Known for a wide range of high-profile investments into companies like automotive heavyweight McLaren Group and metals giant Aluminium Bahrain (Alba), Mumtalakat – Bahrain’s sovereign wealth fund – is doubling down on its search for investment opportunities that have a lasting positive impact on the real economy. Several months after it issued a debut sukuk and ahead of its 15-year anniversary,…
4 Sep 2019
With GDP growth set to deteriorate and political volatility ever-present, the banking sector still remains exposed to weakening asset quality and currency fluctuations. However, key metrics indicate that, short of a period of severe and prolonged market stress, the banking sector will be able to ride out the next storm.
16 Aug 2019
As rates continue to fall in many parts of Asia, investors have increasingly turned to emerging markets in their hunt for yield. But given their generally cautious and conservative approach to investment, many have favoured so-called ‘safe emerging markets’. Now, as growth begins to soften in China, a growing number are turning their attention to the GCC’s corporate credit market to find secure,…
9 Aug 2019
In the face of relatively abundant banking sector liquidity and stabilising oil prices, CFOs and treasurers have rightly questioned the need to shift their funding focus away from the region’s deep-pocketed lenders. With the global growth outlook looking more uncertain, new trade wars becoming a near daily feature of the global policy discussion, and in light of recent moves to bolster the…
2 Aug 2019
UAE-based lifestyle conglomerate Majid Al Futtaim broke new ground earlier this year when the company placed the world’s first benchmark-sized corporate green sukuk. Bonds & Loans spoke with John Arentz, Head of Treasury at Majid Al Futtaim, about the company’s green capital markets debut, the strategy underpinning the transaction, and why – green bond or not – treasurers need to bolster their…
26 Jul 2019
After a slide on the lira in August 2018, followed by creeping inflation, Turkish corporates have had a rough year. One sector that has rode out the storm unscathed however, has been renewable energy developers. Bonds & Loans speaks with Hakan Aras, Chief Financial Officer for Borusan EnBW Enerji about ECA financing, Chinese investment and the company’s expansion plans.
18 Jul 2019
For Asian investors searching for returns across emerging markets, the GCC has long been considered a relatively low-risk, higher-yielding option. But with geopolitical tensions reaching a boiling point, and a number of GCC states fiscally exposed to oil price swings, former safe havens could become a riskier bet.
16 Jul 2019
After enduring significant volatility in 2018, many Turkish corporates are struggling to keep their balance sheet in order and retain access to affordable financing. Some, however, like Turkcell – the country’s largest telecommunications operator – are bucking the trend. Bonds & Loans speaks with Osman Yilmaz, Chief Financial Officer of Turkcell about the company’s shift towards an asset-light…
10 Jul 2019
A closer look at the major strengths, weaknesses, opportunities and threats influencing the investment and debt capital markets climate in the GCC economies.
27 Jun 2019