Troubled Texas power grid operator ERCOT on Friday said $2 billion in charges for power and services went unpaid, according to an official notice, signaling the financial fallout from high electricity rates is spreading to utilities.
Foreigners turned net sellers of Japanese equities for the first time in three weeks as rising U.S. yields prompted some investors to book profits after the local indexes hit their highest in about 30 years last week.
SOE debt makes up around a fifth of EM sovereign debt benchmark Concerns over ESG, sovereign fiscal strength could raise refinancing costs
LONDON, Feb 26 (Reuters) - Brazil’s shake up of state-run oil firm Petrobras has caused shockwaves at home but may also prompt some bond investors to rethink their $1 trillion-plus exposure to other government-controlled companies across emerging markets.
From China’s Exim Bank to Mexican oil giant Pemex or South African utility Eskom, companies wholly or partly government owned make up half of the $2.4 trillion market in emerging market corporate debt.
Such state-owned enterprises (SOEs) are generally in high demand from investors, first as their bonds carry a yield premium over sovereign’s debt and second, because of the perception of state backing.
Nigeria's central bank is seeking asset managers for a new $2.6 bln infrastructure investment company set up to develop the country's crumbling transport networks and boost economic growth.
Malaysia's Employees Provident Fund (EPF) saw its investment assets grew 7.9% from a year earlier to a market value of 1.02 trillion ringgit ($252 billion) at the end of 2020, the fund said on Saturday.