Moody\'s downgrades Egypt, on review for further downgrade
Cairo - Agencies
Moody's Investors Service on Wednesday said it downgraded Egypt's government bond ratings by one notch to B2 from B1, citing the unsettled political situation in the country for undermining investor confidence. Moody's also said Egypt's government bond ratings were on review for further downgrade, and said it believes that without financial support the central bank of Egypt will find it increasingly difficult to maintain adequate international liquidity in the months or years ahead. The ratings agency said pressure on Egypt's balance of payments from domestic political turmoil will be further compounded by the economic downturn in Europe.
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Beirut - NNA
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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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