The KSE-100 bounced back in April 2020, rising 17% mom, after a sharp 23% decline in March. The rally was led by (i) government decision to ease off lockdown conditions for certain industries, (ii) an emergency 200bps cut in the policy rate, bringing...

We expect 2020 to be a more positive year for the Saudi economy,with stronger growth driven by the non-oil sector as a result of progress on the Vision Realisation Programs (VRPs) and the domestic investment of the proceeds of the Saudi Aramco IPO. O...

Following up on our7 January report, Colombia's Termocandelaria Power Limited (TERMOC) istodayexpected to issue a US$185mn tap of its outstanding US$410mn 7.875% senior unsecured bonds due 2029 (BB/BB+). The bonds have an amortisation schedule of 7.5...

In line with the fast and furious primary activity this week, Colombia's largest non-hydro electricity generator, Termocandelaria Power Limited (TERMOC), is on the road marketing a tap of its outstanding US$410mn 7.875% senior unsecured bonds due 202...

Bottom-up, we assess the trends in each sector, while in our stock-by-stock analysis of our entire coverage we provide detailed forecasts, investment rationale and operating risks for the coming year. The impact on market sentiment, therefore, will n...

A recent report suggests that there is a dispute between Stoneway and Siemens, even after Stoneway issued anotice to investors dismissing the alleged event of default related to missed payments to Siemens. The alleged event of default related to miss...