Schildershoven Finance is a Dutch company. Its origins deeply influence its nature, especially in business, how it interacts with its customers and partners, and its view of the world. Ferenc Brewster Managing Director Ferenc Brewster chose to take a look at himself and his fellow countrymen and share what he found with our blog readers….

02.03.2015 | Rus | Comments (0) | Read more

• Turkey is suffering from high inflation and national currency devaluation on the one hand and low economic growth on the other. The Central bank is facing a difficult problem which is complicated by the heavy political pressure. • Falling currency reserves and weaker yuan may limit the Chinese regulator in its economy supporting measures…

09.01.2017 | Analytics | Comments (0) | Read more

• Some comments by Vladimir Putin on Syria, Trump, Russia- Turkey relations may affect the market. However, his previous conferences did not reveal any market important information. • Investors are likely to positively react to the news that Deutsche Bank has reached an agreement with the US Justice Department and almost halved an initial claim….

23.12.2016 | Analytics | Comments (0) | Read more

• S&P decision may negatively affect Samruk-Energy Eurobonds. However, it is unlikely investors will believe that the company may lose the government support. • Bank Otkritie rating CreditWatch placement with negative implications may cool down investors’ appetite for the bank’s Eurobonds. • We assume that the PrivatBank nationalization may trigger its Eurobond restructuring. • Indonesian…

22.12.2016 | Analytics | Comments (0) | Read more

• Turkey’s central bank decision to hold the rates may be positively assessed by the market as investors had predicted some policy tightening. The main risk for most investors is the lira dynamics. • We do not expect any market reaction to the Kazakh banks’ ratings affirmation.  • We see some risk for AK BARS…

21.12.2016 | Analytics | Comments (0) | Read more

• The attack on Russian ambassador in Turkey and a probable terrorist attack in Berlin may trigger a risk off mood among global investors. The correction should not be too deep and too long. • We do not expect any reaction in the Russian market to the EU sanctions extension.  • Changes in Chinese banking…

20.12.2016 | Analytics | Comments (0) | Read more

• Given the CBR decision has been expected by investors, the market reaction will be neutral. The main disappointment is that the next rate cut may be postponed to the 2nd quarter of 2017 which might limit the positive trend in local bonds. • We do not rule out some positive reaction to S&P outlook…

19.12.2016 | Analytics | Comments (0) | Read more

• Investors estimate no change in Russia’s Central Bank monetary policy during the meeting. The market reaction should be neutral. • Improvement in relations between Russia and Japan will not have any immediate impact on the market. However, it may enhance investment climate in both countries in the mid-term. • We do not rule out…

16.12.2016 | Analytics | Comments (0) | Read more

• We expect neutral market reaction to the Uralkali 9M2016 financial results as on the one hand the company showed marginal decline in sales and revenue for the period, however, on the other hand, according to the report, market conditions stabilized in 3Q2016 and the company showed some increase in export sales. • S&P assess…

15.12.2016 | Analytics | Comments (0) | Read more



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