S&P lowers ratings on 15 Italian banks
Washington - AFP
Standard & Poor\'s on Friday cut the ratings on 15 Italian banks, but left ratings unchanged for market leaders UniCredit, Intesa Sanpaolo and Mediobanca. The agency said the ratings cuts -- which included Unione di Banche Italiane, better known as UBI -- reflected \"increased credit risk for the Italian economy and its banks.\" \"With Italy facing a potentially deeper and more prolonged recession than we had originally anticipated, we think Italian banks\' vulnerability to credit risk in the economy is rising,\" S&P said. The downgraded banks also included Banca Popolare dell\'Emilia Romagna and Banca Popolare di Vicenza.
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France's Carrefour revamps operations
Paris - Emiratesvoice
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Singer Bruni arrives in Beirut Sunday evening
Beirut - NNA
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Microsoft to open 4 data centres
Paris - Emiratesvoice
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Taipei - Emiratesvoice
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Paris - Emiratesvoice
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to 'eternal style' of late Alaia
Paris - Emiratesvoice
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opens Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led
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