Latest news with #CEEMEA
Bloomberg
7 days ago
- Business
- Bloomberg
Schultz: SARB in a Position to Ease Rates More
South African president, Cyril Ramaphosa, has dumped his embattled education minister in a bid to ease tension within the coalition government and pave the way for budget approval. Meanwhile investors are awaiting South Africa's June CPI print on Wednesday, July 23 and the SARB's rate decision on July 31. Jeffrey Schultz, Head of CEEMEA Economics at BNP Paribas Markets 360 spoke to Bloomberg's Horizons Middle East and Africa's anchor Joumanna Bercetche and Chief Africa Correspondent Jennifer Zabasajja. (Source: Bloomberg)
Yahoo
08-07-2025
- Business
- Yahoo
Liquidnet Advances Emerging Markets Strategy With New Hire
Michael Fidance appointed as Head of CEEMEA Equities to drive growth across Central and Eastern Europe, the Middle East and Africa. LONDON, July 08, 2025--(BUSINESS WIRE)--Liquidnet, a leading technology-driven agency execution specialist, today announced the appointment of Michael Fidance as Head of CEEMEA Equity Markets. Based in London and reporting to James Whitehead, Head of Trade Coverage, EMEA, Fidance will be responsible for accelerating the firm's growth across Central and Eastern Europe, the Middle East and Africa. His mandate includes expanding access to new markets and local liquidity, strengthening product and distribution, and deepening engagement with both local and international asset managers. James Whitehead, Head of Trade Coverage, EMEA, said: "Michael brings extensive regional insight and a proven track record in building client-focused businesses. His appointment reflects our ambitions to broaden our footprint across CEEMEA equity markets, where our Members are increasingly looking for trusted execution partners who can deliver scale, liquidity and local access." Fidance brings over 25 years of experience in global equity and fixed income markets. The bulk of Fidance's career to date has been at HSBC, where he held various senior roles in Sales and Trading across Emerging Market Equities. Most recently, he served as Head of Sales for the newly established Execution Solutions business at State Street Global Markets, a firm he joined following its acquisition of CF Global Trading. Before that, Fidance served as Head of Sales for CF Global Trading in Europe, where he played a key role in preparing the firm for acquisition. He also held senior roles at the European Bank for Reconstruction and Development (EBRD) and Merrill Lynch, bringing deep expertise across emerging markets, execution strategy and client advisory. Michael Fidance, Head of CEEMEA Equities Market, commented: "In CEEMEA, tradeable liquidity is the single biggest variable affecting capital markets development, be it in asset allocation, index inclusion, or even in valuation. Liquidnet is a market leader in the equity space worldwide. With this mandate in Emerging Markets being built globally, I truly believe we will help change the trajectory of CEEMEA equities to grow stronger and bigger than ever before." About Liquidnet Liquidnet is a leading technology-driven, agency execution specialist that intelligently connects the world's investors to the world's investments. Since our founding in 1999, our network has grown to include more than 1,000 institutional investors and spans 57 markets across six continents. We built Liquidnet to make global capital markets more efficient and continue to do so by adding additional participants, enabling trusted access to trading and investment opportunities, and delivering the actionable intelligence and insight that our customers need. For more information, visit and follow us on X @Liquidnet. About TP ICAP Group TP ICAP is a world-leading markets infrastructure and data solutions provider. The Group connects buyers and sellers in wholesale financial, energy and commodities markets. We are the world's largest wholesale market intermediary, with a portfolio of businesses that provide broking services, trade execution, data & analytics, and market intelligence. © 2025 Liquidnet Holdings, Inc. and its subsidiaries. Liquidnet, Inc. is a member of FINRA/SIPC/NFA. Liquidnet Europe Limited is authorised and regulated by the Financial Conduct Authority in the UK, is licensed by the Financial Sector Conduct Authority in South Africa and is a member of the London Stock Exchange and a remote member of the SIX Swiss Exchange. TP ICAP (EUROPE) SA is authorised by the Autorité de Contrôle Prudentiel et de Résolution and regulated by the Autorité des Marchés Financiers and is a remote member of the Warsaw Stock Exchange. Liquidnet Canada Inc. is a member of the Canadian Investment Industry Regulatory Organization and a member of the Canadian Investor Protection Fund. Liquidnet Asia Limited is regulated by the Hong Kong Securities and Futures Commission for Type 1 and Type 7 regulated activities and is regulated by the Monetary Authority of Singapore as a Recognized Market Operator. Liquidnet Japan Inc. is regulated by the Financial Services Agency of Japan and is a member of JSDA/JIPF. Liquidnet Australia Pty Ltd. is registered with the Australian Securities and Investment Commission as an Australian Financial Services Licensee, AFSL number 312525. Liquidnet Singapore Private Limited is regulated by the Monetary Authority of Singapore as a Capital Markets Services Licensee, CMSL number CMS 100757-1. Liquidnet Holdings, Inc. and its subsidiaries are part of TP ICAP Group plc. View source version on Contacts Sophonie Robichon, Liquidnet Global Marketing + Communications+44 20 3933 0153srobichon@
Zawya
02-07-2025
- Business
- Zawya
Emerging market debt sale surge defies global turmoil amid signs of de-dollarisation
Emerging market debt sales boomed in the first half of the year, defying tariff tantrums, missile attacks and gyrating oil prices, on track for another year of records - and with nascent signs of a shift away from the dollar, bankers told Reuters. Cash-rich investors keen for margins - and to diversify their portfolios - hardly paused their buying spree even during U.S. President Donald Trump's "Liberation Day" sweep of tariff announcements or Israel's attacks on Iran. Record supplies of new bonds could continue, with low oil prices driving exporting countries to keep borrowing to fund spending. "What is astonishing this year is how markets ... were still active, if not very active, in the toughest moments of the globe," said Alexis Taffin de Tilques, global head of emerging markets sovereigns and head of Central and Eastern Europe, Middle East and Africa debt capital markets with BNP Paribas. "The volumes of issuance have been incredible." Stefan Weiler, head of debt capital markets for CEEMEA at JPMorgan, said debt sales in the group of regions surpassed $190 billion in the first half of the year, on course to beat last year's all-time record of $285 billion. The surge is another sign of investor interest in emerging market assets in a year that has been marked by the sort of turmoil that typically sends investors fleeing for safe-havens. "Investors are very cash rich ... eagerly looking to deploy their cash in the primary market," said Weiler, predicting that if oil prices fell, issuance from the Middle East and North Africa could rise further. The Gulf, led by behemoth Saudi Arabia, issued just over 40% of CEEMEA debt, bankers said, as companies and countries took advantage of a dip in interest rates and the expectation that U.S. Treasury yields would remain elevated for some time. "It has been definitely a record first half of issuances this year" for the Middle East, said Khaled Darwish, head of CEEMEA Debt Capital Markets at HSBC, calculating that Middle East issuers had raised bond and sukuk deals worth $106 billion so far this year, compared with $139 billion for the whole of 2024. "The impact of all the geopolitical developments that happened this year has been quite minimal on the GCC market," he added. Geopolitical upheaval has even helped demand for certain issues. Investors who may once have been cautious about defence companies have become keener in response to higher military spending in NATO countries following Russia's invasion of Ukraine. Czech defence and industrial company CSG more than doubled its dual-tranche 2031 bond issue to 1 billion euros and $1 billion in response to strong investor demand. DIVERSIFICATION Fixed-income investment is better shielded from geopolitical turmoil than equity markets, Taffin de Tilques said. Weiler said crossover investors are keen for the bigger margins emerging market debt offers. Citi's debt finance team said global emerging-market issuance volumes were up 20% year-on-year for the first half of 2025, with corporate issuance growing particularly quickly. While much of it is refinancing, new issuers have joined the fray such as Saudi mining giant Maaden, with a sukuk worth $1.25 billion, and Angola's Azul Energy, which debuted with a $1.2 billion bond. Victor Mourad, Citi's co-head of CEEMEA debt financing, said the growing list of debut issuers offered investors diversification. Darwish and Weiler said there are also more governments and corporates turning to other currencies - chiefly the euro - to diversify away from the dollar. Saudi Arabia issued in euros this year, as did Sharjah in the United Arab Emirates. Weiler said other currencies were being explored too, from Japanese yen to "Panda bonds" issued on China's domestic market in yuan. Uruguay sold its first sovereign bond in Swiss francs. "There's definitely a theme among global issuers currently exploring more non-USD financing alternatives as borrowers are seeking to achieve less reliance on USD-denominated funding," Weiler said, adding it was an early sign of de-dollarisation. "I think it's the start of a clear trend." Mourad said the other notable trend was a move away from 30-year issues; he said there were only two 30-year transactions from the CEEMEA region in the first half of the year. Yield curves have become steeper globally, making longer-term issues more costly to governments and corporates than before. "The long end supply has been replaced by a surge in volumes for three-year transactions as issuers took a view on short-term rates," Mourad said.
Arabian Post
11-06-2025
- Business
- Arabian Post
Mashreq's $500 Million Sukuk Garners Global Attention
Mashreq Bank has secured a US$500 million Sukuk issuance through its special-purpose vehicle, Mashreq Al Islami Sukuk Company Ltd, with a secondary listing on Nasdaq Dubai. The trust certificates, set to mature in 2030, were unveiled under the bank's US$2.5 billion Trust Certificate Issuance Programme. The issuance drew overwhelming appetite in the primary market, with subscriptions reaching nearly US$2.9 billion—almost six times the issued amount—before being admitted for trading on Nasdaq Dubai. Market officials and state dignitaries marked the admission ceremony. Senior Mashreq officials including Group CEO Ahmed Abdelaal, Group Head of Corporate & Investment Banking Joel Van Dusen, and Group Head of Treasury & Global Markets Salman Hadi were present. The ceremonial bell was rung by Abdelaal, alongside Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market, signifying a deepening partnership between the lender and the exchange. The demand for the paper was robust: pricing tightened to UST + 105 basis points, offering a fixed annual return of 5.03%. Participation included more than 90 investors across the Middle East, Europe and Asia, reflecting broad confidence in Mashreq's creditworthiness and reinforcing Dubai's rising role as a global hub for Islamic finance. ADVERTISEMENT Islamic finance is a growing pillar of Dubai's capital markets. Nasdaq Dubai is now home to over US$140 billion in listed debt, of which around US$97.2 billion comprises Sukuk across 163 issuances, bolstering the emirate's reputation in sharia-compliant instruments. This Sukuk marks Mashreq's return to international debt markets and sets a positive tone following heightened volatility triggered by US tariffs on the CEEMEA region in April 2025. According to Nasdaq Dubai CEO Hamed Ali, the success signifies 'Mashreq's growing ambitions in the Islamic finance sector' and affirms the exchange's role in connecting regional issuers with global investors. Mashreq Chairman Abdul Aziz Al Ghurair emphasised the issuance's significance: 'This Sukuk listing marks an important step in Mashreq's commitment to strengthening the global Islamic finance landscape … a clear demonstration of cross-border capital flows.' Ahmed Abdelaal added that the listing 'affirms our disciplined approach to funding, even in a complex macro environment'—a nod to the bank's focus on transparency and sustainable value. From a broader standpoint, the transaction shows Dubai's resilience amid global financial uncertainty. With the UST + 105 basis points spread reflecting investor trust, analysts note that the oversubscription by nearly six‑fold underscores continued market appetite for quality issuances. It strengthens investor confidence not just in Mashreq but across issuers in the CEEMEA region. Notably, this offering marks Nasdaq Dubai's first CEEMEA issuance since April's tariff shock—a turning point that restored market momentum. Regional issuers have since pursued multiple debt placements, signalling a revival of cross-border capital flows. The listing harmonises with Dubai's strategic goal to deepen Islamic capital markets and elevate its position as a capital-raising gateway for global investors. As Sukuk issuance gains traction amid tighter regulatory oversight and rising demand for ethical financing, Mashreq's listing not only advances its own capital diversification goals but also contributes to the maturation of Islamic fixed-income markets. With plans to issue further Islamic debt under its US$2.5 billion programme, the bank appears poised to leverage both primary and secondary market channels. Moving forward, stakeholders will watch for future issuances by Mashreq and other CEEMEA-based issuers to assess whether this marks a sustainable trend in Islamic finance, or a one-off surge. However, the combination of strong demand, disciplined pricing and enhanced market access marks a positive step for the sector.
Zawya
03-06-2025
- Business
- Zawya
Egypt shows early signs of economic stabilisation amid global headwinds: HSBC
Simon Williams, HSBC's chief economist for Central and Eastern Europe, Middle East and Africa (CEEMEA), and Helen Belopolsky, the bank's global head of geopolitical risk, presented their outlook on Egypt's economy to clients and stakeholders during a series of exclusive briefings held last week at HSBC Egypt's Head Office. "Inflation is stabilizing, the currency is holding, the budget deficit is easing, and interest rates are starting to fall. But while this means Egypt's rebalancing is now well underway, ongoing policy discipline will be key to complete the process, particularly with Suez revenues, the energy sector under pressure, and geopolitical risks still unresolved," Williams said. 'As global geopolitical dynamics continue to evolve, it is increasingly important for the businesses to adapt to persistent volatility, with Egypt's reform program well underway, the country is strongly positioned to capitalize on the opportunities emerging from today's shifting geopolitical landscape,' Belopolsky added. Todd Wilcox, HSBC Egypt deputy chairman and chief executive officer, commented, 'The fundamental opportunities in Egypt have shifted. Liquidity in the market is improving, and trade flows are starting to shift. New investors see Egypt as a manufacturing hub; this will help boost exports and reduce future foreign currency (FX) risk. For 44 years, HSBC has been a trusted partner to businesses in Egypt, and our commitment to their growth and success remains steadfast.' Addressing nearly 100 business leaders and clients in Cairo, Williams and Belopolsky emphasized that despite ongoing geopolitical headwinds, Egypt is showing early signs of economic stabilization. They noted that the country is currently halfway through an economic adjustment phase, supported by political stability and rising regional opportunities, which together are laying the foundation for renewed momentum. The briefings also served as a forum for participants to exchange perspectives on navigating the shifting global and regional landscape. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
