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Spain's Rating Cut: New Euro Lows
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On Tuesday one of the largest analytical agencies Egan-Jones lowered the credit rating of Spain for the third time to �BB-�. Investors fear that the rating of the country will soon be reduced by three influential international rating agencies: S&P, Moody�s and Fitch. Such a situation already occurred in April.


Experts say the country�s economy is sinking into recession. Moreover, Spain is suffering from the budget deficit and enormous public debt, as a result, the national banking sector is being underfinanced.


On Friday the authorities of Spain announced the plans to financially support a troubled bank, Bankia. So, market participants doubt whether Spain will follow the path of Greece or not.


Consequently, the single European currency is sliding. The euro reached new highs versus the US dollar, having fallen by 100 points to the level of 1 US dollar and 24.8 cent on Tuesday.


Demand for the euro shrank. The single European currency will be under pressure until the Eurozone crisis unwinds.

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The United Arab Emirates seem to be a land where nothing is impossible with its capital city Abu Dhabi being a place of dreamlike fantasies. Glassy skyscrapers and futuristic buildings in the midst of Arabian dessert boggle imagination. And it is hard to believe that half a century back this one of the world’s richest cities called "Arabian Manhattan" did not even know about electricity and water pipe. Today, firmly high oil price which has become a component of UAE economic blossom can become a recipe for success of every trader. Abu Dhabi which is one of the major financial centers in the world holds annual prestigious exhibitions and conferences. In 2011 at the annual event «Forex&Investment Summit» the world-wide known broker InstaForex picked up the "Best Retail Forex Broker" award.
Dr. Rakesh S. Rajangam, Doctor at Newcastle University: "Important aspects in HR management" (ShowFx World Exhibition in Singapore)
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