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



Riyadh to Host 3rd Edition of Saudi Tourism Forum Under the Slogan ‘To Discover’

A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
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Riyadh to Host 3rd Edition of Saudi Tourism Forum Under the Slogan ‘To Discover’

A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)

Riyadh is set to host the third edition of the Saudi Tourism Forum from January 7 to 9 at Roshn Front.

Organized in partnership with the Ministry of Tourism, the Saudi Tourism Authority, and the Tourism Development Fund, the event will run under the theme "To Discover."

This year’s forum serves as a dynamic platform to highlight new and unique tourist destinations across the Kingdom, offering visitors innovative experiences while showcasing Saudi Arabia’s diverse tourism potential. With over 100 exhibitors, the forum provides an expansive space to explore the latest developments in the tourism sector, spotlight major investment projects, and foster skill development and partnerships to drive tourism growth.

Chief Executive Officer of 4M Event and Chairman of the Forum’s Organizing Committee Eng. Hamza Nasser emphasized the forum’s role in advancing collaboration within the tourism sector. "Through the forum, we aim to promote the beauty of Saudi tourist destinations, enhance cooperation among stakeholders, and raise awareness about investment and development opportunities. This aligns with the goals of the Kingdom’s Vision 2030,” he said.
Since its inception, the Saudi Tourism Forum has significantly advanced efforts to promote the Kingdom's rich cultural heritage and distinctive tourist sites. Supported by prominent partners and sponsors, the event underscores a shared commitment to developing this vital sector.
The program will feature a variety of seminars and workshops, offering insights into the latest trends and developments in tourism. Attendees will have the opportunity to engage with keynote speakers, decision-makers, and industry professionals, enhancing their skills and knowledge.
The forum is expected to attract a diverse audience, including business leaders, investors, officials, and dignitaries, creating fertile ground for collaboration and partnerships.