A lot of cash, a number of want: Council will get an replace on federal rescue funds

The US $ 39 million bailout has risen to nearly $ 60 million, all of which must be spent by the end of 2024, county council finance committee members learned Tuesday.

And that’s an estimated $ 168 million in public transportation, housing, public health programs, and direct assistance to residents and businesses in the form of rental and utility benefits, unemployment, economic checks, coronavirus testing and response, and other forms of government assistance.

It’s a big change for a county that often struggles to keep up with its commitments, noted Puna Councilor Ashley Kierkiewicz.

“I see – that’s kind of money in a generation,” said Kierkiewicz. “We had to pinch pennies for so long and now there are tens of millions out there.”

Finance director Deanna Sako tried to dampen the council’s spending enthusiasm.

Spending, Sako said, has to fit into very specific categories to qualify for federal funds. The district has to submit its first quarterly report to the federal government next month.

The money can be used for public health and tackling negative economic effects, especially in underserved areas.

“We make sure that all of these things we want to do actually fit into the categories we have,” said Sako. “That was a challenge.”

For example, the county is not qualified to use federal stimulus money to make up for lost public sector revenue because the county’s general fund has not taken a hit from the rise in property values. This is bad news for the Department of Water Supply, which is trying to make up $ 2.9 million in lost revenue from unpaid water bills.

“The county as a whole is fine, but that doesn’t help the water supply ministry,” said Sako.

Much of the money will go to water, sewer and broadband infrastructure alongside childcare so that people can be kept busy, especially as the tourism sector recovers.

“We want to be deliberate and wise on this piece,” said Doug Adams, director of research and development, who is looking for the best way to connect critical broadband networks and create childcare facilities for children under five. There are 12,000 children in that age group on the island, but only 3,600 childcare places, he said.

“We’re looking for ways to get people back to work,” he said. “If you want to see economic development, we have to make sure that our children are cared for.”

Hilo Councilor Sue Lee Loy urged the administration to reach out to nonprofits on the island to put together larger funding and grant packages to help the community.

“Over time, we’ve given a little to a lot of people and not really seen the effects,” said Lee Loy. “The nonprofits in our community are doing so much and it would be helpful if we could align them with these goals.”

Your Funds: Be taught who your supply is earlier than trusting their cash concepts | Enterprise Information

No matter which side of the vaccine debate you are on, for example, you can quote experts you believe in and follow and despise others whose advice does not suit you well. In either case, assess how you can address the risks and judge your decision based on the final result.

Now, let’s get back to finance, where you will find devoted buy-and-hold strategies that cover entire markets, zealous cryptocurrencies, sharpies making quick profits trading stocks, hobbyists, favorite companies in meme stocks transform by fighting the big institutions, and more.

All of these strategies can make money and sound great, especially if you don’t know who to trust or how to gauge how these financial tactics would work in your life. Therefore, knowing the source of the information is crucial – understanding where it came from and how appropriate it is for you.

When I hear from wealthy people using blockchain-oriented exchange-traded funds to find ways to add Bitcoin to their large, diversified portfolio, it’s a very different experience than listening to a 20-year-old tying up what little money he has has crypto and is now trading it, sometimes on the cell phone at the gym.

Both investors succeeded, but their methods and means are very different; whether you can go your own way – or go your own way and / or avoid cryptocurrencies altogether – depends more on you and your risk tolerance than on them. Likewise, the appropriateness of financial advice depends on both the donor and the audience.

U.S. cash market funds see greatest weekly outflow in 9 months -Lipper

Global indices are displayed on a screen on the trading floor of the New York Stock Exchange (NYSE) in Manhattan, New York City, USA, 19 August 2021. REUTERS / Andrew Kelly / File Photo

Sep 17 (Reuters) – US money market funds faced large outflows in the week leading up to September 15 as risk sentiment improved as fears of high inflation eased and the US Federal Reserve prematurely suspended stimulus measures after the Data showed a slowdown in the pace of consumer price increases.

Data from Lipper showed US money market funds saw an outflow of $ 43.34 billion for the week ending Wednesday, the largest since December 16.

Cash inflows in US stocks, bonds, and money market funds

The core measure of US consumer prices rose 0.1% last month, the smallest increase since February. The August slowdown gives the Federal Reserve breathing room as it prepares to shrink its massive bond holdings and decide how quickly to start raising rates from near zero. Continue reading

Meanwhile, U.S. equity funds rose $ 5.54 billion net after seeing $ 1.83 billion in outflows the previous week.

U.S. equity mutual funds drew in $ 1.28 billion net and growth funds got $ 208 million net after each one saw an outflow the previous week.

Among the equity funds, tech and real estate funds rose $ 435 million and $ 383 million, respectively, despite financials outflowing $ 845 million.

Flows into US equity sector fundsFunds flows into US growth and value funds

US bond funds rose $ 5.56 billion net for a ninth straight week of inflows.

US short / intermediate investment grade funds saw cash inflows rise two-fold to $ 2.07 billion and US municipal debt purchases rose 27% to $ 1.06 billion. However, the purchase of inflation-linked funds has almost halved to $ 574 million.

flows into US pension funds

Reporting by Gaurav Dogra and Patturaja Murugaboopathie in Bengaluru; Editing by Andrea Ricci

Our standards: The Thomson Reuters Trust Principles.

Native New Orleans type restaurant raises funds for Hurricane Ida

SAN DIEGO (KGTV) – Southern hospitality and those who offer it always have something special about them.

“I was born and raised in New Orleans. I’ve lived there for 25 years, ”said Andrew Boyer, owner of NOLA on Jan.

Boyer picked up his draw after living in the 504 and later traded it for the 619. When he saw the devastation that Category 4 Hurricane Ida wreaked havoc on his old turf, there was pain for Crescent City.

“I went back to Katrina and I was the devastation and I saw the heartache, basically the depression, and that kind of reminded me of it,” Boyer said.

He wanted to help after Ida swept his home state.

“I listen to my friends; we have no water, we have no electricity,” said Boyer.

So, Boyer’s Restaurant serves up jambalaya, gumbo, etouffee, and more from its New Orleans Comfort menu for charity.

“All items sold, we not just give the proceeds, we will give 50 percent of the sales to the Cajun Navy and the American Red Cross.”

NOLA on May 5th is making this Labor Day weekend appeal to all of their hungry customers looking for their own taste of bayou.

“We left Grace two weeks ago and we know how it was. And I know how influenced people are, ”said Ashley Renae, a customer. “So we wanted to come out, get good food and support them. “

“Any money we can give to help people would be fantastic,” said Jaqi Price, another customer.

It’s a sight that Boyer is overjoyed at. Proof that there is nothing a bowl of gumbo cannot fix.

“To see people who have no connection with Louisiana giving money and so we are here to eat, it is just touching. It just means that people really care, ”Boyer said.

NOLA said on the 5th that the fundraising effort will also apply to takeaway orders of their New Orleans Comfort Food. Customers can call them to place your order for a good cause.

They’re also doing a pass-the-pot event for the LSU game on Saturday to raise funds for their fundraising effort.

A join a free evaluation on how to economize in your electrical invoice helps NAACP elevate funds

Editor’s Note: This story is part of Southwest Michigan Second Wave On the ground Battle Creek range.

Battle Creek residents interested in saving money on their utility bills and building more energy efficient homes can register for free until August 13th Energy analysis at home offered through Consumers Energy.

In addition to benefiting homeowners and tenants, the program raises funds for the Battle Creek branch of of NAACP (National Association for the Promotion of Colored People).

“Consumers are working with minority and women-led nonprofits to promote this program and turn it into a fundraiser,” said Kathy Antaya, who leads the fundraiser and is the third vice president of the local NAACP. “They really go out of their way to target black and brown communities where people are least likely to let ‘the man’ into their home.”

To sign up, people should click here or visit HomeEnergyAnalysis.com or call 833-685-1312 to make an appointment. When registering online, enter NAACPBC in the promotional code field. When you call to make an appointment, Antaya says, “Be sure to give the call center agent the code.”

She hopes this will build people’s confidence in the work Consumers Energy is doing to save money and in their own ability to make these kinds of improvements.

“It makes a lot of sense to me, especially for households that are less energy efficient and more likely to benefit from it, and these are mostly low-income people or people who don’t trust a white person to come to their door,” Antaya says.

Although the fundraising opportunity has existed with organizations in the east of the state for several years, this is the first time an organization in Battle Creek has had the opportunity to partner with Consumers Energy, says Erin Donnelly, senior marketing & outreach manager for energy efficient solutions Logistics, LLC. SEEL, LLC is a Certified Minority Business Enterprise (MBE) and an Authorized Consumers Energy Contractor based in Comstock Park.

The payment for partner organizations is based on a tiered system. For every 50 energy analysis appointments completed, an organization receives US $ 500; for all 75 appointments this amount is $ 1,000 and continues from there up to a maximum of $ 5,000 for 200 completed appointments.

Donnelly says there were seven completed Battle Creek events listed as of yesterday.

“We need at least 50 visits to start a fundraiser,” says Antaya. “Our goal is 200 visits. We struggled to get 20. “

The participating organizations had a three-month window to register and complete appointments. The fundraiser began June 13th in Battle Creek, and Antaya hopes more people will sign up before the deadline.

Antaya is one of the seven people who already have an energy analysis carried out at home. During this analysis, she had 30 lightbulbs replaced and received four LED night lights, all free of charge for her. She says if her house, which is around 50 years old, had an electrical water connection, she could have got free plastic wrap and insulation for the hot water pipes and tape sealant for the water heater.

“The man who did my energy analysis was very experienced and professional,” says Antaya. “He made me feel so comfortable. He even pointed out a few things that had nothing to do with energy efficiency and asked questions such as whether I had had a radon test done in my basement. “

The technicians who perform the personal analyzes bring items such as light bulbs and insulation, and replace and install anything needed during the visit. Those doing the virtual analyzes will be sent home free of charge materials that may be needed for improvement.

In addition to the items that Antaya replaced, premium upgrades are available for those who are 200 percent or below the federal poverty line, which according to the U.S. Department of Health or 80 percent of the Annual Median Income (AMI), which in Calhoun County was $ 49,055, according to the US Census Bureau.

These premium upgrades include items like new refrigerators, dehumidifiers, or air conditioners, says Donnelly.

“We carry out the initial assessment and if you are eligible for the premium upgrades, we will contact you and see if you are interested. If so, you will need to provide proof of income eligibility. Order a new refrigerator and set up delivery and installation. “

Donnelly says the energy analysis program is funded by an average fee of 30 cents that is part of the monthly bill that Consumers Energy customers receive.

“The whole point of this fundraising program is to help the community and the businesses and organizations in that community, and to help the community save money on their energy bills on an individual basis,” says Donnelly. “People get very hesitant when they hear the word ‘free’. But it’s something that every customer is already paying for. There is a small fee on your bill that goes straight to funding this program. “

“The program is completely free to anyone in Michigan who is a Consumers Energy customer,” says Donnelly. “Consumers Energy offers virtual and personal appointments to give tips on energy efficiency and energy reports at home that show customers their energy consumption and how they can save money. The aim is to reduce energy consumption. We have certain goals that we want to achieve as a company that uses energy. If we can help the customer in any way, we want to do that. “

Read more articles from Jane Simons.

Jane Simons is a freelance reporter and writer with over 20 years of experience and the owner of In so many words based in Battle Creek. She is the project editor for On the Ground Battle Creek.

Medford cash from taxes, state and federal funds

Over the past few weeks, Medford city guides have sat down with department heads and administrators to discuss the $ 191.9 million spending plan for the coming fiscal year.

Yes, that’s nearly $ 200 million of those portraits of George Washington that we sometimes find forgotten in a pocket, crumpled on the bottom of a purse, or thoughtlessly given to the homeless man who is with an empty coffee at the I-93 exit stands cup and a toothy smile.

Where does the money come from? In Medford, property taxes, excise taxes which include automobile, hotel or room occupancy, and meal taxes, state and government grants, licenses, fees. The city earns interest on investments (and pays off debts).

According to the mayor’s budget presentation, $ 127 million, about 70 percent of the city’s revenue, comes from property taxes. People’s pockets. This is called the General Fund and it amounts to around $ 166.4 million and does not include the money from the Community Preservation Act or the income from the Revolving and Enterprise Funds.

Medford also expects to receive $ 27.9 million from the state in various grants and grants. The city also earns local income, collects water and sewage fees, and sells land in the cemetery.

The Enterprise Fund, created for business purposes, brings $ 26.5 million into the city’s coffers, but is said to be self-supporting in order to support itself. The Community Preservation Act Fund, a 1.5 percent property tax surcharge that came into effect in 2017, is state sponsored and pays for the creation and maintenance of open space, historic areas, affordable housing, and outdoor recreational facilities. It amounts to a little over $ 2 million.

For the next two fiscal years, Medford will also receive approximately $ 48.5 million from the American Rescue Plan Act, which will be used to offset the financial devastation caused by COVID-19 through lost revenue.

It can also be used to fund infrastructure projects, including water and sanitation projects, to help stabilize households and businesses adversely affected by the pandemic, address public health issues and continue the fight against the killer virus.

Where are you going now?

In Medford, nearly 40 percent, or $ 63.7 million, is said to be paid for by the city’s schools, which the federal government will add another $ 3.7 million to.

In a presentation to the city council on June 23, school officials hit the high notes: an emphasis on teaching, especially after the pandemic year. A focus of reading specialists and literacy.

Medford's budget includes a facility manager who oversees city structures to prevent deterioration and to schedule and schedule regular maintenance.  The fire department buildings all need repair, and the city is trying to repair or replace its headquarters.

City officials directed schools to find ways to attract teachers to meet the needs of the increasing diversification of the community and ways to recruit staff who identify as colored.

“We have 485 educators in Medford, 15 of them are colored,” noted Councilor George Scarpelli. “There are some buildings if there is no colored stick.”

City councils identified the challenge of recruiting qualified candidates for a district that pays less than other surrounding communities.

A good chunk of the money, nearly $ 30 million, is said to be paid for public safety, both for the police and the fire department. Public works, the people paving the streets, collecting the rubbish, repairing government buildings, get about $ 15.5 million.

Employee benefits and insurance cost the city $ 40.5 million, the state, or the cost of doing business as the city of Medford costs about $ 7 million. The loan repayment costs $ 5.3 million. The budget was $ 2.1 million for culture and recreation and $ 1.7 million for health and human services. The community development budget is $ 699,682.

Dollars represent a community’s quality of life; richer communities making more money can offer residents a more comfortable lifestyle, with community services ranging from roadside composting to lots of pickleball courts for the city’s seniors.

Leisure venues throughout New Jersey nonetheless ready for federal COVID-19 grant funds

News 12 employees

16.06.2021, 00:10

Updated on: 16.06.2021, 00:10

Live theaters, cinemas, museums, and certain other venues that were closed during the COVID-19 pandemic are still awaiting federal grants promised by the government.

“Of course, given the economic challenges, we were fortunate to have 10 to 15 volunteers,” said Gabor Barabas, executive director of the New Jersey Repertory Company.

Barabas says the volunteers helped renovate the Long Branch building. He is also grateful to the donors who made it possible to purchase new seats and floor coverings.

But the nonprofit theater hopes a $ 150,000 federal grant will come in soon. The grants will help bring staff back and start the next shows.

“Three employees in one year and the beginning, just the beginning – the seeds of the new musical,” says Barabas.

New Jersey Repertory is among more than 14,000 venues in the United States that have applied for a Shuttered Venue Operators Grant – a program that was signed into law last December but has been plagued by delays.

“It was clunky. It was frustrating, ”said Adam Philipson, CEO of the Basie Center for the Arts.

The nonprofit Red Bank is also waiting for a $ 2 or 3 million grant. It will partially cover the losses that occurred during the state-ordered shutdown and the capacity limits.

“You have the staffing that needs to be done now, training that needs to be done now because a lot of that will be new employees,” says Philipson.

The Small Business Administration, which manages the $ 16 billion grant program, says a team is reviewing the cumbersome applications. But the government says, “… the current pace of awards does not reflect the high standards that we are aiming for at venues.”

Many venues still have a long way to go before they can welcome a full audience, including improvements to ventilation and staff recruitment.

According to the SBA, scholarships were only awarded for a few hundred venues, so thousands had to wait for the funds. Just over a dozen applicants in New Jersey have received scholarships from the program.

International cash market funds lure huge inflows within the week to June 2-Lipper

A specialist trader watches his chart as he works on the floor of the New York Stock Exchange on July 8, 2014. REUTERS / Brendan McDermid / File Photo

Global money market funds attracted large investment flows for the week leading up to June 2 as investors were cautious about the likelihood that global central banks would scale back monetary stimulus policies in the face of a surge in inflation.

Money market funds saw net purchases of $ 20.5 billion, according to Refinitiv data, for the fourth straight week in inflows.

Investors have also been vigilant ahead of the US jobs data expected on Friday after any hint of the Fed’s policy plans over the coming weeks and months.

US data released last week showed that a measure of underlying inflation used by the Fed for its 2% target rose 3.1% year-over-year in April, the sharpest increase since July 1992. Continue reading

Meanwhile, global equity funds received net inflows of $ 8 billion, down 23% from the previous week, despite a rally in global stocks (.MIWD00000PUS) , which hit a record high this week.

The healthcare sector faced $ 666 million outflows, the largest in 12 weeks, while technology funds saw $ 117 million in inflows, down 75% from last week.

However, financial sector funds attracted $ 2.2 billion in inflows, the largest in nine weeks.

Meanwhile, global bond funds received $ 15.8 billion, the highest amount in four weeks, helped by higher inflows into lower maturity bonds.

Among the commodity funds, precious metals funds saw an inflow of $ 35 million, their lowest level in four weeks. On the other hand, energy funds have suffered an outflow of $ 115 million.

Analysis of 23,757 emerging market funds found that equity funds received $ 2.56 billion in inflows, the highest in 11 weeks, while bond funds received $ 1.6 billion.

Our standards: The Thomson Reuters Trust Principles.

Cash-Market Funds Face New Guidelines After Covid Stumble. This is What Might Occur.

Text size

Dream time

While the race in cash At the start of the pandemic, investors pulled cash from money market funds that invest in short-term corporate and municipal debt. That has regulators again concerned about the stability of the sectorand they are considering further rule changes to support them.

In March 2020, investors withdrew $ 125 billion from high-quality funds investing in short-term corporate bonds and $ 9 billion from tax-free money market funds, US officials wrote in a December report. Investors pulled less cash on an absolute basis than they did during the 2008 financial crisis, when a huge prime fund “broke the money” when its share price fell below $ 1. However, with the industry’s asset base lower in 2020, withdrawals made an even larger proportion of the industry’s total size.

Although the market did not repeat itself in 2008, investor exit exacerbated the pressures in the short-term corporate and local finance markets and prompted the Federal Reserve to do so step in and create a facility dedicated to money market funds. This follows two rounds of regulatory efforts to prop up money market funds after the financial crisis.

After renewed burdens last year, officials like Fed Chairman Jerome Powell are now discussing the prospect of new rules to limit the need for future intervention. “We are looking for ways – and people around the world are looking for ways – to make these vehicles resilient so that they don’t have to be backed by the government when market conditions are tough,” he said at the central bank press conference on April 28th . April.

As the regulatory process progresses, strategists join in

Bank of America

hinder the likelihood of different changes.

US Officials suggested a list of 10 Possible reforms in their December report and in a May 6 release are categorized by analysts at the bank into three main categories.

The first group would ease the threshold at which funds would have the ability to penalize redemptions from investors. After the stress on money market funds during the financial crisis, regulators put in place a rule that money market funds can charge fees or goals if their cash equivalents fall below 30% of their portfolio.

Review & preview

Each weekday evening, we highlight the resulting market news of the day and explain what is likely to be important tomorrow.

One of the regulators’ proposals would allow money market funds to collect gates or fees if the board of directors decides that it is in the best interests of the fund, regardless of the size of its cash. This idea was popular with money market fund managers who responded to the government report, Bank of America found. All 14 respondents supported the idea.

The second set of proposals is to encourage either fund management companies or investors to pay to offset the risk of future runs. For example, officials are considering new rules detailing exactly when and how a fund’s parent company would be required to support their funds, for example by providing liquidity to cover investor withdrawals.

Third, regulators are considering a group of ideas to reduce the likelihood that investors will withdraw their money in the first place.

One of the options in this category would be a new rule that would reduce the incentive for an investor to try to get their money out of a fund first. In essence, the rule would introduce a delay before an investor could cash out a certain portion of their stock. This means that an investor who withdrew prematurely would still be involved in the losses if a fund ran.

While most money market fund managers didn’t endorse the idea, Bank of America said “it has some potential” although it “could make it less attractive to invest in top quality or tax-exempt money market funds.”

Another proposal could fundamentally change the expectations of individual investors in certain types of money market funds: regulators suggested allowing the price of retail investor stocks to fluctuate or, under certain conditions, move their prices up and down with market conditions instead of staying at 1 USD per share. This would reflect a rule change from the post-financial crisis, when officials introduced rules that allowed stock prices to float for institutional investors’ stakes in high-quality, tax-free money market funds.

Of course, these rules would only apply to money market funds that invest in short-term corporate or municipal debt. So it seems possible that this set of rule changes, like the last round of reforms, will continue to push investors into money market funds that invest in US government bonds.

In short, “there are changes coming in high-quality, tax-exempt money market funds,” wrote Bank of America, “which we believe will undermine investor interest in these funds.”

Write to Alexandra Scaggs at alexandra.scaggs@barrons.com

GRAPHIC-U.S. cash market funds see largest weekly influx in a 12 months -Lipper

Bloomberg

Oil crown jewels are no longer unlimited as offers rise

(Bloomberg) – At this time, the Middle East petrostats withdrew from using their crown jewels to raise money from overseas investors. No more. In a matter of weeks, Saudi Arabia, the United Arab Emirates, Qatar, Oman and Kuwait have accelerated plans to sell power plants or issue billions of dollars in bonds. To limit this trend, Saudi Crown Prince Mohammed bin Salman said Tuesday the kingdom was in talks with an unidentified “global energy company” to sell around $ 20 billion worth of stake in state oil company Aramco. The shift underscores how countries are almost at home in a region.Half of the world’s oil reserves are taking advantage of the recovery in energy prices after the coronavirus-triggered crash last year to bolster their troubled finances. The global transition to cleaner energy only adds to the urgency as governments need new funds to invest in new sectors and diversify their economies. And investors plagued by record lows are seizing the opportunity: “It makes sense for these countries to sell shares when valuations are good,” said Justin Alexander, chief economist at MENA Advisors, a UK-based advisory firm. “Part of it is tax. Part of it is a growing recognition of the speed of the energy transition and the need to extract value from these assets. “The oil exporters in the Middle East recorded an increase in their budget deficits to 10.8% of gross domestic product from just under 3% in 2019, according to the International Monetary Fund. GDP in Saudi Arabia, the United Arab Emirates, and Qatar has shrunk the most in about three decades. Aramco and AdnocSaudi Aramco, the world’s largest crude oil producer, and Adnoc, which produces almost all of the UAE’s oil and gas, were the most active companies in the region. Both began privatizations before the pandemic, with Aramco listed on the Riyadh stock exchange in 2019 and Adnoc sold part of the fuel distribution business in late 2017, also through an IPO. Since then, deals have grown in number and sophistication – as has the focus on foreign money. On April 10, Aramco said a US-led group would invest $ 12.4 billion in its oil pipelines. The next deal could be to offer a stake in its natural gas network. For its part, Adnoc is planning IPOs for drilling and fertilizer units. These would follow a series of deals starting June 2020, with companies like Brookfield Asset Management Inc. and Apollo Global Management Inc. investing approximately $ 15 billion in the Abu Dhabi-based company’s gas pipelines and real estate. Prince Mohammed, de facto Saudi Arabia’s ruler, sees Aramco as a key element of his Vision 2030, the major project that aims to promote everything from tourism to investments in solar parks and pharmaceuticals. Sheikh Mohammed bin Zayed of the United Arab Emirates has similar ideas for Adnoc and gave himself more control over the company in March, which he shook up in order to get more money out of the marquee. When subsidiaries are sold, they keep most of the shares. With the pipeline deals, Aramco and Adnoc offered decades of leasing rights instead of direct equity. The boutique Wall Street bank Moelis & Co. acts as advisor to both companies: “The national oil companies in the Gulf have realized that they can sell parts of their empire and raise money without giving up control,” said Ben Cahill, senior Fellow at the Center for Strategic and International Studies in Washington. “It’s a pretty good combination for businesses and governments.” Elsewhere in the Gulf, Qatar Petroleum and Omani state-owned companies like OQ SAOC are entering the dollar bond market for the first time. Qatar Petroleum is targeting up to $ 10 billion to increase its capacity to export liquefied natural gas. Qatar is among the richest countries in the world per capita, and in the past the government may have funded the $ 29 billion project from its own resources. But it is now trying to reduce a debt burden that rose last year, said Fitch Ratings Ltd. in a report on Monday. By using state-owned companies, the government can protect its own balance sheet. Oman’s PushOman’s OQ sold seven-year Eurobonds worth $ 750 million on Wednesday. Another state-owned company, Energy Development Oman, could follow suit later this year to raise $ 3 billion in debt. The plans are part of a major restructuring of the oil sector since Sultan Haitham Bin Tariq came to power just over a year ago. He tries to attract foreign funding and rejuvenate the ailing economy. In the meantime, the state-owned Kuwait Petroleum Corp. is considering their first international bond. It would be part of a strategy to borrow up to $ 20 billion over the next five years to offset an expected decline in sales. More on ComeAsset and debt sales should account for the lion’s share of future transactions, according to Hasnain. Malik, head of equity research at Tellimer, a London-based company that provides analysis of emerging markets: “Securitizing future cash flows and issuing bonds and selling private equity appears to be a far less onerous way of raising finance from international investors than selling stocks through an IPO, ”said Malik, who has served Middle Eastern markets for more than 20 years. “They rightly recognize that the base for fixed income and private equity investors is larger than that for regional stocks.” Currently foreign investors who rarely seem to have had so many opportunities to invest their money in oil and gas in the Middle East to be happy to raise the money. “There is definitely more to come,” said Cahill. “The national oil companies are watching each other and learning new tricks.” More articles like this can be found at bloomberg.com. 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