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Will Lebanese banking defy predictions again?
Jul30

Will Lebanese banking defy predictions again?

Amid frequent predictions of Lebanese banking’s imminent demise, nearly all of which have been challenged by the sector’s defiantly resilient performance in the past, both at home as well as broad, yet another grim outlook comes from Moody’s rating agency. Data and research prepared by The Middle East in Europe suggests Lebanese banking has deep financial links in Europe, particularly in London and Paris, but also in...

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UAE subsidy axe good news for EU exporters
Jul27

UAE subsidy axe good news for EU exporters

The United Arab Emirates, which has vast investments throughout Europe and funds lucrative orders for European businesses, stands to benefit from axing billions of dollars of fuel subsidies as it fights to control a fiscal deficit amid falling energy prices. Moody’s rating agency said (27 July 2015) fuel price deregulation measures that will be introduced in the UAE from 1 August are “credit positive for the UAE and Abu Dhabi...

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MENA banks under strain of falling oil prices
Mar04

MENA banks under strain of falling oil prices

Major banks in the Middle East and North Africa region, with deep links in Europe, are seen by rating agencies as coming under increasing pressure in response to the ongoing oil price decline. Moody’s and Standard and Poors said the banks, with a few exceptions, are expected to tide over the cash crunch being created by falling oil prices and a general prognoses of a sustained low performance of the oil markets. But, they added,...

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Moody’s calms oil price fears
Oct21

Moody’s calms oil price fears

Continued growth in global oil demand means recent downward fluctuations in prices of the commodity are unlikely to lead to a precipitous long-term fall, Moody’s rating agency investors service said Tuesday (21 October 2014). “It’s hardly shocking that oil prices have weakened in the face of growing supply,” Moody’s Managing Director Steve Wood said in a report. “But last week’s sharp drop has...

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MENA wealth disparity shows up in sovereign ratings
Mar04

MENA wealth disparity shows up in sovereign ratings

The Middle East and North Africa (MENA) sovereign ratings illustrate the sharp economic and fiscal divisions as well as the political dynamics between the oil-exporting Gulf Cooperation Council (GCC) and the rest of the MENA region, says Moody’s Investors Service in an update to its Sovereign Outlook report on the region published 4 March 2014. “GCC sovereigns all have investment-grade ratings, generally reflecting strong...

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