Egypt's NBE, EIB sign investment grant deal to support green industry drive    Sisi launches new support initiative for families of war, terrorism victims    EGX plunges on Sunday    Egypt's Al-Sisi, IFC Managing Director discuss boosting private sector investment    Scatec signs power purchase deal for 900 MW wind project in Egypt's Ras Shukeir    Egypt's President stresses need to halt military actions in call with Cypriot counterpart    Egypt's GAH, Spain's Konecta discuss digital health partnership    CBE Deputy Governor attends ceremony appointing DPI as new manager of 'Nclude'    Gold surges 3.7% amid escalating Middle East tensions: Gold Bullion    Environment Minister chairs closing session on Mediterranean Sea protection at UN Ocean Conference    Egypt deploys over 2,400 ambulances to support high school exams nationwide    Egypt nuclear authority: No radiation rise amid regional unrest    Grand Egyptian Museum opening delayed to Q4    Egypt delays Grand Museum opening to Q4 amid regional tensions    Egypt's Foreign Minister condemns Israeli strikes in calls with European, Iraqi counterparts    Trump faces MAGA backlash as Israel-Iran conflict tests non-interventionist promise    Egypt slams Israeli strike on Iran, warns of regional chaos    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's EDA joins high-level Africa-Europe medicines regulatory talks    US Senate clears over $3b in arms sales to Qatar, UAE    Egypt discusses urgent population, development plan with WB    Egypt reaffirms commitment to ocean conservation at UN conference    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Egypt, Serbia explore cultural cooperation in heritage, tourism    Egypt discovers three New Kingdom tombs in Luxor's Dra' Abu El-Naga    Egypt launches "Memory of the City" app to document urban history    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Standard & Poor's downgrades Nokia credit rating
Financial ratings agency downgrades its credit rating on mobile phone company Nokia on lower than expected device sales
AP Published in Ahram Online on 02 - 08 - 2011

Standard and Poor's has downgraded its credit rating on Finnish mobile phone company Nokia partly because of lower than expected device sales in the second quarter.
The financial ratings agency says it is lowering its long-term rating on Nokia to BBB from BBB+ "and affirming our A-2 short-term rating," with a negative outlook.
Last month, Nokia reported a €368 million (US$523 million) loss in the second quarter as it continues to give up ground to its top rivals.
Nokia Corp. shares were 2 per cent lower in Tuesday afternoon trading on the Helsinki Stock Exchange, at €3.80 ($5.38).

Clic here to read the story from its source.