The World Bank has approved a USD500mn loan to Ethiopia, in order to support the government’s ‘Homegrown Reform Agenda’, underpinned by the Second Ethiopia Growth and Competitiveness Development Policy Operation (DPO).
26 Mar 2020
The advent of the COVID-19 pandemic has derailed the outlook of investors worldwide as growth and trade grind to a halt. With no clear end to the crisis in sight, many are increasingly bearish. But according to Hani Redha, Multi Asset Portfolio Manager at Pinebridge Investments, if investors look past what is likely a temporary downturn, then there are opportunities in the distance.
24 Mar 2020
Enormous strides have been made towards developing effective and affordable ways of generating power over the past decade, with technological innovation enhancing the viability of off-grid solutions. For emerging economies, a boom in off-grid energy will likely enhance access to swathes of the population, argues Wood Mackenzie. For state utilities, however, off-grid solutions could be…
18 Mar 2020
While the cartel and Moscow wait to see who blinks first, Brent could fall below the crucial USD50-mark by April.
6 Mar 2020
Mexico’s president, who famously scrapped the partially-completed New Mexico Airport project, is similarly intent on cancelling the oil giant’s contract, which he feels was signed under unfavourable terms. What that will mean for Pemex’s credit – and for the already souring investor sentiment around Mexico – is another question.
29 Feb 2020
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
A number of large Russian banks were briefly teetering on the edge three years ago, as the industry was hit by a wave of bankruptcies and bad headlines. What followed was a five-year cleanse of the sector by the Central Bank and affiliated government agencies, and those lenders that came out unscathed at the end of it are now reaping the benefits of a less crowded and more stable industry. One of…
14 Feb 2020
In January 2019 Termocandelaria, the largest non-hydro power generation company in Colombia tapped the international capital markets for the first time with a USD410mn offering of 7.875% senior notes due 2029, marking the first corporate high-yield bond out of Latin America that year. A year on to the day, Termocandelaria re-tapped its existing bond for a further USD186mn at an impressive 110% of…
6 Feb 2020
Oil prices continued to tumble during the first week of February as the coronavirus outbreak intensified, taking Brent Crude futures down nearly 12% year to date and sending OPEC+ scrambling to contain to counter the impact.
3 Feb 2020
As trade tensions between the US and China begin to cool – at least for now – oil demand is due to grow at a modest rate of 1.2 million barrels per day, up from a multi-year low of 1 million barrels per day in 2019.
31 Jan 2020
A stunning scam that saw Nigerian oil company Lekoil discover a loan it had purportedly secured from the Qatar Investment Authority was fake could harm Nigeria’s efforts to plug a growing gap left by international oil and gas companies.
24 Jan 2020
The past year has seen a number of geopolitical tensions flare up that could potentially impede oil production in a number of key producing countries, according to a recent note from PIMCO.
21 Jan 2020
Saudi Arabia’s Ministry of Energy kicked off the third round of Kingdom’s National Renewable Energy Program (NREP) and is seeking bidders on new projects with a total generation capacity of 1.2GW.
10 Jan 2020