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Israeli Bank Leumi Raises $721 Million in Bond Issue

Israeli Shekel notes are pictured at a bank branch in Tel Aviv in this August 29, 2011 photo illustration file picture. REUTERS/Nir Elias/Files
Israeli Shekel notes are pictured at a bank branch in Tel Aviv in this August 29, 2011 photo illustration file picture. REUTERS/Nir Elias/Files
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Israeli Bank Leumi Raises $721 Million in Bond Issue

Israeli Shekel notes are pictured at a bank branch in Tel Aviv in this August 29, 2011 photo illustration file picture. REUTERS/Nir Elias/Files
Israeli Shekel notes are pictured at a bank branch in Tel Aviv in this August 29, 2011 photo illustration file picture. REUTERS/Nir Elias/Files

Bank Leumi (LUMI.TA), one of Israel's two largest lenders, said on Sunday it raised 2.3 billion shekels ($721 million) in a bond offering to institutional investors and the public.

Leumi issued two new bond series - a six-year and eight-year, which will yield 1.02% and 0.75%, respectively, Leumi said.

Demand for the issues reached 5 billion shekels, it said, Reuters reported.

The bonds are rated "AAA" by Standard & Poor's Maalot.

Earlier this month, Leumi reported a more than doubling of third-quarter net profit to 1.55 billion shekels and said it would pay a dividend of 1.367 billion shekels, reflecting 30% of net profit from the first nine months of the year. read more

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China to Cut Import Tariffs on Some Recycled Copper, Aluminium Raw Materials

People walk along a bridge in Beijing, China, 28 December 2024. EPA/JESSICA LEE
People walk along a bridge in Beijing, China, 28 December 2024. EPA/JESSICA LEE
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China to Cut Import Tariffs on Some Recycled Copper, Aluminium Raw Materials

People walk along a bridge in Beijing, China, 28 December 2024. EPA/JESSICA LEE
People walk along a bridge in Beijing, China, 28 December 2024. EPA/JESSICA LEE

China will reduce import tariffs on ethane and certain recycled copper and aluminium raw materials from next year, the government said on Saturday.
The Ministry of Finance announced adjustments to various import tariff categories, effective Jan. 1, aimed at increasing imports of high-quality products, expanding domestic demand and promoting high-level opening-up, Reuters quoted it as saying in a statement.
Provisional import tariffs below the most-favored-nation rates will be applied to 935 items, the ministry said. Import tariffs will be reduced on ethane and certain recycled copper and aluminium raw materials to advance green and low-carbon development.
Tariffs will rise on commodities including molasses and sugar-containing pre-mixed powders will increase but be reduced on items such as cyclic olefin polymers, ethylene-vinyl alcohol copolymers and automatic transmissions for special-purpose vehicles such as fire trucks and repair vehicles.
Import tariffs will also be reduced on items such as sodium zirconium cyclosilicate, viral vectors for CAR-T tumor therapy, and nickel-titanium alloy wires for surgical implants.
The China-Maldives Free Trade Agreement will come into effect on Jan. 1, with tariff reduction implementations, the ministry said.