The Gulf Cooperation Council (GCC) region has become a hotbed of activity in the capital markets, with its stock markets hitting record highs. After a strong performance in 2022, the GCC is gearing up for even more excitement in the medium term. Companies in the region have already raised an impressive $3.4 billion from 10 initial public offerings (IPOs) in the first quarter of 2023 alone. Let's see the current market conditions.
We start with a disturbing fact: private households globally stand to lose €6.6 trillion in net financial assets in 2022, equivalent to a 2.7 percent decline in wealth. But there's something even more worrying: this loss is the biggest since the 2008 global financial crisis, according to the Allianz Global Wealth Report.
At their summit in August 2023, the BRICS countries discussed enlargement and the possibility of doing business without using dollars. Instead of the US dollar, local currencies might be used to facilitate mutual trade and investment.
The Institute of the German Economy found in a new study that the amount of money leaving Germany last year was more than ever before. But why is this happening?
The Bulgarian government intended to introduce the euro in January 2024. Now it has deferred these plans to 2025. The country hopes to overcome the months-long government crisis as soon as possible.
As recently as last year, most Swiss industrial companies were doing brilliantly. The economy grew more strongly than calculated; the real gross domestic product (GDP) rose by 2.6%, according to the national accounts. This year, however, will be more difficult.
168 billion Swiss francs is the amount that the Swiss National Bank (SNB) had to lend Credit Suisse in mid-March 2023, at the height of the banking crisis. This was the only option to prevent the collapse of the once-second largest Swiss bank. The SNB provided a substantial portion of this liquidity assistance without receiving collateral from Credit Suisse. Therefore, in the event of bankruptcy, the Swiss taxpayer could have also lost billions.
"We have achieved an enormous victory. Even from the Moon, you can see it, but surely from Brussels," Hungarian re-elected Prime Minister Viktor Orbán said shortly after the election results were published in 2022. Abroad, a controversial figure; at home, a king who has been in office since 2010 without interruption. The economic situation in Hungary is not at all satisfactory.

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