FIDE president hopes US authorities to grant him entry visa next weekSport October 26, 14:20
Medvedev, participants in Open Innovations forum leave confernce hall for security reasonsBusiness & Economy October 26, 14:03
Russian early warning and control aircraft A-50 take part in CIS air defense drillsMilitary & Defense October 26, 13:55
Diplomat stresses Russia carries out no airstrikes near AleppoRussian Politics & Diplomacy October 26, 13:46
Russian diplomat points out EU refusal to establish contacts with Eurasian Economic UnionRussian Politics & Diplomacy October 26, 13:23
Russia’s upper house approves suspension of plutonium deal with USRussian Politics & Diplomacy October 26, 13:17
Press review: possible ban on LinkedIn in Russia and political stability in JapanPress Review October 26, 13:00
Russia and India will expand military cooperation with focus on Navy projectsRussian Politics & Diplomacy October 26, 12:49
St. Petersburg innovators sharpen laser correlation spectroscopy for medical research useScience & Space October 26, 12:38
BEIJING, October 24 (Itar-Tass) — Russia, China and the United States will jointly create a new independent rating agency to provide fair and true information about global economic processes, China’s Xinhua news agency reported on Wednesday.
The U.S.-based rating agencies Standard&Poor’s, Moody’s and Fitch failed to issue a warning of the upcoming financial crisis and even helped to aggravate it, Guan Jianzhong, president of China’s Dagong Global Credit Rating Co., said.
Excessive optimism of the U.S. rating agencies led to the financial crisis and the current international rating system can no longer meet investors’ demand, Sean Egan, president of Egan-Jones Ratings Company, said.
Within six months China’s Dagong Global Credit Rating Co., Russia’s RusRating and the United States’ Egan-Jones Ratings Company will set up Universal Credit Rating Group. It will be headquartered in Hong Kong.
The group will not represent any country and will be financed by private institutions’ investments.