Financial Services MENA Edition
Latest News
Algerian banks to defer loan payments for firms affected by coronavirus
Banks will continue to finance customers benefiting from loan payment deferrals
WeWork sues SoftBank after $3-bln tender offer falls through
Investors had been concerned about the company's losses
Qatar sells $10bln of bonds in three tranches -document
Qatar tightened the price guidance for the bonds
Fitch affirms Kuwait at 'AA'; outlook stable
Kuwait's key credit strengths are its exceptionally strong fiscal and external balance sheets.
Coronavirus: German govt to issue $46.7bln more debt in Q2
Federal Government's financing and liquidity needs for the current quarter and the rest of the year will rise
Gateway Partners invests $50mln in Tim Hortons Gulf franchise -sources
"We are going to take it to Egypt and India and expand in the Gulf," Ved told Reuters by telephone.
OPEC+ set to agree 4.3mln bpd in output cuts -JP Morgan
Under the cut, Saudi would reduce output by 2.2mln bpd, the United Arab Emirates by around 1mln bpd
Banks' appetite for BoE sterling funds drops to 4-week low
That was down from GBP3.25bln last week and the lowest amount since March 10.
Pandemic prompts UK watchdog to devise a rip-off detector
The epidemic has already prompted the Financial Conduct Authority (FCA) to propose several measures
Beijing-backed AIIB approves emergency loan to China to help with coronavirus response
Asian Infrastructure Investment Bank approved its first emergency assistance loan of $352mln to China
Insights
After the dollar drought, a flood: Mike Dolan
A new weak dollar cycle could be on the cards over the coming 2-3 years
Payment companies will emerge as lockdown winners
Banknotes were already on the way out in countries like Sweden and Britain
Virgin has bailout headwinds besides Branson
Airline is 51% owned by Richard Branson’s Virgin Group and 49% by U.S. carrier Delta