Capital Intelligence (CI), the international credit rating agency, has downgraded Bahrain’s Long-term Foreign and Local Currency ratings to ‘BBB+’ from ‘A’ and lowered its Short-term Foreign and Local Currency ratings to ‘A2’ from ‘A1’. The outlook is ‘negative’. The downgrade reflects the recent increase in political risk, which may have adverse consequences for economic growth
More
Etihad Airways and the Engine Alliance have signed agreements for the purchase of the GP7200 engines to power its fleet of ten Airbus A380 aircraft and for a long-term Fleet Management Agreement for the maintenance, repair and overhaul of the engines. The agreements are worth up to $1.5 billion. “The GP7200 engines, provided by the
More
Gold prices rallied to record highs on Tuesday against a backdrop of a weaker dollar, ongoing investor worries over inflation and euro zone debt and unrest in the Middle East, while silver touched fresh 31-year peaks. Spot gold rose by 0.6 percent on the day to a record $1,458.80 an ounce by 0910 GMT. Silver
More
The International Conference GLOBAL RUSSIA BUSINESS MEETING 2011 will be organized in Cyprus by the Horasis Global Visions Community Organization on 10th and 11th of April. The conference will be held in Limassol, on the southern coast, under the auspices of the President of the Republic Demetris Christofias and hosted by the Republic and the
More
In the dry wording of prosecution documents, sex parties at Italian Prime Minister Silvio Berlusconi's palatial villa followed a well scripted routine drawing in erotic dancers and underage prostitutes. First, as judges will hear when Berlusconi faces trial on Wednesday, came dinner; a meal often composed of foods in the red, white and green
More
* Christofias unleashes fresh attack on Central Bank Governor * Cyprus President Demetris Christofias unleashed a fresh attack on Central Bank Governor Athanassios Orphanides, blaming him for not controlling the Cypriot banks that invested heavily in Greece which subsequently caused rating agencies to downgrade the island’s sovereign credit ratings. The president, his Akel party General Secretary
More
* Underage prostitution case to open after months of scandal * Berlusconi denies charges, says targeted by magistrates * Approval hit but premier resists calls to resign Milan judges open one of the most sensational trials in recent Italian history on Wednesday when they begin hearings into charges that Prime Minister Silvio Berlusconi paid a
More
DEATH TOLL * A total of 12,431 people were confirmed dead by Japan's National Police Agency as of 8 p.m. (1100 GMT) on Tuesday, while 15,153 were missing. NUMBER OF PEOPLE EVACUATED * More than 163,000 people were in shelters around the country as of 1100 GMT on Tuesday following evacuation, the National Police Agency
More
The yen fell as the Bank of Japan began a meeting on Wednesday that may signal its readiness to further loosen monetary policy to support the earthquake-hit economy while Asian stocks were muted after an interest rate rise in China. Brent crude oil hovered below a two-and-a-half year high struck amid war in Libya and
More
A tanker arrived at an east Libyan port on Tuesday to load the first crude cargo since unrest shut down exports in early March, with mystery surrounding the potential buyer of oil from the rebel-held territory. AIS live ship tracking data on Reuters showed the Liberian-registered tanker Equator, which can carry up to 1 mln
More