Turkey’s economy, which grew by a stellar 8.5 percent last year, will manage to achieve a soft landing this year despite rising external risks such as the euro zone debt crisis, the country’s finance minister Mehmet Simsek told CNBC on Tuesday.
Egypt made history on Wednesday as it kicked off its first free presidential election and put its fragile democratic transition to the test. Just over 50 million eligible citizens are expected to cast their votes over the course of two days.
Amr Moussa, one of Egypt’s top presidential candidates, has reiterated his belief in free markets and told CNBC in an interview on Tuesday that the country needed to “open up”.
The Egyptian Central Bank surprised observers after reporting an increase in foreign currency reserves for the first time since December 2010 earlier this week.
There always is a plethora of questions any stakeholder has for a presidential hopeful. For both local and foreign investors, those will often pertain to economic policies that will help the Arab world’s most populous nation out of its slump. But for most Egyptians and as a corollary the 13 presidential candidates in this month’s election, it’s not.
Sudan has warned nascent South Sudan it would not allow what it described as widened aggression along the border. A state of emergency is already in effect after several weeks of clashes and fears are growing of an escalation into a full-blown war.
Democracy is “well within reach” in Egypt and has “significant upside potential” in the medium term, Renaissance Capital said in its latest report. It expected investments to increase after the country’s presidential elections, scheduled for later this month.