Business & Management

Libya's long-term ratings lowered on elevated political risk

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Standard & Poor's Ratings Services lowered its long-term sovereign credit rating on the Socialist People's Libyan Arab Jamahiriya (Libya) to 'BBB+' from 'A-'.

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Egypt's industry leaders promise not to lay off workers in the industry sector

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A meeting held by the Minister of Trade and Industry, Dr. Samiha Fawzy, and the Federation of Egyptian Industries (FEI), which represents all the industrial sectors in Egypt, agreed to a number of guarantees for  Egyptian workers in the industrial sector.

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Kingdom of Bahrain ratings lowered on heightened political risk

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Standard & Poor's Ratings Services lowered its long- and short-term sovereign credit ratings on the Kingdom of Bahrain (Bahrain or the Kingdom) to 'A-/A-2' from 'A/A-1' and placed them on CreditWatch with negative implications.

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Raysut Cement Company net profits drop

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Raysut Cement Company announced that it saw a 27.7 per cent fall in net profit at US$53.8mn for last year, due in part to a big fall in sales.

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Jordan’s 2011 budget deficit falls

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The minister of finance announced that Jordan's budget deficit fell by US$704mn which amounted to 5.3 per cent of gross domestic product (GDP).

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