Gulf states’ dollar peg has served the region well and inflationary pressures haven’t returned, John Lipsky (pictured), the International Monetary Fund’s first deputy managing director, said.
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| Qatar’s $7bn bond likely to trigger more debt issues |
| Qatar’s $7bn sovereign bond this week is likely to trigger further debt issuance from companies in the gas-rich state, as bank lending remains tight and the need for capital increases, a senior Credit Suisse executive said. |
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| Arab stocks lackluster |
| Most of Arab stock markets extended losses this week ahead of Eid al-Adha festivities due to start on Friday, financial analysts yesterday said.
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| Europe, Asia markets slide |
| European stock markets ended the week in negative territory yesterday in lacklustre trading and in line with a weaker opening on Wall Street, where sentiment was dampened by disappointing results from computer maker Dell.
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| US state sues Moody’s, S&P, Fitch for ‘inflated ratings’ |
| Ohio’s attorney general sued the three largest credit rating agencies yesterday, saying their pursuit of profit and ties to Wall Street resulted in inflated ratings on toxic mortgage debt, costing state pension funds hundreds of millions of dollars. |
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| Asia airlines stem decline |
| Asia’s airline industry is pulling out of a slump sparked by the global recession with signs passenger numbers are rising, a regional body said yesterday, but there were warnings a rebound will be slow. |
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| Japan urges Qatar to buy Mitsubishi jet |
| Japan has urged Qatar to place an order for the Mitsubishi Regional Jet, making the case at a bilateral meeting of economic ministers held in Tokyo, the Nikkei reported yesterday. |
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| ‘9,000 aircraft needed’ |
| Asia-Pacific is tipped to become the world’s biggest aircraft market in the next 20 years as the regional airlines may buy almost 9,000 aircraft worth $1.1tn, a Boeing official said. |
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