MIDEAST STOCKS - Factors to watch - Sept 25
Sept 25 Here are some factors that may affect Middle East stock markets on Sunday. Reuters has not verified the press reports and does not vouch for their accuracy.
SPRINGFIELD, Ill. Feb 28 The Illinois House of Representatives on Thursday soundly defeated proposals from Democratic Speaker Michael Madigan to make substantial changes to pension programs for public sector workers.
After brief debate, the House voted 66 to 2 to reject a proposal to terminate cost-of-living increases for retired workers. It voted 62 to 5 against suspending cost-of-living increases until the state pension systems are 80 percent funded.
His proposal to raise the retirement age to 67 years for pension eligibility failed 66 to 1 and a proposal that workers contribute 5 percent more to the cost of their pensions failed 61 to 3.
Republicans, who are in the minority, boycotted the votes, saying the process of considering them was not serious.
Illinois has the worst funded state pensions systems in the nation at only 39 percent.
ISTANBUL, Sept 24 Ratings agency Moody's cut Turkey's sovereign credit rating to "junk," citing worries about the rule of law after an attempted coup and risks from a slowing economy, in a move that could deter billions of dollars of investment.
ISTANBUL, Sept 24 Credit ratings agency Moody's Investor Service has downgraded Turkey's sovereign credit rating to non-investment grade citing worries about the rule of law following an attempted coup, risks from external financing and a slowing economy.