manufacturing

China's responses have an impact on all investors

SINGAPORE (Jun 3): During the 19th century, China was a punching bag for Western powers. It is remembered by many Chinese as the “Century of Humiliation”, and there is a determination not to allow a repeat of this situation. This means China is not going to roll over to the increasingly belligerent demands of US President Donald Trump.0

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Nike, Adidas, call tariffs 'catastrophic' in open letter to Trump

NEW YORK (May 21): Nike Inc., Adidas AG and other footwear giants urged President Donald Trump to reconsider his tariffs on shoes made in China, saying the policy would be “catastrophic for our consumers, our companies and the American economy as a whole.”

In all, 173 companies signed an open letter to the president, dated Monday and posted on the industry trade association’s website. It was also sent to Treasury Secretary Steve Mnuchin, Commerce Secretary Wilbur Ross and National Economic Council director Larry Kudlow.

Natural Cool makes foray into F&B industry with million-dollar acquisition

SINGAPORE (Feb 19): Natural Cool Holdings, the air-conditioning and switchgear specialist, is venturing into the food and beverage (F&B) industry by acquiring the business and assets of Yummy YM and SFB Global for $0.98 million.

Yummy and SFB Global are the manufacturers, distributors and retailers of cooked-food products and beverages & confections, respectively.

The former company is 70% owned by Leong Yew Meng, who is also the sole director and shareholder of SFB Global.

Singapore has a shipping rival less than 30 kilometres away

SINGAPORE (Feb 1): Indonesia wants to re-position its Batam island as an alternative shipping and manufacturing hub to Singapore with a potential to draw US$60 billion ($80.8 billion) in new investment.

Batam and nearby islands -- located at less than 30 kilometers south of Singapore -- have attracted about US$20 billion dollars of investment and they were declared a free-trade zone in 2007. It’s home to thousands of local and foreign firms producing goods from computers to oil rigs.

Bright spots to be found in bleak 2019 global growth outlook: Fitch

SINGAPORE (Jan 18): Fitch Ratings says decent US domestic demand and real GDP growth of over 6% for China are still two achievable scenarios in 2019, in spite of market concerns of a sharp downturn in growth this year.

According to a note issued by Fitch on Thursday, the ratings agency says the broad contours of its Dec 2018 Global Economic Outlook (GEO) forecasts for 2019 – which entail above-trend growth in the US and policy easing preventing growth dipping below 6% in China – still look intact.

December early indicators show China slowed for a seventh month

BEIJING (Dec 28): China’s economy slowed for a seventh straight month in December, as the trade war, subdued domestic demand and decelerating factory inflation combined to undercut growth.

That’s the signal from a Bloomberg Economics gauge aggregating the earliest-available indicators on business conditions and market sentiment. The data suggest the government’s stimulus approach and the trade war truce with the US have yet to have much effect on the nation’s growth trajectory.

Enterprise Singapore and Bpifrance call for proposals on joint France-Singapore innovation projects

SINGAPORE (Sept 18): Enterprise Singapore and Bpifrance are calling for proposals on joint innovation projects in technological and application areas including advanced manufacturing, clean technology and medical technology.

Enterprise Singapore is a statutory board under Singapore’s Ministry of Trade and Industry, while Bpifrance is the agency charged to help French companies develop by providing assistance and financial support.

Singapore's manufacturing talent must evolve to address new challenges: Randstad

SINGAPORE (Sept 5): A growing number of companies in Singapore’s manufacturing sector have been jumping on the digital bandwagon by exploring how manufacturing intelligence and automation can help meet their business objectives, reduce cost and improve efficiencies, according to Randstad Singapore’s observations.

In its latest Manufacturing Workforce Trends report, the recruitment firm says manufacturing employees will need to acknowledge the need to be flexible and adaptable to "inevitable changes" in their job scopes with the advent of emerging technologies.

Singapore posts 11.8% higher NODX in July on non-electronic export growth

SINGAPORE (Aug 17): Singapore’s non-oil domestic exports (NODX) grew by 11.8% y-o-y in July this year after the 0.8% increase in June, as non-electronic NODX grew to outweigh the decline in electronics.

This is according to Enterprise Singapore’s latest external trade figures for July 2018, which reflected that growth of NODX to the majority of Singapore’s top 10 markets was driven mainly by the US (+33.7%), Japan (53.9%) and Indonesia (+42.8%).

MTI foresees slower 2H for Singapore's economy; maintains 2018 GDP growth forecast at 2.5-3.5%

SINGAPORE (Aug 13): The Ministry of Trade and Industry (MTI) expects Singapore’s economic pace of expansion to moderate in 2H18 against an external backdrop of a weakening global growth outlook, as well as increased uncertainties and risks in the global economy.

This comes even as MTI maintains its GDP growth forecast for 2018 at 2.5-3.5%, highlighting the “strong performance” of the Singapore economy in the first half of the year.

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