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Middle East

Pakistan’s External Balance Improved More than Expected Under IMF Programme – JP Morgan Securities

The USD6bn loan to Pakistan approved by the IMF in mid-2019 has gone some way to helping stabilise the country’s economy in the face of domestic and external headwinds.

29 Jan 2020

Kuwait’s 2020/21 Budget Reveals Record Fiscal Deficit – Marmore

Kuwait has published its budget proposal for the fiscal year 2021, which reveals that the nation’s deficit will climb for the sixth consecutive year in a row to reach a record high.

24 Jan 2020

Saudi Arabia Prices Triple-Trancher, Leaving a Few Bips on the Table

The Kingdom of Saudi Arabia hit the market for the first time in 2020 to place USD5bn in bonds across three tranches, including a 35-year tranche – the country’s longest to date.

22 Jan 2020

Issuers Shrug Off Geopolitical Risk as Investors Pile into GCC Bonds, Sukuk

A slew of GCC borrowers have moved to sell bonds and sukuk to global investors a further sign that regional borrowers and capital holders remain unperturbed by any perceived escalation in geopolitical risk.

17 Jan 2020

Masdar to Launch UAE’s First Green REIT

Abu Dhabi-based renewable energy firm Masdar said this week that it plans to launch a sustainable real estate investment trust (REIT) and list the instrument on the Abu Dhabi Global Market.

16 Jan 2020

Does the World Still Need Banks?

Economic and business environments are conspiring to prompt some uncomfortable questions for financial institutions. One such question is – does the world still need banks? Rising competitiveness in the financial sector, persistently low interest rates, technological innovation, and a rapidly changing banking sector are just some of the key developments in the UAE of late where the financial…

15 Jan 2020

Islamic Finance to Grow at Slow Rate in 2020 – S&P Global

The Islamic finance industry is set to grow at a rate of around 5% in 2020, due to weak conditions in economic conditions in the industry’s core markets, according to S&P Global’s ‘Islamic Finance Outlook 2020’. The report also notes three drivers - the rise of FinTech, ESG sukuk, and standardisation - could fuel the industry.

15 Jan 2020

Markets See Omani Succession as “Credit Positive”

New sultan of Oman has huge shoes to fill, but progress on the reforms front is expected to continue, according to MUFG researchers.

14 Jan 2020

Saudi Arabia Launches Third Round of National Renewables Programme, Targets 1.2GW Generation

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

Sharia-Compliant Real Estate Lender Amlak Within Touching Distance of Debt Restructuring

Specialized Islamic real estate financier Amlak Finance PJSC has said it managed to agree credit restructuring terms with about 95% of its existing creditors, putting it within touching distance of finalising its second restructuring in five years.

9 Jan 2020

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