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.
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.
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.
Action urgently needed even with a liquid banking sector
Akbank’s loan provides solace in difficult times
At this year’s Forum on China-Africa Cooperation, Beijing pledged to prioritise investments into Africa, which could create opportunities for international companies.
Levels of non-performing loans (NPLs) are still high in some parts of Europe, placing pressure on banks’ balance sheets. However, investor appetite is growing for non-performing assets.
The banking software company has appointed Alexandre Menage at a time of rapid growth and expansion for its African business.
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.
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.
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.