FAST FINANCEChina's GDP reports are of critical importance for emerging markets throughout the MENASEA region, but particularly those in Southeast Asia that depend on Chinese growth to support their own economies. The 6.9% growth rate for the September quarter in China (beating estimates) could indicate some stabilization for emerging markets ...
October 18, 2015Blake Goud
FAST FINANCEUncertainty about Malaysia’s troubled quasi-sovereign fund 1Malaysia Development Berhad (1MDB) rose during the week as the Attorney General, who replaced a predecessor who was removed in July, declined to push forward with charges against anyone involved in the fund. The central bank, meanwhile, decided that unspecified investments abroad by ...
October 11, 2015Blake Goud
The 28 September issue of Finance Forward did not identify that Michael Bennett, Head of Derivatives and Structured Finance for the World Bank contributed the first article on the IFFIm sukuk. We regret the omission.FAST FINANCEThe continuing emissions scandal at Volkswagon continues and VW faces the expensive task ...
October 4, 2015Blake Goud
FAST FINANCELast week, volatility rose again when on Friday, US Federal Reserve chairwoman Janet Yellen reiterated that rates would likely rise before the end of 2015 despite its earlier delay on emerging market growth concerns. While developed markets are seeing some slowing growth as a result of Chinese economic worries ...
September 28, 2015Blake Goud
Fast FinanceThe US Federal Reserve will not raise interest rates, at least yet. Following the Fed’s announcement on Thursday, the dollar fell against many currencies (including MENASEA regional currencies that have been hammered as of late). To the extent that the Fed’s concern for Emerging Market turmoil allows it to ...
September 20, 2015Blake Goud
FAST FINANCEContinued dives in major emerging market currencies including the Ringgit, Lira and Real continues. Of these three, all had investment grade ratings before Brazil’s was cut by Standard & Poor’s from BBB- to BB+. The first move on Brazil’s sovereign ratings could be indicative of cuts to other ...
September 13, 2015Blake Goud
HRH Sanusi on departure from Nigeria’s central bank: I am at peace. When it was time for me to go, I left
FAST FINANCE We thank everyone who attended the Global Ethical Finance Forum (GEFF) in Edinburgh, Scotland last week. One of the audience polls taken during a session at GEFF found that 82% of delegates believed that it was always important for investors to incorporate their morals and values in the financial ...
September 7, 2015Blake Goud
FAST FINANCE The impact of commodity price, currencies and the Shanghai market’s volatility finally spills into developed countries’ equity markets but the effect was short-lived as NY Federal Reserve President William Dudley said a rate hike was ‘less compelling’ now than several weeks ago. Dudley’s remarks were followed later in ...
August 31, 2015Blake Goud
FAST FINANCE The surprise announcement that China would allow the renimbi to depreciate by 4.4%, thrust currencies into the spotlight. The term ‘currency war’ is back since it was popularized in 2010 by Brazil’s former finance minister Guido Mantega. Now, the competitive devaluations are spreading across the MENASEA region raising the ...
August 23, 2015Blake Goud
Fast Finance Last week marked the end of Renminbi’s twenty-one year old peg with the US dollar as Chinese Yuan fell by 4.4 percent. This move came at the back of weakened Chinese economy due to a drop in industrial production as well as a slackened demand for consumer products. Emerging ...
August 17, 2015Blake Goud