Qatar: The QE 20 Index declined 0.57% to 8,640.61 points as profit takings occurred across the board. Qatar Islamic Bank or QIB closed unchanged at QR72.60. Earlier in the day, QIB said the board of directors has appointed Bassel Gamal as the Chief Executive Officer of the Shari'ah-compliant bank. "Mr. Bassel Gamal, who has 22 years experience in banking, will be responsible for all the companies and institutions affiliated to QIB inside Qatar and abroad. Mr. Bassel Gamal will assume his duties during February, 2013." Shares of Qatar Telecom, known as Qtel dipped 0.18%, finishing Sunday trading at QR110. End of last week, Qtel announced the successful pricing of $1bn senior unsecured notes to be issued by its wholly owned subsidiary, Qtel International Finance Limited under the U$3bn Global Medium Term Note Programme established on the Irish Stock Exchange on 7 December 2012. The transaction was priced at a margin of 2.15% over the 10 year U.S. Treasury rate for the 15 year note and at 1.625% over the 30 year U.S. Treasury rate for the 30 year note. Net proceeds from the sale of the Notes will be used for Qtel's general corporate purposes, including refinancing existing indebtedness. [AMEInfo.com]
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