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Bips & Pieces

GCC Non-Performing Loans May Deteriorate on Weaker Activity in 2020

GCC banks’ asset quality is likely to stay under pressure as asset growth is showing signs of peaking, according to Fitch Solutions.

28 Feb 2020

South Africa Budget: Huge Wage Bill Cut Raises Credibility Issues, Questions Over Fiscal Health

South Africa’s recently-revealed 2020 budget review contained a series of ambitious pledges designed to win over markets and restore public sector finances, including a ZAR160bn in cuts to public wages over three years, but analysts say the move raises credibility issues and likely sets the stage for a battle with the nation’s powerful unions.

28 Feb 2020

Oil, Non-Oil Growth Continue to Head in Opposite Directions in Saudi Arabia

The Saudi economy experienced a temporary growth slowdown through much of 2019 while non-oil growth saw one of the strongest performances in a year, a trend analysts believe may continue through much of 2020.

28 Feb 2020

Sberbank Net 2019 Profits Surge Following Denizbank Sale

Russia’s biggest lender posted a 20% y-o-y jump in profits for 4Q2019, as it prepares for the looming change of the controlling shareholder.

27 Feb 2020

Lingering Trade Tensions, Coronavirus Risks Means GCC Debt Yields Could Widen – then Tighten Further

GCC debt yields spent much of 2019 outperforming the wider emerging market and global fixed income universe, and while global yields also trended downward on the back of strong economic data and easing trade tensions, economists at the National Bank of Kuwait (NBK) say spreads still have room to tighten in 2020.

27 Feb 2020

Tadawul & IHS Markit Launch Saudi Government Sukuk Index

Tadawul and IHS Markit have partnered to launch the iBoxx Tadawul SAR Government Sukuk Index dedicated to tracking riyal-denominated government sukuk, a move the may enhance liquidity in the sector.

27 Feb 2020

China Central Bank Announces New Relief Measures for SMEs to Kickstart Economy, Contain Impact of COVID-19 Outbreak

The People’s Bank of China (PBOC) announced a slew of new measures designed to ease access to financing and loan terms for small businesses in a bid to kickstart a flagging economy being battered by a viral outbreak.

27 Feb 2020

Additional State Support for Eskom Unlikely for Now, But Available if Needed

Measures to support the ailing South African state-owned utility introduced throughout the past year should prove sufficient as the government moves to break up the company into three separate entities, ING predicts, amid reports of new closure threats at its largest operational power plant.

26 Feb 2020

Regulatory Tweak Could Boost Russian Corporate Green Loans Pipeline

A new mechanism to compensate for the “green premium” on loans could incentivise businesses to tap the nascent market.

26 Feb 2020

Investors Should Look to Corporates as the ‘Core’ of Emerging Market Debt – Pinebridge

While the early years of emerging market investing for global asset managers was largely dominated by sovereign placements, which have since formed the core of the asset class, the index and liquidity environment we find ourselves in today should prompt a rethink, argue Pinebridge emerging market debt asset managers.

26 Feb 2020

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