Turkey slams Moody’s downgrade, questions company’s objectivity

Ankara: Moody’s decision to downgrade Turkey’s credit rating is incompatible with fundamental indicators, Turkey’s Treasury and Finance Ministry said, adding that the country will never abandon free-market principles. The downgrade “raises questions” about the objectivity of the credit-rating company’s analysis, Turkey’s Treasury and Finance Ministry said in a statement early Saturday. Moody’s Investors Service cut […]

Dubai business confidence at a 52-week high

Dubai: Businesses operating in Dubai’s wholesale and retail sector recorded the sharpest improvement in confidence, helped by new orders, as did the travel and tourism sector. This helped overall sentiments among UAE private businesses to a 52-week high, according to the economy tracker for May. The other strategically vital sector — construction — maintained upbeat […]

Now, US-India trade tension hangs over Indian capital markets

New Delhi: Indian equity markets could come under pressure over the fresh tension between the US and India over trade as India retaliated with tariffs on 29 American products, starting from Sunday. This decision followed the US ending India’s $5.6 billion trade concessions under the Generalised System of Preferences (GSP) programme. $ 142 b US-India […]