Reuters Malaysia’s Bank Muamalat will set up a 1 billion ringgit ($243.4 million) sukuk programme, after the Islamic lender said on Wednesday it would redeem 400 million ringgit worth of subordinated sukuk on June 15. Bank Muamalat’s new sukuk programme has loss-absorption features to meet Basel III criteria, qualifying as Tier 2 capital, rating agency RAM Ratings said in ...

  Bloomberg Nigeria’s central bank is preparing to weaken its naira and abandon a currency peg that has starved Africa’s biggest economy of dollars and slowed foreign investment to a trickle. Naira forward contracts soared to record highs as traders added to bets on a weaker currency. In a retreat for President Muhammadu Buhari, who has resisted calls to let ...

  Bloomberg After World War II, the economic center of gravity in the U.S. began shifting from the cities to the suburbs — and that shift continued for more than a half-century. In the past few years, though, there’s been lots of talk about the trend reversing. What does the evidence show? Well, it can be a little confusing. Here, ...