News

  Bloomberg Turkey’s sovereign credit rating was cut to junk by Moody’s Investors Service, which concluded a review initiated after an unsuccessful coup attempt on July 15. Moody’s cited rising risks related to Turkey’s external financing needs and a weakening in its credit fundamentals as economic growth slows. The rating was cut to Ba1 from Baa3, leaving Fitch Ratings as ...

Reuters Vodafone Group Plc is getting squeezed in Egypt as its state-backed partner embarks on a solo push into wireless services — crowding the market with a fourth provider while potentially leaving its U.K.-based ally to fend for itself. To finance its own network, Telecom Egypt may sell its 45 percent stake in an existing venture with Vodafone, according to ...

  Fujairah / WAM Fujairah’s quest to develop its energy sector within the UAE’s national energy strategy has catapulted the country to become a world leading bunkering hub, HH Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah, said on Thursday. “The launch on Wednesday of the first Very Large Crude Carrier Jetty on the Indian Ocean ...

  DUBAI / WAM Foreign investors purchased AED726.2 million worth of shares on the Dubai Financial Market (DFM) and sold AED664.4 million over the week, DFM said on Thursday. Net foreign investment on the market reached AED61.8 million as aggregate buy. Value of shares bought by foreigner investors comprised 48.1 percent of the total value of stocks traded during the ...

  Dubai / EMIRATES BUSINESS Antigua and Barbuda is expecting to see a significant boost in investment and travel from the Middle East. An exclusive exposition style conference is set to take place in October 2016 at Dubai’s Palazzo Versace Hotel highlighting the islands’ exceptional investor and citizenship benefits. Antigua and Barbuda’s low-tax structure, offering investment free from personal income ...

  Dubai / WAM The UAE and the Republic of Slovenia are witnessing an evolving economic landscape and have an extraordinary opportunity to take their bilateral relationship to the next level and help each other make a more positive and profound impact on the global economy, Sultan bin Saeed Al Mansouri, Minister of Economy, said on Thursday. “In recognition of Slovenia’s ...

  Abu Dhabi / WAM Khalifa University was named the top university in the UAE this month by Times Higher Education (THE) University Rankings. Of note, this was also the first time Khalifa University had been listed in THE. Khalifa University was ranked in the 501-600 category, out of 980 universities worldwide. This follows the recent announcement on 6th September that ...

  Abu Dhabi / WAM The General Secretariat of the Executive Council in Abu Dhabi launched the fifth cycle of the Abu Dhabi Award for Excellence in Government Performance, with 55 Abu Dhabi government entities competing for 24 awards. The award seeks to significantly improve institutional performance, evaluate excellent government performance in Abu Dhabi government entities, highlight achievements, and create and ...

  New York / WAM The United Arab Emirates on Thursday formally joined the Paris Agreement on climate change, after Dr Thani Al Zeyoudi, UAE Minister of Climate Change and Environment, submitted the UAE’s instrument of ratification at a high-level event on the agreement’s entry into force, convened by UN Secretary-General Ban Ki-moon at the UN headquarters in New York. The ...

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai visited the head office of the Dubai Health Authority to inspect the flow of work and vital projects announced as part of Dubai’s strategic plan for 2016-2021. HH Sheikh Mohammed commended the health authority’s ambitious strategy and stressed that ...