Cover Story: Diverging fortunes of Europe’s so-called PIIGS

A decade after the acronym PIIGS entered mainstream discourse as shorthand for Europe’s peripheral economies, there is a huge disparity in the fortunes of the countries once earmarked as the continent’s most worrisome. While some PIIGS have learned to fly, others are still economically vulnerable and have been left wallowing.

In profile: Carbon Holding’s Basil El-Baz

Tahrir Petrochemicals Corporate has signed a swathe of financing and other contracts to create a US$10.9bn world-scale industrial complex in Egypt, EMEA Finance hears from Basil El-Baz, the man behind the plant who has grand ideas about the future of his country’s export economy.

Vienna 3.0 on the horizon

Actions taken to shore up and support the banking sector in Central Europe can be viewed as a success story, now the focus shifts towards softer goals. Phil Thornton reports.

Appointment news | TBC Bank

Tornike Gogichaishvili joins the Georgian bank as deputy chief executive officer and chief operating officer, and he tells EMEA Finance that the bank, like the country, is well positioned to springboard to the next level.

Central & Eastern Europe news

The long-awaited IPO for Slovenia’s largest bank is underway, with Nova Ljubljanska Banka (NLB) intending to sell three quarters of its shares domestically and in London in the coming months.

Middle East news

The Bahraini sovereign wealth fund had a strong year, boosted by the consolidation of McLaren and the commencement of the Alba Line 6 expansion project. 

Africa news

Angolan president Joao Lourenço is seeking financial support from the IMF to stimulate growth, to cover debts, and to reform the stricken economy.

Capital Markets news

Sukuk issuances have fallen this year relative to last, with a lack of jumbo transactions from GCC countries and limited corporate offerings. 

Development Finance news

The Fund’s HIPC initiative in the mid-90s alleviated US$99bn of debt, however, the cost of servicing current debt stock is back at earlier levels. 

Sustainability news

With a whole identity built around CSR and development finance, Rabobank not only demands that its clients pursue sustainable business models, but also grades them.