Moody's upgrades Turkey's credit ratingJune 20, 2012 - 11:31 AMT PanARMENIAN.Net - The international rating agency Moody's upgraded Turkey's credit rating Wednesday, June 20, maintaining the positive outlook as stable, according to Hürriyet Daily News. Turkey's previous Ba2 credit was raised to Ba1, which still defines Turkey as "judged to be speculative and subject to credit risk." Another rating agency Standards & Poor's had downgraded Turkey's credit ratings from positive to stable, prompting a heated response from Prime Minister Recey Tayyip Erdoğan, who threatened to cut all relations to the agency and heavily criticized its view of the Turkish economy. 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 | Get Started: An educational platform for young startuppers The Get Started program which operates in two phases is an important platform for young startuppers. Byblos Bank Armenia celebrates Students' Day with scholarship recipients YSU students who received scholarships from Byblos Bank Armenia gathered in a casual setting to meet with the Bank's CEO, Hayk Stepanyan. Azerbaijan extends Rune Vardanyan’s arrest by 5 months A court in Azerbaijan has extended the arrest of former Nagorno-Karabakh leader Ruben Vardanyan by five months. Armenia border residents dissatisfied with delimitation Residents Kirants are dissatisfied with the results of the delimitation of the border between Armenia and Azerbaijan. |