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Our global markets team analysis on the big stories of the moment across the region.


FAB Insights: US Ballot 2020 – ‘A Viral Election’

28 May 2020

Our analysis of the current domestic political landscape in the US and how the ongoing health/economic global crisis could affect the outcome of the Presidential Elections in November

Glenn Wepener, Senior Strategist, Middle East & Africa

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FAB Macro Strategy: Alphabet Soup

06 May 2020

With the global economy having been floored by COVID-19 over the past few months there is now much debate and argument as to whether the trajectory of the aspirational global economic recovery over the coming months might be ‘V-‘ or ‘U-‘shaped in nature, or indeed some other letter. In our latest macroeconomic strategy piece we analyze the prospects for such recovery post Covid-19

Simon Ballard, Chief Economist

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FAB Insights: Geopolitics - "Known Unknowns"

05 May 2020

Our geopolitical piece in which we discuss the difference between ‘Black and Grey Swan’ events, and suggest a few potential global flashpoints that should be watched over the coming year.

Glenn Wepener, Senior Strategist, Middle East & Africa

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FAB Insights: Oil Market Flash Note

21 April 2020

TOur brief analysis of the latest key developments in the crude oil market.

Glenn Wepener, Senior Strategist, Middle East & Africa

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FAB Insights: Flash Note Oil

13 April 2020

Our brief thoughts on the oil output cut agreement which was formalized recently.

Glenn Wepener, Senior Strategist, Middle East & Africa

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FAB Insights: Oil Market Flash Note

03 April 2020

Our brief analysis of the latest key developments in the crude oil market.

Glenn Wepener, Senior Strategist, Middle East & Africa

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FAB House View - Global Rates (Update March 2020)

23 March 2020

Let’s face it, global rates and equities today are nowhere near where we generally thought they would be by the end of Q1 back at the start of the year. At the turn of 2020 the growing hope and assumption was that a gradual improvement in global growth conditions would fuel a modest uptick in yields during the year, albeit with monetary policy perhaps on hold through the year. BUT… COVID-19 has rapidly turned all such forecasts upside-down.

Simon Ballard, Chief Economist

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FAB Market Insights : House View on Oil

23 March 2020

The sudden oil price ‘war’ between Saudi Arabia and Russia looks set to continue for months to come and this situation, combined with the global health crisis, will keep crude prices low for the rest of this year and probably into 2021 too. However, there is hope that a medical solution will be found sooner than later, and in our opinion this should kickstart demand again relatively quickly.

Glenn Wepener, Senior Strategist, Middle East & Africa

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Negative bond yields - From Feast to Famine

12 February 2020

The global macro environment of the past 5 years, in the post sovereign debt crisis era, has seen a seismic shift in financial market dynamics, especially in the Eurozone as a result of central bank intervention. In this paper we explore the current and deepening metrics surrounding negative bond yields, and whether this is now a ticking time-bomb.

Simon Ballard, Executive Director & Chief Economist

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Thoughts on Coronavirus

03 February 2020

In this report we provide our thoughts on the potential implications of the Coronavirus on the global economy and markets. Please read on.

Simon Ballard, Executive Director & Chief Economist

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Top 10 Risks In 2020(Geopolitics)

06 January 2020

Despite a significant rise in the number of geopolitical, geo-economic and environmental events across the globe in recent years, the financial markets as a whole have continued to react with a somewhat complacent tone to such developments thus far, but history teaches us that things can change quickly. The year ahead still contains many of these existing risks (i.e. climate change) as well as a few new ones. So in this our first ‘Hot Topics’ publication for 2020 we list (in no particular order), ten important issues that we feel should be watched this year and beyond.

Glenn Wepener, Senior Strategist – Middle East & Africa


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The House View on Oil (2020 Outlook)

19 December 2019

Our latest ‘house view’ on the current state of the global oil market and the outlook for 2020.

Glenn Wepener, Senior Strategist – Middle East & Africa


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Reform in KSA ‘No longer a mirage’

16 December 2019

Saudi Arabia is currently undergoing momentous change, and whilst a number of the ‘Vision 2030’ reforms have already made the headlines, we wanted to highlight what else is actually taking place on the ground both socially and economically, which many external viewers may not be aware of.

Glenn Wepener, Executive Director & Senior Geopolitical Analyst
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Dissecting a Huge Night in U.K. Politics

13 December 2019

Our macro strategy reaction and outlook to the U.K. General Election results. We hope you will find it informative and useful.

Simon Ballard, Executive Director & Chief Economist
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The House View on Oil

23 September 2019

The recent events in Saudi Arabia appear to have finally reminded market participants that a risk premium is required especially during these times of growing geopolitical fault lines across the globe, whilst the eventual outcome of the US/China trade talks also remains a key focus.

Glenn Wepener, Executive Director


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Dissecting the Fed

19 September 2019

In the wake of the latest U.S. fed funds rate cut by the Federal Reserve, please find attached herewith our dissection of the Fed’s decision and accompanying language.

Simon Ballard, Exec. Director & Macro Strategist
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Confident but not complacent - At times like this we show our strength

 17 September 2019

In the aftermath of the shocking attack on the oil processing plant in Saudi Arabia, FAB’s Market Insights team is of the opinion that negativity about the GCC bonds and sukuk market is overdone. In this brief commentary we provide our views on this asset class in the context of recent events.

Chavan Bhogaita, Managing Director & Head of Market Insights & Strategy

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Macro Strategy - Brexit Bulletin

20 August 2019

We have long held the view that given the split, divisive nature of the Brexit polemic that a hard, no-deal result would likely be the only feasible outcome. We see no way for a compromise to be achieved in time and of late, with the installation of the new Boris Johnson pro-Brexit administration, the market seems to be increasingly in agreement with us.

Simon Ballard, Exec. Director & Macro Strategist
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FAB Trader's View on Recent Market Volatility

08 August 2019

In the context of recent market volatility, the traders within FAB’s Global Markets team have provided their views and insights on interest rates, yield curves, currencies and oil.

FAB Global Markets
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Thoughts on GBP post Monday’s plunge

30 July 2019

With Boris Johnson having won the keys to No.10 Downing Street and the phrase ‘hard, no-deal Brexit’ being used by him and many of his government ministers, the market is now waking up to reality. We maintain our long-held view that a ‘hard Brexit’ will be the most likely outcome to the polemic, a scenario that GBP has not priced in.

Simon Ballard, Exec. Director & Macro Strategist
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The House View on Rates

30 April 2019

Our newly inaugurated publication, First Abu Dhabi Bank’s ‘house view’ on U.S., Eurozone and U.K. interest rates. For each central bank (Fed, ECB and BOE) we discuss current macroeconomic conditions, challenges and opportunities facing policy makers and set out our 12-month outlook expectations for rates.

Simon Ballard, Exec. Director & Macro Strategist

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Aramco article image

Aramco - This is Big

10 April 2019

Saudi Aramco has executed its inaugural bond issue with a blockbuster transaction that generated an order book close to $100 billion. In this report our Market Insights team provides an initial analysis of the transaction as well as some interesting charts that highlight the true scale of Aramco.

Chavan Bhogaita, Rakesh Sahu
Market Insights & Strategy


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hot topics

Lebanon – Muddling Through

9 April 2019

Our brief analysis of the current economic and political situation in Lebanon.

Glenn Wepener
Market Insights & Strategy


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Oman - Pressure to Reform

18 March 2019

In the context of recent concerns about Oman’s economic and fiscal situation, please find attached our latest analysis of the Sultanate along with an overview of the sovereign’s economy, debt burden, and its plans for reform. Overall, we believe the bearish sentiment on the Oman story is somewhat overdone and feel that comparisons to the Bahrain ‘crisis’ last year are wide of the mark.

Chavan Bhogaita, Glenn Wepener, Simon Ballard, Rakesh  Sahu
Market Insights & Strategy


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2019 Risk Outlook – ‘ V for Volatility’ 

02 January 2019

Our suggestions on which potentially major geopolitical and market related risks investors should be keeping an eye on in 2019.

Glenn Wepener & Simon Ballard
Market Insights & Strategy

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Oil Market Outlook 2019 and Beyond

28 November 2018

The outlook for oil has become somewhat more difficult to judge especially in the longer term. In this interview with Refintiv, FAB oil and geopolitical strategist Glenn Wepener discusses the crude market’s recovery since 2016 and what to look out for in the years ahead.

Glenn Wepener, Executive Director, Market Insights & Strategy 

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Brexit Update: Still a clear and present danger

Hot topics – 22 November 2018

More than just the pure economic arguments, for and against Brexit, that have driven the narrative over the past two years, it is now political uncertainty that is weighing most heavily on U.K. risk asset, and currency, sentiment. We believe that the Brexit polemic is about to get even more interesting.

Simon Ballard, Exec. Director & Macro Strategist

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Ethiopia: An East African ‘Renaissance’ Story

Hot topics –16 October 2018

Ethiopia’s economic growth continues to be impressive and the initial steps taken by the country’s young and energetic Prime Minister have already borne fruit both internally and externally. However some political and economic challenges remain which we discuss within our latest review of the country.

Glenn Wepener - Executive Director & Geopolitical Analyst Middle East & Africat

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Brexit: What next? We try to demystify the polemic

Hot topics –25 September 2018

The Brexit process, or lack thereof, in the U.K. is currently raising more questions among investors than it is answering. What we do know is that the U.K. will exit the EU on March 29th 2019, with or without a ‘deal’. If there is a ‘deal’ then a two year transition period will follow for settling all the minutiae. With the deadline for reaching a deal between Westminster and Brussels – the need to agree terms on the future trading, economic and political relationship between the two regions – becoming ever closer, investors want clarity. In this latest research paper, we attempt to offer some answers to investors’ current concerns and questions over Brexit, as well as to offer some clarity on where the Brexit story and the direction of U.K. risk sentiment may go from here.

Simon Ballard - Executive Director & Macro Strategist, Market Insights & Strategy

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China & Arabia – The Return of the Silk Road

Hot topics – 07 August 2018

In this paper we focus primarily on China’s ancient and modern links with the Middle East and discuss the potential outcome the resumption of this mega-project could have on the region and beyond.

Glenn Wepener - Executive Director, Market Insights & Strategy

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Bahrain: Battered But Not Broken

Hot topics – 11 June 2018

With Bahrain’s current fiscal situation under the media spotlight recently, we conducted an analysis of the issue and conclude that the economic picture may not be as bad as it appears on the surface.

Chavan Bhogaita, Managing Director & Head of Market Insights & Strategy Glenn Wepener, Exec. Director & Geopolitical Analyst Simon Ballard, Exec. Director & Macro Strategist Rakesh Sahu, Analyst

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UAE Real Estate ‘‘Foundations for Optimism’

Hot Topics – 19 April 2018

In our latest review of UAE real estate, “Foundations for Optimism” we find that a soft, but nonetheless cautiously optimistic tone continues to characterize the UAE property market. After the correction seen in real estate prices during 2014/2015 the market is now showing some encouraging signs of underlying price support, although with evidence of extensive incentives being used by landlords to retain incumbent tenants or entice new ones, market conditions are still far from strong.

Simon Ballard, Macro Strategist, Market Insights & Strategy

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India & the UAE ‘Trading Places’

Hot Topics – 05 April 2018

Trading between the UAE and India go back centuries. In this piece we look briefly at the UAE’s more modern history and how its relations with India became so intertwined.

Glenn Wepener - Executive Director, Market Insights & Strategy

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Bahrain’s First $ Debt Issue of 2018, but Perhaps Not the Last…

Hot Topics – 28 March 2018

The Kingdom of Bahrain is in the market with its first deal of 2018, a 7.5 year sukuk transaction. Given the country’s budget deficit, recent ratings downgrades, etc, this sukuk deal is one that needs to succeed. Furthermore, given the magnitude of the country’s funding requirements, we don’t see today’s deal as being the Kingdom’s only transaction for 2018 and hence expect further issuance during the year. Watch this space….

Rakesh Sahu – Analyst, Market Insights & Strategy

Chavan Bhogaita, MD & Head of Market Insights & Strategy

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Aldar + Emaar: There’s More to it than a JV

Hot Topics – 21 March 2018

The announcement of a joint venture between two of the UAE’s leading property developers - Aldar and Emaar – is more significant than may first meet the eye. We believe the collaboration is of huge strategic importance to Abu Dhabi, Dubai and the country as a whole

Chavan Bhogaita, MD & Head of Market Insights & Strategy

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Global Remittances - A Brief Overview

Hot Topics – 18 March 2018

Global remittances have undergone substantial transformation and growth over the past 50 years, and furthermore it is likely that this transformation will be even more pronounced in the coming years as a result of technological advances. In this report FAB’s Market Insights & Strategy team provides a broad overview of Global Remittances and highlights some of the key factors aspects of this market.

Mohamed Ali Al Shamsi, Market Insights & Strategy

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Saudi Arabia - Shifting Sands

Hot Topics – 12 March 2018

There is an ancient Arabic proverb which literally translated into English reads: “You cannot change the wind, but you can adjust the sail.” Although having originated a long time ago it could still be used today to highlight Saudi Arabia’s recently unveiled and unprecedented program of social and economic change. While foreign media headlines and investors may currently be focused on the discussion over where and when Aramco will be listed, other equally important events are either already underway or due to take place this year, thus we try and discuss these in the following piece.

Glenn Wepener -Executive Director & Geopolitical Analyst, Middle East & Africa

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Italian Elections: Uncertainty Seems to be a Certainty

Hot Topics – 04 March 2018

Italy has long been a country characterised by a fragmented political landscape and unstable governments. The latest elections are unlikely to yield anything different. From a financial markets perspective, the results of this latest election could be even further reaching, carrying the potential to create a sharp spike in market volatility and to call into question the future of the eurozone project.

Simon Ballard - Macro Strategist, Market Insights & Strategy

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Macro Strategy Economic Updates

World Economic Forum 2018; What to Watch For

Hot Topics - 22 January 2018

The annual 4-day World Economic Forum (WEF) begins in Davos-Klosters, Switzerland tomorrow (January 23) and investors will be watching carefully for market-moving headlines. With India’s Prime Minister Modi and US President Trump expected to book-end the proceedings, and with a diverse range of debates in between, there should be plenty to interest the market. In this brief overview we highlight what we believe will be the key areas to watch.
Simon Ballard - Macro Strategist, Market Insights & Strategy
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Angola – Change Is In The Air

Hot Topics – 31 January 2018

Since the appointment of only the second Angolan President in 38 years a series of important policy actions have been initiated. We take a brief look at these and the potential outlook for this important oil producing country.

Glenn Wepener - Executive Director, Market Insights & Strategy

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Global Macro Thoughts

Hot Topics – 10 January 2018

Global financial markets are facing a potentially more challenging environment in 2018/2019 as central banks begin to pare back monetary and fiscal stimulus and embark on the (hopefully gradual) process of balance sheet normalization. The velocity of this normalization process will be key to how global markets react. To avoid adverse reaction across the risk asset space, central banks need to convey ‘dovish tightening strategies’. Time will tell.

Simon Ballard - Macro Strategist, Market Insights & Strategy

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Oman to Print 2018’s First Bond Deal from the GCC

Hot Topics – 10 January 2018

The Sultanate of Oman is currently marketing a 3-tranched bond deal. FAB’s Market Insights team has provided some initial thoughts on this transaction.

Rakesh Sahu, Analyst, Market Insights & Strategy; Chavan Bhogaita, Head of Market Insights & Strategy

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Cryptocurrencies - Back to the Future

Hot Topics – 10 January 2018

Digital currencies have become all the rage this past year, but could another ‘bubble’ market be forming and will the technology itself change the way we do business in the future?

Glenn Wepener - Executive Director, Market Insights & Strategy

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SUDAN: A Window Of Opportunity

Hot Topics – 18 December 2017

The recent lifting of US sanctions on Sudan has potentially provided the country with a window of opportunity to re-join the global community following a long period of relative isolation. However it still faces numerous economic and political challenges and these are the issues we attempt to analyse here.

Glenn Wepener - Executive Director, Market Insights & Strategy

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Oman

Oil Barrels Along

Hot Topics – 9 November 2017

Those of you who have been following our oil market commentaries for the past 12 to 18 months will already be aware of our optimistic outlook for crude prices since WTI dipped briefly below US$30 a barrel back in February 2016, and which we suggested was likely to be the bottom for this latest major cycle. Since then the market has staged a pretty respectable recovery but is there room to go further?

Glenn Wepener, Executive Director & Geopolitical Analyst Middle East & Africa

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Bahrain Prints $3bn Deal - Anyone Still Doubting Investor Demand?

Hot Topics – 14 September 2017

Bahrain’s successful $3bn three-tranche sovereign transaction shows pretty clearly that there is still substantial investor appetite for GCC paper. FAB’s Market Insights & Strategy team have produced a brief commentary on this deal.

Chavan Bhogaita, Head of Market Insights & Strategy

Rakesh Sahu, Analyst – Market Insights & Strategy

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Bahrain‘s New Bond/Sukuk Combo – A Good Test of Investor Appetite?

Hot Topics – 13 September 2017

Following the Kingdom of Bahrain’s announcement of initial price talk for its 3-tranche bond and sukuk transaction, FAB’s Market Insights & Strategy team provides a quick overview of the deal along with some relative value analysis.

Chavan Bhogaita, Head of Market Insights & Strategy

Rakesh Sahu, Analyst – Market Insights & Strategy

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Take Two - Kenya’s Presidential Election To Be Re-run

Hot Topics – 04 September 2017

Markets have begun to reflect growing concerns over the potential for extended political turbulence in Kenya, after the country’s High Court declared the latest Presidential election’s results invalid and ordered fresh elections be held within the next two months, due to ‘illegalities’ around the electronic transmission of paper results. We expect pressure on Kenyan assets to continue in the near term, at least until the poll has been re-run.

Glenn Wepener, Executive Director & Geopolitical Analyst Middle East & Africa

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Off The Beaten Track

Hot Topics – 24 July 2017

Smaller Sub-Saharan countries such as Djibouti, Mauritius and Rwanda have made significant advances both politically and economically over the past few years, but do not quite get the same degree of limelight as the larger countries in Africa. While facing numerous and ongoing challenges, these economies highlight the true potential and hope for the world’s largest continent as well as dispel some of its myths.

Glenn Wepener, Executive Director & Geopolitical Analyst Middle East & Africa

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Egypt – Quiet Progress

Hot Topics – 18 June 2017

While a number of major geo-political events such as the ongoing investigation into Russian meddling of the US elections, sabre-rattling by North Korea, Brexit and the more recent Qatar dispute, continue to take-up much of the global media headlines and analysis, Egypt has quietly been making progress on the economic front since it floated the pound and signed up to an IMF program late last year.(...)

Glenn Wepener, Executive Director & Geopolitical Analyst Middle East & Africa

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VAT in the GCC

Hot Topics – 1 June 2017

A quick primer on the VAT implementation in the GCC. There is of course much more information yet to come in terms of VAT – such as the granular details about how and when it will be implemented in each of the Gulf states. Please watch this space for further updates in this regard.

Alp Eke, Senior Economist

Omar Abdulhadi, Associate Director & Analyst

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Oman Markets Its Debut US$ Sukuk Issue

Hot Topics – 23 May 2017

Following on from its successful bond issue in March, the Sultanate of Oman is now back in the debt capital market – this time selling a debut 7-year sukuk transaction. NBAD’s Market Insights team has published its initial thoughts and relative value analysis in the attached document.

Chavan Bhogaita, Head of Market Insights & Strategy

Rakesh Sahu, Analyst – Market Insights & Strategy

Read the full article
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Words of War – The ‘Un’-doing Of North Korea

Hot Topics – 01 May 2017

In 1962 the world came the closest it’s yet been to a nuclear war, fortunately cool heads eventually prevailed both in the White House and Moscow as diplomacy overcame sabre-rattling and the rest of humanity breathed a huge sigh of relief. Now in 2017 are we facing another ‘missile crisis’ which, with very different personalities making decisions in Washington and Pyongyang compared to Kennedy and Khrushchev, has the potential to lead us down a road where diplomacy takes a back seat this time round?

Glenn Wepener, Executive Director & Geopolitical Analyst Middle East & Africa

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Saudi King Orders Cabinet Reshuffle & Restores Allowances

Hot Topics – 24 April 2017

The King of Saudi Arabia, Salman bin Abdulaziz, issued a number of decrees this past weekend including a reversal of certain austerity measures and a minor cabinet reshuffle.

Glenn Wepener, Executive Director & Geopolitical Analyst Middle East & Africa

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Iraq Politics & Economics – The Next Battle

Hot Topics – 13 April 2017

Over the past few years, the primary focus for the Iraqi government – in tandem with its local and foreign partners – has been and remains working to defeat ISIS. They now appear close to achieving this goal. Reconstruction, dealing with the humanitarian crises and establishing political stability across the country will then be their next and probably even greater challenge.

Glenn Wepener, Executive Director & Geopolitical Analyst Middle East & Africa Omar Abdulhadi, Associate Director & Analyst

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Saudi Arabia’s Pivot to Asia

Hot Topics – 23 March 2017

Asia was the prime destination for Saudi Arabia’s oil sales last year taking just under 70% of the country’s total crude exports. As the Kingdom adjusts its domestic and foreign strategic goals, a number of factors including King Salman’s three-week long tour of Asia and Saudi Aramco’s recent energy related acquisitions, suggest an increased focus on that region.

Glenn Wepener, Executive Director & Geopolitical Analyst Middle East & Africa

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Kuwait Prints $8bn of Bonds & Pledges Prudent Borrowing Strategy

Hot Topics – 14 March 2017

Following the successful issuance of $8 billion of bonds by the State of Kuwait, NBAD’s Market Insights team has published this report with their initial take on the transaction and brief relative value analysis versus other GCC sovereign debt.

Chavan Bhogaita, Head of Market Insights & Strategy

Rakesh Sahu, Analyst – Market Insights & Strategy

Read the full article
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Kuwait Minus Thirty

Hot Topics – 13 March 2017

The State of Kuwait has released initial details for its much anticipated jumbo bond issue. In this report our Market Insights team discusses the transaction and also provides some relative value analysis versus other GCC sovereigns.

Chavan Bhogaita, Head of Market Insights & Strategy

Rakesh Sahu, Analyst – Market Insights & Strategy

Read the full article
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Kenya – East African Power House Faces a Difficult 2017

Hot Topics – 03 March 2017

Despite an ongoing challenge by Ethiopia and Tanzania, Kenya has thus far managed to cling onto its spot as East Africa’s largest economy displaying a robust performance over the past few years, with 2016 proving to be no different as the country’s GDP expanded by 5.90%. However the year ahead could be a much more difficult one especially on the financial and political side.

Glenn Wepener, Executive Director & Geopolitical Analyst Middle East & Africa

Read the full article
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Fixed Income – Oman Successfully Prints $5bn in Bonds

Hot Topics – 02 March 2017

Oman not only joined the new issue party but made quite an entrance with its $5bn transaction yesterday – the largest ever single deal printed by the Sultanate. In this report we summarise details of the issue and provide some relative value comparisons versus other GCC sovereign paper.

Chavan Bhogaita, Head of Market Insights & Strategy

Rakesh Sahu, Analyst – Market Insights & Strategy

Read the full article
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Fixed Income – Oman Joins the New Issue Party

Hot Topics – 01 March 2017

The Sultanate of Oman has today announced initial price target information for its forthcoming 3-tranche bond deal. In this report we look at the key comparables within the GCC sovereign space and provide some relative value observations.

Chavan Bhogaita, Head of Market Insights & Strategy

Rakesh Sahu, Analyst – Market Insights & Strategy

Read the full article
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Nigerian Naira – Pressure Building

Hot Topics – 23 February 2017

With rumours of another possible Naira devaluation doing the rounds following the latest foreign exchange policy actions by the Nigerian Central Bank, we discuss the potential effect these changes may have and whether or not they will be enough to restore liquidity and confidence in the local currency.

Glenn Wepener, Executive Director & Geopolitical Analyst Middle East & Africa.

Read the full article
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Morocco - North Africa’s Star?

04 January 2017

With most of the North African region continuing to face severe political and economic challenges, one country in the Maghreb has managed to overcome some of its own domestic issues and markedly outperform its neighbours over the past few years. But after a relatively lacklustre 2016 will Morocco be able to move forward again this year?

Read full article here
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A Quick Glance in the Rear View Mirror

25 December 2016

Just as we had all re-wired our brains to write 2016 instead of ’15 we realised that we were already part way into the year, and thereafter – as always – the months flew past. Here we are now, in the last few days of the year and bidding farewell to what has been a pretty eventful year in more ways than one.

Chavan Bhogaita, NBAD's Global Head of Market Insights & Strategy

Read the full commentary
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President Trump and the Middle East

16 November 2016

The US presidential election results took forecasters by surprise. Let’s try and analyze what a Trump administration could mean for the Middle East.

Read full article here
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Egyptian Pound Finally Unshackled

08 November 2016

Insights team present their analysis of the situation, provide some useful context, and give some colour on the implications of this move

Read the full article
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Egypt’s Currency Dilemma

01 November 2016

The news this past Sunday that Egypt had finalized a US$2.7 bio currency swap agreement with China was a welcome development!

Read full article here
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Trump vs Clinton: Final Countdown

25 October 2016

As Election Day approaches, it is worth considering what Donald Trump’s economic proposals could mean for the USA and the world.

Read full article here
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KSA Enters the EM World in Style

24 October 2016

Saudi Arabia’s blockbuster sovereign bond issue truly conquered the emerging markets fixed income space last week!

Read full article here
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Saudi Arabia: The Kingdom Commeth

19 October 2016

The Kingdom of Saudi Arabia yesterday announced its much awaited super jumbo bond issuance. FAB’s Market Insights and Strategy team provide their initial take on the deal.

Read full article here
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Debt the Answer to KSA Conundrum?

17 October 2016

Saudi Arabia needs cash as part of its attempt to deal with substantial budget deficit. The indication that it may be done across 5, 10 and 30 year tenors shows that the Kingdom is thinking longer term.

Read full article here
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Oil – Which Way Is Up?

27 September 2016

"Since January this year we have been warning about the growing risk of a potential oil price spike in the near to medium term (...)"

Read full article here

Tunisia Awaiting a Miracle - 24 August 2016

Following the peaceful “Jasmine” revolution of 2011, Tunisia struggles to replicate its political achievements on the economic front.

Read full article here

Turkey: A Bumpy Road Ahead – 25 July 2016

S&P downgraded Turkey further into junk status; Moodys & Fitch have put the country’s ratings under review.

Read full article here

US Elections 2016: Mathematics vs Hype – 19 July 2016

The reason we believe Clinton will win over Donald Trump is based on basic numbers.

Read full article here

Saudi Arabia National Transformation Plan – 07 June 2016

The Saudi Council of Economic and Development Affairs approved the National Transformation Plan (NTP), a pivotal element of the Vision 2030.

Read full article here

Saudi Arabia: All Change – 10 May 2016

The latest raft of ministerial changes is another step in the direction of diversification. Reforms promised are unprecedented.

Read full article here

Saudi Arabia’s 2030 Vision – A Snapshot – 26 April 2016

The Kingdom’s “Vision 2030” plan involves a series of major economic and social reforms with ambitious targets.

Read full article here

Abu Dhabi – Additional Steps Towards Diversification – 13 April 2016

Abu Dhabi authorities have announced additional levies that are likely to generate material incremental revenues for the Government.

Read full article here

Saudi Arabia – The Kingdom Strikes Back – 06 April 2016

Saudi Arabia has substantial assets, financial reserves, and a host of options in its ‘tool kit’ to get through the current challenges.

Read full article here

Egypt – Investors Required – 15 March 2016

Egypt’s economy has suffered a severe downturn since the 2011 revolution as foreign investors and tourists deserted the country due to the subsequent social instability (...)

Read full article here

Angola – From Boom to Bust – 16 February 2016

Africa’s second largest oil producer relies almost entirely on crude oil sales which account for more than 75% of government revenues and 95% of the country’s foreign exchange inflows (...)

Read full article here

Iran’s Potential Oil Bonanza – 4 February 2016

There has been a lot of excitement and comment this past year about Iran’s full return to the oil and gas markets as sanctions are lifted and blocked overseas funds released.

Read full article here

Naira on the Edge? – 12 January 2016

Nigeria’s Central Bank will no longer sell hard currency to the Bureaux de Change firms and allow commercial banks to resume accepting US dollar deposits.

Read full article here
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Global Transaction Banking

Global Transaction Banking

Global Transaction Banking incorporates all areas of expertise and services aimed at facilitating cash management, trade and channel activities both domestically and globally.

Global Corporate Finance

Global Corporate Finance

Global Corporate Finance provides specific financing alternatives and assists you in the analysis of these options.

Global Corporate Finance

Global Financial Markets Forum

The Global Financial Markets Forum is one of the most prominent annual financial markets events in the MENA region. This prestigious gathering brings together topical and relevant content, world-class speakers as well as panel discussions and focused breakout sessions, along with unparalleled networking opportunities.

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First Abu Dhabi Bank

First Abu Dhabi Bank P.J.S.C

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