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Eurasia
17/03/2024 18:30
Most international investors in recent years have shied away from the government's domestic securities amid fears of currency devaluation and concern about taking back money from a country suffering from a severe dollar shortage.
In just two weeks, a $35 billion investment deal with the UAE, an expanded $8 billion loan from the International Monetary Fund, a 600-basis-point interest rate hike and an exchange rate shift put the domestic fixed income market back into the spotlight.
After the positive developments, Moody's revised Egypt's outlook from negative to positive, attributing this to "significant official and bilateral support" and "policy steps taken" over the past days, but keeping the country's credit rating at Caa1, which still means sovereign debt carries very high risk. Goldman Sachs Farouk Sousse told clients in a note that the latest developments had revived "the near-term investment hypothesis in riskier Egyptian assets."
Air China will operate daily flights between Budapest and Beijing from next spring instead of the current four weekly services, making the Hungarian capital the fourth city in the European Union to have a daily direct air connection with the Chinese capital, Minister of Foreign Affairs and Trade Péter Szijjártó announced on Sunday in Budapest.
President Kassym-Jomart Tokayev and President of Iran Masoud Pezeshkian took part in the Kazakhstan–Iran Business Forum in Astana on Dec. 11, reaffirming the growing economic and strategic partnership between the two countries.
Türkiye ensures and guarantees the route of Russian energy carriers to Hungary, the Hungarian prime minister declared on Monday in Istanbul at a joint press conference with President Recep Tayyip Erdoğan.