Current Affairs International - 4-5 March 2016

1. Moody-s Investors Service has cut its outlook for the debt ratings of Saudi Arabia and three other Gulf nations and marked Bahrain-s rating as Junk due to lower crude oil prices which impacted their finances adversely. Saudi Arabia-s Aa3 rating was placed on review for a possible downgrade along with United Arab Emirates, Kuwait and Qatar. It has cut Bahrain-s rating by one notch to Ba1, below investment grade.

2. USA Non-farm payrolls increased by 242,000 jobs in February 2016 and 30,000 more jobs were added in December and January than previously reported, as per report published by the Labour Department on 4th March. The unemployment rate stood unchanged at an eight-year low of 4.9%. This ease fears about the World-s largest economic and may prompt the Federal Reserve to gradually raise interest rates this year.

3. Columnist and author Jerry Pinto has been chosen for the 2016 Windham-Campbell Prize which is given to English-language writers "for their literary achievements or their potential". He won the award for his first novel 'Em and The Big Hoom' in the fiction category.

4. Indian American investor Sunil Sabharwal took charge as the Alternate Executive Director of the International Monetary Fund which is one of the most powerful position within IMF as US holds more than 16.81% voting share in IMF.