Beijing office buildings - Chinese rating agency strips Western nations of AAA status Photo: AFP/Getty Images
Chinese Rating Agency Strips Western Nations Of AAA Status -- The Telegraph
China's leading credit rating agency has stripped America, Britain, Germany and France of their AAA ratings, accusing Anglo-Saxon competitors of ideological bias in favour of the West.
Dagong Global Credit Rating Co used its first foray into sovereign debt to paint a revolutionary picture of creditworthiness around the world, giving much greater weight to "wealth creating capacity" and foreign reserves than Fitch, Standard & Poor's, or Moody's.
The US falls to AA, while Britain and France slither down to AA-. Belgium, Spain, Italy are ranked at A- along with Malaysia.
MIDDLE EAST
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New UN report cites lack of progress by Israel and Lebanon on key obligations.
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ASIA
Pakistani official vows to fight India for Kashmir.
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North Korea calls off talks with U.N. officers over ship.
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AFRICA
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Sudanese President charged with genocide in Darfur.
Mugabe: Diamonds can revive Zimbabwean economy.
EUROPE
EU approves Estonian euro entry for 1 January 2011.
Russian suicide bomb ring foiled, government says.
Russia longs for breather in fierce heatwave.
Sarkozy pursues pension reform as scandal lingers.
French lawmakers to approve full veil ban.
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AMERICAS
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TERRORISM/THE LONG WAR
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ECONOMY/FINANCE/BUSINESS
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Moody's downgrades Portugal debt rating.
Oil climbs back above $75.
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