Fitch confirms Russia’s ‘BBB-‘ investment rating
The international credit rating agency Fitch has given Russia the lowest possible investment grade, a BBB-, Rosbalt reported. Fitch also gave Russia a negative growth outlook. “In line with the updated guidance contained in Fitch’s revised Sovereign Rating Criteria dated July 18, 2016, Russia’s credit profile does not support a notching up… This reflects Fitch’s view that neither of the two key factors...
Climate Tipping Points: What Do They Mean For Society?
The phrase “tipping point” passed its own tipping point and caught fire after author Malcolm Gladwell’s so-named 2000 book. It’s now frequently used in discussions about climate change, but what are “climate tipping points”? And what do they mean for society and the economy? Scientists at Rutgers University and Harvard University tackle the terminology and outline a strategy for investigating the consequences of climate tipping points...
Kremlin: Some oil privatization by year’s end
Privatization of Russian oil production and maritime shipping companies could be completed before the end of the year, a deputy minister said Monday (July 11). The Kremlin has been reviewing privatization options as the Russian economy risks lingering in recession because of the strains brought on by Western sanctions and low crude oil prices. Privatizing state oil company Rosneft could bring in up to $6.5 billion to a federal budget...
The Post-Brexit World: How Should East Asian Finance Cope?
The post-Brexit world is now bracing for the immediate effects on financial markets, including in East Asia. More enhanced macroeconomic policy coordination is needed. Yet, a strong political will is required for successful joint effort. Author: Kaewkamol Pitakdumrongkit* After much heated debate, Brexit has become a reality. The United Kingdom has voted in a referendum to leave the European Union (EU). No one knows for sure in the...
Iran govt says inflation rate falls below 10% for first time in 25 years
A government spokesman in an address to Iran’s parliament, the Majlis, announced that the country’s month-on-month (m/m) inflation rate has officially fallen below the 10% level for the first time in 25 years. Mohammad Baqer Nobakht made the announcement to the Iran’s recently convened parliament to prove that President Hassan Rouhani’s economic policies are beginning to make an impact on the economy and people’s lives. His statement...
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