DUBAI / Reuters Qatar’s stock market dropped on Tuesday after Fitch cut the country’s credit rating, while most other Gulf bourses fell in thin trade but Egypt’s blue-chip index gained strongly, helped by investment firm Qalaa Holdings. Fitch lowered Qatar by one notch to AA-minus with a negative outlook on Monday, citing the impact of sanctions imposed by other Arab ...

Bloomberg A logjam is looming at the Bank of England as almost 80 foreign banks that are operating UK branches decide on their future in post-Brexit Britain. The first choice for lenders from the European Union using the passporting mechanism for their UK business— a device that will no longer be available after Brexit— is whether to stay or go. ...

Bloomberg JPMorgan Chase & Co., Wells Fargo & Co. and Comerica Inc. are among banks waiving ATM fees for Houston-area customers following flooding from Hurricane Harvey. JPMorgan will also forgo collecting late fees for mortgage, credit card, business banking and auto loans, and will temporarily suspend monthly service and overdraft charges on deposit accounts, the firm said. Wells Fargo also ...

Bloomberg Ghana’s President Nana Akufo-Addo is banking on good news from the International Monetary Fund after his predecessor derailed an economic recovery plan through overspending. As the nation awaits the outcome of a review from the Washington-based lender, which may come as soon as Wednesday, on reforms since Ghana entered a $918 million credit programme with the lender in 2015, ...

Bloomberg The euro advanced to its strongest level in more than two years, hours after North Korea fired a ballistic missile over Japan. Core European bonds rallied as risk-off sentiment spread across the globe. Europe’s common currency gained for a third day even as South Korean President Moon Jae-in ordered a show of force in response, which traders said highlighted ...

Bloomberg Georgian billionaire Bidzina Ivanishvili sued Credit Suisse Group AG in Singapore, New Zealand and Bermuda, alleging the bank must have known about the actions of a former employee who forged trades to cover losses from other customers’ accounts. Ivanishvili, an ex-prime minister of the former Soviet republic, filed the claims in Auckland at the New Zealand High Court on ...

DUBAI / WAM A total of AED151 billion ($41 billion)was invested by foreigners in Dubai property market in 18 months, according to the Dubai Land Department. The DLD revealed the figure while announcing a list of the top10 nationalities that invested in the emirate’s realty market between January 2016 and the end of June 2017. The new list confirms that ...

DUBAI / WAM A total of AED151 billion ($41 billion)was invested by foreigners in Dubai property market in 18 months, according to the Dubai Land Department. The DLD revealed the figure while announcing a list of the top10 nationalities that invested in the emirate’s realty market between January 2016 and the end of June 2017. The new list confirms that ...

Abu Dhabi / WAM HH Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, said that the UAE, under the leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, is proud of the mothers of its martyrs, as they are honourable role models for Emirati daughters, because ...

Abu Dhabi / WAM Abu Dhabi has been named as the ‘Leading Overseas Luxury MICE Destination’ at the prestigious China Travel and Meeting Industry Awards held in Beijing, China. The emirate was nominated alongside over 40 destinations, including Las Vegas and France, and the award was presented to Abu Dhabi Tourism and Culture Authority (TCA Abu Dhabi), representatives at a ...