Illustration - Marseille

Illustration - Marseille

FRANCE. BOUCHES-DU-RHONE (13), SALON-DE-PROVENCE. BUFFERS USED FOR THE STAMPING OF THE MARSEILLE SOAP AT THE SAVONNERIE MARIUS FABRE Photo by Jean-Francois Rollinger/Only France/ABACAPRESS.COM

Risks to financial stability in Malaysia remain modest: Fitch Solutions

STORY: Risks to financial stability in Malaysia remain modest: Fitch Solutions DATELINE: April 18, 2023 LENGTH: 00:01:52 LOCATION: Kuala Lumpur CATEGORY: ECONOMY SHOTLIST: 1. various of Kuala Lumpur 2. various of Malaysian Central Bank and bank notes counting machine 3. various of container vessels at Port Klang, Selangor STORYLINE: Fitch Solutions said Monday it believes that downside risks to Malaysia's financial stability remain modest and that banks remain well-positioned to support financial intermediation, despite potential negative spillovers from banking stresses in the United States and Europe. The research house said in a statement that Malaysian banks on aggregate are likely to remain on a stable footing due to robust liquidity and capital buffers, as well as a much less restrictive monetary environment. It said Malaysian banks asset quality has also remained fairly stable despite the phasing out of support measures, and it is not expecting a significant deterioration in the months ahead. Fit

Moody's downgrades Egypt's ratings to B3, changes outlook to stable

STORY: Moody's downgrades Egypt's ratings to B3, changes outlook to stable DATELINE: Feb. 9, 2023 LENGTH: 00:00:46 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the central bank of Egypt 2. various of vessels in Egypt 3. various of a fuel station in Egypt STORYLINE: Moody's Investors Service lowered Egypt's long-term foreign-currency and local-currency issuer ratings to B3 from B2. In its ranking report published on Tuesday, Moody's also changed outlook to "stable from negative." The report cited that the downgrade to B3 reflects Egypt's reduced external buffers and shock absorption capacity while the economy undergoes a structural change toward a more export- and private sector-led growth model under a flexible exchange rate regime. The International Monetary Fund (IMF) approved a three-billion U.S. dollar financial support package to Egypt in December 2023 amid a commitment to flexible currency and monetary reforms. Over the past year, the Egyptian currency had depreciated by nearly 50 pe

Manchester Docks 1960

Manchester Docks 1960

A view toward Manchester Docks past a flat railway wagon. photograph by Shirley Baker Date: 1960