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ASIA:
NATO leaders warned on Monday that China presents “systemic challenges,” taking a forceful stance towards Beijing in a communique at Joe Biden’s first summit with an alliance that Donald Trump openly disparaged. The new U.S. president has urged his fellow NATO leaders to stand up to China’s authoritarianism and growing military might, a change of focus for an alliance created to defend Europe from the Soviet Union during the Cold War.
China has accused the United States of trying to sow discord in its relations with Europe and called on European nations not to tie themselves to the US strategy. China also vowed to take action against NATO, which labeled Beijing a challenge to the security alliance. ....

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Fitch affirms RAK's long-term foreign-currency IDR at 'A'


Fitch affirms RAK’s long-term foreign-currency IDR at A
Staff Reporter
© Provided by Khaleej Times
Fitch affirms RAK s long-term foreign-currency IDR at A
Global credit rating agency, Fitch, has affirmed Ras Al Khaimah (RAK s) Long-Term Foreign-Currency Issuer Default Rating (IDR) at A with a Stable Outlook, continuing the level of rating held by the emirate for 13 consecutive years.
The report cited that the rating was supported by the benefits of RAK s membership of the United Arab Emirates, (UAE, AA-/Stable), its low government debt burden, prudent fiscal management and high GDP per capita.
Contributing to the rating is RAK s diversified economy and its established manufacturing base, which provides 26 per cent of its GDP, which has allowed for a relatively lighter economic slowdown following the global Covid-19 outbreak. The emirate s continued fiscal prudence as cited by Fitch has consistently delivered budget surpluses in t ....

Ras Al Khaimah , Ras Al Khaymah , United Arab Emirates , Khaleej Times , Khaleej Times Fitch , Long Term Foreign Currency Issuer Default Rating , Stable Outlook , ராஸ் அல் கைமா , ஒன்றுபட்டது அரபு அமீரகங்கள் , காழீஜ் முறை , காழீஜ் முறை ஃபிட்ச் , நீண்டது கால வெளிநாட்டு நாணய வழங்குபவர் இயல்புநிலை ரேடிஂக் , நிலையான ஔட்‌லுக் ,