MAIA Action – March 2026 Author: Dr. Stefania Manes – Financial Risk & Governance The value of " non-investment " decisions. In the business world, we often talk about opportunities, growth, and new investments. The value of decisions unrelated to investments is discussed far less frequently. However, a fundamental component of good governance is precisely the recognition of when a project may appear interesting on paper, but does not offer sufficiently solid prerequisites

Maia-Action Insight - March 2026. Author: Dr. Marco Iacono - Energy & Infrastructure Advisory Three questions an investor should ask himself before investing. In the energy sector, and particularly in infrastructure projects such as renewable energy plants, project evaluation cannot be limited to verifying technical feasibility or estimating potential revenue. A project becomes truly investable only when it demonstrates the ability to sustain a solid financial structure over

Institutional price development in the event of a geopolitical shock. Recent news has led to rapid developments in: Oil; Gold; Core bonding; safe currencies. From an institutional perspective, the price development allows us to track consensus formation in real time. 1. Compression and rupture. The following observations are made during the shock phase: sudden fractures in closed mountain ranges; Increase in volatility. Redefinition of equilibrium levels. These are not operat

Corporate debt amid geopolitical tensions. Recent developments have led to an immediate widening of corporate loan spreads and increased volatility in credit markets. This has direct implications for: Marginal cost of new issue; Refinancing prices; The risk appetite of institutional investors. 1. Rollover risk in an unstable environment. A company with tight deadlines might be forced to refinance under the following conditions: less fluid; more expensive; selective. The risk

Bankability in a global energy shock. The recent military escalation has reignited the risk of disruptions to key global energy routes, which will have an immediate impact on oil and gas prices. This scenario has a twofold effect on energy projects: higher profit potential in the short term; Increase in structural uncertainty in the medium to long term. Bankability does not automatically equate to favorable volatility. 1. Network and supply chain risks. Geopolitical tensions

Financial governance amidst energy crisis and military tensions. The recent military escalations in Iran and the Middle East have triggered an immediate market reaction: rising oil prices, increased implied volatility, falling yields on key government bonds, and widening credit spreads. In this context, financial management must not be limited to the ordinary management of the debt structure, but must include a structural geopolitical dimension. 1. Interest rates, inflation a