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Indonesia's trade ministry faces barrage of questions from businesses over new export control plan
Indonesia's trade ministry faces barrage of questions from businesses over new export control plan JAKARTA, June 9 : Indonesian trade ministry officials faced a barrage of questions on Tuesday from exporters of palm oil, coal and ferroalloys worried about the impact of a controversial new export control plan designed to extract more profit from the country's natural resources. In an online forum held by the government, businesses expressed concern about how the new rules will be implemented,...
Singapore assessing impact as US proposes 12.5% tariffs over forced labour probe
Singapore assessing impact as US proposes 12.5% tariffs over forced labour probe The proposed tariff would cover about one-third of Singapore’s domestic exports to the US, says the Ministry of Trade and Industry. SINGAPORE: Singapore's Ministry of Trade and Industry (MTI) said on Thursday (Jun 4) that it is assessing the potential impact of Washington's proposed new tariffs on dozens of trading partners, while continuing to engage the Office of the United States Trade Representative (USTR)...
Indonesia issues technical regulations to centralise coal, palm oil, ferroalloy exports
Indonesia issues technical regulations to centralise coal, palm oil, ferroalloy exports JAKARTA, June 8 : Indonesia's Trade Ministry published technical regulations on Monday to bring coal, palm oil, and ferroalloy exports under the control of a central government-owned firm. All three technical regulations have been in effect since June 1, with exporters of those commodities now obliged to report their export activities to a state firm appointed by the government. The state secretariat...
ASEAN set to sign landmark regional digital economy framework agreement in November 2026
ASEAN set to sign landmark regional digital economy framework agreement in November 2026 The ASEAN Digital Economy Framework Agreement is targeted to be signed at the 47th ASEAN Summit later this year. SINGAPORE: ASEAN member states are set to sign a landmark regional digital economy agreement at the 47th ASEAN Summit in November after concluding negotiations on the pact this week. The Ministry of Trade and Industry (MTI) said on Sunday (May 31) that Singapore welcomes the successful...
China rejects OECD report on industrial subsidies as ‘one-sided’ amid EU trade tensions
China rejects OECD report on industrial subsidies as ‘one-sided’ amid EU trade tensions The dispute comes as industrial policy becomes a major point of contention in global trade, particularly in hi-tech and strategic sectors “The report’s definition of ‘subsidies’ lacks a unified standard and statistical framework, and deviates from consensus under multilateral frameworks such as the World Trade Organization,” the Ministry of Commerce said in a statement on Thursday. “It attributes the rise...
Japan proposes rebuilding ageing nuclear plants to meet power demand
Japan proposes rebuilding ageing nuclear plants to meet power demand TOKYO, June 5 : Japan needs to rebuild between two and five ageing nuclear reactors by the 2040s and as many as 11 to 14 by the 2050s to secure stable power supply, the Ministry of Economy, Trade and Industry said in a policy proposal on Friday. The proposal, outlined at a meeting on nuclear policy, reflects a shift towards greater reliance on atomic energy to help meet rising power demand and reduce costly fuel imports....
NTUC concerned about employers presenting retrenchments as 'new opportunities' by asking workers to reapply for roles abroad
NTUC concerned about employers presenting retrenchments as 'new opportunities' by asking workers to reapply for roles abroad Some employers take this approach in order to avoid the optics of a retrenchment, say manpower experts. SINGAPORE: Employees who lose their jobs in Singapore are considered to have been retrenched even if new or similar roles in their organisations are available overseas which they successfully apply for, the Manpower Ministry (MOM) and National Trades Union Congress...
India-US trade talks to resume on June 1 as both sides push to finalise interim pact
Trade negotiations between India and the United States are set to gain momentum, with senior officials from both countries beginning a four-day meeting in New Delhi on Monday to work out the final details of an interim trade agreement. The US delegation will be led by chief negotiator Brendan Lynch, while India will be represented by Darpan Jain, additional secretary in the department of commerce and the country's chief negotiator for the talks. According to the commerce ministry, the...
Indonesian business groups call for clarity about new commodity export rules
Indonesian business groups call for clarity about new commodity export rules JAKARTA, June 2 : Business groups in Indonesia called on the government to issue technical guidance for its plan to centralise exports and retain export proceeds in state banks, they said in a joint statement Reuters received on Tuesday. The Indonesian Employers Association, together with associations of miners, coal miners, nickel smelters and palm oil producers, said they supported the new rules, but hoped the...
Heng Swee Keat named first chancellor of Singapore Institute of Technology
Heng Swee Keat named first chancellor of Singapore Institute of Technology Mr Heng will preside over key university ceremonies, including convocations, and represent the university at major institutional and external engagements. Former Deputy Prime Minister and Minister for Education Heng Swee Keat has been appointed the inaugural chancellor of the Singapore Institute of Technology (SIT), the university said on Wednesday (Jun 3). The appointment took effect on Monday and will last for a...