BAHRAIN ON RIGHT TRACK.MANAMA Manama Arabic Al-Manamah City (pop., 2001: 143,035), capital of Bahrain. Situated at the northeastern tip of Bahrain island, it is Bahrain's largest city, with about one-fifth of the emirate's population. : One of the world's top financial ratings agencies yesterday issued a glowing report on Bahrain's economic prospects. Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. says that despite having to deal with the impact of a lower oil price and global recession and financial stress, Bahrain ('A'/Stable Outlook) can continue to meet the economic challenges it faces and finance wider fiscal deficits in 2009-2010 without causing undue strain on its debt ratios. The need for capital infusions Capital infusion Often refers to the cross-subsidization of divisions within a firm. When one division is not doing well, it might benefit from an infusion of new funds from the more successful divisions. from the sovereign to domestic retail banks is also thought unlikely. The report follows the affirmation A solemn and formal declaration of the truth of a statement, such as an Affidavit or the actual or prospective testimony of a witness or a party that takes the place of an oath. An affirmation is also used when a person cannot take an oath because of religious convictions. of Bahrain's sovereign ratings on May 28. The report, entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: 'Bahrain's Public Finances and Banking Sector' is available at www.fitchratings.com. The report draws on another recent report from Fitch's Financial Institutions Group entitled 'Bahraini Banks: Annual Review and Outlook' dated May 11. Copyright 2009 Gulf Daily News Provided by Syndigate.info an Albawaba.com company |
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