Standard & Poor's lifts Cyprus into investment grade

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NICOSIA, Cyprus (AP) Standard & Poor's has raised Cyprus' credit grade by a notch to BBB-, lifting the country back into investment grade after near-bankruptcy five years ago.

The international rating agency pointed Friday to Cyprus government efforts that have slashed the banking sector's bad loans from around half of all loans to one-third.

It cited moves to carve out bad loans from state-owned Cyprus Co-Operative Bank that were subsequently sold to Cyprus-based Hellenic Bank, the sale of bad assets by top lender Bank of Cyprus and new legislation helping banks to further reduce such loans.

The agency said strong growth of around 3 percent of gross domestic product over the next three years will help drive down public debt. But it added that high public and private indebtedness remain a ratings constraint.

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New landslide kills at least 4, buries houses in Philippines

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September 19, 2018 at 11:24 pm | MANILA, Philippines (AP) A massive landslide buried dozens of homes in two villages near a central Philippine mountain Thursday, killing at least four people and sending rescuers scrambling to find...

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The Latest: Moon, Kim visit crater lake on Mount Paektu

AP

September 19, 2018 at 10:42 pm | PYONGYANG, North Korea (AP) The Latest on the summit between North Korean leader Kim Jong Un and South Korean President Moon Jae-in (all times local): 2:40 p.m. North Korean leader Kim Jong...

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Doctor gets life term in Hong Kong over yoga ball killings

AP

September 19, 2018 at 9:47 pm | HONG KONG (AP) An anesthesiologist convicted of killing his wife and daughter by placing a yoga ball that leaked carbon monoxide in their car has been sentenced to life in prison in Hong Kong. ...

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Ex-PM Najib Razak faces new corruption charges in Malaysia

AP

September 19, 2018 at 9:25 pm | KUALA LUMPUR, Malaysia (AP) Malaysia's detained former Prime Minister Najib Razak will face at least two dozen fresh charges of abuse of power and money laundering over the multimillion-dollar loot...

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