Shares of several Singapore-listed agricultural companies fell Tuesday after Senior Minister K Shanmugam warned they cannot escape responsibility for their possible role in the haze. Bumitama Agri fell as much as 6.5%, First Resources also dropped, while Golden Agri-Resources and Wilmar International slipped almost 2%. Shanmugam said seven companies had been questioned by the Singapore Exchange and that some fire or smoke sources appear linked to First Resources, Bumitama Agri and unlisted First Borneo Plantations. Singapore will use every legal and regulatory lever, including on financing and government incentives, and could amend or introduce laws urgently if needed, while hoping for full cooperation from Indonesia.
Summary written by Upside AI from the original article. Read the source for full details.
Keywords
SingaporehazecommoditiesIndonesia
Open a keyword to see other news on the same topic.
Related news
- A ticking time bomb: An economic crisis looms in Indonesia
Indonesia's economy is under growing strain as President Prabowo Subianto's policies erode investor confidence, compounding pressures from inflation, fuel shortages, the war in Iran and US tariffs. MSCI warned it could drop Indonesia from its benchmark indexes, sending stocks down more than 11% in one day, their biggest drop since the 1998 Asian financial crisis, with a further 3.6% fall on Monday. The middle class has shrunk about 19% from its peak and youth unemployment hovers around 17%, leading experts to warn of the country's most combustible moment since 1998. Investor concerns also center on a free-meal programme for over 80 million students that could cost up to US$30 billion a year, pressure on the rupiah and questions over government transparency. Because Indonesia is the world's largest producer of palm oil and nickel, an economic crash could disrupt global supply and push up food, consumer goods and energy prices.
- Some Observations on the AI Economy & Monetary Policy - Remarks by Mr Edward S . Robinson , Deputy Managing Director ( Economic Policy ) & Chief Economist , Monetary Authority of Singapore , at the 2026 Beijing Financial Street Forum on 20 October...
A speech by Edward S. Robinson, Deputy Managing Director and Chief Economist of the Monetary Authority of Singapore, argues that the AI investment boom is a major force sustaining global demand, while productivity gains verified from the technology remain limited so far. He describes an era of more frequent and overlapping shocks, including the Middle East conflict that began in end-February and became a global energy shock, which test economies' capacity to absorb disruptions. Despite this, world merchandise trade is estimated to have grown 2.4% in 2025 as firms diversified sourcing, and AI-driven electronics account for over 70% of Asia's export growth this year. The speech says strength in AI-producing sectors mainly reflects capital accumulation and higher capital utilisation rather than broad total factor productivity gains. Drawing on the history of electrification, it suggests economy-wide productivity benefits take time and depend on the breadth of adoption, complementary investment in skills and infrastructure, and organisational change.
- Singapore opens door to foreign stablecoins under tighter rules
The Monetary Authority of Singapore proposed on 1/9 to allow stablecoins jointly issued by Singaporean and foreign companies, and to recognise certain foreign stablecoins already licensed overseas if the issuer’s regulator has a cooperation agreement with Singapore. The proposed rules are stricter, requiring issuers to freeze and remove stablecoins linked to illegal activity, prepare for financial difficulties, run quarterly stress tests and not pay interest to holders. Experts expect licensed payment firms such as StraitsX and Paxos to have an advantage, while banks may be deterred because they must set up separate nonbank companies to issue stablecoins. Several details remain unresolved, including minimum cash reserves, issuance limits and identity checks for holders, and the Payment Services Act of 2019 may need amendment.
- CBUAE, Monetary Authority of Singapore discuss cooperation in digital payments, green finance
The Central Bank of the UAE (CBUAE) held a bilateral meeting with the Monetary Authority of Singapore (MAS) on the sidelines of the 2026 IMF and World Bank Annual Meetings in Bangkok to deepen cooperation. CBUAE Assistant Governors Ebrahim Obaid Al Zaabi, Ahmed Saeed Al Qamzi and Mohamed Hussain Al Marzooqi met MAS Deputy Managing Director Leong Sing Chiong and other senior officials. The sides discussed central bank digital currencies, cross-border trade and settlement, cross-border QR code payments, green finance and climate-related financial risk, building on a 2009 memorandum of understanding. Al Qamzi said the partnership, which spans more than 17 years, will expand into cross-border payment and settlement solutions to facilitate trade and investment between the two countries.
- Indonesian markets inch up after authorities move to stem rout on MSCI expulsion fears - Markets
Jakarta's benchmark index rose 3% after hitting a six-year low in the previous session, following a 14.8% drop over Friday and Monday. A record US$82 billion two-day rout followed index provider MSCI's warning that it may move Indonesia from emerging markets to standalone status. To curb the selloff, the stock exchange halved the daily down limit to 7% from 15% and set a Rp 1 down limit on shares priced at Rp 14 or less. The rupiah strengthened slightly to 18,010 per US dollar but remained near the record low of 18,190 hit in June. Fitch's George Xu said the announcement had no material immediate credit implications, though external pressure could raise government borrowing costs.
- Bank Indonesia faces mounting pressure to hike after MSCI threat fuels market rout
Bank Indonesia faces pressure to raise rates at Wednesday's meeting after MSCI said it may move Indonesia to standalone status from emerging-market status, triggering a selloff in stocks and the rupiah. Citibank now expects a 50 basis-point hike to 6.25%, while Capital Economics and Permata Bank expect 25 basis points to 6%, from the current 5.75%. The rupiah weakened to 18,030 per dollar, near its June record low and down about 8% this year. Permata's chief economist Josua Pardede estimates foreign investors have net sold about $5 billion of Indonesian stocks this year, and a downgrade could bring $3 billion to $5 billion in passive outflows plus $15 billion in actively managed money under review. He warns that lasting doubts about market integrity could raise Indonesia's cost of capital.
Related markets
Latest news
- Sophon sets Nov. 25 withdrawal deadline ahead of mainnet shutdown
Sophon has set a November 25 deadline for users to withdraw their assets before it shuts down its mainnet, with key infrastructure and related websites going offline that day. Assets left on the Sophon Chain could become permanently inaccessible, so users are asked to withdraw SOPH, ETH, USDC and other assets and claim any outstanding staking or Guardian rewards. In June, developers said maintaining a standalone blockchain no longer justified its benefits and shifted focus to consumer finance and AI applications on Base. The shutdown follows Abstract’s announcement that it will close on December 15 after Igloo lost tens of millions of dollars supporting the network.
- Russia refuses to buy Chinese electricity despite delays in building Far East hydropower plants
Russian Deputy Energy Minister Pyotr Konyushenko told TASS that Russia has no plans to buy electricity from China. He said reverse power flow from China is not on the agenda and that the ministry considers such supply unfeasible, though it is technically possible since cross-border lines currently mainly carry power from Russia’s Far East to northeast China. Even if delays to Far East hydropower plants leave the region short of energy, he insisted Russia will solve the problem itself.
- High bond yields could more than double drag on US growth in 2027 : Goldman Sachs
Goldman Sachs warns that persistently high bond yields could more than double their drag on US economic growth in 2027. Under its baseline scenario, the impact is about 0.2 percentage points, but if borrowing costs stay near current levels, it would rise to just over 0.5 percentage points. Goldman expects US growth close to its potential rate of 2.3% in 2027, though the outlook could face pressure if yields remain elevated. Moody's Analytics Chief Economist Mark Zandi views the US economy as vulnerable, putting the odds of it going 'completely off the rails' at about one in three. Higher refinancing costs could also cut business investment growth by around 0.3 percentage points, while AI infrastructure spending is expected to stay healthy despite rising leverage risks.
- From France to Albania , social unrest is setting Europe streets ablaze
Protests over rising fuel costs, weak public services and a housing crisis have spread across France, Italy, Spain, Portugal and Albania, with arrests, looting and injuries reported. In France, high school students have protested for over three weeks over underfunded schools, and the weekend unrest led to 2,400 arrests, looting in Paris, Marseille, Lyon and Bordeaux, and a fire that nearly destroyed Limoges' City Hall. In Spain, tent camps protest unaffordable rents, teachers are on indefinite strike in Madrid, and a snap election is set for November after housing measures failed in Parliament. In Italy, inflation rose to 4.2% in September, above the eurozone's 3.8%, and peaceful marches were followed by riots in Turin, Bologna and Milan. The article links the unrest to upcoming elections and a critical moment in Europe's support for Ukraine.
- Seoul stocks extend losses amid AI concerns
Seoul shares fell sharply late Tuesday morning as a sell-off in major chip stocks, driven by concerns over AI-related investments, deepened losses. The KOSPI dropped 136.06 points, or 2.36%, to 5,631.95 at 11:20 a.m., after touching an intraday low of 5,493.24. Samsung Electronics fell 1.03% and SK hynix dropped 2.74%, while Samsung Electro-Mechanics rose 2.48%. The won traded at 1,327.6 per U.S. dollar. In the U.S., tech shares rebounded from their steepest weekly drop since June, with the Nasdaq Composite gaining 1.11%, but investors remain cautious ahead of earnings from Tesla and Meta Platforms and the Nov. 3 U.S. midterm elections.
- Asian Markets Trade Mostly Lower
Asian stock markets were mostly lower on Tuesday after mixed cues from Wall Street, as elevated crude oil prices, ongoing hostilities in the Middle East and Eastern Europe, and inflation concerns pushed global yields higher. Iran continues to assert control over the Strait of Hormuz, with ship attacks more frequent than at any point in the war. Markets expect the US Fed to hold rates next week while pricing in roughly a 94% chance of a rate hike in December. Australia’s S&P/ASX 200 fell 0.72% to 8,782.00, led by miners and financial stocks, while National Australia Bank plans to cut 2,500 jobs and Ingenia Communities jumped more than 10% as it negotiates with Warburg Pincus over a $2.14 billion takeover offer. Japan’s Nikkei 225 fell 0.62% to 64,512.35 in the morning session.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.