Bloomberg Vietnam’s surprise lowering of interest rates for the first time in three years may help to support economic growth, but raises credit risks in a nation still grappling with a hangover of bad debt. The central bank reduced the refinance rate by 25 basis points to 6.25 percent and also lowered the discount rate to 4.25 percent from 4.5 …

Dubai / Reuters Saudi Arabia will issue a local currency sukuk, or Islamic bond, this month, Saudi finance minister Mohammed Al Jadaan told Al Arabiya News on the sidelines of the G20 summit in Hamburg. The government is expected to tap both the local and international bond markets this year, depending on the level of demand and the pricing it …

RIYADH / Reuters Morgan Stanley named a new chief executive of its office in Saudi Arabia on Monday, as the firm carries out work on high-profile deals like the initial public offering of state oil giant Aramco. Abdulaziz Alajaji was previously head of corporate banking at JPMorgan & Chase Co in the kingdom. Rival JPMorgan enjoys a strong position in …