The possibility of more Western sanctions against Moscow is the key risk for the Russian economy, as much of 21 percent of which has already felt the impact of existing sanctions, Russia's Analytical Credit Ratings Agency said in a report on Tuesday.Western sanctions are expected to weigh on Russia's oil-dependent economy in the longer run, having dented incomes of Russian households, the Kremlin-backed ACRA said.The West first imposed economic and financial sanctions against Moscow in 2014 for its annexation of Crimea and its role in the Ukrainian conflict.Russia has responded with counter-sanctions, banning imports of a wide range of food from countries that had targeted Moscow. Later, sanctions against Russia were expanded, putting extra pressure on Russia's economy and the ruble."The risk of widening of anti-Russian sanctions remains one of the key risks that the Russian economy could face this year," ACRA said. New sanctions listed by ACRA might target more companies, Russian … [Read more...] about Russia’s Rating Agency Says More Sanctions Are Key Economic Risk
3 major credit reporting agencies
How good is your financial CV? Every adult has one but it’s not a CV you prepare. If it’s wrong it can kill your ability to get a cheap mortgage, 0% credit card, mobile phone contract, monthly car insurance, direct debit energy bill and more. You need to know what yours says. This CV is called your credit report or file. Lenders use it when you apply for anything resembling credit – even renting. There are three credit reference agencies, and each prepares its own report. Check at least one, and preferably all of them, every year. While you’ve a legal right to do this via official routes for £2, there are ways to check each instantly, for free (in the past you had to sign up for free trials, then cancel before the expensive monthly fee started). Experian is the UK’s biggest credit reference agency. Get a copy of its report via my free Credit Club at creditclub.com. Equifax is the other major agency, and you see it’s file if you join … [Read more...] about How to get your credit report into shape: Martin Lewis reveals all
IT'S the question many with adverse credit scores need to know, can you actually get a mortgage approved with bad credit? Here we run down the ways you can work on your credit score and what options are available to you. What is your credit score? One thing which confuses many people about credit rating is the score you are given if you check your rating. All three main credit agencies, Experian, Equifax and Call Credit, have different scoring systems AND there is no universal rating or score. The three companies have different scoring systems AND there is no universal rating or score. Experian will rate you on a scale of 0-999, Equifax from 0-700 and Call Credit from 0-710. For all three, the higher your score, the better your rating. The score is based on information in your credit report. There is no set calculation but it is based around your payment history, length of history, types of credit used and other criteria. How do I find out my credit score? This has to be the first … [Read more...] about Can you get a mortgage with bad credit, what credit score do you need to buy a house and how can I improve my rating?
Let’s quickly remember the most important items of business news in Turkey from the past 10 days: Firstly, the Central Bank announced net profits of 18.3 billion Turkish Liras ($4.5 billion) for 2017. This means that the Bank will probably top the corporate tax champion list. Secondly, 2017 GDP growth came in at 7.4 percent. Finally, it was reported that the Doğuş Group is seeking to restructure its 7.8 billion-lira short-term debt. There have been three main reports related to debt repayment in the country recently. Oger Telekom, the majority shareholder in Türk Telekom, failed to pay its $4.4 billion debts. Yıldız Holding has demanded a debt restructuring. And there is the case of Doğuş Holding. What all these cases have in common is the fact that banks’ cash flows will be affected. The case of Yıldız Holding shows that businesses that buy assets with short-term financing are now having troubles. The case of Doğuş … [Read more...] about Fallout from Turkey’s currency depreciation: Credit restructuring
By Yara Bayoumy and Maher Chmaytelli KUWAIT (Reuters) – The United States on Tuesday urged members of the coalition fighting Islamic State to help rebuild Iraq or risk a reversal of the gains made against the group, and said it would extend to Baghdad a $3 billion (£2.16 billion) credit line. The United States leads the coalition and hopes that after a three-year fight to defeat the militants it can count largely on Gulf allies to shoulder the burden of rebuilding Iraq. It is also counting on a Saudi-Iraqi rapprochement to weaken Iran’s influence there. Iraq declared victory over Islamic State in December, having taken back all the territory captured by the militants in 2014 and 2015. The fighters have also been largely defeated in neighbouring Syria. “If communities in Iraq and Syria cannot return to normal life, we risk the return of conditions that allowed ISIS to take and control vast territory,” U.S. Secretary of State Rex Tillerson told a … [Read more...] about U.S. urges help for Iraq, extends $3 billion credit line