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GULF COOPERATION COUNCIL
* Fitch Ratings downgraded the viability ratings of United Arab Emirates-based lenders Al Hilal Bank PJSC, National Bank of Ras Al Khaimah PSC, and Bank of Sharjah PJSC and upgraded that of Noor Bank PJSC. Separately, Fitch affirmed Commercial Bank International PSC's BBB+/F2 long- and short-term issuer default ratings, with a stable outlook on the long-term rating.
* Alinma Tokio Marine Co. secured the Saudi Arabian Monetary Authority's approval to renew its insurance activities license for three years, Argaam reported.
REST OF MIDDLE EAST AND NORTH AFRICA
* The IMF has called on Egypt's central bank to maintain its tight monetary policy to ward off risks to inflation resulting from secondround effects of fuel and electricity price increases, Reuters noted.
* The European Investment Bank is to inject [euro]10 million in the first investment fund of the Egypt-based private equity firm Sawaris Ventures, which operates in North Africa and the Middle East, Agence Ecofin wrote.
* Moody's said the stable outlook on Lebanon's banking system reflects its expectation of a modest pick-up in the country's economic activity and continued inflows of foreign deposits. The agency, however, noted that potential negative political developments affecting the pace of economic reform and depositor confidence are a key risk.
* S&P Global Ratings affirmed Bank Audi SAL's B-/B long- and short-term issuer credit ratings. The outlook on the long-term rating is stable.
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