S&P slashes South Africa rating further into 'junk'
agency S&P Global
Washington - Egypt Today
S&P Global Ratings lowered South Africa's credit rating further into "junk" territory on Friday, citing the country's deteriorating public finances and weak economic growth outlook.
S&P dropped South Africa long-term foreign currency sovereign rating to "BB" after having placed it higher in the speculative category at "BB+" in April.
"Weak GDP growth has led to further deterioration of South Africa's public finances beyond our previous expectations," S&P said.
"We think the government will attempt to introduce offsetting measures in an effort to improve budgetary outcomes, but these may not be strong enough to stabilise public finances, and may weaken economic growth further in the near term."
- Tuesday ,30 October GMT 08:52 2018 Trump says he expects ‘great deal’ with China, but more tariffs if not
GMT 07:28 2018 Monday ,03 December
China agrees to ‘reduce and remove’ tariffs on US cars: TrumpGMT 08:52 2018 Tuesday ,30 October
Trump says he expects ‘great deal’ with China, but more tariffs if notGMT 13:44 2018 Thursday ,11 October
IMF head says Pakistan help must be transparentGMT 06:42 2018 Sunday ,30 September
China manufacturing weakens amid US tariff battleGMT 12:32 2018 Friday ,07 September
Asia shares hit 14-mth lows, yen advances on trade jittersRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launc...Read More
GMT 16:53 2015 Friday ,23 January
Kuwait in mourning over the demise of King Abdullah of Saudi Arabia
GMT 17:41 2018 Thursday ,06 December
Israeli forces halt construction of school facility in Nablus
GMT 12:29 2017 Monday ,28 August
30,000 expected in shelters following storm Harvey
GMT 13:29 2018 Friday ,14 December
Turkey targets military over alleged Gulen links
GMT 12:30 2018 Friday ,14 December
Noriaki Kasai: 30 years of World Cup ski-jumping
GMT 14:23 2018 Friday ,14 December
China to suspend US car tariffs in sign of easing trade tension
GMT 09:06 2024 Thursday ,08 February
Meghan presents fashion award to wedding dress designer Waight Keller
GMT 15:18 2018 Friday ,19 January
Giant pandas arrive in Finland in Chinese charm offensive
GMT 12:02 2018 Wednesday ,17 January
Federer urges players not to act like 'robots'
GMT 11:24 2017 Tuesday ,05 December
Nissan to begin field tests for 'robo-taxis' in Japan
GMT 12:45 2018 Tuesday ,11 December
French Minister refuses to present award to Palestinian NGO
GMT 19:17 2015 Friday ,16 January
Weak world economies continue to restrain oil demand growthGMT 11:43 2013 Tuesday ,07 May
Poet Shihab Ghanem awarded \'Tagore Peace Award\'
GMT 21:22 2017 Monday ,06 March
Will Smith visits Egyptian Museum and takes selfie with King Tut mask
GMT 04:13 2017 Friday ,10 March
Georgian Parliament Speaker Meets Qatar's AmbassadorGMT 11:39 2011 Tuesday ,20 December
Egyptian chic on \'Latest fashion\'
GMT 10:44 2017 Monday ,27 November
Rapist, killer of 11-year-old Pakistani boy in Abu Dhabi
GMT 10:00 2017 Sunday ,26 February
Study tries brain scans to better predict adolescents' problem drug use
GMT 15:06 2018 Friday ,30 November
Egypt, World Bank seek cooperation in solid waste recycling
GMT 20:06 2018 Thursday ,29 November
Abbas says Palestinian struggle to continue until rights are recognized
GMT 08:21 2018 Monday ,19 November
Russia expects new joint energy projects with Vietnam
GMT 12:56 2018 Sunday ,28 October
Four-nation Syria summit calls for lasting Idlib cease-fire
GMT 11:34 2018 Thursday ,11 October
Modern art, antiques on show at cube museum
GMT 07:15 2018 Thursday ,11 October
World Obesity Day: A growing number of Gulf youth are having bariatric surgery
GMT 10:15 2018 Tuesday ,02 October
Bahrain participates in French International Travel Market
GMT 11:30 2014 Friday ,03 January
Ariel Sharon\'s health was in \'slow, gradual\' declineGMT 10:14 2011 Friday ,23 September
Rita Heyster jailed for Carol Jarvis murder cover-upGMT 09:52 2012 Friday ,11 May
Stone-throwing chimp is back -- and this time it\'s personal
GMT 16:16 2017 Friday ,11 August
World's oldest man dead in Israel at 113: media
GMT 15:15 2014 Thursday ,16 October
Poet Mari Garcia debuts her creations in ‘De Mis Manos’
GMT 10:17 2013 Wednesday ,12 June
Syrian TV soap recreates Damascus in Gulf desert
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor