Day: October 22, 2022

The UK’s economic outlook has been lowered to “negative” by ratings agency Moody’s due to political instability and high inflation.

Moody’s changed the UK’s outlook – which is a marker of how likely it is to pay back debts – from “stable”, according to BBC.

Rating agencies, in essence, rate a country on the strength of its economy.

Moody’s along with another of the big credit rating agencies Standard & Poor’s (S&P) maintained their assessments of the UK’s credit rating.

Rating agencies give governments (or large companies) a score on how likely they are to pay back their debt.

The rating affects how much it costs governments to borrow money in the international financial markets. In theory, a high credit rating means a lower interest rate (and vice versa).

Moody’s said there were “risks to the UK’s debt affordability”, but kept its rating of Aa3, the fourth-highest level on its scale.

SOURCE: JORDAN NEWS AGENCY

Eleven Jordanian companies specialized in the food processing field concluded their participation in the SIAL Paris 2022 trade show, which was held in the French capital, Paris, at the Jordanian pavilion organized by the Jordan Exporters Association (JEA).

According to a JEA statement on Saturday, representatives of the Jordanian industrial companies described their participation in the exhibition as “successful and important,” which contributed to promoting the Kingdom’s products and opening new markets by making understandings concluded with many traders and suppliers wishing to import Jordanian products.

Jordan’s pavilion participating in SIAL Paris 2022 witnessed a “remarkable” turnout and attendance by traders and visitors from different countries of the world, they noted, stressing the importance of foreign exhibitions, which are an “important” commercial platform for marketing Jordan’s food products and reviewing the latest developments and technology used in the food manufacturing field.

Speaking to “Petra,” JEA Director General, Halim Abu Rahma, said Jordan’s participation in SIAL Paris 2022 contributed to promoting national products and opening new markets for them, especially in African countries due to the presence of African traders in large numbers.

Abu Rahma described Jordanian participation in the exhibition as “successful and fruitful” and opened the way for Jordanian products to enter French market and European countries.

JEA will continue to provide services to industrialists from various sectors to find export markets for their products, he noted.

Established in 1988, JEA seeks to support export of industrial sector products and services, promote Jordanian products in various global markets, participate in foreign exhibitions, and hold specialized seminars and dialogues.

SOURCE: JORDAN NEWS AGENCY