China factory activity sees shock contraction on Covid outbreaks

BEIJING (BLOOMBERG) – China’s factory activity unexpectedly contracted in July, reversing earlier economic momentum as sporadic Covid-19 outbreaks weighed on the recovery. The official manufacturing purchasing managers index fell to 49 from 50.2 in June, the National Bureau of Statistics said on Sunday (July 31). Economists had expected a reading of 50.3, according to the […]

Semiconductors are ‘cool’ again: GlobalFoundries CEO

SINGAPORE – These are glory days for semiconductors, an industry that shot into global focus after supply chain disruptions during the pandemic and the attempts to decouple technologically from China highlighted how strategic the sector is to the resilience of major powers. On Thursday, the US House of Representatives passed 243-187 a US$280 billion (S$386.4 […]

As businesses rush to go green, consumers face growing risks of greenwashing

SINGAPORE – A firm that makes beauty products announced that it was selling its green tea seed serum in “paper bottles” but these turned out to be plastic, with just the external wrapping made of paper. Customers accused the brand of “greenwashing” – the process of businesses leading consumers or stakeholders into believing that their […]

askST: What are some questions and checks before buying a ‘green’ product?

SINGAPORE – Greenwashing continues to be in the spotlight, with the Monetary Authority of Singapore announcing on Thursday (July 28) that funds sold to retail investors here under the label of meeting environmental, social and governance (ESG) standards will now have to back up their claims. The move comes amid new disclosure and reporting guidelines […]