Kaohoon Morning Brief – 25 October 2021

1) China Evergrande resumes work on more than 10 projects

China Evergrande Group said that more than 10 working projects ub six cities had resumed work after the company was reportedly paying the coupon on a bond due September 23 before the grace period ended on Saturday. The company announced in August that some projects were suspended because of delays in payment to suppliers and contractors.

 

2) Fed thinks it’s time to taper, but not raising policy rates

Federal Reserve Chairman Jerome Powell said the U.S. central bank should start the asset tapering process, but should not yet touch the interest rate. The Fed has promised to keep its interest rate at the current near-zero level until the economy has returned to full employment and inflation has reached the 2% target.

“I do think it’s time to taper; I don’t think it’s time to raise rates,” said Powell.

 

3) Saudi Arabia expects zero-net emissions by 2060

Saudi Arabia, world’s top oil exporter, expects to reach zero-net emissions by 2060. Riyadh aims to cut 278 million metric tons of carbon emissions per year, which is increased from a previous target of 130 million metric tons.

 

4) Thailand opens for 46 countries in November

Thailand will be opened to 46 countries including Britain, the United States, China, Singapore, Germany and Australia instead of the earlier report of 10 Covid-19 low-risk countries, starting November 1, 2021. Fully vaccinated tourist arrivals from these 46 countries will be able to enter Thailand without quarantine requirement.