Topic - Macroeconomic
Foreign investment into Africa doubles
Foreign direct investment (FDI) into Africa has more than doubled since 2003 and most global executives believe the continent’s reputation as a business location has improved.
In the past nine years the number of FDI projects on the continent rose to 857 from 339. The market was worth some US$80bn in 2011, representing about 5.5% of global FDI projects – the largest proportion Africa has accounted for.
Azerbaijan's investment upgrade
Moody's changes Azerbaijan's sovereign debt to Baa3 stable.
IMF approves Angola payout
Fund makes final US$133mn payment under 27-month stand-by arrangement.
Mauritius basks in prospect of upgrade
Credit rating agency Moody's Investors Service could upgrade Mauritius.
Funding threat to CEE banks
LTRO initiative is only “buying time”, says equity analyst.
Saudi Arabia must boost jobs - IMF
Lagarde praises social progress but says challenges remain.
Crisis continues with sovereign downgrades
This week has seen continued uncertainty in Europe’s financial markets following the downgrade of several European governments’ credit ratings by Standard & Poor’s and ongoing worries about a looming default from Greece.
Standard & Poor’s decision to downgrade sovereigns including France, Austria, Italy, Spain and Portugal, and the subsequent downgrade of the EFSF, the eurozone bailout fund, highlighted concerns over politicians’ attempts to get their fiscal houses in order. “It’s difficult to quibble with S&P’s reasoning for its actions,” said Chris Scicluna, head of economic research at Daiwa Capital Markets.
Euro fund raises EUR3bn
EFSF sees strong demand for bond to boost Ireland and Portugal assistance.
Eurozone recession to deepen - Goldmans
Pressures should lead to “a more concrete policy agreement”, say analysts.
Euro bailout fund plans EUR3bn bond
EFSF mandates Credit Suisse, Deutsche Bank and SocGen for issuance.
Tunisia and Jordan join EBRD
Admission takes countries closer to receiving bank funds to support reforms.
Promise ahead for CEE banking systems
Russia, Poland and other markets have “very favourable” outlooks, says Raiffeisen.
Africa looks to second-half investment upturn
Continent sits “at the edge of emerging markets confidence”, says Standard Bank research head.
RenCap hires Russia economist
Investment bank appoints former BAML analyst to lead research team.
