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(MENAFN - AFP) Ratings agency Moody's Friday downgraded Russia's credit rating to Baa2 from Baa1 citing poor growth prospects, the Ukraine crisis and sanctions as well as capital flight.

"The first driver for the downgrade ...relates to the longer term damage the already weak Russian economy is likely to incur as a result of the ongoing crisis in Ukraine and, relatedly, the ...

(MENAFN - AFP) The first made-in-Japan passenger aircraft in nearly four decades is being unveiled Saturday as its maker pushes into the booming regional jet sector with an eye to taking on industry giants Embraer and Bombardier.

Mitsubishi Heavy Industries, a military contractor best known for its "Zero" World War II fighter, is set to pull back the curtain on its new Mitsubishi ...

(MENAFN - AFP) All four suspected Ebola cases admitted to hospitals in Spain have tested negative in a first round of tests, the government said Friday.

They include three men who arrived recently from badly affected African nations and were all hospitalised on Thursday, Deputy Prime Minister Soraya Saenz Santamaria.

All four will be tested a second time in the coming ...

(MENAFN - AFP) International Monetary Fund chief Christine Lagarde said Friday the plunge in global stock exchanges this week was due to a market "over-reaction".

"Generally the IMF doesn't comment on short-term market variations (but) we can't help ourselves from thinking we're in the presence of a correction and maybe at this stage an over-reaction," she said.

Markets ...

(MENAFN - AFP) "Juan Middle Class" may be a cartoon, but the problems he faces -- expensive schools, crummy healthcare, ballooning grocery bills -- are all too real for millions of newly middle-class Latin Americans.

The Uruguayan cartoon character speaks to the frustrations of more than 50 million Latin Americans who made a mass exodus from poverty during the region's so-called ...

(MENAFN - AFP) The ratio of bad loans at Spanish banks rose in August to 13.25 percent, the Bank of Spain said Friday, a worrying sign as the ECB put the final touches on its bank assets review, or stress tests.

The volume of bad loans, primarily a legacy of the country's real estate boom that went bust, actually dipped slightly to 184.3 billion euros ($236.2 billion), but ...

(MENAFN - AFP) Russian President Vladimir Putin on Friday called on Europe to help Kiev cover its gas debts with Russia following talks with his Ukrainian counterpart, Petro Poroshenko.

"We consider that our European partners, the European Commission, also can and must lend Ukraine a hand to resolve this problem," Putin told journalists.

The Russian leader said that ...

(MENAFN - AFP) German automaker Volkswagen will recall more than a million cars in China and the United States due to a defect in the rear axles, a company spokesman said.

The company's US unit informed the National Highway Transport Safety Administration that it would recall more than 400,000 Jetta sedan models and nearly 42,000 Beetle cars manufactured between 2011 and ...

(MENAFN - AFP) The German economy, currently slowing sharply, does not need additional stimulus and any such measures could backfire, the head of the central bank or Bundesbank, warned on Friday.

"With the economy operating at normal capacity utilisation, Germany is not in need of stimulus," Bundesbank president Jens Weidmann told a conference in Riga.

"On the contrary, ...

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