Macro
Odeabank CEO Huseyin Ozkaya on Disrupting Turkey’s Banking Incumbents
Despite heightened volatility in recent months Turkey’s banking has remained remarkably resilient throughout, retaining strong levels of liquidity and manageable levels of NPLs among other things. We speak with Huseyin Ozkaya, CEO, Odeabank about the future of the country’s banking sector, and where Odeabank is looking for lending opportunities, and Basel III implementation.
31 Aug 2016
CFO View: Drilling Down into PDO’s Funding Strategy with Haifa Al Khaifi
Haifa Al Khaifi serves as Finance Director of Petroleum Development Oman, LLC. She joined the company in 1995, and currently manages the company’s capital and operational funding strategy. Haifa also serves as a Board Member and Treasurer for the Oman Society for Petroleum Services, and an Advisory Board Director for the Academic Innovation Assistance Program (AIAP) at Sultan Qaboos University.
30 Aug 2016
Improving conditions sees EM European lending benefit the most
Credit activity is rising across EMs following accommodative central bank policies. Emerging Europe has benefitted the most across EMs, with increasing demand for loans being supported by improving lending conditions and lowering of NPLs – but Turkey bucks the trend.
25 Aug 2016
Emerging Markets in a Post-Brexit World: It’s The Politics, Stupid
Emerging Markets have been buffeted by a variety of negative factors this year, but have remained resilient. The overriding factor here is that the global liquidity backdrop remains supportive for risk. We expect this favourable outlook to continue into year-end. Why?
24 Aug 2016
As ETFs overtake traditional funds, distortions arise
Investors continued their hunt for yield this week as fund managers ploughed some US$13.2bn into emerging markets since late July, according to figures recently published by the IIF. However, investors are getting increasingly concerned about distortions caused by liquidity imbalances and the growing uptake of ETFs.
23 Aug 2016
Peru looking solid but susceptibility to external factors worrying
Peru has become one of the best investment destinations for foreign investors in Latin America. Although the outlook for the country’s economy is improving, Peru’s over-reliance on mining means the it is very susceptible to external factors such as a global economic slowdown or US rate hike.
22 Aug 2016
Middle East to see busy Q3 as credit pipeline swells
The recent increase in Middle Eastern debt issuances over the last month signals the opening of a new window for both borrowers and investors in the region. A strong pipeline is already in the making, which will attract a significant amount of demand from a wider investor base than before due to the quality and higher yield of Middle Eastern debt compared to other EMs.
22 Aug 2016
Yen-denominated debt in LatAm: Will issuers think twice?
The Japanese yen dipped below 100 against US dollar for the first time since the Brexit referendum result shocked the markets on 24 June this year. With a few brief exceptions, the yen has been on the rise since mid-2015, which could give some Latin American issuers pause when considering the Samurai bond market, particularly given the increasingly prohibitive cost of swaps.
18 Aug 2016
Too soon to tell if Russo-Ukrainian tensions will affect Russian bonds
Tensions between Russia and Ukraine are on the rise again, with the markets reacting negatively to an escalation before the weekend, though tempers seem to be settling. This has again been reflected in the markets, with the Russian rouble outperforming other EM currencies early this week. At this stage tensions are also unlikely to impact the Russian bond market, and any effect would likely be in…
15 Aug 2016
Turkish mortgage rate cut unlikely to significantly impact bank profitability
Despite concerns that a cut in mortgage lending rates will impact the profitability of the Turkish banking sector, fears appear to be overblown. The cut will likely only apply to a small portion of banks’ loan portfolios, and the sector remains very solid. As such, not even mortgage backed bonds are likely to be affected.
15 Aug 2016