Policy & Government
Debt complacency unlikely to affect GCC reform progression
Low oil prices have prompted many Middle Eastern sovereigns to introduce reforms aimed at diversifying their economies away from oil revenues. Many such countries have, or are also planning to tap the international debt markets. With oil prices stabilising and liquidity still strong, will true structural reforms inevitably fall by the wayside?
2 Jun 2016
VIDEO: Greg Saichin, CIO, Emerging Markets, Fixed Income, from Allianz Global Investors
Greg speaks about how Brazilian debt compares to that of other emerging markets from an investor perspective.
2 Jun 2016
Indian corporates forced to bond
Indian corporates will be forced to issue bonds to finance certain ventures. However, despite a pressured banking sector, stronger and better managed corporates would still be able to access bank financing.
1 Jun 2016
Saudi Arabia’s DMO to help develop a yield curve for other issuers
Plans for the creation of a debt management office (DMO) in Saudi Arabia demonstrate how it has begun turning to alternative forms of financing amid low oil prices. The DMO would likely assist in the sovereign’s planned bond sale, which could help create a yield curve for local corporates to follow.
31 May 2016
Noor Bank scales capital market activities with Basel III in sight
Noor Bank’s recently issued Tier 1 sukuk is a sign compliance with Basel III requirement is edging upward on the agenda of various banks across the Middle East. Far from restricting entities in what they can lend or borrow, it has enabled them to make wiser choices when accessing or lending capital.
31 May 2016
Banking Africa’s Corporate Sector
Africa’s corporate sector is grossly under-banked. The corporate sector will undoubtedly be the main driver of Africa’s growth over the medium term. This will require credit.
27 May 2016
Nigeria easing up currency controls could prompt net outflows
The possibility of a partial free float of the naira would benefit the Nigerian economy. The country’s FX reserves would see a reprieve, and low dollar-denominated oil revenues would be bolstered by a reset in naira rates.
26 May 2016
On The Horizon in EMs
Deals, rating actions, currency movements, policy changes, and the occasional bit of hearsay. Here is your daily snapshot of what’s happening, and what’s on the horizon, in emerging markets.
25 May 2016
Turkey’s politics the least of its problems
International markets have reacted positively to recent Turkish political activity, and although there are concerns over further interest rate hikes by the Central Bank, the main concern is in Turkey’s long term economic outlook. Amongst other things, investment has been dwindling.
25 May 2016
Jordan’s Central Bank issues debut sukuk
The Jordanian Central Bank’s issued its debut sukuk this week. The high demand for the Islamic bond demonstrates the interest in Sharia compliant forms of financing, and will likely lead to further issuances from other Jordanian entities according to analysts.
24 May 2016