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Middle East

The Waning Influence of OPEC

Since its establishment in 1960, OPEC has seen its proportion of global oil production gradually decline. With the formation of OPEC+ in 2016, which saw OPEC agree to cut production alongside a number of other producers, and Qatar’s recent exit from the bloc, questions have been raised about the cartel’s waning influence – leading some to seriously consider what a world without OPEC would look…

21 Dec 2018

Brown Brothers Harriman: Emerging Markets Preview for the Week Ahead

Global growth concerns are likely to keep EM on its back foot. China and the eurozone reported weak economic data Friday, and even a much stronger than expected US retail sales report was not enough to turn market sentiment.

17 Dec 2018

Omantel Treasurer: Increased Funding Costs, IFRS9 to Weigh on Capex-Heavy Sectors in GCC

Omantel, Oman’s majority state-owned telecommunications company, last year completed a USD2.25bn acquisition of shares in Zain Group, a regional competitor. The deal was funded with a bridge loan that was later refinanced with a term loan and the largest corporate bond issued out of the country – a dual-tranche senior secured offering which attracted a wide group of investors from around the…

7 Dec 2018

MEGA in MENA: Large-Scale Infrastructure Pipeline Deepens and Broadens as PPP Rules Gather Pace

The GCC is rarely known for doing anything in half-measures, and infrastructure projects – which have grown in number and size in recent years – are no exception.

4 Dec 2018

HSBC Turkey on External Corporate Funding, Asian Capital Links, and Return to Normalcy

Against a fairly challenging market backdrop, borrowers in Turkey have pushed through with a number of landmark transactions in 2018 as they look to prioritize risk and liability management. With an economic recovery on the horizon, we speak Eda Tanyel, Head of Structured Finance at HSBC in Turkey about the credit market outlook for the remainder of the year and beginning of 2019, how corporates…

30 Nov 2018

Mohammed Khnifer: Short-Term Loans Not the Answer to Long-Term Funding Needs

Mohammed Khnifer, Senior Associate, Debt Capital Markets at the Islamic Corporation for the Development of the Private Sector (ICD), spoke to Bonds & Loans about Saudi Arabia’s real estate sector, the upcoming inclusion of Saudi debt in the JP Morgan indices, and the development of regulation within the country.

28 Nov 2018

Rimrock Capital: “Concrete, realistic and credible policy needed to improve Turkey’s credit”

Turkey’s credit fundamentals are deteriorating, squeezed by high exposure of the corporates to USD debt and rising NPLs. Strong and transparent policy measures – including supporting local banks if necessary – are needed to breath life into the economy, Novruz Bashirov, Portfolio Manager at Rimrock Capital, told Bonds & Loans.

26 Nov 2018

GCC Credit Allure Strong Against Broader EM Challenges, But Fundamental Shifts Can’t be Ignored

The outlook for GCC credit remains buoyant through the remainder of the year despite a brief lull through the summer months. Still, deeper and more frequent questions about the structural challenges faced by many of the GCC economies suggest more uncertainty lies ahead in the longer term, according to bankers, borrowers, investors and economists who spoke with Bonds & Loans on a recent research…

23 Nov 2018

Quick Take: Burcu Geris, Vice President and CFO, TAV Airports on the Markets, Treasury Objectives

Bonds & Loans speaks with Burcu Geris, Vice President and CFO, TAV Airports Holding about the company’s funding objectives and how markets are influencing the company’s approach to fundraising.

22 Nov 2018

Bonds, Loans & Sukuk Middle East Awards: The 2018 Winners

This year’s Bonds, Loans & Sukuk Middle East Awards saw no shortage of firsts as the regions borrowers and finance professionals pushed the boundaries of the possible through new structures and techniques in a range of transactions.

16 Nov 2018

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