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Chemical sector's growing uncompetitiveness a problem when it comes to attracting investment in the capital markets
When staff complain, they deserve a fair hearing, not a wall of silence
Benin reaped the rewards of its sukuk debut last week, and will do so for years to come
Little green men could be closer than they appear
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When Saga's customers also become its investors later this month, it could trigger a spiral of failure or success. Combining the two groups will mean that any result, good or bad, is likely to be self-sustaining.
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Sinopec's $5bn whopper last month was the first of a series of jumbo deals from Chinese SOEs. With so much liquidity being taken out of the market in a record month, it was probably lucky to have beaten its peers to market. But that's not always how it works, as China Cinda might be about to show. -
The CLO market is ready for more supply and ripe for innovation, but that optimism is tempered by threats of a liquidity crunch in non-Volcker-compliant triple-A paper. The market is hoping for a deal on legacy CLOs to stop a trading freeze, but if that doesn't happen, it needs to wake up to two uncomfortable truths.
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The Reserve Bank of India is banning banks from helping companies convert their rupee obligations into offshore debt — a move that is expected to put immense pressure on Indian corporates already struggling to refinance loans. It will be hard going but the measures are a step forward in cleaning up the country’s lending system.
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Having been labelled ‘toppy’ in some quarters last week after a quick-fire 15 year sovereign sukuk, there is no sign of a retreat this week from Dubai or its neighbour Abu Dhabi. Investors have set aside nerves once again and scampered to fill their shopping carts with Majid Al Futtaim and Taqa 10 year bonds. Then again, there are plenty of reasons to brush off toppiness for now and say Dubai ain’t all bad.
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Investors blame the banks, banks blame the issuers, and everybody hopes the regulator will step in to save the day. But if companies are to stop hiring the entire street for Hong Kong IPOs, the incentives for bankers need to change.
