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Emerging Markets

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◆ Gulf private placements bite back ◆ Bond new issue premiums rise ◆ CLOs catch a break
Business has sagged in the third quarter, but the pipeline is busy, despite an intractable war
Private bonds are now being offered in the open market wider than where public deals trade

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  • Egypt’s banking system has undergone a transformation. Supported by strong economic growth and a root-and-branch reform programme put in place over the last two decades, the country’s financial institutions are now pulling their weight, providing a vital lubricant for Egypt’s economic success
  • Egypt has reached a pivotal point in its new phase of economic development. For the fastest growing economy in the Middle East, and the biggest investment magnet in Africa, the task is to build on deep reforms to create a more business friendly environment, attract fresh investment and create meaningful jobs for the poorest Egyptians.
  • With deposits replenished, the country’s lenders are gearing up for some bold new growth strategies.
  • Qatar’s economy is in expansion mode, with diversification and investment underpinned by the government’s ambitious Vision 2030 strategy.
  • With metrics improving and GDP growth reviving, Qatar Central Bank Governor Sheikh Abdullah bin Saud al-Thani is confident that the country has emerged stronger and fitter from the recent turbulent conditions.
  • Fitch lowered Saudi Arabia’s credit rating on Monday, following the September 14 attack on Saudi Aramco’s oil infrastructure.