Bips & Pieces
Multinationals to Shift Supply Chains out of China in 2020 – MUFG
As the global multinational corporate supply chains shift under duress of ongoing Washington-Beijing trade war, production lines will increasingly move out of China in 2020, which will a “big, necessary, but inherently difficult process,” the international bank explained in a 2020 outlook report.
8 Jan 2020
GCC Sovereigns Could Face Challenging 2020 As They Shift Further into Uncharted Geopolitical Territory
Following a year marked by numerous tanker incidents in the Straits of Hormuz and a brazen attack on Saudi Aramco’s oil infrastructure, a recent escalation in geopolitical tensions between the US, Iran and Iraq could start to reverse the strong technicals-driven performance increase seen amongst GCC sovereign credit in 2019, according to analysts at Standard Chartered.
8 Jan 2020
Dubai Eyes Expansionary 2020 Budget but Investment Spending to Drop
The Dubai government is looking to boost spending strongly in 2020 in a bid to stimulate the economy, with the sharp up-tick in spending growth set to be driven mainly by wage increases, administrative grants, and financial support. Higher fees and VAT appear likely to drive the bulk of additional revenue generation. Investment spending, meanwhile, looks set to decline.
8 Jan 2020
Severity of 2019 Slowdown in India 'Exceeded All Expectations"– IDFC Mutual Fund
Following a year of falling growth for India, Suyash Choudhary, Head of Fixed Income at IDFC Mutual Fund, reflects on some of the economy’s challenges.
7 Jan 2020
Turkish Bank Interest Cash Flow Shows Asset Quality Under Pressure - Fitch Ratings
The Turkish banking sector continues to face pressure on asset quality, with interest receipts in 4Q2019 falling around 10% below the interest accrued, according to a recent note from Fitch Ratings.
7 Jan 2020
Russian Agricultural Bank Sets a New Milestone with First Euro Perp Issuance by Russian FI
The state-controlled lender tapped the international markets for EUR150mn, upsizing from the initially planned EUR100mn issuance.
7 Jan 2020
Oil Touches USD70 Per Barrel as Geopolitical Tensions Flare but Beyond Spot Prices, Market Reaction Remains Subdued
Brent crude prices reached within touching distance of USD70 per barrel following the US assassination of a high-ranking Iranian general in Bagdad last week, but looking beyond spot prices, the reaction of oil markets has been relatively subdued, according to Emirates NBD’s Edward Bell.
6 Jan 2020
Indonesia: Wide Current Account, Infrastructure Spending Limiting Easing Room in 2020 – HSBC
A wide current account deficit heading into next year is likely to limit the amount of easing Indonesia’s Central Bank will be capable of delivering, according to economists at HSBC, signalling a need for further reform in the Asian country.
17 Dec 2019
Commodity Price Swings: Precious Metals Seen Shifting Higher as Oil Softens in 2020 – SCB Data
Commodities markets have seen prices swing higher in 2019 in key segments, but the outlook for 2020 is far from certain, according to new research from Standard Chartered Bank.
16 Dec 2019
Argentina’s Pragmatic Economic Team Bodes Well for Outlook – Ashmore Group
Argentina’s president-elect revealed his new cabinet this week, a team that included Martin Guzman, a notorious IMF critic and debt restructuring specialist as Economy Minister – a move EM-focused fund managers at Ashmore took as a welcome sign.
13 Dec 2019