Daily Debrief: What Happened Today (Sep 9)
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Singapore's currency, the Singapore dollar, hit a 10-month high against the Malaysian ringgit on Wednesday, September 9. This rise in the currency was driven by rising US Treasury yields and risk-off sentiment, which led investors to view the city-state's currency as a regional safe haven.
In addition to this currency news, data also indicated that COE premiums across all categories saw an uptick. The Category A COE price reached an all-time high of S$133,009 in the tender exercise on the same day.
Meanwhile, in Johor Bharu, manufacturers looking to expand their operations into Malaysia are seeking guidance on establishing connections to global markets. This is due to shifting supply chains across Southeast Asia, influenced by tariff pressures and strategies such as 'China-plus-N'.
Furthermore, the Singapore government has launched a new initiative called BizSG. This whole-of-government program utilizes artificial intelligence to simplify access for Small and Medium Enterprises (SMEs) to government support and services.
Lastly, TUV SUD, a German testing and certification group, has set up a S$30 million decarbonisation centre in Singapore. This center aims to assist companies in measuring and verifying their carbon emissions and related data, thereby enhancing trust in the carbon market.
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.
