New York: Turkey’s credit rating was cut deeper into junk territory by Fitch Ratings, days after the dismissal of central bank governor Murat Cetinkaya. Fitch reduced the nation’s long-term foreign currency debt rating to BB-, three notches below investment grade and on par with Brazil, Greece and Bangladesh. Fitch’s new rating is a step above […]

Singapore, Hong Kong: Private bankers are being flooded with inquiries from investors in Hong Kong who are worried about the long-term effects of the political crisis in the Chinese city. While the Hong Kong government has shelved the controversial law that sparked the latest round of unrest — one that would have allowed criminal suspects […]

Beijing: China’s exports fell in June as the United States ramped up trade pressure, while imports shrank more than expected, pointing to further weakness in the world’s second-largest economy and slackening global growth. The gloomy trade readings added to a string of recent downbeat economic data which have fuelled expectations that Beijing needs to announce […]

Dubai: The hypermarket operator Union Coop recorded a 20 per cent growth in net profit — or a near Dh50 million in value terms — for the first six months of 2019, totalling Dh284.6 million against Dh237.7 million. According to a senior official, the gains came through even as the chain working on price reductions […]

Abu Dhabi: Small-sized businesses in Abu Dhabi’s energy sector will now be able to acquire instant licensing in through Abu Dhabi Government Services System (Tamm). The licenses will be issued within one working day and comes free of charge for a two year validity. “This facility aligns with Abu Dhabi’s strategic direction by increasing the […]

He was 79 years old.

The move came into effect on July 1.

The bank said the decision will help “combat financial crime”.

The bank said the decision will help “combat financial crime”.

The bank said the decision will help “combat financial crime”.