S&P reaffirms Japan's sovereign debt rating at AA minusFebruary 20, 2012 - 11:49 AMT PanARMENIAN.Net - Standard and Poor's reaffirmed its rating on Japan's sovereign debt at AA minus and kept its outlook negative on Monday, Feb 20, saying that structural problems such as shrinking nominal gross domestic product and increasing social security costs are weighing on the country's ability to reduce its budget deficit, Reuters reported. S&P cut France's and Austria's top ratings and downgraded seven other euro zone nations last month. It also cut the euro zone's bailout fund by one notch. Moody's also cut the ratings of six European nations including Italy, Spain and Portugal and warned it could strip France, Britain and Austria of their top-level AAA grade. Besides, the agency downgraded the insurance financial strength ratings (IFSR) by one or two notches of several insurance companies, which it said related to their investment and operating exposures to Spain and Italy. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Court in Azerbaijan extends former Karabakh leader’s arrest by 5 months The Binagadi District Court in Azerbaijan has granted the prosecutor’s petition to extend the arrest of Arkady Ghukasyan. Ucom General Director joins High-Tech Development Panel Discussion The discussion was titled "The Role of International Corporations and Investors as Catalysts for Development of High-Tech Ecosystem." U.S. still believes “peace is possible” between Armenia, Azerbaijan The United States continues to believe that peace is possible between Armenia and Azerbaijan, Vedant Patel says. Dozens detained as antigovernment protest continue in Armenia At least 63 people demanding Prime Minister Nikol Pashinyan’s resignation were detained on May 14 as they blocked streets in Yerevan. |