Singapore set to continue to grow as top commo trading hub in Asia
SINGAPORE'S oil companies and suppliers have been severely hit by the drop in commodity prices. It's estimated that US$1 trillion in planned production projects globally are in danger of cancellation. Despite last week's rollercoaster, leading to a five-month peak in oil prices before sliding down again, there is no clear end in sight for the slump in metals and prices.
Clearly, the impact of the downturn in the global commodities is being felt in Singapore, particularly given its reliance on businesses elsewhere across the region, such as Australia, Japan and South Korea. But what lessons can Singapore learn from previous downturns to sustain …
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Columns
‘Competition for talent’ a poor excuse to keep key executives’ pay under wraps
Why a stronger US dollar is dangerous
An overstimulated US economy is asking for trouble
Too many property agents? Cap commissions on home sales
Time to study broadening of private market access
Far from thawing, the US-China economic war could see a new front opening up