Jon Gorvett
Once a premium destination for overseas investors, Turkey’s power sector has recently been struggling with the impact of lower-than-expected growth rates, partial market liberalisation and fixed, long-term natural gas contracts. Power generation firms face further stress as the economic impact of the pandemic bites. Efforts to arrange a new debt restructuring deal have been delayed by the virus and wider economic woes, casting uncertainty over future demand. However, the sector retains some high-grade assets, however, which may attract future investor interest.
Brazil is open for business
When the divisive Jair Bolsonaro became president of Brazil a year ago, it raised many concerns about the direction his country would take. The domestic and international business community has been relatively united in welcoming him and his strong free-market inclinations, which remain particularly attractive to foreign investors. For Gulf countries, maintaining good trade relations with Brazil is undoubtedly positive – but Bolsonaro caused controversy across the Arab world when, shortly after taking office, he announced a plan to move his country’s embassy in Israel to Jerusalem from Tel Aviv. It took a visit to Saudi Arabia, the UAE and Qatar last October – and many new trade deals – for the Brazilian leader to begin repairing relations.
