S&P

The Greek Parliament's approval of the Hercules asset protection scheme should accelerate Greek banks' sales of nonperforming loans (NPLs) and bring exposure down further, to 20 percent, within the next two years, S&P Global Ratings said in a report published late on Thursday.

Asian shares skidded on April 21 after U.S. oil futures plunged below zero with storage for crude nearly full as demand collapses due to the pandemic.

Shares fell in Tokyo, Hong Kong and Shanghai and New York stock futures retreated after the S&P 500 sank 1.8% overnight, giving up some big gains from last week.

The new pensions law is the main factor causing the rapid increase in the general government deficit up to 6.1 percent of the GDP in 2021, and the high fiscal sustainability risks, the European Commission estimated in the Country Report for Romania published on Wednesday.

Brussels — US company AES remains committed to its Bulgarian power assets as it deals with changes in market structure, in its generation agreements and in air quality controls, the president of AES Bulgaria, Olivier Marquette, told S&P Global Platts in an interview.

Standard and Poor?s warned on Wednesday it might downgrade the credit ratings of Bulgaria, the Former Yugoslav Republic of Macedonia, Albania, Romania and Serbia if the troubles of Greece spill over into their banking systems.

Standard and Poor’s lowered its long-term sovereign credit rating for Greece to CCC from CCC+, warning that the Greek government would likely default on its commercial debt over the next 12 months if no deal is reached with institutional creditors.

The outlook on Greece remained negative, S&P reported, while the short-term credit rating was unchanged.

The decision of credit rating agency (CRA) Standard and Poor?s to downgrade its local currency ratings on Turkey on the evening of May 8 made me wish Admiral Zafer ?Patek Philippe? Ça?layan was still the Economy Minister.

Following the announcement of S&P lowering the long-term sovereign credit rating for Greece to B-, markets posted an immediate negative reaction.

More specifically, Dow Jones dropped by 0.31% at 17.829 units, while S&P 500 noted a -2.21% decrease at 2.058 units.

At the same time the Euro fell by 1.4% against the dollar.

BELGRADE - Growth is conditioned by a consistent and predictable economic policy, currency stability, low inflation and optimal business environment, and this has made the Czech Republic one of the fastest growing economies in the European Union, Czech Prime Minister Bohuslav Sobotka said in an exclusive opinion piece for Tanjug ahead of the Third Meeting of Heads of Government of China and Cen

After posting unexpectedly high growth (3.67 percent) on Friday, the Greek benchmark headed south on Monday, as investors were not convinced by the FTSE decision to allow the local market to keep its developed label (for now), given that it had been demoted to emerging status by MSCI and S&P Dow Jones.