MOSCOW, July 24 - Russia's state-controlled banks would have to turn to the state, domestic borrowers or new regions such as Asia if EU sanctions shut off investment, hurting their ability to lend to local businesses and further damaging the country's fragile economy.
(The following statement was released by the rating agency) LONDON, July 24 (Fitch) Fitch Ratings has affirmed Nationwide Building Society's (Nationwide) Long-term and Short-term Issuer Default Ratings (IDR) and Viability Rating (VR) at 'A'/F1'/a', respectively. Nationwide's Support Rating (SR) and Support Rating Floor (SRF) are affirmed at '1' and 'A'. The Outlook on the Long-term IDR is Stable. A full list of rating actions is at the end of this comment. KEY RATING DRIVERS - IDRs and VR
* Second-quarter adjusted earnings $0.64/shr vs est. $0.57
* Post-tax Q2 ENI per unit of 62 cents vs Street view of 65 cents
* 20 pct of Africans have formal pension savings-official
MUMBAI - The BSE Sensex and the Nifty rose to record highs on Thursday after cabinet approval for a higher foreign direct investment limit in insurance and a rejig in foreign debt limits reinforced optimism about the government's reform agenda.