Japan factory activity grows at fastest pace in nearly four years

TOKYO (REUTERS) – Japan’s factory activity grew at the fastest pace in nearly four years in November, as output accelerated on loosening Covid-19 restrictions, defying pressure from the biggest jump in input prices in 13 years. Activity in the services sector also accelerated, expanding at the fastest pace in more than two years as economic […]

S'pore pay rises set to rebound to 2019 levels next year: Survey

SINGAPORE – Expecting the global Great Resignation phenomenon to play out in full next year, employers in Singapore are reverting salary increments and payroll budgets to near pre-pandemic levels in a bid to hold on to their employees, as well as fill vacancies next year. Publishing its Mercer’s 2021 Total Remuneration Survey last Wednesday (Nov […]

China petrol stations rationing diesel, adding to supply chain squeeze

BEIJING (BLOOMBERG) – Fuel retailers in parts of China are rationing diesel volumes to customers as the nation ramps up efforts to avert a similar supply crunch that is engulfing the coal and natural gas sectors. Long lines of vehicles are snaking from pump stations across Guangxi and Anhui province in east and south-west China, […]

US proposes reversing Trump-era rules on ESG investing

NEW YORK (NYTIMES) – The US Labor Department proposed rule changes on Wednesday (Oct 13) that would make it easier for retirement plans to add investment options based on environmental and social considerations – and make it possible for such options to be the default setting upon enrollment. In a reversal of a Trump-era policy, […]

Oil holds above US$80 with global power shortage boosting demand

SINGAPORE (BLOOMBERG)- Oil held above US$80 a barrel on expectations that a power crisis from Asia to Europe will lift demand and tighten global balances. West Texas Intermediate futures edged higher in Asian trading after closing up 1.5 per cent on Monday (Oct 11). Oil markets are tightening rapidly in the run-up to the Northern […]

Yellen confident Congress will follow through on global tax deal

WASHINGTON (BLOOMBERG) – Treasury Secretary Janet Yellen said she expects Congress to take action soon to bring the United States into line with a global minimum tax agreed on last week by 136 countries. “I am confident that what we need to do to come into compliance with the minimum tax will be included in […]

Asean+3 likely to grow strongly in 2022: AMRO

SINGAPORE (THE BUSINESS TIMES) – Economic activity in Asean+3 is now projected to expand by an aggregate 6.1 per cent in 2021, down from the 6.7 per cent forecast earlier this year, after posting flat growth in 2020, according to the Asean+3 Macroeconomic Research Office (AMRO) on Thursday. The Plus-3 economies are continuing to drive […]