The FT reports that a group of creditors, which includes Pharo and Amia Capital, is concerned the government is not being clear about the true scale of the Chinese debt it has accumulated in recent years. After Zambia’s Ministry of Finance held an investor presentation on Tuesday, we had said that bondholders could very well choose to reject the consent solicitation, which would be a sign of a difficult road ahead. Click here to read our key takeaways. Get the full story →

The Monetary Authority of Singapore said in a statement that it directed Wirecard entities to cease payment services and return all customers’ funds by 14 October. This may prove disruptive as Wirecard services are widely used in Singapore, with cafés, bars and restaurants operating on the company’s payment terminals. With many fintechs dependent on Wirecard for payments infrastructure, we look at how the Wirecard saga raises the bar for fintech due diligence. Get the full story →

It is hard to identify a winner in what was a very chaotic first presidential debate, as the two candidates often interrupted each other and direct accusations largely outweighed policy discussions. The market reaction appears mostly adverse, though. US futures are pointing to a negative open. Get the full story →

The figures released by Saudi's General Authority for Statistics show how deeply Covid-19 hit both the oil and non-oil sectors. Consumer demand was also dampened after Saudi tripled VAT to 15% in July, in a bid to raise non-oil revenues. Oil prices have fallen in September and we think the backdrop is a risk for GCC equities. Get the full story →

For countries looking to avoid China's Huawei the choice is relatively limited, with Nokia and Eriksson among the only alternative providers of the equipment. The US government has been encouraging big American companies to get more involved with 5G and Microsoft has entered the race with its Azure cloud. In the short term it may look like Huawei is the big loser here, but we argue that in five years’ time the ban may be seen as the moment that prompted China to end its reliance on US silicon tech. Get the full story →