Xinhua world economic news summary at 1130 GMT, Nov. 11

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NEW YORK -- Rating agency Moody's Investors Service on Friday downgraded its outlook on the U.S. government to "negative" from "stable," citing the rising risks to the nation's large fiscal deficits and declining debt affordability.

"Continued political polarization within U.S. Congress raises the risk that successive governments will not be able to reach consensus on a fiscal plan to slow the decline in debt affordability," Moody's said in a statement, as Congress faces the looming threat of a government shutdown once again. (US-Moody's-Outlook)

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YANGON -- Myanmar earned 1.81 billion U.S. dollars from agricultural products export in the first seven months of the current 2023-24 fiscal year, according to data released by the Ministry of Commerce on Saturday.

The figure from April 1 to Nov. 3 represented a decrease from the 2.01 billion U.S. dollars recorded in the same period last year, showed the ministry data. (Myanmar-Agricultural Products-Export)

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ISLAMABAD -- The Pakistan Stock Exchange continued a strong bullish trend on Friday, with its benchmark index setting a new record high amid strong domestic buying.

The Pakistan Stock Exchange's benchmark KSE 100-Index moved up by 2.04 percent or 1,129.94 points, crossing the 55,000 level to close at 55,391.36 points. (Pakistan-Stocks-Index)

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ROME -- The Italian economy is likely to lose steam in the coming months after stagnating in the third quarter (Q3) of 2023, the National Institute of Statistics (ISTAT) said Friday.

Italy "had a better result than Germany, but worse than France and Spain, and its (economy) could slow down in the coming months," ISTAT said in its monthly report. (Italy-Economy-Slowdown) Enditem

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