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Saudi Banks’ Margins Squeezed by Fed Cut – Fitch

The US Fed’s recent decision to cut interest rates by a further 50bp is placing additional pressure on the margins of Saudi Arabia’s banks, according to a recent report from Fitch Ratings. Following the lead of the Fed, the Saudi Arabian Monetary Authority (SAMA) cut its repo rate on Monday by 50bp, bringing rates in the Kingdom to an all time low of 1%. But the Kingdom’s banks will feel the…

20 Mar 2020

As Emerging Market Sovereign Credits Come Under Pressure, Ukraine Could Catch a Break

With conditions deteriorating across the board in the sovereign space amid the worsening COVID19 pandemic, Ukraine – which has seen surprisingly few cases so far – could come out stronger on the other end, Goldman Sachs analysis indicates.

20 Mar 2020

Downgrade of South African Sovereign Now 'Probable' – Nedbank Analysts

As the ongoing COVID-19 pandemic collides with a crash in the oil price and a broader deceleration of growth, the South Africa sovereign looks set to struggle. According to Jones Gondo, Senior Credit Analyst and Nthulleng Mphahlele, Analyst at Nedbank, the risk of the big three rating agencies downgrading South Africa has been significantly heightened.

19 Mar 2020

GCC Countries Race to Introduce Stimulus Measures to Support Economy and Boost Lending

GCC countries led by Saudi Arabia and the United Arab Emirates this week introduced a raft of stimulus measures to support businesses and the banking sector.

19 Mar 2020

Coronavirus is Turning Out to be the Great (Valuation) Leveller for Markets

The global economy may be going into meltdown mode as governments the world over struggle to contain the spread of COVID-19, with investors feeling the brunt of a global selloff that seems to have left no asset class – including emerging market debt – unscathed as economies grind to a halt. While it is still too early to fully understand the potential human, economic, and market fallout, many…

19 Mar 2020

IDFC Fund Manager: With Rate Cuts Around the Corner in India, Investors Should Avoid Panic-Selling and Aim for Quality Credits

Despite recent selloffs and growth concerns in India, investors should still find value in higher-quality credits, according to the head of fixed income at Mumbai-based IDFC Mutual Fund.

19 Mar 2020

Emerging Economies to see Boom in Off-Grid Renewables – Wood Mackenzie

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

EM Outflows at Near-Record Level since January– IIF

The cumulative negative impact of the coronavirus-related shocks on capital volumes going into EMs has surpassed lows seen during the Taper Tantrum and the peak of the global financial crisis, latest numbers posted by the IIF suggest.

18 Mar 2020

Indorama Inks USD255mn Sustainable Ninja Loan in ‘First’ for Thai Market

Thai petrochemicals giant Indorama Ventures this week signed the country’s first cross-border sustainable ninja loan, it revealed.

18 Mar 2020

Debt Capital Markets Are Crucial to Success of Saudi Vision 2030, but Some Bankers Say it's Underutilised

Vision 2030, Saudi Arabia’s ambitious plan to transform the economy and diversify away from oil production, has seen the country develop the largest project pipeline in the region. But the government’s apparent reluctance to raise funds through the debt capital markets risks undermining Vision 2030, according senior investment bankers based in the region.

18 Mar 2020