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Jan 19, 2015

Egypt to issue $1.5 billion Eurobond in April: Finance Ministry

LONDON (Reuters) – Egypt plans to issue a $1.5 billion Eurobond in April and hopes to return regularly to international capital markets in years to come as it tries to rebuild the country’s battered finances, a finance ministry official said on Monday.

The dollar-denominated issue is likely to be split, said Hanan Salem, first deputy minister for economic and financial policies at Egypt’s Ministry of Finance.

Jan 18, 2015

Tunisia seen as strong prospect if foreign investment can be unlocked

TUNIS/LONDON, Jan 18 (Reuters) – Four years after Tunisia
sparked off the Arab spring uprisings the country is seen as a
rare regional success story, but its prospects hinge on it
deepening reforms and attracting foreign investment.

The North African country of 10 million people suffered its
share of political and economic woes after the 2011 revolutions
that swept much of the Maghreb and the Middle East, toppling
several long-standing leaders including its own Zine el-Abidine
Ben Ali who fled Tunisia four years ago last week.

Jan 8, 2015

Investors turn more cautious on ‘Frontier’ debt

LONDON (Reuters) – Investors are turning more cautious about dollar bonds from “frontier” markets – a fast growing but less developed and higher risk sub-set of emerging economies – due to sliding oil prices, low trading volumes and expectations of smaller returns.

Within the diverse group of economies, which ranges from Belarus and Belize to Egypt and Pakistan, interest is likely to shift in 2015 towards energy importing nations that will benefit from cheaper crude, and away from oil exporters.

Jan 7, 2015

Sliding oil weighs on emerging currencies, Russia

LONDON, Jan 7 (Reuters) – Many emerging market currencies
weakened on Wednesday, weighed down by oil prices hitting fresh
lows, with Russian assets feeling most of the pain.

South Africa’s rand, Turkey’s lira, and the
Russian rouble all traded lower against the dollar, after
oil prices fell below $50 barrel for the first time since 2009.

Jan 5, 2015

Weaker oil, stronger dollar weigh on emerging markets

LONDON, Jan 5 (Reuters) – Emerging market shares headed for
two-week lows on Monday and currencies started their first full
trading week of the year on a sour note, facing the familiar
headwinds of a stronger dollar and falling oil prices.

Emerging market stocks lost 0.7 percent, with
Saudi and Nigerian oil companies’ shares suffering again as
crude sank to just above $55 a barrel.

Dec 18, 2014

Upbeat Fed, higher oil lift emerging currencies, stocks

LONDON, Dec 18 (Reuters) – Emerging shares rose for a second
straight day on Thursday while most currencies strengthened,
lifted by the Federal Reserve’s show of confidence in the U.S.
economy, though Russia’s rouble eased after two days of gains.

Emerging market stocks rose 1.24 percent, the
biggest daily gains in a month, after the Fed signalled it was
on track to raise interest rates some time next year but would
take a “patient” approach. That lifted U.S. stock markets, and
oil rose above $62 per barrel.

Dec 17, 2014

Rouble collapse? Foreign “speculators” say it wasn’t us

LONDON, Dec 17 (Reuters) – A 20 percent currency drop in two
days sounds like the opportunity of a lifetime for a savvy hedge
fund superstar to earn a fortune. But foreign fund managers say
they have mainly stayed away from bets against the rouble,
because the Russian market is just too unpredictable and costly.

Dragged down by falling oil and Western sanctions over
Moscow’s involvement in the Ukraine crisis, the rouble has
declined steadily against the dollar since June, culminating in
a freefall this week.

Dec 16, 2014

Market turmoil feeds fears of Russia rating cuts

LONDON, Dec 16 (Reuters) – A rout in Russian financial
markets has raised concerns that the country may struggle to
hold on to its investment grade credit rating.

All three of the main agencies – Standard and Poor’s,
Moody’s and Fitch – have Russia on a negative outlook, with
S&P’s rating at the cusp of a drop into junk that would raise
the prospect of an investor flight from Russian bonds.

Dec 15, 2014

Russian corporate bonds sold off as rouble plunges

LONDON, Dec 15 (Reuters) – Dollar bonds of Russian companies
suffered a fresh selloff on Monday, as the rouble’s fall past
the 60-per-dollar level and the threat of more sanctions fanned
fears about future debt repayments.

Russian financial markets are reeling, with
dollar-denominated stocks chalking up a 10 percent loss
on Monday – their steepest one day fall since March – while
yields on local and hard currency sovereign debt are at levels
unseen since the 2008-2009 global crisis.

Dec 15, 2014

Russian rate rise fails to break the rouble-oil link

LONDON, Dec 15 (Reuters) – Russia’s rouble has tumbled to
successive record lows against the dollar, shrugging off central
bank interventions and interest rate rises, and paying heed to
only one factor – the oil price.

Brent crude futures have chalked up losses of 45
percent since the start of this year, touching five-year lows
near $60 per barrel on Monday amid oversupply and weak demand.