A series of bond sales across the GCC have taken place. Saudi Aramco is
selling its first dollar-dominated Islamic bonds in three tranches. The return to the market signals an attempt to raise funds to cover its cash commitment to a promised $75 billion in dividends after an oil-price driven surge in profits in the first quarter of the year. Elsewhere, Oman has raised $1.75 billion, a few months after raising $3.25 billion in January.
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