KAZAKHSTAN - Kazakhstan has become the first country in the Commonwealth of Independent States, a group of previously Russian-controlled countries, to reach investment grade status.
The award was made by ratings agency Moody’s after developments in the country’s oil and non-ferrous metallurgy sectors.
Construction of new pipelines will improve dramatically market access for oil exports which, Moody’s says, will compensate for price volatility.
Moody’s says that over the medium to long-term it will monitor: the country’s progress on privatisation; the ability of policy-makers to withstand currency appreciation; and the government’s approach to the growth of regional and income equalities and the resulting pressure on social welfare payments.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.