Egypt waits for new demonstrations on Friday

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Source: BBC
© Scanpix/FP

Egyptians are going to organize new demonstrations on Friday in Cairo's Tahrir Square. The protesters demand postponing the elections due on Monday. The previous civilian-cabinet was forced to step down in the beginning of this week as it was demanded by protesters. Despite the announcement about faster approval of the civilian rules, many protestors expect the current government to hold on to power.

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Fri, 25 Nov 2011 07:59:00 GMT

Hungary downgraded to junk by Moody's

According to Moody's statement, it has reduced Hungary's credit rating from Baa3 to Ba1 or to the highest junk. The downgrading took place after Hungary asked for help from International Monetary Fund to regain confidence as country has the highest level of sovereign debt among EU eastern members. Hungary has also received lower ratings from Fitch and Standard & Poor's.

Fri, 25 Nov 2011 07:42:03 GMT

Asian stocks decline on Europe's woes

Asian stocks are traded lower eying the spreading debt crisis in the euro-zone. Energy and banking sectors are the top decliners. Australia's S&ASX index decreased by 1.7%, South Korea's Kospi lost 1.4%, Hong Kong's Hang Seng Index declined by 1.3% and China's Shanghai Composite fell by 0.4%. However, Japan's Nikkei Stock Average increased by 0.2%, but stayed near two-year low.

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