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LATEST ARTICLES
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Now extended from a laggard emerging Europe to post-revolutionary Arab countries, the EBRD’s mandate has never been so stretched. But the multilateral lender’s new president, Suma Chakrabarti – its first British head – says that under him the institution has what it takes to change and fulfil its role.
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New central bank stimulus; banks’ Syria exposure cut by 60%
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Absa acquires Barclays Africa; Barclays’ Absa stake rises to 62.3%.
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Mongolia’s debut bond ran into trouble after a spat within the country's coalition government, underscoring politicial risks in the frontier market. The liquidity-fuelled demand for the country's bond brings to the fore the question of whether there is a bubble surfacing in emerging market debt, more generally.
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South Africa’s Standard Bank has been the most recent public victim of an informal rule that foreign-owned banks must operate onshore in Angola in partnership with a local institution: usually meaning Sonangol or the ruling family.
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This time last year – and the year before that – a great deal of discussion about Qatar concerned its likely ascent from the MSCI’s frontier index to its emerging markets index. Both Qatar and the UAE had been on MSCI’s watchlist for upgrade to the more senior index, and were widely expected to graduate.
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The state has been welcoming to western financial institutions reconsidering their Gulf domiciles. But the structure of investment style and regulation in the emirate is a limiting factor on foreign players for now.
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Angola has all the characteristics of a 21st-century petro-state: an extravagant property market, a corporate sector dominated by government-related entities and, now, a sovereign wealth fund. But can the country afford to embrace Arab Gulf-style state capitalism?
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Intensified property speculation in Dubai is one of the more worrying signs of excessive risk-taking in emerging markets.
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Pushes for higher bid; Abstains from executive pay vote
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Euromoney’s annual survey invites investors to rate the quality of bank research on Middle Eastern equity and debt bearing in mind overall performance and accuracy.
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Bank analysts and equity investors give their opinions on which companies they think are the best by the individual company sectors.
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Best managed companies in the Middle East: this section is sent to bank analysts and equity investors to give their opinions on which companies they think are the best by individual company sectors. Respondents are asked to nominate their top three Middle Eastern companies in order of quality by each company sector. Companies receive four points for a first-place nomination, three points for a second-place nomination and two points for a third-place nomination. These points are then totalled to give an overall score.
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NBAD announces six-month waiver; Rules could promote federal borrowing
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$5 billion under management; Employs advisers and third-party fund manager
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Nine-year tenure ends; Maliki seen to be consolidating power
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For all the excitement about African Eurobonds, things have not always gone smoothly for investors in recent years.
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After setbacks in May, EFG Hermes and QInvest will merge by the end of November, but despite economic and political turmoil, the joint venture is gunning for growth.
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Bond markets would suggest Nigeria’s future is assured. Progress has indeed been made in banking, sovereign finances and power-sector reform. But big challenges remain, as this autumn’s electricity privatizations amply illustrate.
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The strategies and dimensions of Gulf sovereign wealth funds are an arcane subject made more mysterious by the lack – apart from Abu Dhabi’s fund – of published annual reports. Euromoney pieces together a picture of their structure from the fragments of information available.
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There is no clearer sign of the strength of investor interest in emerging markets than the scramble for African sovereign bonds, but how long can it last?
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Moody’s downgrades sovereign; Urge to broaden employee shareholding
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Prices at 5.625%; Issuance increased to $750 million
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Saudi’s mortgage law has been talked about for many years, and for many years talk was all there seemed to be – any more substantial progress seemed elusive.
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A long-awaited mortgage law is about to come into force in Saudi Arabia, but it will be several years before its full impact becomes clear.
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The resignation of the Shoman family could herald a turning point for the pan-Arab lender.
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Global emerging market (GEM) equities will receive a boost if Spain seeks financial help from the ECB, but some emerging markets will fare better than others, say analysts.