Pertamina saves US$402.46 million amid rising global oil prices

JAKARTA, Sep 3, 2022 – (ACN Newswire via – State-owned oil and gas company PT Pertamina succeeded in saving operational costs of around Rp6 trillion (US$402.46 million) until July 2022 through several efficiency programs amid rising world oil prices that increased fuel production costs. PT Pertamina head office building (ANTARA/HO-PT Pertamina) She explained that […]

US businesses in China name zero-Covid-19 policies as their top concern, survey finds

WASHINGTON – China’s zero-Covid-19 policy was the top concern last year for American companies in the country, and their optimism about the world’s second largest economy has fallen to a record low, according to an annual survey out on Monday (Aug 29). Beijing’s pandemic policy also displaced tensions between the United States and China to […]

Fears of more food supply disruptions and price hikes as heatwaves hit grain producers

SINGAPORE – Bouts of extreme and erratic weather now occurring across the world are stoking fears of yet another round of food supply disruptions and commodity price hikes that would inevitably affect Singapore. Currently, large swathes of China and Europe are suffering heatwaves with the high temperatures drying up rivers and causing sporadic wildfires. The […]

Toyota profit slides 42%, hit by double-whammy of supply constraints and costs

TOKYO (REUTERS) – Toyota Motor posted a worse-than-expected 42 per cent hit to quarterly operating profit on Thursday (Aug 4) as the Japanese automaker was squeezed by both supply constraints and rising costs. Operating profit for the three months ended June 30 sank to 578.66 billion yen (S$5.97 billion) from 997.4 billion yen in the […]

Australia watchdog urges gas export curbs to avert domestic supply crunch in 2023

MELBOURNE (REUTERS) – Australia’s competition watchdog has for the first time urged the government to curb liquefied natural gas (LNG) exports, warning that the east coast of one of the world’s biggest suppliers of the fuel could face a shortfall and soaring prices next year. The recommendation on Monday (Aug 1) from the Australian Competition […]

Volvo profit beats despite persisting supply chain snarls

STOCKHOLM (BLOOMBERG) – Volvo reported second-quarter earnings that came in ahead of analyst estimates as the Swedish truck maker raised prices to pass on higher production costs. Adjusted operating profit for the three months through June came in at 13.75 billion kronor (S$1.85 billion) the Swedish manufacturer said on Tuesday (July 19), beating the average analyst […]

Heightened fears over gas supply in Europe raise LNG prices further, S’pore electricity set to rise

SINGAPORE – Singaporeans may have to pay even more for electricity as fears over a gas crunch in Europe exacerbate with a major supply pipeline being taken off service last week. Global prices of liquefied natural gas (LNG) have spiked further since July 11, when one of the largest pipelines carrying Russian gas to Germany […]

Asia’s factories feeble despite China bounce, feeds global recession fears

TOKYO (REUTERS) – Asia’s manufacturing activity stalled in June as many companies were hit by supply disruptions caused by China’s strict Covid-19 lockdowns, while sharp economic slowdown risks in Europe and the United States reinforced fears of a global recession. A string of surveys on Friday (July 1) showed China’s factory activity bouncing solidly in […]

Showa Denko Concludes MOU with SK Inc. to Give Consideration to a Plan to Cooperatively Produce High-Purity Gases for Semiconductors in North America

TOKYO, Jun 29, 2022 – (ACN Newswire via – On June 29, 2022, Showa Denko K.K. (SDK) (TOKYO: 4004) and SK Incorporated concluded a memorandum of understanding (MOU) to give consideration to a plan to start cooperative work to produce high-purity gases, which are used in semiconductor production processes, in North America. While semiconductor […]