Money Talks

Evergrande averts another default, UK economy slows, Turkey current account widens | Money Talks

China Evergrande averts default by making last-minute payment The heavily-indebted Chinese property developer, Evergrande, appears to have averted default with a last-minute bond interest payment. Several investors reportedly received overdue payments on three bond tranches, which were due on Wednesday. The cash-strapped company had missed interest payments on bonds totaling 148-million dollars last month. UK economic growth slows to 1.3% in third quarter The UK's economic recovery lost steam in the third-quarter due to global supply chain challenges. Official figures show GDP expanded 1-point-3 percent from July through September, compared with 5-and- a-half percent in the second quarter. The world's fifth-largest economy is still 2-point-1 percent smaller than it was in the last quarter of 2019, before the pandemic. Turkey's current account surplus widens in September And Turkey has posted a current account surplus in September for the second consecutive month, on the back of a jump in tourism revenue. The surplus came in at 1-point-6 billion dollars, widening from the 528-million dollars recorded in the previous month. Turkey's tourism income has more than doubled from a year ago to 3-point-8 billion dollars.

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