Singapore's Sembcorp signs contracts for energy and utilities projects worth over $500 million
May 9 (Reuters) - Singapore's Sembcorp (SCIL.SI), opens new tab on Friday said it will provide gas, power and utilities solutions to Aster Chemicals and Energy for a total contract value of over S$650 million ($500.23 million).
($1 = 1.2994 Singapore dollars)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
40 minutes ago
- Reuters
Rupee's sticks to muted price action, implied volatility retreats
MUMBAI, June 11 (Reuters) - The Indian rupee ended slightly higher on Wednesday, sticking to rangebound price action for a third consecutive session on two-sided client flows and the absence of cues to firm a directional bias on the currency. The dollar-rupee pair's implied volatility, a gauge of future expectations, has receded on the back of muted moves in the currency. The 1-month gauge eased to about 4.4%, the lowest in over one month. On the day, the rupee closed at 85.51 against the U.S. dollar, up slightly from its close of 85.6025 in the previous session. Asian currencies were largely steady as well while the dollar index was hovering sideways around the 99-handle. Mild dollar sales from foreign banks helped the rupee tick higher in early trading but routine corporate dollar demand stood in the way of the local currency extending its rise, a trader at a state-run bank said. India's benchmark equity indexes, the BSE Sensex (.BSESN), opens new tab and Nifty 50 (.NSEI), opens new tab, ended slightly in the green, tracking a rise in regional equities as markets gave a guarded welcome to the latest signs of progress in trade talks between the United States and China. "The dollar remains one of the best gauges of trade sentiment. While it has held up generally well early this week, it hasn't built on the late-week momentum following the US-China meeting announcement," ING Bank said in a note. Worries about the impact of wide-ranging U.S. tariffs have weighed on the dollar this year and left it nursing losses of more than 8.5% against major peers. The focus now turns to U.S. consumer price inflation data, due later on Wednesday, which is expected to show month-on-month core consumer prices rose 0.3% in May, according to a Reuters poll, slightly higher than the 0.2% rise in the previous month.
Finextra
an hour ago
- Finextra
Native Teams introduces Gig Pay
Native Teams, the global platform for work payments, unveils Gig Pay, the end-to-end automated payroll and wallet solution engineered to turn compliance deadlines into growth drivers. 0 As global gig economy payouts approach €1 trillion and Europe alone topped €556.7 billion in 2024, set to triple by 2033, platforms face a tidal wave of new regulations all across the world. It enables gig workers to access traditional banking services, credit, and financial products — areas where freelancers and gig workers have historically been underserved. This is a development for financial institutions, regulators, and the millions of workers whose livelihoods depend on the gig economy. 'Manual pay runs and ad-hoc spreadsheets are extinct in the face of today's regulatory maze,' said Jack Thorogood, CEO of Native Teams. 'Whether you're adapting to the EU's Platform Work Directive or contractor laws in California or Brazil, Gig Pay provides a single place to onboard at scale, deploy locally compliant contracts, run multi-jurisdiction payroll, and pay gig workers instantly to their wallets.' Regulation meets automation In December 2024, the EU's Platform Work Directive introduced a presumption of employment, algorithmic transparency requirements and quarterly workforce reporting, leaving platforms scrambling to avoid fines of up to €1 million per breach. In the U.S., the Labour Department's January 2025 rule narrowed 'independent contractor' definitions, increasing back-pay risk for non-compliant operators. Latin American jurisdictions from Brazil to Mexico have enacted new telework and social security mandates, while Asia-Pacific markets roll out digital nomad visas and subsidies for gig workers. Simplified experience for aggregators & workers Gig Pay lets aggregators bulk-import driver or contractor data via CSV, deploy smart, locally compliant contracts with e-signatures, and process earnings from multiple gig platforms into one streamlined payroll run. Customisable fee structures and batch transfers eliminate manual errors, while real-time dashboards deliver actionable insights. For gig workers, the mobile-first app consolidates earnings from Uber, Bolt, Glovo, Wolt and others, offers instant partial withdrawals to virtual or physical Native Teams cards, and generates invoices automatically. Built-in KYC, sick leave requests and an in-app help centre ensure a frictionless user journey, leading to stronger worker retention. After 13 months of development and piloting in different regions Gig Pay is now available in over 30 countries across Europe, North America, Latin America, and Asia-Pacific. Pilot case study Early adopters are already reaping the benefits. Hypefy, an AI-powered influencer-marketing platform, transitioned from manual PayPal and wire transfers to Gig Pay. The results speak for themselves: • Reduced administrative time by 300%, allowing rapid global scaling without expanding the finance or legal team. • Expanded operations from 1 to 28 countries across Europe and the U.S., with just one person managing all contractor payments. • Improved worker satisfaction and retention through transparent, instant payments. 'Native Teams enabled us to scale globally - something we couldn't have achieved without them. Worker satisfaction significantly improved due to transparency and instant payments. Compliance risks were minimised across all regions,' said Filip Spiranec, Hypefy's co-founder, underscoring how automation can defuse compliance risks while accelerating growth.
Time Out
3 hours ago
- Time Out
Turbulence ahead for budget travel? Jetstar Asia grounded by rising costs
Singapore has long been a top destination for travellers from Bangkok, thanks to its proximity and diverse attractions. Just two hours away by air, the city-state offers everything from world-class shopping and dining to cultural landmarks. Likewise, many Singaporeans regularly visit Thailand, making the connection between the two nations strong. So, it may come as a surprise that low-cost carrier Jetstar Asia will cease operations from July 31. The airline cited rising supplier costs, increased airport fees, soaring aviation expenses, and heightened regional competition as reasons for the decision. The closure impacts 16 intra-Asia routes, including flights between Singapore and Bangkok. However, Jetstar Airways and Jetstar Japan services within Asia remain unaffected. Since launching in December 2004, Jetstar Asia has been a popular choice for affordable travel between the two cities, operating up to 28 weekly round trips at its peak. Its Airbus A320 fleet catered to strong demand from both leisure and business travellers. While airlines like Scoot, Singapore Airlines and Thai Airways will continue to serve this busy route, the loss of 28 weekly flights may reduce seat availability in the short term. This could lead to slightly higher fares on budget routes until other carriers step in to fill the gap.
