S&P revises Cyprus outlook to stable from negative April 11, 2013 - 15:00 AMT PanARMENIAN.Net - Standard & Poor's Ratings Services on Wednesday, April 10 revised its outlook on Cyprus to stable from negative because it expects the troubled government to agree to the terms of a bailout, Reuters reported. S&P rates the troubled Greek island's rating to CCC. According to a draft assessment of Cypriot financing needs prepared by the European Commission, Cyprus plans to raise 10.6 billion euros from winding down Laiki Bank, losses to junior bondholders, and a deposit-for-equity swap for uninsured deposits in the Bank of Cyprus. It also plans to sell 400 million euros' worth of reserves to finance part of its bailout.   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 |  Latest 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. |
