Daily Debrief: What Happened Today (Aug 26)
Stories you might have missed
Singapore's factory output growth eased to 6.8% in July, down from a revised 7.5% growth in June, according to data from the Economic Development Board. The slowdown in output growth has put the spotlight on Singapore's ambitions in asset management, with industry players calling for more clarity, speed, and workable rules in the sector as they await crucial details on eligibility and scheme operations.
In a separate development, a survey revealed that data centers in Singapore are likely to put additional strain on the country's energy supply, while simultaneously driving demand for energy storage solutions and grid upgrades. Climate Impact X, a Temasek-backed carbon exchange, is set to merge with Carbonplace, a UK-based carbon portfolio management and trading platform, pending approval from the Monetary Authority of Singapore.
Singapore Post reported a remarkable increase in its operating profit for the first quarter of the fiscal year ended June 30, with profits rising by 55.2% to S$4.1 million, up from S$2.6 million in the same period last year. Meanwhile, MedPark's assistant CEO oversees a hospital where patients and physicians take precedence over profits. The E-commerce sector is reportedly causing real commerce to decline, according to China's beverage king Zhong Shanshan.
Furthermore, the Laos-China Railway is advancing, but Laos faces challenges in capitalizing on these gains within the Southeast Asian region. Lastly, Singapore plans to establish a new Western island to support the emerging generation of industries by 2026.
Written by urgent.news from The Business Times - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
