UPDATE 1-Fitch downgrades Sri Lanka as default fears loom


(Adds Sri Lanka comment) LONDON, Nov 27 (Reuters) – Ratings agency Fitch downgraded Sri Lanka’s sovereign debt to “CCC” on Friday, warning that the country was at increasing risk of missing debt payments due to the coronavirus pandemic. Sri Lanka relies on tourism and garment […]

Global recovery heading into critical period: MAS chief


The global economic recovery from the Covid-19 pandemic is heading into a critical period as nations balance the need to prop up consumers and businesses against the threat of unmanageable debt, Singapore’s central bank chief said. “The world is now entering a phase where the […]

U.S. economy surges by record 33.1% in third quarter


WASHINGTON — The U.S. economy rebounded at a record pace of 33.1% in the July-September quarter, unchanged from the first estimate a month ago. But a resurgence in the coronavirus is expected to slow growth sharply in the current quarter with some economists even raising […]

China factory output grows faster than expected in October


BEIJING (REUTERS) – China’s industrial output rose at a faster-than-expected pace in October, while retail sales continued to recover albeit at a slower-than-forecast pace as the world’s second-largest economy emerged from its Covid-19 slump. Industrial output climbed 6.9 per cent in October from a year […]

MPA to issue up to 2 new LNG bunker supplier licences


SINGAPORE (REUTERS) – Singapore’s Maritime and Port Authority (MPA) said on Wednesday (Oct 28) it plans to issue up to two new licences for the supply of liquefied natural gas (LNG) bunker fuel to meet growing demand. MPA launched a request for proposal (RFP), with […]