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LATEST ARTICLES
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Saudi Arabia is six months into its programme to attract international institutional investors to its stock market. The verdict so far: an impressive willingness to listen and communicate, but slow progress in terms of getting any money in.
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The government insists that its banking sector will remain closed to external investment. But can the country’s economy thrive without better access to international credit?
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Road-building is a classic tool to boost a flagging economy. But as Luis Fernando Andrade, president of Colombia’s national infrastructure agency, tells it, it isn’t plain sailing.
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With a struggling economy, Brazil will continue to rely heavily on its state development bank to provide long-term finance for crucial infrastructure projects, unless private-sector alternatives can be found.
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The new trading platform for emerging-market currencies is now live with the Indian rupee, Brazilian real, Chilean peso and Colombian peso.
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Euromoney Country RiskInvestors snapped up Angola’s $1.5 billion Eurobond debut this month, and yet the sovereign borrower’s country-risk score has plunged, putting it among the world’s worst default risks.
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Euromoney Country RiskA new government emphasizing Hungarian-style nationalist, unorthodox policies with increased public spending has raised uncertainty over Poland’s risk profile. However, the sovereign borrower is in a strong position and is less indebted than Hungary.
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The Trans-Pacific Partnership (TPP) has been criticised in the US for ignoring the question of currency manipulation. The US Treasury hoped it could appease those concerns with a joint declaration by the countries involved, pledging to avoid such practices – but critics look far from convinced.
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One month in and it’s a case of so far so good for the China International Payment System (CIPS), even allowing for limitations in operating hours.
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Having done well from their exposure to the RMB during the past decade, the currency’s surprise devaluation in mid-August should force Chinese companies to brush up on hedging strategies that were rusty at best, but many are instead simply focusing on opportunistic borrowing strategies.
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A bullish market backdrop did little to raise hopes for global growth at the IMF/World Bank meeting
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They may be well-capitalized, but their funding needs are rising, just as the buyer base falls away.
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Euromoney Country RiskThe borrower’s fundamentals are pointing to a downgrade that would chalk up a trio of Brics on junk status based on S&P’s metrics.
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Companies that use over-the-counter (OTC) derivatives to manage foreign-currency earnings exchange-rate risk will have taken note of recent pro-active developments on market reform in Asia and Africa. The next step – mandatory clearing in Asia – will trigger a wave of margin compression and shifts in market infrastructure.
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Allowing private equity firms to take over struggling banks is an inherently risky strategy for governments and regulators.
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Bankers are always looking for a new frontier, and they think they’ve found one in Myanmar. While the country’s potential is unquestionable, those hoping to turn a quick profit are likely to be sorely disappointed.
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The drop in the oil price has combined with a general lack of liquidity to put issuers from Gulf states in an unfamiliar position. There may be no need to fear a crunch, but the region’s issuers must get used to the fact that they will have to pay up to raise capital.
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SME banking has been a top priority for Turkish lenders since the country’s regulator called time on the consumer boom in late 2013. Can the segment keep its cool in the face of rising local economic and political pressures?
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Turkey’s economy has been slow to go digital but increasing smartphone penetration is offering unparalleled growth opportunities for banks, mobile operators, e-commerce platforms and a host of new generation players. Striking a balance between competition and collaboration will be key as aspiring innovators face up to the challenges posed by big data, regulation and security.
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China's quarter-point rate cut last Friday is the latest attempt to revive a flagging economy. But although currency liberalization is on the agenda in the longer term, the People's Bank of China is unlikely to be ready to cede control of the renminbi’s de facto dollar peg just yet as depreciation pressures grow.
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Latin America’s economies are suffering a rapid and severe shift in their terms of trade. The development of free trade areas may provide a way forward and global initiatives, such as the Trans-Pacific Partnership, could transform the region’s future.
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Still scarred by a leadership crisis in 2014, Ecobank surprised many by looking outside the bank for a new CEO. Ade Ayeyemi already sees himself as an insider just a few weeks into the job – but can he live up to expectations of this ambitious pan-African bank?
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Interest rate of 26% for 165-day notes; international return inked in for 2016.
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Highest mark of any African Eurobond in 2015; debt sustainability questions linger.
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Russia is a safe haven, say bankers; local liquidity holding back supply.
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Toxic outlook for economy and NPLs; impact of higher NIM sparks debate.
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Central bankers in Latin America stress policy limits; macro-prudential tools out of favour.
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Guarantees to aid private sector flows; BNDES scaling back but still dominant player.
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GDP forecast up by 6.5% in 2015; reserves increase fourfold.