Moody's Investors Service has confirmed Kuwait's Aa2 sovereign ratings but has applied a negative ratings outlook, concluding a review initiated on March 19. The ratings affect Kuwait's local and foreign currency government bond ratings and its country ceiling for foreign currency bank deposits, which were confirmed at Aa2 but with a negative outlook. Kuwait's country

Middle Eastern insurers are likely to respond to the global crisis by focusing on underwriting and 'core' businesses, protecting their balance sheets and enhancing risk management in order to limit exposure, Moody's Investors Service said in a new report that reviews how western insurers have reacted to previous crises, especially the one from 2002-03, and

The European Investment Bank intends to raise its total lending in the European Union and pre-accession countries to as much as EUR 70 bln in 2009 in response to strong demand for its funding in the current tough economic and financial climate. Loan signatures in the EU from October 2008 to end-May 2009 amounted to

Commodity-related shares led Asian stocks higher on Wednesday, snapping a two-day decline, after metals and oil prices rallied on a decline in the U.S. dollar and as hopes grew for stronger Chinese industrial demand. Investors are scouring fresh Chinese data this week for signs that the economy remains on the road to recovery. Expectations that

Australian consumer sentiment posted its biggest monthly rise in 22 years in June as consumers cheered news that the country escaped a recession, lessening the need for further cuts in interest rates in coming months. Signs of stabilisation in the global economy, rallying stock markets and a rising Australian dollar also helped drive confidence higher,

Japan will cut carbon emissions by 15 percent by 2020 from 2005 levels, Kyodo news agency said on Wednesday, a target greens and analysts say is not bold enough and could undermine global climate talks. The world's fifth-biggest greenhouse gas emitter has been under huge pressure from developing nations to opt for deep reductions to

The U.S. Supreme Court on Tuesday cleared the way for the sale of Chrysler LLC to Italy's Fiat, while General Motors began to revamp its widely criticized board by naming former AT&T Inc chief executive Ed Whitacre as chairman. In a victory for the Obama administration driving the restructuring of bankrupt Chrysler, the court denied