New loans in China hit a record level in January, according to data released this week. Bad loans jumped over 50% from December 2014 to December 2015. It’s a big increase, especially in a country that isn’t always trusted for giving out the real statistics. Source: CNN Money
Interior Minister Matteo Salvini on Saturday dismissed ratings agency Moody’s decision to downgrade Italy’s credit standing because of the government’s controversial budget plans and said the country’s outlook was “stable.” Source The Local
Sanctions are forcing Russia to find alternative settlement currencies to the US dollar to ensure the security of the country’s economy, according to President Vladimir Putin.“We are moving to the de-dollarization of the economy. We are doing so not because we want to undermine the dollar, but because we want to ensure our security. We are constantly facing sanctions, they do not give us the opportunity to work in dollars,” Putin said on Thursday at the Valdai Discussion Club meeting in Sochi. Source RT
Saudi Arabia and Kuwait will struggle to resume oil production from jointly operated fields any time soon due to operational differences and souring political ties between the previously close Gulf OPEC allies, sources familiar with the matter said. Source: Al Jazeera
