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 ...

  BAGHDAD / AP Iraq’s Oil Minister said his country supports any deal to prop up oil prices in the international market ahead of next week’s meeting of oil producers in Algeria, adding that fluctuating prices have badly affected the producers. Members of the Organization of the Petroleum Exporting Countries and non-OPEC producers are scheduled to meet Sept. 28 in ...

  AFP The huge Yahoo hack deals a fresh blow to the internet pioneer which has been struggling to reinvent itself, potentially impacting the pending sale aiming at giving it a new start. The hack in late 2014 affecting some 500 million users worldwide, disclosed this week, could further erode confidence in the online giant which has been on a ...

  Bloomberg Twitter Inc. is holding informal talks with several potential buyers after receiving interest from Salesforce.com Inc., people familiar with the situation said. Twitter’s board met several weeks ago after hearing from Salesforce, said the people, who asked not to be named because the information isn’t public. Twitter then hired Goldman Sachs Group Inc. and Allen & Co. to ...

Bloomberg Google’s cloud services will be used to test blockchain technologies for banks, an area where IBM, Microsoft and Amazon have been courting clients for the past year. Royal Bank of Scotland Group has employed Google servers in a trial of a new blockchain application for clearing and settlement, the consulting firm GFT said Friday in a statement. The company’s ...

  Bloomberg Apple Inc. is pressing ahead with the development of an Echo-like smart-home device based on the Siri voice assistant, according to people familiar with the matter. Started more than two years ago, the project has exited the research and development lab and is now in prototype testing, said the people, who asked not to be identified discussing unannounced ...

  Dubai / Emirates Business The Arab Fashion Council (AFC), a Dubai based non-profit fashion association promoting ‘Ready-Couture’ from around the world has officially announced the venue for the third edition of the highly anticipated Huawei Arab Fashion Week (HAFW). The bi-annual event is taking place from October 6-10 at the iconic Meydan Hotel and will be presented by Huawei. ...

  Milan / AFP Giambattista Valli says his fledgling ready-to-wear line is thriving — thanks to spillover synergy from a haute couture operation that has made him a darling of the celebrity A-list set. The Paris-based Roman designer has made his name with spectacularly beautiful and eye-wateringly expensive made-to-measure creations for the likes of singer Rihanna, George Clooney’s wife Amal ...

AFP Alessandro Michele unveiled his most extravagantly flamboyant Gucci collection yet on Wednesday with a pink-hued spectacular on the opening day of the latest Milan fashion week. The Roman designer credited with reviving the fortunes of what was a flagging brand returned to the themes that have underpinned his turnaround and, it seemed, pushed each envelope a little further. Androgynous ...