Blog Standard Left Sidebar – Millennium Group

09 Jun 21

MAS to deploy US$1.8 billion under green investment programme; aims for climate-resilient portfolio

SINGAPORE: The Monetary Authority of Singapore (MAS) said on Wednesday (Jun 9) that it will invest US$1.8 billion (around S$2.4 billion) into climate-related investment opportunities. These funds will be placed with five asset managers under its Green Investments Programme (GIP) to “manage new equity and fixed income mandates focused on climate change and the environment”, […]

09 Jun 21

Oil prices climb on signs of strong fuel demand recovery

SINGAPORE: Oil prices rose for a second session on Wednesday on signs of strong fuel demand in western economies, while the prospect of Iranian supplies returning faded as the U.S. secretary of state said sanctions against Tehran were unlikely to be lifted. Brent crude futures were up 32 cents, or 0.4%, at $72.54 a barrel […]

09 Jun 21

Global GDP to surpass pre-pandemic level by mid-2021, OECD says

TOKYO — The global economy will grow to be bigger than its pre-pandemic level by the middle of this year, the OECD projected in an update of its outlook on Tuesday. Vaccine rollouts and fiscal policy support in recent months prompted the Organisation for Economic Co-operation and Development to raise its projections for the world […]

09 Jun 21

China ousts Taiwan as Apple’s biggest source of suppliers

TAIPEI — China now boasts more Apple suppliers than any other country, a sign that Washington’s attempt to untangle U.S. and Chinese supply chains has had little impact on the world’s most valuable tech company. Of Apple’s top 200 suppliers in 2020, 51 were based in China, including Hong Kong, according to a Nikkei Asia […]

09 Jun 21

Ready or not, new forces push Big Oil into low-carbon future

NEW YORK/LONDON/TOKYO — It took just a single day, but suddenly global oil majors face a very different outlook for the pressure they will come under to combat climate change. In a meeting that ran for three hours on Wednesday, Exxon Mobil CEO Darren Woods, sounding exhausted, eventually acknowledged the vote in favor of two […]

09 Jun 21

Japan to let banks and securities companies share customer data

TOKYO — Japan’s Financial Services Agency intends to lift the ban on sharing customer information between banks and securities companies within the same group, Nikkei has learned. The watchdog has shown financial institutions a plan which would effectively remove the regulations that have separated the operations of banks and securities companies for 30 years. The […]

09 Jun 21

MAS leaves monetary policy unchanged amid COVID-19 uncertainties, low inflation

SINGAPORE: Singapore’s central bank left its monetary policy unchanged on Wednesday (Apr 14), as widely expected, on the back of weak inflation and uncertainties from the COVID-19 pandemic. In its half-yearly monetary policy statement, the Monetary Authority of Singapore (MAS) said it is maintaining “a zero per cent per annum rate of appreciation” of its […]

09 Jun 21

Still possible for Singapore’s economy to grow 6% or more this year, economists say

SINGAPORE: There is still a possibility for Singapore to chalk up growth of 6 per cent or more this year, according to economists who do not expect the recently imposed COVID-19 curbs to throw the economic recovery off course for now. These economists have pencilled in full-year estimates of 6 per cent to 7 per cent growth, […]

13 Dec 20

EU backs hyperloop in sustainability strategy

The European Commission has identified hyperloop as a “game-changing mobility technology” in its sustainability strategy. The Sustainable and Smart Mobility Strategy – released this week – says that developing new technologies is “key to staying ahead of the curve”. The strategy outlines how the EU will reduce transit-related greenhouse gas emissions by 90% by 2050 […]