Economy

Siemens launches revamped advanced manufacturing centre to support SMEs, train talent

SINGAPORE – Siemens has opened its doors to small and medium-sized enterprises (SMEs) in Singapore and beyond to help them upgrade their capabilities and develop new or improved products and solutions. The German multinational conglomerate unveiled on Friday (Nov 12) its revamped and newly expanded Advance Manufacturing Transformation Centre, dubbed AMTC 2.0, that will showcase […]

Business

U.S. factory orders unexpectedly rise in September

WASHINGTON (Reuters) – New orders for U.S.-made goods unexpectedly rose in September, though manufacturing remains constrained by input shortages.FILE PHOTO: A welder works while building a bus frame at the BYD electric bus factory in Lancaster, California, U.S., July 1, 2021. REUTERS/Mike BlakeThe Commerce Department said on Wednesday that factory orders increased 0.2% in September. […]

Economy

Asian factories shake off lockdown blues, now face supply headaches

TOKYO (REUTERS) – Asia’s manufacturing activity grew last month as emerging economies saw Covid-19 infections subside, but rising input costs, material shortages and slowing Chinese growth cloud the outlook, business surveys showed on Monday (Nov 1). Policymakers in the region face pressures on multiple fronts as they steer their economies out of the pandemic-induced doldrums […]

Economy

Troubles in China's 'Christmas town' mean higher holiday prices

BEIJING (BLOOMBERG) – This year, the Chinese city of Yiwu – the world’s biggest hub for the manufacture of plastic reindeer, twinkle lights and other Christmas paraphernalia – is feeling a Grinch-like pinch. Factories are being hit by a shortage of raw materials that’s raising their production costs, and once goods are on their way […]

Business

U.S. manufacturing sector grows moderately; prices paid at record high-ISM

WASHINGTON (Reuters) – U.S. manufacturing activity grew at a moderate pace in June, but employment contracted for the first time in seven months, likely because of rampant shortages of raw materials and labor.FILE PHOTO: Masks are produced at United Safety Tech, a startup that is poised to open a new N95 mask factory in La […]

Economy

S'pore semiconductor firms boost capacity amid global chip crunch

SINGAPORE – Local players in the semiconductor industry are ramping up production capacity amid a worsening global chip shortage sparked by high demand from consumer electronics and automobile firms. Singapore Semiconductor Industry Association (SSIA) executive director Ang Wee Seng told The Straits Times that the high demand is forecast to continue into next year with […]

Economy

Singapore factory activity expands in April at fastest pace since December 2018

SINGAPORE – Singapore saw its overall manufacturing activity expanding in April at the fastest pace in more than two years, aided mainly by gains in new orders, new exports, and employment. However, analysts said uncertainty about the new variants of Covid-19 poses downside risks to the outlook. The Singapore Purchasing Managers’ Index (PMI) rose for […]

Economy

Suez Canal jam may further strain Singapore manufacturers amid shipping container shortage

SINGAPORE – The shortage of shipping containers, which has hit Singapore manufacturers in recent months, may be exacerbated by the jam at the Suez Canal. Shipping container costs have already jumped from anywhere between 20 to 200 per cent amid disruptions stemming from the Covid-19 pandemic, industry players told The Straits Times. Please subscribe or […]

Economy

Singapore factory activity expands for 8th straight month in February but at slower pace

SINGAPORE – Singapore’s manufacturing sector continued growing as factory activity recorded an eighth straight month of expansion in February, though at a slightly slower rate. The Singapore Purchasing Managers’ Index (PMI) – a key measure of factory activity – inched down to 50.5 from 50.7 on January, according to data released on Tuesday (March 2). A […]

Economy

China factory activity expands at slower pace in December

BEIJING (REUTERS) – China’s factory activity expanded in December but at a slower pace, as the country leads a pack of major economies emerging from the coronavirus slump. The official manufacturing Purchasing Manager’s Index (PMI) fell to 51.9 in December from 52.1 in November, data from the National Bureau of Statistics (NBS) showed on Thursday […]