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Morocco’s King chairs religious ceremony in memory of late Hassan II

King Mohammed VI, Commander of the Faithful chaired, on Friday at the Mohammed V Mausoleum in Rabat, a religious ceremony in commemoration of the 24th anniversary of the passing away of late King Hassan II. The religious ceremony was marked by the recitation of verses of the Holy Quran and the declamation of panegyrics of […]

Fitch downgrades four Egyptian banks’ Issuer Default Ratings to “B”

Earlier this May, Fitch downgraded Egypt’s sovereign rating to “B” with a negative outlook. Three of the four banks, whose ratings it downgraded, are public banks exposed to the state. Rating agency Fitch downgraded on May 17 the credit ratings of four major Egyptian banks, namely The National Bank of Egypt (NBE), Banque Misr, Banque […]

Italy calls for urgent appointment of new UN Special Envoy for Libya

Italy’s top diplomat Luigi Di Maio has reiterated the need to appoint a new UN Special Envoy for Libya, which he deemed to be a “decisive step”, Libya Update reports. Di Maio sounded the alarm in a testimony before the chamber of deputies arguing that “the appointment of a strong UN envoy allows for firm […]