In Pictures
Salaries, disposable income, luxuries, and savings; HSBC used these four factors to determine a league table of the best expat destinations from a financial point of view. Here’s the top ten.
Arabic News View
Kipp takes a look at some editorials from the Arabic press. This week: Iraq’s oil targets; US peace talks; Gaddafi and his girls; Jordan’s economy; Israel and Palestine prisoners.
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Last Week's Winner
Alia Akkad
Alia Akkad
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The great fares rip-off?
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Moody’s downgrades six Dubai firms
Credit ratings agency Moody’s downgraded six Dubai-based companies on Tuesday including DP World, Dubai Electricity and Water Authority, Emaar Properties, Jebel Ali Free Zone, Dubai Holding Commercial Operations Group, and DIFC Investments.
“In recent statements the government has highlighted that it sees no legal obligation to support non-guaranteed debt of its GRI’s (government-related issuers),” said Philipp Lotter, senior vice president for Gulf corporates at Moody’s. “Taking into account the government’s most recent position, Moody’s no longer believes it appropriate to assume timely support,” he said.
Iraq raises crude prices for U.S. Europe, Asia-source
The October price for Basra light crude for Asian buyers was set at a discount of $1.35.
The October price for Basra light crude for Asian buyers was set at a discount of $1.35.
Tags: credit rating, downgrade, Dubai, Moody’s.
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