Standard & Poor's downgrades Cyprus into junk statusDecember 21, 2012 - 16:38 AMT PanARMENIAN.Net - Ratings agency Standard & Poor's has downgraded Cyprus further into junk status amid concerns that the country could default on its debts, Belfast Telegraph reported. It said the two-notch downgrade to CCC+ is due to a "considerable and rising" risk that the country, one of the 17 EU countries that uses the euro, may default. It also maintains its negative outlook on the country, meaning further downgrades are possible. S&P said it went ahead with the downgrade because the Cypriot government is running out of money while uncertainty remains over the terms of a bailout it is trying to negotiate with international lenders to salvage its banks that are heavily exposed to debt-crushed Greece. 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 | Ucom’s fixed network launches in Nor Hachn City residents will be able to use fixed-line Internet, mobile communications and television in one package at more affordable prices. About 173 million drams and more than 30 beneficiary funds. "The Power of One Dram" is 4 years old In June 2020, the exclusive joint corporate social responsibility initiative of Idram and IDBank "The Power of One Dram" was launched. Aliyev travels to Turkey at Erdogan's invitation On June 10, Azerbaijani President of Azerbaijan Ilham Aliyev will leave for Turkey on a working visit. CSTO budget “to be adjusted due to Yerevan’s non-payment of contributions” The CSTO budget for the current year requires adjustments due to the refusal of Yerevan to pay their share of contributions. |