• Spanish PM Pedro Sanchez supports Iraq’s sovereignty, stability

    "My country, always at the request of the Iraqi authorities, will support the unity, sovereignty and stability of Iraq," said Sanchez during a press conference with Iraqi Prime Minister Mohamed Shia al-Sudani. Spain has deployed more than 300 soldiers as part of an international anti-jihadist coalition and NATO's mission in...

  • Moody’s lowers Egypt rating to B3, changes outlook to stable

    Cairo, Egypt-- Moody's has lowered Egypt's sovereign rating by one notch to B3 from B2 on Tuesday, citing the country's reduced external buffers and shock absorption capacity. The agency changed its outlook for Egypt to stable from negative. "Moody's does not expect Egypt's liquidity and external positions to rebound quickly," the...

  • Israel no longer partner for peace, says Palestinian leader

    Israel is impeding progress toward a two-state solution and can no longer be considered a reliable partner in the peace process, Palestinian leader Mahmud Abbas told the United Nations. His remarks come a day after Israeli Prime Minister Yair Lapid said he supported a two-state solution, but Abbas said the...

  • Dubai establishes Debt Management Office for financing needs

    Dubai has announced the establishment of a Debt Management Office that would be responsible for government's financing requirements, managing the sovereign debt portfolio and setting strategic objectives and policies. It will also be responsible for pursuing risks to ensure government financial sustainability, as well as maintaining high levels of transparency...

  • Mubadala sells 4.5 percent Oil Search stake for $275m

    Abu Dhabi’s sovereign wealth fund Mubadala Investment Company has offloaded A$363 million ($274.82 million) share in Oil Search, which has major stakes in Papua New Guinea’s emerging liquefied natural gas (LNG) sector. Mubadala sold a 4.5 percent stake in Oil Search Ltd, the oil and gas producer said in a...

  • Kuwait sovereign fund loses gleam as politicians squabble over make-up of board

    The term of the board overseeing the fund expired two months ago This dispute is also delaying investment and economic reforms Kuwait’s has a mega sovereign fund worth some $600 billion, but lately it has been losing its shine as it has become a victim of vicious political confrontation between...