The upgrade of the credit rating of the Republic of Cyprus by one notch, from “BBB-” to “BBB” was announced by the relevant decision published last night, Friday, September 2, 2022, by the international credit rating agency Standard & Poor’s, which determined the outlook of the Cypriot Economy as stable. Standard & Poor’s justifies its […]
Tag: International financial news
Egypt’s economic needs increase the urgency of a deal with the IMF
Egypt’s struggle to win back investors in local debt is increasing the urgency of the government’s deal with the International Monetary Fund. With external capital markets almost closed, the lack of demand has shut down one of the main sources of funding it has left at home. Sales of local currency bonds fell 38 percent […]
Welt: The day after the Nord Stream shut down in Germany
It is not certain when gas will flow through Nord Stream 1 again, Welt notes. But Germany is braced for a disruption, authorities and the government say. And storage facilities should also continue to fill up. It is recalled that three days of maintenance work were announced, after which natural gas was supposed to flow […]
Welt: The natural gas levy imposed by the German Ministry of Economics is full of mistakes
Economy Minister Robert Habeck’s gas levy is riddled with errors, according to Welt am Sonntag, which has information showing interest groups were very active in creating the regulation. On the other hand, according to the same publication, important objections of representatives of natural gas customers were not taken into account. During the creation of the […]
USA: The Biden administration is considering limiting US investment in Chinese technology
The Biden administration is considering moves to curb U.S. investment in Chinese tech companies amid rising tensions between the U.S. and China, according to people with knowledge of the matter, cited by Bloomberg. The investment restrictions will likely come as an executive order signed by President Joe Biden in the coming months. A separate action […]
Kyiv says it is ‘ready’ to expand its energy exports to Germany
Ukraine wants to support Germany on its path to independence from Russian energy supplies by providing nuclear power. “Currently, Ukraine exports its electricity to Moldova, Romania, Slovakia and Poland. But we are quite ready to expand our exports to Germany,” Ukrainian Prime Minister Denys Shmyhal told the German news agency. “We have a sufficient amount […]
EU: The Commission intends to present a new instrument that will protect the internal market in the event of a crisis
Brussels is to present by mid-September the draft of a new instrument, the aim of which will be to protect the EU’s internal market in the event of a crisis and, if necessary, to force producers of strategic products to serve Europe as a priority. If there are shortages of critical goods, Brussels will be […]
Paris Club Says Ready to Start Sri Lanka’s Debt Relief Process
Ready to start the debt relief process for Sri Lanka, the Paris Club said on Friday, according to Reuters. It also noted its willingness to coordinate with the lenders of the Asian country that are not members of the Club, in order to provide the necessary financial guarantees in a short time, according to a […]
Gazprom completely stopped the flow of natural gas in Nord Stream – ‘Discovered’ a technical problem
LAST UPDATE: 21.09 The Russian state energy giant Gazprom announced that the Nord Stream 1 natural gas pipeline, which connects Russia to Germany, cannot restart as planned on Saturday, as a new technical problem was discovered, Bloomberg reported. It is a major blow to Europe, which is trying to fill its natural gas reserves ahead […]
Ireland: Corporation tax revenue surges in August – Country on track to achieve budget surplus
Ireland collected about twice as much revenue from corporate taxes as projected, data showed on Friday, further bolstering a government budget surplus that the government in Dublin plans to use to help businesses and consumers deal with the energy crisis. Taxes paid by businesses in the country, mainly large multinationals attracted by the country’s particularly […]