Latest news with #CEEMEA
Zawya
7 days ago
- Business
- Zawya
Egypt shows early signs of economic stabilisation amid global headwinds: HSBC
Simon Williams, HSBC's chief economist for Central and Eastern Europe, Middle East and Africa (CEEMEA), and Helen Belopolsky, the bank's global head of geopolitical risk, presented their outlook on Egypt's economy to clients and stakeholders during a series of exclusive briefings held last week at HSBC Egypt's Head Office. "Inflation is stabilizing, the currency is holding, the budget deficit is easing, and interest rates are starting to fall. But while this means Egypt's rebalancing is now well underway, ongoing policy discipline will be key to complete the process, particularly with Suez revenues, the energy sector under pressure, and geopolitical risks still unresolved," Williams said. 'As global geopolitical dynamics continue to evolve, it is increasingly important for the businesses to adapt to persistent volatility, with Egypt's reform program well underway, the country is strongly positioned to capitalize on the opportunities emerging from today's shifting geopolitical landscape,' Belopolsky added. Todd Wilcox, HSBC Egypt deputy chairman and chief executive officer, commented, 'The fundamental opportunities in Egypt have shifted. Liquidity in the market is improving, and trade flows are starting to shift. New investors see Egypt as a manufacturing hub; this will help boost exports and reduce future foreign currency (FX) risk. For 44 years, HSBC has been a trusted partner to businesses in Egypt, and our commitment to their growth and success remains steadfast.' Addressing nearly 100 business leaders and clients in Cairo, Williams and Belopolsky emphasized that despite ongoing geopolitical headwinds, Egypt is showing early signs of economic stabilization. They noted that the country is currently halfway through an economic adjustment phase, supported by political stability and rising regional opportunities, which together are laying the foundation for renewed momentum. The briefings also served as a forum for participants to exchange perspectives on navigating the shifting global and regional landscape. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
03-06-2025
- Business
- Zawya
Egypt's economic reset: Signs of stabilization, path to sustainable growth
Simon Williams, HSBC's Chief Economist for Central & Eastern Europe, the Middle East and Africa (CEEMEA), and Helen Belopolsky, HSBC's Global Head of Geopolitical Risk, recently shared their outlook on Egypt's economic trajectory at an exclusive client event held at HSBC Egypt's Head Office in Cairo. Addressing an audience of nearly 100 business leaders and stakeholders, they discussed Egypt's evolving economic landscape amid regional and global uncertainties. Despite persistent geopolitical challenges, the experts pointed to clear signs of stabilization and emerging opportunities that could accelerate Egypt's economic rebound. 'Inflation is stabilizing, the currency is holding, the budget deficit is easing, and interest rates are beginning to fall,' said Simon Williams. 'These are strong indicators that Egypt's economic rebalancing is well underway. However, continued policy discipline will be critical to sustaining this progress—particularly as revenues from the Suez Canal and the energy sector come under pressure and geopolitical risks remain unresolved.' Helen Belopolsky emphasized the broader context of global volatility, stating: 'As international dynamics continue to shift, adaptability becomes essential. Egypt's ongoing reform programme places it in a strong position to benefit from new regional and global opportunities.' Todd Wilcox, Deputy Chairperson and CEO of HSBC Egypt, said: 'Egypt's fundamentals are evolving. Liquidity is improving, trade patterns are changing, and the country is gaining appeal as a regional manufacturing hub. This could drive export growth and reduce long-term foreign currency risk. For over four decades, HSBC has supported businesses in Egypt, and our commitment remains as strong as ever.' The event fostered valuable dialogue on navigating today's complex economic environment, reinforcing HSBC's role as a trusted advisor and partner in Egypt's growth journey. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. ( Daily News Egypt
Trade Arabia
28-05-2025
- Business
- Trade Arabia
Franklin Templeton names co-heads for its new entity
Franklin Templeton, an US-based investment management holding, has announced two major executive appointments - Tariq Ahmad has been named the new chief of APAC, while Sandeep Singh will take over as the new head of CEEMEA & India. This strategic initiative underscores the firm's long-term commitment to serving central banks and sovereign wealth funds globally – a segment that currently represents a $30 trillion opportunity for Franklin Templeton. As co-Heads of the newly created Global Official Institutions Group, Tariq and Sandeep, in their expanded roles, will focus on building and strengthening relationships with Official Institutions around the world. In addition to their current responsibilities, their remit will include developing tailored investment solutions aligned with the specific mandates and objectives of each institution in this segment, as well as delivering bespoke thought leadership, knowledge transfer and customised training programmes, said the US investment group in its statement. Franklin Templeton has been serving official institutions for more than 30 years. The establishment of the Group reflects the firm's belief in the growing significance of official institutions as long-term investors set to diversify their reserve currencies and asset classes, it stated.
Zawya
08-05-2025
- Business
- Zawya
Citi debt duo in Dubai leave US bank: IFR
The head of debt capital markets for Central and Eastern Europe, Middle East and Africa at Citigroup has left the bank, according to sources, as has a senior loans banker whose business also included the region. Iman Abdel Khalek, head of debt capital markets for CEEMEA, based in Dubai, and Zain Zaidi, head of UK, Europe and MEA loans products and execution, also based in Dubai, have left the bank. Abdel Khalek is joining SMBC, according to the sources, taking on a coverage role. Her career at Citi spanned more than 20 years. Zaidi, too, is a Citi veteran, having joined the firm in 2007, according to his LinkedIn page. Citigroup declined to comment, as did Abdel Khalek. SMBC said it was unable to immediately comment. Zaidi could not be immediately reached for comment.
Zawya
21-04-2025
- Business
- Zawya
Mashreq prices $500mln debut sukuk, attracts largest ever orderbook
Dubai: Mashreq has priced its debut $500 million Sukuk under the $2.50 billion Trust Certificate Issuance Program, with a profit rate of 5.03% annually on 15 April. The five-year offering will be rated A by S&P and will be listed on Euronext Dublin, according to a press release. It marks the first deal from the CEEMEA region since the announcement of U.S. tariffs on international trade partners, which triggered heightened volatility across global markets. The Middle East received the majority of the transaction's allocation at 75%, while Europe, including the UK, accounted for 16% of the demand. The balance was divided between Asian markets and offshore US interest. Islamic and conventional Bank treasury divisions took the lion's share of the issuance securing 64% of the allocations. A group of hedge funds, asset managers, insurance and pension funds took the remainder. The orderbook peaked at $2.90 billion, the largest ever for a Mashreq issuance. It represented an oversubscription of nearly six times and drawing interest from over 90 investors. Mashreq's Group CEO, Ahmed Abdelaal, said: "Being the first public issuance in the CEEMEA region since the onset of the trade war and the subsequent market dislocation, this Sukuk issuance underscores the depth of investor confidence in Mashreq's credit profile, strategy, and long-term fundamentals.' 'This successful outcome not only supports Mashreq's growth ambitions into 2025 and beyond but also helps re-open the debt capital markets for regional issuers seeking to re-enter with confidence,' Abdelaal mentioned. Salman Hadi, Mashreq's Group Head of Treasury and Global Markets, who led the issuance, stated: " This strategic timing allowed us to benefit from a clear issuance window, resulting in significant investor demand and the largest orderbook ever for a Mashreq issuance." The joint lead arrangers and bookrunners on the transaction were Abu Dhabi Commercial Bank (ADCB), Abu Dhabi Islamic Bank (ADIB), Al Rajhi Capital, Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, KFH Capital, Mashreq, Sharjah Islamic Bank, Standard Chartered Bank, and The Islamic Corporation for the Development of the Private Sector.
