The Singapore economy may have narrowly avoided a technical recession in the third quarter, according to flash estimates from the Ministry of Trade and Industry (MTI). Singapore Q3 GDP up by 0.1% YoY.

The showing is still worse than expected - private-sector watchers had guided for growth of 0.2% in a Bloomberg poll and 0.3% in a Reuters poll.

The latest slump was again led by the ailing manufacturing sector, which may have lost 3.5% YoY, deepening from a revised 3.3% drop in the second quarter

The Catalist-listed company Libra Group has received a letter of demand for US$18.8 million from UOB for outstanding banking facilities. Bank of England Deputy Governor Dave Ramsden said he did not share the views of some of his colleagues who have suggested the British central bank might cut interest rates if the Brexit crisis drags on beyond the current Oct 31 deadline.

SoftBank Group Corp. has prepared a financing package for WeWork Companies Inc that would give it control over the shared office space company, the Wall Street Journal reported.

Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR