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LATEST ARTICLES
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Euromoney Country RiskA return to the international capital markets in April is whetting the appetite of yield-hungry investors eager to snap up the $1.5 billion Eurobond likely to herald the first in a series of market offerings. But are the sovereign borrower’s risks being ignored?
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Dubai’s success as a financial centre depends on whether or not it has succeeded in its aims. And what were they?
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Much has been said about the unfortunate timing of the Emirates NBD merger just before the global financial crisis, but what is often forgotten is just how challenging that merger would have been in any conditions.
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The country hopes a deal can revive its stumbling economy, but it will be hard to stick to the IMF’s conditions when the 2016 elections are so close at hand.
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If timing is everything, then Emirates NBD should be nothing. The merger that created the bank brought together two wholly dissimilar institutions, just as the global financial crisis brought Dubai to the brink of default. It has suffered ever since. Until now. Have Emirates NBD – and Dubai – really turned the corner?
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Biggest-ever bond sold in two tranches of 10 and 15 years, underpinned by robust banks.
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Euromoney Country RiskRisk experts have become increasingly concerned about prospects for the majority of African sovereign borrowers that are considering issuance in 2015. Will investors demand a premium?
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Cote d’Ivoire’s latest Eurobond and the first out of sub-Saharan Africa this year indicates investor appetite for African sovereign debt and the country’s strong fundamentals.
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Ghana has been in discussions with the IMF since September over a new programme, but the March deadline is likely to be missed as the administration seeks to resist pre-election giveaways and cut the public-sector wage bill, say analysts.
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Angola could become the first African sovereign bond borrower since the great oil price crash this year in a debut deal that will set the tone for frontier-market debt.
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In a bid to tackle Ghana’s economic woes and restore confidence in government, Euromoney understands that the president might replace the central bank governor and minister of finance in the next couple of months.
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The falling oil price has hit oil exporters hard, especially in Africa. But the region has three strengths that should protect its capital markets from the current crisis.
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The slow and steady rise of high net-worth individuals across Africa has piqued the interest of wealth managers. But who has the upper hand – regional players close to their clients, or global names with solid reputations?
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The World Bank reports that banks need profound reform; analysts catalogue a long list of problems; and the country’s new cabinet has been roundly rejected by most political parties. Can the new president juggle competing political factions and unblock the economic pipeline to bring badly needed growth quick enough?
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The SNB's removal of its currency floor with the euro and a rising greenback call into question the strength and wisdom of currency pegs elsewhere, especially in the Gulf and Hong Kong.
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African capital markets have been driven by a boom in Eurobond issue during the past two years, but supply and demand has come under fire after plummeting oil and commodity prices.
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M&A volumes are on the rise in Africa, but due diligence is a must for a successful partnership in a fragmented region.
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African DCM becoming more sophisticated; debt sustainability a concern.
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Judge rules profits must be explained; 28 people to have their email searched.
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Many of South Africa’s leading companies see a once-in-a-generation chance to build businesses across the continent. Banks in South Africa spy an opportunity too, by growing around the region alongside their clients. Can they make the most of it?
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The Angolan government could provide greater financial support to its fledgling $5 billion sovereign wealth fund (SWF), according to its chairman, amid rising concerns over the impact falling oil prices will have on the country's economy.
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Euromoney Country RiskThe sovereign’s risk score has fallen in recent days as lower oil prices add to the Kingdom’s existing economic, political and structural weaknesses.
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Crude oil prices dropped precipitously in the latter part of 2014, raising challenging questions about where they might go in 2015. Undershooting well below a mythical fundamental equilibrium price is a distinct possibility if history is any guide.
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South Africa’s irregular and failing electricity supply has become the target of a special task force as Eskom struggles to deliver enough electricity to power the economy.
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Illiquid markets, limited exchanges and sometimes vague institutional information make Africa’s securities landscape difficult to navigate. Firms such as Imara are in a good place to act as guides.
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Euromoney is on a health kick. Stand outside our UK building near St Paul’s Cathedral, and you’re as likely to see one of our team drawing on an e-cigarette as you are someone with a traditional ‘fag’ these days.
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The opening up of the Saudi Stock Exchange to foreign investors could be a watershed moment for the country’s capital markets. Bankers predict a rush of deals to soak up demand. But what will foreign investors find in the Middle East’s biggest market? And can structural issues over settlement be solved?
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A look at Qatar Foundation Endowment, QPI, Qatar Sports Investment, Qatar Luxury Group and Hassad Food.
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Asset-hungry and cash rich, Qatar keeps grabbing the headlines. But there are questions over which branch of Qatar’s wealth actually owns its trophy assets, while it is becoming increasingly hard to fathom whether the authorities are coordinating these investments.