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• As we expected, the US House of Representatives approved USD95bn in foreign aid on April 20 including USD60.7bn in aid for Ukraine (31.8% of GDP).
• The resumption of US military aid should provide Ukraine with just enough materiel to defend itself, but its forces will still lack resource volumes required to contest the battlefield

Key View

• The Alliance for Regional Production and Innovation proposed by Brazil is poised to strengthen the country's pharmaceutical market growth, supporting the projected rise in pharmaceutical sales.
• This initiative, which aligns with Brazil's economic and healthcare strategies, is expected to drive domestic innovation and production

We retain our mixed short-term outlook for the currencies that we cover in the Middle East and North Africa (MENA) region. All of the MENA currencies we track closely have weakened so far this year, albeit to different degrees (see chart below). 

In Israel, the ongoing war in Gaza and rising tensions with Iran led to a nearly 5.0% depreciation

Key View:

• The economic feasibility of importing hydrogen as opposed to developing domestic hydrogen production hinges on comprehensive cost analyses across various markets. Transporting hydrogen by sea becomes cost-effective for distances exceeding 2,500 kilometers, necessitating advanced infrastructure and strategic decisions regarding

Please Note: BMI is enhancing its risk analysis with a new scoring system following its acquisition of GeoQuant, a market-leading provider of political risk data. From March 27 2024, risk scores are inverted: zero now represents the lowest risk and 100 represents the highest risk. This allows for clearer, industry-standard assessments. For

Latest Development: Smart Communications (Smart), a subsidiary of incumbent, Philippines-based operator PLDT, has initiated a campaign to boost eSIM adoption among prepaid customers, offering current Smart subscribers an upgrade to eSIM for PHP99 (USD1.75) while retaining their number, and providing non-Smart users the option to switch to Smart

Key View

• The limited nature of Israel’s retaliation against Iran on April 18/19, and Iran’s muted response, suggest that both sides are seeking to de-escalate tensions, which is now the likeliest scenario.
• Indeed, the reaction in oil markets was muted, and oil price futures are already declining. If Israel and Iran remain on this de

Latest Development: In a significant shift in regulatory approach, the FDA is urging Congress to eliminate the interchangeability designation that has long differentiated biosimilars in the US market. This proposed legislative change is set to resolve the confusion stemming from a two-tier system that has inadvertently created misconceptions about