LONDON: With refinancing becoming a giant headache for sovereign debtors across the globe, some struggling emerging economies are securing guarantees from richer nations or multilateral development banks to bolster their chances of selling bonds to (...)
LONDON: Ratings agencies have no plans to give the United Arab Emirates or Dubai a credit rating because their governments have not asked to be rated, and their lack of transparency would make a credit assessment difficult, a senior analyst at Fitch (...)
LONDON: Tensions over Iran, unrest in Syria and concern about refinancing of upcoming Dubai debt are making international investors wary of Gulf and other Middle Eastern markets this year, just as developed markets enjoy fresh gains.
Storming oil (...)
LONDON: The European Bank for Reconstruction and Development said on Tuesday it had started donor-funded activities in North Africa through a technical cooperation fund, ahead of plans to extend the development bank's mandate into North (...)
CAIRO: Egypt's benchmark share index jumped 5.4 percent on Tuesday, buoyed by smooth voting in a parliamentary election, but foreign investors said they were waiting on the sidelines for an end to political turmoil and a budget crisis.
Egypt is (...)
LISBON: Egypt's central bank has not intervened in the foreign exchange market since early February, the bank's deputy governor said on Thursday, and sharp falls in international reserves are likely to ease off.
The central bank intervened a few (...)
LONDON: Stock markets in Egypt and Tunisia are starting to lure back foreign investors after the ousting of decades-old autocratic regimes, but some blue-chip shares could struggle because of links to previous governments.
While conflict and (...)
LONDON: Abu Dhabi-owned Invest AD's asset management arm has been buying Egyptian stocks this week as the stock exchange reopened after seven weeks and stock prices reached attractive levels, the firm's CIO said on Thursday.
"We reduced our (...)
LONDON: Abu Dhabi-owned Invest AD's asset management arm has been buying Egyptian stocks this week as the stock exchange reopened after seven weeks and stock prices reached attractive levels, the firm's CIO said on Thursday.
"We reduced our (...)
LONDON: The cost of insuring Egyptian debt against default edged up on Tuesday but other Middle Eastern debt insurance costs fell sharply, as tensions in the region eased.
Protesters in Egypt called for a push on Tuesday to eject President Hosni (...)
LONDON: Cairo financial markets, reopening from a prolonged closure and a steep selloff, cannot look forward to much support from overseas portfolio managers who want more clarity on Egypt's economic and corporate outlook before venturing back to (...)
LONDON/DUBAI: Pivotal talks this week on restructuring the debts of Dubai World could be a trigger for investors to return to the Gulf region, under a cloud since the state firm suspended bond payments last year.
Dubai World has invited creditors (...)
Sovereign borrowing still eludes the Islamic bond, or sukuk, market, leaving investors hungry for a benchmark issue to reinvigorate trading after the credit crunch and the Dubai World crisis.
Where issuance from euro zone and emerging market (...)