Standard & Poors Ratings Services lowered its long-term sovereign credit rating on the Socialist Peoples Libyan Arab Jamahiriya (Libya) to BBB+ from A-.
Libya's long-term ratings lowered on elevated political risk
Technology
Egypt's industry leaders promise not to lay off workers in the industry sector
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A meeting held by the Minister of Trade and Industry, Dr. Samiha Fawzy, and the Federation of Egyptian Industries (FEI), which represents all the industrial sectors in Egypt, agreed to a number of guarantees for Egyptian workers in the industrial sector.
Kingdom of Bahrain ratings lowered on heightened political risk
Standard & Poors Ratings Services lowered its long- and short-term sovereign credit ratings on the Kingdom of Bahrain (Bahrain or the Kingdom) to A-/A-2 from A/A-1 and placed them on CreditWatch with negative implications.
Raysut Cement Company net profits drop
Raysut Cement Company announced that it saw a 27.7 per cent fall in net profit at US$53.8mn for last year, due in part to a big fall in sales.
Lack of skills remain a challenge
A new study has shown that a lack of skills is the biggest challenge CIOs in the GCC face, both internally as well as within their partner ecosystem, when it comes to increasing investment in IT security and storage.
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