challenges

Beaten-down Russian assets are looking attractive to some, with JPMorgan strategists touting the bonds of Russian companies with significant international operations as the best way to profit from distressed pricing, while two banking sources said that loans of Russian corporates had been offered at a steep discount.

Western sanctions banning several Russian banks from the SWIFT international payments network with the potential threat of more to come if there is no end to the Ukraine conflict is likely to push Moscow to seek alternatives.

"Commitments made since the opening of subscription to the 1st tranche of the national bond have totalled TND 530 million, or 150% of value of this bond loan (TND 350 million)," said Maher Zouari, the Director General of Tunisie Clearing which is in charge of keeping subscribers' registers.

The Tunisian-Mauritanian Forum "For a partnership and efficient and profitable investments for both countries" started on Monday in Nouakchott, with the participation of 100 business institutions and operators.

Tunisia and the African Development Bank (AfDB), on Monday afternoon, inked a loan agreement for €103.95 million (equivalent to 335 million Dinars) to finance the Road Infrastructure Modernisation Project, Phase 2 (PMIR II).