emeafinance News - Article June 2009
Balkan banks hunker down
Foreign banks have pledged their faith in the economies of Southeastern Europe. However, lending is down and political pressure is growing on them to open their purses, writes Eva-Luise Schwarz.
Re-inflating Nigerian banks
The Nigerian stock market, and particularly the banks, have taken a big hit over the last nine months, but optimism is returning among foreign investors, writes Kevin Godier.
An Empty Playing Field
With international banks and private equity firms absorbed with problems in their home markets, the field is free for local investment houses in what could be the best private equity environment in the last 20 years. Nick Lord reports.
JSE sets the pace in African derivatives
South Africa has been home to one of the fastest growing derivatives markets in the world. A merger of the two leading exchanges in the country could cement the market’s global position, reports Liz Salecka.
Small is beautiful
While the top global banks have shed thousands of jobs, some smaller firms have been aggressively hiring. But they face a tough struggle against the larger competition, reports Eva-Luise Schwarz.
From Russia with leverage
The Russian distressed debt market presents some great opportunities for those investors with an appetite for risk, reports Julian Evans.
Picking up the pieces
African states and banks have provided Zimbabwe with more than US$1bn in trade credit lines. Support from regional bodies has provided a much-needed injection of cash, but in the absence of long-term financing or western loan packages, the country is still far from recovery, writes Shannon Manders.
Investors climb aboard Tadawul
In August 2008, the Saudi Arabian stock market finally opened up to foreign investors. After a slow start, volumes are now tripling monthly, and investment banks are racing into the country to position themselves in the new market.
He came, he spoke. He conquered?
President Obama’s speech in Cairo University in early June has been hailed as a milestone in the US’s relations with the Middle East. Here, we present edited highlights of the speech, and some reactions to it in the west, Israel, and the Muslim world.
Slow liberalisation in neighbouring Syria
Lebanon’s destiny has often been closely interwoven with that of its larger neighbour, Syria. Indeed, for 15 years, from the end of the civil war until 2005, the Syrian government would simply hand over to the Lebanese prime minister a list of which ministers it wanted in the Lebanese government, according to some reports.
Beirut rises from the rubble, again
Lebanon has faced four years of violence, civil strife, assassinations and war. And yet its economy and banking sector grow stronger each year, reports Julian Evans from Beirut.
Ahmadinejad landslide prompts angry protests in Iran
While it was not inconceivable that Iran’s incumbent president, Mahmood Ahmadinejad, would win the presidential election there in June, the extent of his victory has raised eyebrows, and tempers, both in Iran and abroad.
No Country For Old Men
Nils Melngailis was brought in by the Latvian government in December to try and rebuild Parex Bank, after it was nationalised in November. He epitomises the country’s stoic resolve to start again after the worst crisis in the country’s short history.
Invest AD marks shift in strategy for SWFs
The re-launch of Abu Dhabi Investment Company (ADIC) as Invest AD, an asset manager for third-party funds, marks an interesting shift in strategy for the region’s sovereign wealth funds.
Searching for Alpha
Iraq’s government is trying to persuade western banks and companies to put billions into the country’s battered economy. The opportunities are great, but so are the risks, reports Julian Evans.
