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• We forecast that Kenyan real GDP growth will remain strong at 5.2% in 2024, against estimated growth of 5.5% in 2023 – we have upwardly revised our 2023 estimate from 5.2% previously, following the release of stronger-than-expected Q323 data, while our 2024 forecast represents a downwards revision from our previous projection of 5.4%

The Latest: Robot-assisted lung biopsies are emerging as a new technology to support earlier lung cancer diagnosis. The robots allow physicians to access more difficult to reach lung nodules than a biopsy performed by a physician, as they are smaller and more minimally invasive. This can support better treatment outcomes for lung cancer, as

Key View

• Official advance estimates showed that Singapore’s economy grew by 1.7% q-o-q s.a. in Q423, accelerating from 1.3% q-o-q s.a. in Q323 and outperforming our forecast.
• Manufacturing was the main growth driver, but contractions in Q123 and Q223 meant that the sector is still smaller than it was in 2022.
• We expect the recovery in

Key View: Looking at the near term, we maintain a relatively upbeat outlook for electric vehicle (EV) adoption in the US, expecting domestic EV penetration rates to grow to 17.9% by 2024. Growth will stimulated by the US IRA bill, as the tax credits will make those models that qualify for the incentives more affordable for consumers. However, we

Key View

• Pakistan’s current account deficit narrowed to just 0.7% of GDP in FY2022/23 (July 2022 to June 2023), but we think that strengthening domestic demand will cause the shortfall to widen to 1.4% in FY2023/24.
• The recent narrowing of the deficit was due almost entirely to import compression, rather than stronger export earnings. We

The Latest: On December 26 2023, AstraZeneca announced its plan to make one of its first acquisitions in Mainland China and acquire Gracell Biotechnologies for up to USD1.2bn to increase its investment in cell therapies for treating cancer. The proposed acquisition will add a potential new treatment for multiple myeloma, a type of bone marrow

Latest Developments: Working in conjunction with Ericsson, Three has become the first operator in Ireland to conduct live trials of 5G standalone (5G-SA) networking capabilities. Our view is that this development will increase the rate of 5G market development in the country.

Forecast Implications: Our 5G forecasts currently project that there

Key View

• We expect that Namibia’s current account deficit will narrow from 13.0% of GDP in 2022 to 12.5% in 2023 as the import bill declines more sharply than export receipts.
• We see the deficit remaining stable at 12.5% of GDP in 2024, as a further improvement in the trade balance is offset by rising services imports related to oil and gas

The Latest: On December 26 2023, the Algeria-based pharmaceutical company, Saidal Group, declared that it will initiate the production of insulin, including pen forms, for human application. The production kickoff is targeted for June 2024. This move is expected to curtail Algeria's reliance on foreign insulin supplies, potentially causing shifts

The Latest: On December 22 2023, Bristol Myers Squibb (BMS) announced plans to acquire Karuna Therapeutics, a central nervous system (CNS) company that specialises in developing therapeutics for psychiatric and neurological disorders, including schizophrenia and Alzheimer’s disease (AD) psychosis. The deal is worth a total of USD14bn.

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