Biden has directed his team to monitor for potential price gouging activity that benefits foreign ocean carriers, says the White House
americas32 minutes ago
GE’s General Electric Capital Corp. unit hired Citigroup Inc. and Goldman Sachs Group Inc. to arrange meetings with sukuk and traditional bond investors, according to two bankers with knowledge of the promotional tour for the debt. GE Capital is meeting with Islamic investors as rising oil prices increase liquidity in the Middle East’s crude-producing economies and the sukuk market shows signs of recovery. Crude oil in New York rose $1.50, or 2 per cent, to $77.58 at 2:20 p.m. after reaching $77.97, a one-year high.
“There is a very healthy appetite for Islamic issuance at this time,” said Nish Popat, head of fixed income at ING Investment Management in Dubai. “GE is looking to tap into this investor base with oil hitting new highs.” GE said in July 2008 it formed an $8 billion venture with Mubadala Development Co., Abu Dhabi’s state-owned investment company, to invest in emerging markets in the Middle East and Africa.
Biden has directed his team to monitor for potential price gouging activity that benefits foreign ocean carriers, says the White House
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