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Economics and Markets

Sukuk Issuance to Plummet in 2020 – S&P

A toxic cocktail of low oil prices and widespread disruption caused by the COVID-19 pandemic looks set to severely inhibit sukuk issuance in 2020, according to a recent report from S&P.

15 Apr 2020

With No Sign of Oil Prices Rising Anytime Soon, Stability in the Gulf is Likely to be Tested

As revenues slump and deficits soar, analysts are growing increasingly concerned about some of the Gulf’s more vulnerable economies.

9 Apr 2020

Global Debt Soars 40% Since 2008 as Pandemic-Hit Nations Fire Up Fiscal Stimulus

A lightning fast shift from tentative attempts to stem budget deficits across the developed world post-2008 to an all-out fiscal bazooka over recent months has seen debt levels skyrocket to more than 320% of global GDP.

9 Apr 2020

Inflation Slows in Hungary, But Full Impact of COVID-19 Not Yet Evident – ING

As the lockdown continues in Hungary, the impact on the economy is beginning to filter into the data, with inflation slowing to 3.9% in March. Whilst food prices provide upward pressure in the short-term, the falling cost of fuel and services has yet to be accounted for in this month’s statistics, according to Peter Virovacz, Senior Hungary Economist at ING

9 Apr 2020

Analysts Revise Kenyan GDP Growth to 4.3% for 2020

Kenya’s economy, like many of its peers on the continent, is being hit hard by the COVID-19 pandemic, with analysts revising the country's growth prospects downward.

8 Apr 2020

Tabreed Acquisition of Emaar-Owned Dubai District Cooling Business 'Credit Positive'

The National Central Cooling Company PJSC, better known as Tabreed, acquired an 80% stake in Emaar-owned Downtown Dubai district cooling business from the real estate giant in a deal valued at AED2.48bn, a deal fund managers described as a win-win.

7 Apr 2020

Multi-Notch Sovereign Downgrades Likely Across Emerging Markets – Fitch

The onset of the coronavirus and a slump in the oil price is leading to a rise in the likelihood of multi-notch sovereign downgrades.

7 Apr 2020

MENA PMIs Fall Sharply as Supply Chain Disruption, Output Decline Dampens Sentiment

PMI readings for the UAE, Saudi Arabia and Egypt treaded further into negative territory this week as businesses continue to come to grips with declining sales and supply chain disruptions.

6 Apr 2020

Brown Brothers Harriman: Emerging Markets Preview for the Week Ahead

EM may get a little support from a potential OPEC+ deal to limit oil. Even if a deal is struck, the impact is likely to be fleeting as the global growth outlook remains terrible. We remain negative on EM for the time being. Head of EM Strategy Win Thin's take on key data drivers this week.

6 Apr 2020

Emerging Markets Already Presenting Opportunities Despite Fear of Second Wave of Outflows

The asset class continues to see significant outflows as a flight to safety escalates, with the vast monetary and fiscal stimulus programmes announced by global governments in recent weeks failing to convince markets of brighter near-term prospects. But investment opportunities may become more pronounced sooner than people think, investors say.

3 Apr 2020

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