consecutive month to a fresh euro-era high, highlighting the region’s weakening economy and increasing divergence from the US.

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