The long-awaited election of a new president in Lebanon has been welcomed both at home and abroad. However, the political process in the country is still moving at a snail's pace, and issues such as the influx of Syrian refugees and an eye-watering debt-to-GDP ratio continue to loom large, as Edward Russell-Walling reports.
Long-serving governor Riad Salamé is coming to the end of his fourth term at the helm of the Banque du Liban, Lebanon's central bank. Speculation is rife about whether he will be replaced but, as he tells Edward Russell-Walling, the decision is out of his hands.
Political unrest, high public debt and a drop in tourism have hit Egypt’s fortunes in recent years. But as a successful $4bn debt-raising deal has shown, investor appetite is recovering. Edward Russell-Walling spoke to the team from joint lead manager Citi.
No one in the covered bonds market had a busier start to 2017 than Société Générale Corporate & Investment Banking, seen as a leading liquidity provider. And while others are pulling out of the sector, SGCIB perceives this as a chance to increase its share of the market, as Edward Russell-Walling reports.
Saudi Arabia’s $17.5bn debut sovereign bond was the biggest ever emerging market deal and attracted wide interest in the light of its National Transformation Plan. Rating adviser and global co-ordinator JPMorgan was tasked with getting the story across, which was unique in many aspects, as Edward Russell-Walling explains.
The biggest shocks of 2016 were political rather than financial, and politics will continue to keep financial markets on their toes in 2017 as monetary policy gives way to fiscal stimulus. The long-term effect of a Trump presidency, however, is anyone’s guess, writes Edward Russell-Walling.
As a country with severe issues of financial exclusion, Pakistan is setting up an institutional framework supporting microfinance institutions. The latest innovation is the launch of the Pakistan Microfinance Investment Company. Edward Russell-Walling maps the sector's development.
Although Pakistan's economy has not met all government targets, its macro fundamentals are strong and the China Pakistan Economic Corridor is generating a lot of optimism. Is this enough to attract more foreign direct investment into the country? Edward Russell-Walling reports.
Pakistan's big five banks have largely enjoyed a prosperous past 12 months. However, as Edward Russell-Walling discovers, lower interest rates, a lack of credit being extended to the private sector and the rise of Islamic finance are causing the banks to reassess their strategies.
When China’s Zhejiang Geely Holding Group, owner of LTC, decided to invest £250m in its UK manufacturing capacity for low-emission black cabs, a green bond issue seemed the ideal vehicle. The company chose Société Générale Corporate & Investment Banking as joint global coordinator for a deal that has tapped into investors’ growing interest. Edward Russell-Walling reports.
Proximity to war-torn Syria is piling on the pressure for Lebanon, which faces plummeting tourist numbers and an influx of refugees. Yet the country's GDP continues to show modest growth, and offshore oil reserves wait to be tapped if the political will can be found.