5 Bangladeshi and Sudanese nationals arrested for promoting fake Hajj campaign    Al Ahli clinch historic first AFC Elite title    17,153 violators of residency, border security and labor laws arrested in a week    Ministry of Transport announces full readiness for Hajj Season 2025 with all arrangements well in place    OPEC+ announces accelerated oil output hike of 411,000 bpd in June    Pakistan test-fires surface-to-surface missile amid heightened tensions with India    Israel strikes Damascus suburbs amid Druze unrest    Australia's Labor Party poised for historic re-election as opposition leader loses seat    US ends duty-free import exemption for China, hitting low-value e-commerce shipments    TGA warns against transporting people to Makkah and holy sites without permits    Al Hilal part ways with Jorge Jesus, appoint Al Shalhoub as interim coach    Prince Harry calls for reconciliation after losing UK security appeal    Mahrez targets historic treble with AFC Champions League Elite title    Al Ahli eye maiden continental crown in historic AFC Champions League Elite final    US songwriter Jill Sobule dies in house fire    Saudi Arabia releases updated GDP data highlighting expanded non-oil sector contribution    PIF announces pricing of $1.25 billion international sukuk offering    GAMI is organizing Saudi pavilion at Athens International Defense and Security Exhibition    New Parkinson's Pump therapy introduced at King's College Hospital London in Dubai First-of-its-kind treatment offers a new lease on life for the youngest Parkinson's patient in the UAE and MENA region    King Charles sends heartfelt message to fellow cancer patients    Pakistani star's Bollywood return excites fans and riles far right    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







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Bond to fund vaccines in poor countries delayed
Published in Saudi Press Agency on 11 - 10 - 2006


A bond to raise money for
life-saving vaccines in the world's poorest countries has been
delayed after a choppy week for global bond investors, according to Reuters.
Backed by six European countries, the bond was originally
due to be launched on Thursday after investor presentations in
Europe and the United States.
No new date has been fixed and the offering is not expected
for at least another week.
The British Treasury said the delay was to allow for an
extended investor roadshow and that the response to the deal had
been strong. But many in the market suspected the postponement
was due to difficult market conditions and a glut of competing
new issues.
Government bond prices have fallen in all major markets
during the past week as nervousness over the global interest
rate outlook has brought an abrupt end to a three-month rally.
A rush of new government and corporate bond issues this week
has also put upward pressure on bond yields, making it more
expensive to raise funds.
Investment banks Goldman Sachs and Deutsche Bank are
managing the offering which is expected to raise up to $1
billion. Funds raised will support immunisation projects against
diseases such as measles and polio in 70 of the world's poorest
countries.
"It's important to set a good benchmark and they're not
going to be rushed," said one source close to the deal.
The project is championed by British finance minister Gordon
Brown who hopes it will be a pilot for a wider financing scheme
that could double rich countries' development aid to $100
billion a year.
The bond will be the first from the International Finance
Facility for Immunisation, a specially-created body backed by
Britain, France, Italy, Spain, Sweden and Norway. Brazil and
South Africa have pledged to join at a later date.


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