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Latest articles in Saudi Arabia
Strategy Note / Saudi Arabia

Saudi: King (84) in hospital, de facto power already with Crown Prince (34)

Economic, security, and foreign policy decision-making power has been centered in the office of the Crown Prince since the accession of Muhammad bin Salman (in June 2017). Thus, in the event of succession, there is likely to be broad continuity in po...
Tellimer Research Hasnain Malik
Hasnain Malik @ Tellimer Research 21 July 2020
Strategy Note / Global

GCC Wealth & Diversification: Qatar's privilege (in one chart)

Low oil prices (and output) and Covid-19 disruption drive IMF to cut 2020/21 GDP forecasts by 3ppt/ 1ppt to -7.4%/+2.6%. Slow liberalisation, duplication, regional fragmentation, high citizen wages, FX pegs hinder the GCC's structural growth. Deep so...
Tellimer Research Hasnain Malik
Hasnain Malik @ Tellimer Research 14 July 2020
Strategy Note / Global

Corruption: The ugly truth for EM and ESG investors

DOES CORRUPTION BOTHER YOU? Bangladesh: The use of anti-corruption as a means to persecute and weaken those politicians sitting in the opposition precedes the post-2009 era of the de facto one-party state under the Awami League (ie the Bangladesh Nat...
Tellimer Research Hasnain Malik
Hasnain Malik @ Tellimer Research 7 July 2020
Strategy Note / Global

GCC-Levant equity strategy: Old models under stress

The GCC-Levant region is split between those markets valued close to their historic average (Abu Dhabi, Bahrain, Kuwait, Qatar, and Saudi) and those at large discounts (Dubai, Jordan, Oman). Markets in the former group have been dominated in recent y...
Tellimer Research Hasnain Malik
Hasnain Malik @ Tellimer Research 5 July 2020
Strategy Note / Global

Chasing technology's tail: EM equity strategy overview

In 2006 I was an analyst on global technology equities. This would be unwelcomed for the investment case given the military’s continuing, overbearing indirect grip on the economy and the strain put on the fiscal deficit from Covid-19 disruption. Equi...
Tellimer Research Hasnain Malik
Hasnain Malik @ Tellimer Research 28 June 2020
Macro Analysis / Global

Banks face headwinds from shaky emerging market government finances

Recent budget announcements (Kenya and Mauritius in Africa, Bangladesh and Pakistan in Asia) highlight the strain caused by Covid-19 lockdowns on emerging market finances. Which banks could be most exposed to higher tax rates? Looking outside the GCC...
Tellimer Research Rahul Shah
Rahul Shah @ Tellimer Research 19 June 2020