Singapore’s manufacturing activity dropped further last month, showing the slowest rate of expansion in more than a year-and-a-half. The March reading of the Purchasing Managers’ Index (PMI) dipped 0.1 point to 50.1, which is the lowest since August 2020, according to data published by the Singapore Institute of Purchasing and Materials Management (SIPMM). The PMI…
Singapore March PMI Dipped Amid Russia–Ukraine Conflict, Rising Prices
Singapore Raises Electricity Tariff by 10 Percent Amid Global Energy Price Surge
The electricity tariff in Singapore is to increase by about 10 percent from April 1 to June 30 as the Russia–Ukraine war drives up global oil and gas prices, said SP Group, the country’s state-owned electricity and gas distributor, in a press release on March 31. Excluding goods and services tax, the household electricity tariff…
Singapore’s Labor Market Continued to Recover in 4th Quarter of 2021
Advanced estimates have shown that the labor market in Singapore continued to recover during the fourth quarter of 2021 as the economy grew. Resident employment grew at a faster pace and non-resident employment increased for the first time in two years, leading to a significant increase in total employment. Unemployment rates also continued to improve….
HBO Grows to Almost 77 Million Subscribers
HBO and HBO Max reported nearly 77 million total subscribers at the end of the first quarter of 2022, showing consistent and significant growth for the platforms at a time when their largest competitor, Netflix, has struggled to maintain growth. According to the release by former HBO parent company AT&T, HBO has grown to 76.8…
Twitter Bans Ads That ‘Contradict the Scientific Consensus on Climate Change’
Twitter is prohibiting advertisers from running ads that “contradict the scientific consensus on climate change,” the company announced on April 22. The clampdown on such ads aligns with the company’s policy on inappropriate content, which bans ads using misleading content, two Twitter officials said in a blog post. “We believe that climate denialism shouldn’t be…
US Flash PMI Rises in April, Inflationary Pressures Weigh Down on Businesses
April 23, 2022
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Business & Economyeconomyhigh inflationinflationmanufacturing sectorPMI Composite Output indexS&P GlobalUSUS News
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Private sector output rose in the United States in April while companies shifted the burden of surging costs and higher wages onto customers, according to S&P. The S&P Global Flash U.S. Manufacturing Purchasing Managers Index (PMI) rose slightly to 59.7 in April from 58.8 in March, which signaled a “marked improvement” in operating conditions in the…
Russia Makes No Major Gains as Ukrainian Counterattacks Hinder Offensive
Russian forces have failed to make any major gains over the last 24 hours in their offensive in Ukraine as counterattacks by the defenders have hampered their efforts, according to UK intelligence and U.S. analysts. British intelligence said in an April 23 operational update that Ukraine’s airspace and its Black Sea waters remain contested as…
Welcome to ‘Bear Market Stagflation’ and a Crummy Economy
Netflix’s announcement earlier this week that it had lost 200,000 subscribers should sound a warning on the real costs to the economy of continuing high inflation. I suspect Netflix is just a canary in a coal mine; a warning of bad times for us all, not just binge-watching couch potatoes. With Consumer Price Inflation (CPI)…
Soyoil Surges to Record High as Indonesia Bans Palm Oil Exports
April 23, 2022
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Asia & PacificBusiness & Economycommoditieseconomic policieseconomyEuropeexportsIndonesiaInternationalMarketsOilpalmRussia-Ukraine WarSoyoilWorld
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LONDON—Soybean oil prices soared to a record high on Friday as Indonesia’s decision to effectively ban exports of palm oil heightened concerns about already depleted global supplies of alternative vegetable oils. The loss of shipments from Ukraine, the world’s top supplier of sunflower oil, and drought in the world’s top soybean oil exporter Argentina had…
Britain’s Steelmakers Scorched by White-Hot Power Prices
CHESTERFIELD, England—Steel boss James Brand raises his voice above the roar of metal being funnelled into a foundry furnace as he details how rampant costs have pushed him to raise his prices by 70 percent. Yet he says that, despite this hefty hike, his customers in sectors including oil and gas, autos, and construction are…
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