LONDON, March 31 (Reuters) – Hard-currency corporate and
sovereign debt as well as equities were the best performers
across emerging markets in the first quarter of 2015, while
local debt and currencies continued to suffer.
Offering exposure to both a strengthening dollar and robust
emerging market economic growth, hard-currency corporate and
sovereign debt chalked up gains of some 2 percent over the first
three months of the year.
LONDON, March 30 (Reuters) – Emerging market shares started
the week by rising almost 1 percent on Monday, buoyed by Chinese
stocks at 7-year highs, though currencies suffered at the hands
of a recovering dollar and lower oil prices.
MSCI’s emerging equity index rose 0.8 percent,
lifted by China stocks jumping almost 3 percent on
hopes that more infrastructure spending and policy stimulus will
re-energise a cooling economy and boost profits.
LONDON (Reuters) – Ukraine’s debt burden cannot be restructured by just extending the maturity of its bonds, and creditors are unlikely to benefit if they “hold out” to maximise payments, Finance Minister Natalia Yaresko said on Tuesday.
After a year of war and political upheaval that has seen its currency plummet and sent its economy into a tailspin, Ukraine agreed a $17.5 billion (12 billion pound), four-year bailout facility with the International Monetary Fund this month. The deal obliges Kiev to restructure at least $15.3 billion of outstanding debt.
DUBAI/LONDON, March 23 (Reuters) – Locked in a war against
Islamic State militants, its finances ravaged by the plunge of
oil prices, Iraq can nevertheless count on the promise of its
oil reserves to attract buyers to its first international bond
sale in nine years.
Finance Minister Hoshiyar Zebari told Reuters last week that
the central government was discussing with Citibank and Deutsche
Bank a possible issue of $5 billion of five-year, U.S.
dollar-denominated bonds to help cover its budget gap.
LONDON, March 18 (Reuters) – Emerging currencies traded
mixed on Wednesday while stocks rose to an 8-day high, lifted by
lower oil prices and a tepid dollar ahead of a hotly
anticipated Federal Reserve meeting ending later in the day.
In China, the yuan posted its strongest daily gain in a year
to hit a 2-month high against the dollar, which traders
said was likely to reflect central bank intervention. Russia’s
rouble rose 0.5 percent as exporters sold hard currencies
to settle tax bills, shrugging off oil falling towards $53 a
LONDON (Reuters) – Foreign private security personnel from South Africa, Russia and South Korea are on the ground in northeast Nigeria to train Nigerian troops and are not engaged in frontline combat against Boko Haram, the government said on Tuesday.
According to security and diplomatic sources, Nigeria has brought in hundreds of mercenaries to give its offensive against the Islamist militant group a shot in the arm ahead of the March 28 presidential elections.
LONDON (Reuters) – Fund managers who bet on beaten-down Russian stocks and bonds have been rewarded with some of the best returns in emerging markets so far in 2015.
Foreign investors fled Russia last year, panicked by an oil price collapse, a simmering conflict on the Russia-Ukraine border and Western sanctions that effectively froze the country out of credit markets. The subsequent 50 percent plunge in the rouble’s exchange rate between May and December provided another catalyst for the exodus.
LONDON (Reuters) – South Africa’s rand, Turkey’s lira and Brazil’s real suffered some of the steepest losses in the recent emerging-market rout. Their peers in the so-called fragile five, India and Indonesia, escaped with less damage.
The five countries got their name in 2013, as hints emerged that the U.S. Federal Reserve would end its easy-money policy. Bound together by sizeable current account deficits and reliance on foreign capital, they looked vulnerable to shocks such as a strong dollar and rising U.S. interest rates.
LONDON, March 11 (Reuters) – South Africa’s rand, Turkey’s
lira and Brazil’s real suffered some of the steepest losses in
the recent emerging-market rout. Their peers in the so-called
fragile five, India and Indonesia, escaped with less damage.
The five countries got their name in 2013, as hints emerged
that the U.S. Federal Reserve would end its easy-money policy.
Bound together by sizeable current account deficits and reliance
on foreign capital, they looked vulnerable to shocks such as a
strong dollar and rising U.S. interest rates.
LONDON (Reuters) – Nigeria will enforce the repatriation of dollar-proceeds from exports and is planning sanctions against those not complying, Central Bank Governor Godwin Emefiele told Reuters on Tuesday.
Africa’s largest economy has been hit hard over the past year by a steep drop in oil prices and political uncertainty over a closely fought and delayed election.