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Emerging Markets

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◆ How banks and bankers are operating in the region under threat of military escaltion ◆ Bond issuance to resume — but how? ◆ Dwindling fee pool poses questions over long-term future for banks
Toto, I have a feeling we're not in EM anymore
A dozen Middle East bonds postponed as Iran conflict flares

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  • Sergio Díaz-Granados, executive director for Colombia at the Inter-American Development Bank (IADB), will become the new executive president of Latin American multilateral lender CAF in September after obtaining more votes than Argentine candidate Christian Asinelli.
  • Mexican car parts maker Nemak began meetings with European investors on Monday as it looks to become the first Latin America borrower to sell sustainability-linked bonds in more than one currency.
  • The IPO of Al Yah Satellite Communications Co, the Abu Dhabi satellite company, is covered throughout the initial price range, on a 30% deal size, according to sources close to the deal.
  • The Emirate of Sharjah is returning to the international bond market just months after its last visit, but this time marketing a sukuk that will place it among the ranks of major emerging market issuers — both sovereign and corporate — to have raised cash at competitive levels recently with the Sharia-compliant instrument.
  • China’s cybersecurity task force has ordered online platforms Full Truck Alliance (FTA) and Kanzhun, both recently listed in New York, to stop signing up new users. The move came immediately after the regulator ordered ride-hailing service Didi to be removed from mobile app stores.
  • South Korea’s busy IPO market is continuing to pump out deals, with the latest listings coming from Kakao Pay and Covid-19 test maker SD Biosensor. But issuers still have to be realistic, as Krafton found out when it shot for, but missed, the country’s largest ever IPO.