Middle East News

Fitch Ratings has affirmed the United Arab Emirates’ (UAE) Long-Term Issuer Default Ratings (IDRs) at ‘AA-‘ with a stable outlook, according to a rating note released by the agency. UAE’s ‘AA-‘ rating reflects low consolidated government debt, strong net external asset position and high GDP per capita.

The European Union (EU) and the Gulf Cooperation Council (GCC) have strongly condemned what they described as unjustifiable Iranian attacks on GCC countries, saying the action threatens regional stability and global security.

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