Reuters Qatar’s Masraf Al Rayan, an Islamic lender, has mandated banks for a sukuk of around $500 million, banking sources said on Wednesday. This would be one of a likely series of debt issues in the first quarter by Gulf banks seeking US dollar funding to improve their liquidity, which has been hurt by low oil prices. Abu Dhabi …

  Bloomberg The Turkish central bank’s thinly veiled pledge to take action to stem the lira’s bought only a short reprieve before the slump continued. By just after 3 p.m. on Tuesday in Istanbul, the lira was trading down 1.7 percent against the dollar — weaker than its level prior to the central bank’s statement about an hour earlier and …

  Dresden / DPA When his royal palace in Dresden was badly damaged by fire in 1701, the Elector of Saxony and King of Poland seized his chance: Out with the original romanesque architecture and in with a glamourous new-fangled style: baroque. Over the next three decades, August II (1670-1733) oversaw a major refurbishing of the Dresden Royal Palace, creating …