Sun, 12 Jul 2020

ULAN BATOR -- The credit rating agency Fitch Ratings has graded Mongolia's long-term foreign-currency issuer default rating at "B" with a stable outlook, Mongolia's central bank said Friday, citing a report from the agency.

In its report, Fitch said Mongolia's commodity-dependent economy this year is facing a sharp slowdown in its gross domestic product (GDP) and export growth, deterioration in public finances, and erosion in external buffers due to the COVID-19 shock. (Mongolia-COVID-19-Rating)

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VIENNA -- The Organization of the Petroleum Exporting Countries' (OPEC) daily basket price stood at 28.45 U.S. dollars a barrel on Thursday, compared with 29.03 dollars on Wednesday, according to OPEC Secretariat calculations released on Friday.

Also known as the OPEC reference basket of crude oil, the OPEC basket, a weighted average of oil prices from different OPEC members around the world, is used as an important benchmark for crude oil prices. (OPEC-Price)

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HONG KONG -- An amendment agreement on trade in services signed between the mainland and Hong Kong last year will be implemented on June 1 to introduce more access for Hong Kong services suppliers into the mainland market, China's Hong Kong Special Administrative Region (HKSAR) government said on Friday.

Under the framework of the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA), the mainland and Hong Kong signed the Agreement Concerning Amendment to the CEPA Agreement on Trade in Services (Amendment Agreement) on Nov. 21 last year. (HK-Trade)

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HANOI -- Vietnam's export and import turnovers in the first five months of 2020 decreased by 1.7 percent and 3.8 percent year-on-year respectively, the country's General Statistics Office said Friday.

Export turnovers totalled nearly 99.4 billion U.S. dollars and import turnovers was roughly 97.5 billion U.S. dollars during the five-month period. (Vietnam-Export).

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