Oil steadies after report of planned Opec+ August output hike
[HOUSTON] Oil prices edged up slightly on Friday (Jun 27), recovering from a midday drop into negative territory following a report that Opec+ was planning to hike production in August, but tumbled about 12 per cent in the week in their biggest drop since March 2023.
Brent crude futures settled at US$67.77 a barrel, up four cents or 0.1 per cent. US West Texas Intermediate crude finished up 28 cents or 0.4 per cent at US$65.52 a barrel.
Four delegates from Opec+, which includes allies of the Organization of the Petroleum Exporting Countries, said the group was set to boost production by 411,000 barrels per day in August, following a similar-size output increase already planned for July.
'The report about an Opec increase came out and prices cratered,' said Phil Flynn, senior market analyst with Price Futures Group, about the midday slide.
Crude prices were already headed for a 12 per cent decline for the week following the ceasefire between Israel and Iran.
During the 12-day war that started after Israel targeted Iran's nuclear facilities on Jun 13, Brent prices rose briefly to above US$80 a barrel before slumping to US$67 a barrel after US President Donald Trump announced an Iran-Israel ceasefire.
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'The market has almost entirely shrugged off the geopolitical risk premiums from almost a week ago as we return to a fundamentals-driven market,' said Rystad analyst Janiv Shah.
Flynn said expectations of higher demand in the coming months gave crude a boost earlier on Friday.
'We're getting a demand premium on oil,' Flynn said.
Prices had also been supported earlier in Friday's session by multiple oil inventory reports that showed strong draws in middle distillates, said Tamas Varga, a PVM Oil Associates analyst.
US government data on Wednesday showed crude oil and fuel inventories fell last week, with refining activity and demand rising.
Meanwhile, data on Thursday showed that independently held gasoil stocks at the Amsterdam-Rotterdam-Antwerp refining and storage hub fell to their lowest in over a year, while Singapore's middle distillates inventories declined as net exports climbed week on week.
Additionally, China's Iranian oil imports surged in June as shipments accelerated before the Israel-Iran conflict and demand from independent refineries improved, analysts said.
China is the world's top oil importer and biggest buyer of Iranian crude. It bought more than 1.8 million barrels per day of Iranian crude from Jun 1 to 20, according to ship-tracker Vortexa, a record high based on the firm's data.
The US oil and natural gas rig count, an early indicator of future output, fell for a fourth straight month to its lowest since October 2021, Baker Hughes said. The number of oil rigs fell by six to 432 this week, also the lowest level since October 2021. REUTERS
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AsiaOne
5 hours ago
- AsiaOne
9 free budgeting apps to help you manage your expenses (2025), Money News
It's 2025, and if you're not using budgeting apps, you're missing out on a world of convenience when it comes to tracking your spending. Whether you're looking for a basic app or want one that's packed with features, there's bound to be an app for you. Forget trawling through Excel spreadsheets. Simply enter your expenses into an app — or better yet, link your bank account and let the app do the tracking for you! You'll find out at a glance how much money you'll need for your upcoming holiday or home purchase. Goodbye tedious spreadsheets, hello sleek interfaces. Oh, and did we mention that all the apps featured in this list are free, or include a free version? With a plethora of apps out there, it's never been easier to make a budget and stick to it. TLDR; here's a comparison of the best budgeting apps in Singapore App name Best for Bank account syncing Subscription fees to upgrade to paid plans Household Account Book Budgeting newbies who love cute cartoons No, manual entry required Free Spendee Multi-wallet & currency budgeting Yes with Premium plan, otherwise manual entry with Free and Plus plans S$2.98/month (Plus), S$8.98/month (Premium) Dollarbird Calendar-based forecasting with collaboration No, manual entry required Pro: US$4.99/month (S$6.38) or US$39.99/year (S$51.16) Pro Unlimited: US$6.99/month (S$8.94) or US$59.99/year (S$76.74) Dobin Loans, credit card rewards, smart financial tracking Yes Free Money Manager Feature-packed budgeting with charts & calendars No, but you can arrange automatic debit for credit or debit card bills by linking your card. Free, or S$8.98 one-time (Premium) Monny Gamified budgeting with cute design No, manual entry required Free, or S$3.98 one-time (Premium) MoneyNote No-login, no-frills budgeting No, manual entry required Free Fortune City Budgeting gamified as a city-building sim No, manual entry required Free YNAB Structured budgeting with expert support Yes US$14.99/month (~S$19.18/month) or US$109/year (~S$139.48/year) (after 30-day free trial) 1. Household Account Book - for budgeting newbies who love cute cartoons If you're a fan of cutesy stuff, Household Account Book wins for its adorable cartoon illustrations featuring its mascot Pisuke. The app is pretty simple to use; enter your income and expenses to see how much money you have at month's end. You can also see a breakdown of your expenses in pie chart form. One quirky feature of the app is a comic of two friends on their savings journey — the more you use the app, the more of the comic you can read. Plus, it even offers downloadable wallpapers for your phone. This is a great choice if you're looking for a user-friendly app that's not overly complicated. Why we like it: A cute mascot that encourages us to track our expenses daily. What we dislike: Needs more functions, such as an option to export data to excel or sync your bank account. 2. Spendee - manage unlimited wallets effortlessly on-the-go Spendee's free plan is ideal if you're just getting started and want to manually log your income and expenses. It gives you access to a single cash wallet and lets you categorise your spending to track where your money's going. However, bank account syncing is not available with this plan. Upgrade to Spendee Plus at $2.98/month to unlock more flexibility: Create unlimited cash wallets for different purposes (e.g. travel, events, hobbies) Manage multiple currencies — handy if you travel or spend across countries Share wallets with a partner or family member Set and monitor custom budgets for better financial discipline Connect crypto and e-wallets (like PayPal) If you want to fully automate your tracking, go for Spendee Premium at $8.98/month. This tier includes everything from Plus, but adds the ability to: Sync with your bank accounts directly Automatically import and categorise transactions Get a holistic, real-time view of your financial health Whichever plan you choose, you'll get a 7-day free trial to explore the premium features before committing. Why we like it: Easy and intuitive user interface, plus comes with bank account syncing, multi-wallet and currency support. What we dislike: The lack of widget support means you can't update your expenses as easily (e.g. from the lock screen). 3. Dollarbird - calendar-based budgeting with a touch of AI Dollarbird makes budgeting feel as intuitive as updating a calendar. Its visual-first, timeline-based layout helps you track your expenses day by day, while giving you a forward-looking view of your finances. What really sets Dollarbird apart from other budgeting apps is how intelligently it handles your money data. Its automatic balance forecasting doesn't just reflect your past spending — it actively learns from your habits to predict how your finances will evolve over time, helping you plan ahead with greater confidence. The app also features AI-assisted categorisation that becomes more accurate the more you use it, saving you time by sorting your transactions intuitively. On top of that, Dollarbird supports built-in collaboration, so you can manage shared finances with your partner, family, or team without the confusion of separate tools or spreadsheets. You'll also get: A clean calendar interface to log transactions Real-time daily/monthly balance updates Cloud sync across all devices Note that bank account syncing is not currently available for Dollarbird. Their argument is that manually inputting your spending makes you more aware of it. Here's how the pricing compares: Plan Price (Monthly) Price (Yearly) Calendars Team Members Pro US$4.99 (S$6.38) US$39.99 (S$51.16) 20 3 Pro Unlimited US$6.99 (S$8.94) US$59.99 (S$76.74) Unlimited Unlimited Business Contact for pricing Contact for pricing Unlimited Unlimited Why we like it: The AI-powered forecasting and categorisation tools are genuinely useful, and its shared-calendar format makes it perfect for joint budgeting. What we dislike: You'll need a subscription early on to get the most value. While you can try the app for free, core features like collaboration, syncing, and forecasting are only available with a paid plan. 4. Dobin - Track and compare credit cards rewards, compare loans Singapore-based Dobin aims to help you save, spend and track your expenses better through AI and data analytics to ensure you have a clear view of your finances. The free app links your accounts and cards, automatically tracks your spending, and sees your monthly expenditure so you can spend smarter and adjust your goals accordingly. It's not just a budgeting app though. Based on all that data on your financial habits, Dobin's credit card recommendation tool can help you find a credit card that's suitable for your needs. Dobin also collates and categorises thousands of discounts from brands, saving you precious time searching for shopping deals. An app that not only budgets for you but also aggregates deals and credit card promotions — what's not to like? Additionally, Dobin can also help you fund big-ticket purchases by giving you access to personalised loan offers from trusted banks and lenders. Use the app to compare loan options and find the best rates and terms for your needs. To boost your chances of approval, you can securely share your financial data through the app-making the application process smoother and smarter. Why we like it: You get p ersonalised credit card and loan recommendations tailored to your financial situation. Plus, the app is completely free — Dobin makes money through commissions from merchants and financial institutions when you use a discount or apply for a new credit card or loan. What we dislike: Transactions are not shown in real-time. Refresh your accounts to see the most recent transactions. 5. Money Manager - efficient and feature-packed With its simple, no-frills interface, Money Manager is ideal if you're looking to budget efficiently with minimal fuss. Its double-entry bookkeeping system records all transactions across your accounts while its handy calendar view lets you review your spending weekly or monthly. Clear and organised charts show categorised spending breakdowns like loans and insurance, and you can set budgets for each category. You can also arrange automatic debit for credit or debit card bills by linking your card. You also have the ability to edit currency exchange rates and delete your autocomplete history. The free version comes with plenty of features already, while the paid version ($8.98) requires you to make a one-time in-app purchase for lifetime use. This paid version gets you no ads, access to the PC version for web use, and unlimited assets. On the free version, your assets are limited to 15. Why we like it: Ability to link your card means you don't have to manually track every spending. What we dislike: There are a bit too many ads if you're using the free version. 6. Monny-Gamify your budgeting journey Let's face it, budgeting isn't the most fun activity. Enter Monny, with its friendly namesake bunny mascot and whimsical graphics of an enchanting theme park that is guaranteed to make budgeting more pleasant. Playful appearance aside, the app's simple dashboard that monitors expenses, comprehensive reports and customisable accounts make managing your finances, dare we say, a delightful experience. One possible disadvantage is that bank account syncing is not available, so you'll need to key in your expenses manually. Some with data privacy concerns might feel this is more secure, but others might find this troublesome and more effortful. Unlock the premium version with a one-time purchase ($3.98) to access charts of your top 10 expenses, annual spending trends graphs and pie charts of your monthly spending broken down by category. Plus, you'll have an ad-free experience and passcode lock as an added security feature. Why we like it: Budgeting feels less like a chore when you are playing a game while doing it. What we dislike: Most of the features are locked behind the paid version. 7. MoneyNote - no registration or sign-ups required Hailing from Japan, MoneyNote is a simple household account book app designed to be as easy and hassle-free to use as possible. There's no need to register and no in-app purchases to make — all app features are free. Log your expense or income on the input screen and it automatically creates calendars and reports. Generate annual and monthly analysis reports to learn your average monthly expenses and percentage for each category. You can also set fixed expenses and income, and export your reports as CSV files. Plus, if you're all about aesthetics (maybe you arrange your apps by colour gradient), you'll love that MoneyNote offers 20 vibrant themes and 25 app icons for endless customisation. Why we like it: All the app features are free! Plus, the ability to export reports as CSV files makes it convenient to transfer your reports between devices. What we dislike: There's no way to directly link your bank account, which makes manual input the only option for tracking your expenses. 8. Fortune City - bookkeeping meets city-building fun Fortune City turns budgeting into a fun and engaging experience by blending financial tracking with a city-building simulation. You can monitor your balance weekly, monthly, or seasonally, and use advanced search functions to gain insights into your spending habits. As you record your income and expenses, your city grows and flourishes into a beautiful metropolis. This gamified approach helps you develop good habits, while the intuitive interface makes it easy to track spending and categorise transactions with just a few taps. Plus, you get to compete with friends to see who has the most prosperous city and rise through the ranks, giving you more reasons to chase after those financial gains. Why we like it: You can visually track the improvement of your spending habits over time as your city grows. What we dislike: User interface might be confusing at the start, due to its nature of both being a game and a budget tracker. The dual-nature also means the tracking part isn't as developed as other more serious budgeting apps, so there's no way to link your bank account. 9. YNAB - making the most out of your dollar Short for You Need A Budget, YNAB is more than a budgeting app — it aims to change the way you approach your finances. At its core is the principle of giving every dollar a job, which means assigning each dollar a savings goal. This helps you prioritise your spending and provides a buffer for unexpected expenses. Its intuitive interface makes it easy to set and maintain budgets, track spending in real-time and adjust goals as needed. You can either add transactions manually or link accounts to see the big picture of your finances. If you have loans, the app calculates the time and interest you save with every dollar paid, helping you to spend mindfully and live within your means. YNAB stands out from the other apps on this list by offering tons of resources including a dedicated support team, live workshops, online tutorials, guides and more — truly an encouraging buddy on your financial journey. Here's the main con of YNAB: It's only free for 30 days. After this trial period ends, you need to be on a subscription to continue using the app. So it isn't actually a free app, but we're including it because of its popularity and rave online reviews. No harm trying it out! Monthly Plan: US$14.99/month (~S$19.18) Annual Plan: US$109/year (~S$139.48/year)-that's US$9.08/month, or ~S$11.62/month Why we like it: The integration of online tutorials and workshops makes it feel more useful than just a simple budget tracker. What we dislike: As mentioned, it's not a totally free app beyond the initial 30 days. [[nid:719050]] This article was first published in MoneySmart .
Straits Times
6 hours ago
- Straits Times
Sandal scandal: Prada credits new design's Indian legacy amid furore
Luxury fashion powerhouse Prada has acknowledged the ancient Indian roots of its new sandal design. PHOTO: AFP NEW DEHLI/MILAN - Luxury fashion powerhouse Prada has acknowledged the ancient Indian roots of its new sandal design after the debut of the open-toe footwear sparked a furore among Indian artisans and politicians thousands of miles from the catwalk in Italy. Images from Prada's fashion show in Milan last weekend showed models wearing leather sandals with a braided design that resembled handmade Kolhapuri slippers with designs dating back to the 12th century. A wave of criticism in the media and from lawmakers followed over the Italian brand's lack of public acknowledgement of the Indian sandal design, which is named after a city in the western state of Maharashtra. Mr Lorenzo Bertelli, son of Prada's owners, responded to the sandal scandal in a letter to a trade group on June 27 recognising their Indian heritage. 'We acknowledge that the sandals... are inspired by traditional Indian handcrafted footwear, with a centuries-old heritage,' Mr Bertelli, Prada's head of corporate social responsibility, wrote in the letter to the Maharashtra Chamber of Commerce, seen by Reuters. The sandals are at an early stage of design and it is not certain they will be commercialised, but Prada is open to a 'dialogue for meaningful exchange with local Indian artisans' and will arrange follow-up meetings, he wrote. A Prada spokesperson issued a statement acknowledging the sandal's inspiration from India, adding the company has 'always celebrated craftsmanship, heritage and design traditions'. Prada products are beyond the reach of most Indians. Its men's leather sandals retail for US$844 (S$1,077) and up, while the Kolhapuri slippers, sold in Indian shops and street markets, start at about US$12. India's luxury market is small but growing fast, with rising numbers of rich people buying Louis Vuitton bags, Lamborghini cars, luxury homes and watches. Conversely, Indian culture and crafts are increasingly finding their way into global brand designs. High-end jeweller Bulgari offers a US$16,000 Mangalsutra necklace inspired by a chain traditionally worn by married women. Bertelli's homage to Indian design was sent in a response to a complaint from the head of the trade group that represents 3,000 Kolhapuri sandal artisans, as the online uproar gathered momentum. 'From the dusty lanes of Kolhapur to the glitzy runways of Milan... will the world finally give credit where it's due?' India's DNA News posted on X. Mr Sambhaji Chhatrapati from the Kolhapur Royal family told Reuters by phone he was upset that craftsmen had not been acknowledged for the 'history and heritage of 150 years'. Kolhapur-based businessman Dileep More, however, said images of the Prada sandal were bringing cheer to some artisans as they show their traditional product going global. 'They are happy that someone is recognising their work,' he said. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
AsiaOne
9 hours ago
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Trump dismisses reports US is weighing up to $38 billion civilian nuclear deal for Iran, World News
WASHINGTON - US President Donald Trump on Friday (June 27) dismissed media reports that said his administration had discussed possibly helping Iran access as much as $30 billion (S$38 billion) to build a civilian-energy-producing nuclear programme. CNN reported on Thursday and NBC News reported on Friday that the Trump administration in recent days had explored possible economic incentives for Iran in return for its government halting uranium enrichment. The reports cited sources. CNN cited officials as saying that several proposals were floated and were preliminary. "Who in the Fake News Media is the SleazeBag saying that 'President Trump wants to give Iran $30 Billion to build non-military Nuclear facilities.' Never heard of this ridiculous idea," Trump wrote on Truth Social late on Friday, calling the reports a "Hoax." Since April, Iran and the US have held indirect talks aimed at finding a new diplomatic solution regarding Iran's nuclear programme. Tehran says its programme is peaceful and Washington says it wants to ensure Iran cannot build a nuclear weapon. Trump, earlier this week, announced a ceasefire between US ally Israel and its regional rival Iran to halt a war that began on June 13 when Israel attacked Iran. The Israel-Iran conflict had raised alarms in a region already on edge since the start of Israel's war in Gaza in October 2023. The US struck Iran's nuclear sites over the last weekend and Iran targeted a US base in Qatar on Monday in retaliation, before Trump announced the ceasefire. [[nid:719354]] Israel is the only Middle Eastern country widely believed to have nuclear weapons and said its war against Iran aimed to prevent Tehran from developing its own nuclear weapons. Iran is a party to the Nuclear Non-Proliferation Treaty, while Israel is not. The UN nuclear watchdog, which carries out inspections in Iran, has said it has "no credible indication" of an active, coordinated weapons programme in Iran.
