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Renaissance Capital, the investment bank owned by Russian billionaire Mikhail Prokhorov, is taking a long-term bet on Egypt even as tensions in the region are on the rise.The bank got its Egypt license earlier this year and is entering the market as Saudi Arabia's anti-corruption purge and a deepening feud with Iran fuel geopolitical risk. At the same time, one year after Egypt devalued its pound, economic growth is accelerating and stocks are at record highs.Earlier this month, the International Monetary Fund reached a staff-level agreement with Egypt to unlock a $2 billion loan installment, and said economic reforms in the Arab world's most populous nation are starting to pay off.Here's RenCap's take on other EMEA markets:
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