Middle East
-
Goldman Sachs International conducted business with Lars Windhorst, the colourful German financier, despite warnings from its compliance department that he was a high risk counterparty. -
The CEEMEA bond market has been shaken up in 2018. With some of the major issuers out of action, the Middle East has come into its own and heading the charge is Standard Chartered, which enjoyed a breakout year in the region.
-
The Turkish Central Bank has, much to the relief of many in capital markets, kept its central interest rate steady at 24%, paving the way for the sovereign to return to the bond market in January.
-
Opec+, the oil producing countries’ cartel and their non-member oil producing allies, decided to cut oil production by 1.2m barrels a day, sending the Brent crude price up 5%. Market participants are evaluating the potential impacts on capital markets and international relations.
-
Akbank, one of the largest banks in Turkey, is preparing a TL3bn ($558m) rights issue amid fears of an increase in non-performing loans as the Turkish economy enters a slowdown.
-
The Turkish government is mulling plans to print asset backed securities against the country's banks' mortgage stock. Some are calling the idea a “bad bank in disguise”. It isn't, but Turkey will need one.
-
Loan bankers and market analysts are weighing up the implications of Qatar's shock announcement on Monday that it would leave the Organisation of Petroleum Exporting Countries in January after 57 years of membership, writes Mariam Meskin.
-
Turkey’s Ziraat Bank is planning to issue covered bonds and has published a base prospectus for its €1bn programme. However, it is questionable whether a euro benchmark from the issuer will be seen any time soon.
-
Saudi Electricity Co has closed a $2.15bn revolving credit facility after months of talks, as bankers concede that banks are "unlikely to turn the tap off" on Saudi deals amid international political upheaval.
-
-
High hopes for a bumper corporate finance year in Saudi Arabia have been dashed by the pulled Aramco IPO, the blockade of Qatar and the murder of journalist Jamal Khashoggi, writes David Rothnie.
-
A Russia euro-denominated bond has taken investors by surprise this week, as emerging markets issuers seem to be taking their last gasps in the bond market this year.
