Middle East

Bankers are confident that Oman can overcome the obstacles in the way of its borrowing capabilities, namely a large fiscal deficit and speculative grade ratings, in order to raise financing from international lenders.

The hopes of emerging markets participants were proven well founded on Wednesday when US Federal Reserve chair Jerome Powell walked back from the aggressive trajectory of rate hikes he had previously suggested.

Dubai Investments Park Development Company has postponed its planned dollar five year sukuk.

A fresh round of US sanctions on Venezuela’s government will add to the pressure on 46th president of Venezuela Nicolas Maduro to clear off, said bond investors.

Georges Elhedery will be moving from Dubai to London in order to take up a new role as head of global markets at HSBC. He replaces Thibaut de Roux, who reportedly left in September after an accusation of inappropriate conduct.

Turkey hit screens for a quick trip to the euro market to sell its second bond of the year on Thursday, and managed to slice 25bp from its yield.

The Republic of Turkey on Thursday returned to the capital markets for the second time this month, launching a €1.25bn six year bond and taking advantage of a recent buying spree in the country’s bonds.

The Republic of Turkey has returned for a bond in euros after the $2bn note it sold earlier this month rocketed in value.

Dubai Investments Park is hitting the road to market a five year fixed rate senior unsecured Reg S only sukuk.

Emerging market investors are enjoying an excellent start to the year in the secondary market, but primary supply has not maintained its strong start to the year. Bankers and investors are confident that issuers will get moving soon though.

Backed by a resilient and toughened banking system, Turkish debt could be one of the most rewarding investments in loan and bond format alike. As the country recovers from the currency crisis of August 2018, it is high time for those still standing on the platform to board the Turkish train.

Qatar National Bank has sold a Rmb500m ($73m) three year bond through Standard Chartered, continuing its ongoing presence in this market.