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The World Bank said on Thursday that its International Development Association unit, funded entirely by donor countries since its founding in 1960, now would be able to leverage its balance sheet and boost lending for clean water and energy projects, public health programs and aid to refugees.
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"After the decision by the UK electorate to leave the EU as a consequence of the June 23 consultative referendum, we have reassessed our opinion of cohesion within the EU, which we now consider to be a neutral rather than positive rating factor," the agency said in a statement.
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"The government will continue to take necessary reforms measures to improve the state of the economy and also to strengthen the inherent stability factor in our economy."
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The core consumer price index (CPI), which excludes volatile prices of fresh food but includes prices of oil products, was flat in July from the year-ago period, government data showed on Friday, compared with Reuters' forecast for a drop of 0.2 percent and down from a 0.1 percent rise in June.
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Global rating agency Standard and Poor's expects a stable trend in sovereign credit rating in Asia-Pacific nations, including India, despite growing economic uncertainties
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Capital spending in India is likely to take 12 more months to start recovering as private companies have adopted a 'Wait-And-See' approach, says a report by global ratings agency Standard and Poor's.
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Gross domestic product grew an annualized 2.2 percent, helped by a rebound in exports, but the figure missed a Reuters poll expecting a 3.7 percent gain. Quarter on quarter growth was 0.6 percent, lower than the 0.9 percent consensus.
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BNP Paribas estimates that if oil stays around USD 80 a barrel for the next few years, producers in the Gulf, Russia, Latin American and Africa could see their ratings cut by between half a notch and two notches - far more if it sinks to USD 60.
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S&P lowered IDBI's foreign currency issuer credit rating to "BB-plus/B" from "BBB-minus/A-3." The outlook is "negative."
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Around the region, household debt levels are high, with household-debt-to-gross domestic product at 81 percent in Malaysia, at least 77 percent in Thailand, at 77 percent in Singapore and 75 percent in Korea.
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Jason Furman, chairman of the White House Council of Economic Advisers, said the shutdown and threat of default lowered sales, steel production and the number of mortgage applications filed.
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Detroit officials hope the bruising bankruptcy battle ahead of them will be rewarded with the birth of a leaner, more efficient and ultimately prosperous Motown.
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India's current account deficit (CAD) for 2012-13 is likely to be less than 5 per cent of the Gross Domestic Product (GDP), a top Finance Ministry official said today.
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Rating agency Standard and Poor's (S&P) today ruled out rating upgrade of India anytime soon. S&P warn that reform announcements recently made by the government did not suffice to ensure growth.
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India today exuded confidence that global agencies will upgrade the country's sovereign rating in the backdrop of bold and tough decisions taken by government to contain fiscal deficit and promote growth.
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Standard & Poor's (S&P) today said there are negative implications on Vedanta Resources's long- term credit rating due to slow progress in re-financing the debt of the London-listed mining major.
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Digvijaya Singh, the Congress party's loquacious general secretary, occasionally stumbles on a truth that would have been obvious ages ago to everyone else.
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India needs good rating from global credit rating agencies to help bolster foreign capital flows into the country, Union Finance Ministry advisor Parthasarathi Shome said today.
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Standard and Poor's has hired John Keker, one of the country's top white-collar defense attorneys, to help fight a USD 5 billion lawsuit brought by the US government this week.
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Rating agency Standard and Poor's today downgraded Egypt's long-term credit rating because of "elevated" tensions over its political crisis, and warned it could be lowered further.
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Global rating agency Standard and Poor's (S&P) has said it expects India to grow by 6.5 per cent during 2013, amidst the possibility of global economic recovery continuing during the year.
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Dismissing fears of a rating downgrade, Indian finance minister P Chidambaram on Thursday said the government will announce a host of reform initiatives in the next two years to spur growth momentum.
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Bruno Verstrate, CEO of Lakefield Partners feels it is now a test of the newly constituted European Stability Mechanism (ESM) and the European markets will be seeing how it can help Spain.
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Rating agency Standard and Poor's (S&P) said there is a significant chance of cutting India's credit rating in the future.
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Ratings agency Standard and Poor's (S&P) has affirmed non-investment grade rating to London Stock Exchange-listed Vedanta Resources and has cut its outlook to negative.
