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Plummeting oil prices resulting from a drop-off in global demand and a simmering price war with Moscow has put a severe strain on Saudi Aramco’s balance sheet in the short-term. But in looking further ahead, the company appears well-placed the weather the current storm.
1 May 2020
The pandemic poses ‘significant downside risks’ to South African banks, according to Fitch Ratings, as asset quality and earnings face downward pressure.
30 Apr 2020
As economies across the globe are rattled by the economic chaos caused by the coronavirus pandemic, governments and central banks have been pulling out all the stops to buoy their economies. Quantitative easing (QE) is increasingly being deployed worldwide, with total purchases set to top USD6tn this year according to Fitch Ratings.
29 Apr 2020
International investors have fled Brazil’s capital markets to the tune of USD22.2bn in March, according to data from Itau, the largest monthly outflow on record.
28 Apr 2020
Franklin Templeton India has announced the closure of six of its mutual funds in India, believing it to be the “only viable option to preserve value for unitholders and to enable an orderly and equitable exit for all investors in these unprecedented circumstances” according to a press release.
28 Apr 2020
The Asian Development Bank has announced a USD1.5bn financing package to support the Philippines’ response to COVID-19. The budget support will help protect the Philippines’ population and the healthcare system.
27 Apr 2020
Falling wages and rising unemployment among migrant workers will lead to the sharpest drop in recent history, according to the Group’s report.
24 Apr 2020
Further rate cuts are expected in Mexico after growth forecasts are revised down again, while the benchmark rate is now forecast to be just 4.75% by end of the year.
23 Apr 2020
The twin shock of coronavirus and plummeting oil prices have put the brakes on global growth. Combined with widespread outflows, a strengthening US dollar and a global recession, emerging markets face an unprecedented flurry of headwinds. According to a recent report from Fitch, weaker rated GCC sovereigns may be vulnerable to a downgrade in the current market conditions.
23 Apr 2020