5 things that happened this week:
Egypt got an upgrade from Fitch
Credit-rating outlook up from ‘stable' to 'positive'
Why? The $57 billion international bailout
1/5
bloomberg.com
Egypt got an upgrade from Fitch
Credit-rating outlook up from ‘stable' to 'positive'
Why? The $57 billion international bailout
1/5
bloomberg.com
Turkey is halting all trade with Israel
Until Israel allows uninterrupted & sufficient flow of humanitarian aid to Gaza
Trade between the two was $6 bn in 2023, mostly Turkish exports to Israel
Size is small versus Turkey's $1 trillion annual GDP
2/5
bloomberg.com
Until Israel allows uninterrupted & sufficient flow of humanitarian aid to Gaza
Trade between the two was $6 bn in 2023, mostly Turkish exports to Israel
Size is small versus Turkey's $1 trillion annual GDP
2/5
bloomberg.com
Saudi economy contracted in the first 3 months of the year (blue)
Oil production declined (grey)
And non-oil activity slowed (red)
3/5
bloomberg.com
Oil production declined (grey)
And non-oil activity slowed (red)
3/5
bloomberg.com
Saudi & the US are nearing a pact:
US to offer: access to advanced weapons, AI investments, civilian nuclear programme
Saudi to offer: Limit China technology, possibility of diplomatic ties with Israel, commitment to not sell oil in yuan
4/5
bloomberg.com
US to offer: access to advanced weapons, AI investments, civilian nuclear programme
Saudi to offer: Limit China technology, possibility of diplomatic ties with Israel, commitment to not sell oil in yuan
4/5
bloomberg.com
The UAE raised oil production capacity
From 4.65 to 4.85 million barrels/day
Big picture: Saudi wants to withhold oil supplies, the UAE is eager to use them
5/5
bloomberg.com
From 4.65 to 4.85 million barrels/day
Big picture: Saudi wants to withhold oil supplies, the UAE is eager to use them
5/5
bloomberg.com
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