Xinhua world economic summary at 0900 GMT, Nov. 18

0 Comment(s)Print E-mail Xinhua, November 18, 2020
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NEW YORK -- Global output and corporate earnings will go back to pre-pandemic levels by the end of 2021 assuming wide-scale rollout of COVID vaccines in the first half of next year, said a yearly outlook unveiled by Swiss banking giant UBS on Tuesday.

The wide availability of COVID vaccines by the second quarter of 2021 should help put Europe and the United States on the path to a sustained recovery while Chinese economic activity has already largely normalized, the report said. (US-Global Economy)

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ULAN BATOR -- The Mongolian government on Wednesday rejected a proposal by the president on providing financial support to all households across the country amid the COVID-19 pandemic.

Mongolian President Khaltmaa Battulga on Tuesday submitted an official letter to Prime Minister Ukhnaa Khurelsukh to develop a program to provide financial support of 1 million Mongolian tugriks (about 350 U.S. dollars) for each household in the country by Jan. 1 next year. (Mongolia-Pandemic-Financial Proposal)

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SUVA -- Fiji's Ministry of Economy is having talks with the Fiji National Provident Fund to seek home loan repayment relief for its members affected by lowered incomes amid the COVID-19 pandemic.

Economy Minister Aiyaz Sayed-Khaiyum said Wednesday that the government does not want to see the fund's members lose their homes in mortgage sales to banks. (Fiji-Government-Fund)

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SEOUL -- South Korean stocks managed to end in a positive territory on Wednesday as foreigners continued to purchase local stocks, but the gain was limited on worry about the COVID-19 pandemic.

The benchmark Korea Composite Stock Price Index added 6.49 points, or 0.26 percent, to settle at 2,545.64. Trading volume stood at 910.5 million shares worth 13.3 trillion won (12 billion U.S. dollars). (S.Korea-Stocks) Enditem

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