Daily Debrief: What Happened Today
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More volatility expected in commodity markets as Russia troubles persist: analysts
THE ongoing turmoil in Russia could bring about more volatility in the commodities space – particularly in crude oil, natural gas and grains – as the country’s stability hangs in the balance, analysts polled by The Business Times warned.
Economists flag risks of technical recession for Singapore as manufacturing contracts further in May
ECONOMISTS warned of a heightened risk of a technical recession in the first half of 2023, as factory output contracted by 10.8 per cent on year in May, worse than Bloomberg’s median forecast of a 7.3 per cent drop.
Singapore to be first South-east Asia market for Volkswagen’s electric vehicles
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SINGAPORE is the first market in South-east Asia where German carmaker Volkswagen will launch its electric vehicles (EVs), with eight models to be offered here by 2024.
Singapore and Guangdong expand collaboration to sustainability, digital economy, health
SINGAPORE and Guangdong renewed and expanded their business partnership at the 13th Singapore-Guangdong Collaboration Council meeting on Monday (Jun 26), where over 20 memorandums of understanding (MOUs) were signed between public and private bodies.
JTC develops new Web-based embodied carbon calculator
THE JTC has developed a new Web-based embodied carbon calculator that aims to help developers better assess construction emissions, and nudge them to source for greener materials as well as manufacturers.
Economic growth should not be sacrificed to achieve net-zero target: Malaysia PM Anwar
ASEAN countries are keen on shifting to cleaner energy, but affordability is a key concern for them in their move away from hydrocarbons. Malaysian Prime Minister Anwar Ibrahim said economic growth should not be sacrificed to achieve the target of net zero.
The STI today
Local shares end day slightly lower as traders take stock of global macro woes
THE ongoing troubles in Russia, as well as the higher risk of Singapore facing a technical recession in the first half of 2023 on the back of a further contraction in the city-state’s factory output in May, forced traders to exercise caution in the local stock market.
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