The China Evergrande debt crisis deepened Thursday as Fitch declared the property giant in default. It must make another 14 bond coupon payments worth almost $1 billion within five months.

The worst China power shortages in decades hit many parts of the country as energy demand surged amid a post-pandemic recovery

A power crisis would have an immediate impact on India’s nascent economic recovery, which is being led by industrial activity and not a services revival, according to reports