India's July manufacturing activity expands at fastest pace in eight months

India’s July manufacturing activity expands at fastest pace in eight months

India’s factory activity expanded at its fastest pace in eight months in July. The manufacturing PMI jumped to 56.4 from June’s 53.9. It was boosted by solid growth in new orders and output as demand continued to improve on the…

Upward pressure on oil prices set to continue, warns Shell CEO

Upward pressure on oil prices set to continue, warns Shell CEO

Volatility in the oil and gas markets could persist for some time, because companies have very little spare capacity — that is the ability to produce more oil — and almost no room to compensate for a major supply outage,…

Singapore's core inflation rises to 3.6% in May, highest in more than 13 years

Singapore’s core inflation rises to 3.6% in May, highest in more than 13 years

Singapore’s core inflation has surged to a 13-year high, driven by rising prices of food and utilities. It was 3.6% in May on a year-on-year basis. Including private transport and accommodation costs, headline inflation accelerated to 5.6%. All sectors saw…

India's sugar exports set to hit record despite restrictions

India’s sugar exports set to hit record despite restrictions

India imposed a curb on sugar exports in early June to ensure food security and control prices. Inflation has soared to above 7%, and retail sugar prices in Mumbai are up about 10%. The sweet-toothed Indian population is expected to…

Worsening COVID-19 situation in China further disrupting Singapore's construction sector

Worsening COVID-19 situation in China further disrupting Singapore’s construction sector

The worsening COVID-19 situation in China is further disrupting the construction supply chain, hammering at an industry already grappling with manpower and material shortages. At least one construction firm in Singapore said it has seen prices of materials like steel…

Japan bans Russian coal imports, expels eight diplomats

Japan bans Russian coal imports, expels eight diplomats

Japanese Prime Minister Fumio Kishida has decided to stop importing coal from Russia. In a rare move, Japan is also expelling eight Russian diplomats and trade representatives. Currently, 11% of Japan’s coal supply comes from Russia. This means the country…

Singapore's factory activity expands for 21st straight month in March, but at slower pace

Singapore’s factory activity expands for 21st straight month in March, but at slower pace

Singapore’s manufacturing sector continued its growth in March, but at a slower pace than the previous month. New orders and factory output saw slower expansion, while inventory contracted at a faster pace. However, new exports and employment recorded faster expansion…

Ukraine President Zelenskyy suggests Israel as place to hold talks with Russia

Ukraine President Zelenskyy suggests Israel as place to hold talks with Russia

Kyiv residents have woken up to smouldering ruins after another deadly barrage by the Russian army. Israel’s Prime Minister Naftali Bennett said despite some progress, big gaps remain between Russia and Ukraine in efforts to end their conflict. Israel has…

Committee Against Profiteering reconvenes ahead of GST hike, to focus on daily essentials

Committee Against Profiteering reconvenes ahead of GST hike, to focus on daily essentials

Businesses using the impending Goods and Services Tax (GST) hike to profiteer could have their actions made public. The reconvened Committee Against Profiteering said it would be unjustified to use the GST as a reason for raising prices before it…

Govt will extend Temporary Electricity Contracting Support Scheme if necessary: Tan See Leng

Govt will extend Temporary Electricity Contracting Support Scheme if necessary: Tan See Leng

The Energy Market Authority will consider extending the Temporary Electricity Contracting Support (TRECS) if necessary. Second Minister for Trade and Industry Tan See Leng said the ministry is monitoring the energy situation closely. He added that further measures will be…