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Europe
BBC Business

Mayors to get powers to overrule local councils on planning decisions

Image source, PA MediaByKate Whannelpolitical reporter Published23 August 2026, 04:10 BSTUpdated 1 hour agoMayors across England will be given new powers to overrule local councils on some planning decisions. The change would apply to proposals with more than 150 homes, more than 15,000 square metres of commercial space or buildings over 30 metres. Mayors in 13 areas including Manchester, Liverpool, the West of England and the West Midlands will gain similar powers to Sir Sadiq Khan in London, who is already able to "call in" planning decisions. Housing minister Matthew Pennycook said the powers were an "essential part of the toolkit that mayors need to effectively deliver new homes and regeneration". The Conservatives questioned whether it was right for councils to lose the "ability to make planning decisions in their own communities". The powers will also be available to mayors in the Combined Authorities in North East England, South Yorkshire, West Yorkshire, York and North Yorkshire, Hull and East Yorkshire, Greater Lincolnshire, Cambridgeshire and Peterborough, East Midlands, and Tees Valley. Paul Bristow, the Conservative mayor of Cambridgeshire and Peterborough, told BBC Breakfast that if he had local powers, he would approve "tomorrow" a couple of blocked schemes that he said would "get new homes built that families could move into and charge economic growth". Bristow said "it's not about overriding what local people want", but about developers and councils finding a compromise on projects instead of just saying no - which he believed the "perceived threat of intervention" would help. In London, where Khan already has the power to review decisions on certain developments, external, housebuilding has fallen in recent years. But Pennycook insisted the "call in" powers had helped the mayor "unblock strategic growth sites" in the capital. Bristow said if he had a similar local plan it would be "much more light touch" than London. In the 2024 general election, the Labour government promised to build 1.5 million homes in England by the end of the decade, but housebuilders have warned the target could be missed. Pennycook said the government was "absolutely determined to stick with that ambition".

Mayors to get powers to overrule local councils on planning decisions
Asia
The Hindu BusinessLine

What should investors do about Pricol’s shares after the recent rally

We had given an ‘accumulate’ call on automotive instrument cluster leader Pricol, about a year ago. Its shares were trading at ₹460 then. Now they trade at ₹770, at about 6 per cent below the all-time high of ₹822 hit on August 20, 2026. At current price, the stock has delivered returns of almost 70 per cent since our call. Business and earnings have expanded strongly in FY26 and in Q1 FY27, supported by robust vehicle demand following GST rationalisation. Pricol’s recently acquired (late FY25) business of polymer products is doing as well as the core business. The company has won multiple orders to supply instrument clusters to some of the best-selling models in the market. Capital expenditure of about ₹700 crore is also in the pipeline (for perspective, fixed assets turnover ratio was around 4x in FY26). Besides, Pricol’s board has also approved the demerger of the instrument cluster business (DICVS) from the other businesses, and this may have some potential to unlock value. All in all, the future looks promising for the company. The stock now trades at 35x trailing earnings and at about 22x based on our estimated earnings for FY28. The valuation is not expensive per se, given the growth opportunity. However, considering the prevailing macro pressure on equities and the inherent cyclicality of the auto sector, we believe there is a good case for risk-averse investors to pocket some of the gains and retain the rest to participate in any future upside that may be left in the stock. Before proceeding, here’s a refresher on Pricol’s business. The company has three verticals namely, driver information and connected vehicle solutions (DICVS); actuation, control and fluid management systems (ACFMS); and the recently acquired precision products vertical (P3L or polymer business). The three verticals account for roughly 60, 20 and 20 per cent of revenue. Under DICVS, the company manufactures LCD and TFT-based instrument clusters, fuel level sensors and telematics. Under ACFMS, it manufactures oil, fuel and coolant pumps, disc brakes and handlebar parts such as switches, brake/clutch levers. Under P3L, it manufactures engineered plastic parts that find use in body panels and dashboards among others. Pricol reported strong revenue and profit growth of around 50 per cent each in FY26. Three-year compounded growth (between FY23 and FY26) of revenue and profit work out to 27 per cent and 35 per cent, respectively. As the effect of the acquisition faded, revenue and profit growth moderated to 23 per cent and 35 per cent in Q1 FY27 — which is still strong. Though Q1 EBITDA margin appears to be in line with that in FY26, management revealed that it came under pressure. The West Asia crisis led to a spike in input costs, particularly for polymers, LPG and freight. The ongoing AI mania sent prices of chips and child parts used in instrument clusters soaring. Given the higher scale of operations in the quarter, management admitted the lost opportunity of achieving EBITDA margin of up to 2 percentage points more than what was reported. This may be the case in FY27, as long as the supply crunch prevails. However, a part of this inflation is recoverable from OEM customers. Further, Pricol had tied up with Hong Kong-based BOE Varitronix to backward integrate the production of TFT backlight modules. The production of these modules will likely begin towards the end of FY27 and aid margin from FY28. Over the last two years, Pricol has won orders to supply instrument clusters and other parts for some of the best-selling models. These include Tata’s Sierra, Punch, Tiago and Altroz, TVS’ Jupiter, Ntorq and iQube, Suzuki’s Access, Bajaj’s Chetak, 3-wheelers and its Pulsar range. Since acquiring the polymer business from the TVS group, which largely served the TVS Motor Company, Pricol has onboarded new customers including Ather, River, Raptee, Simple Energy, Honda and Royal Enfield, with a Yamaha deal in closing stages. However, that business is currently constrained by capacity . This has even led to the company turning down a few deals that came its way. Along with a capex allocation of ₹300 crore for DICVS and ACFMS verticals, it has allocated ₹400 crore for the P3L vertical. This ₹700-crore capex is expected to be incurred over the next 18-24 months. Once completed, management expect the P3L vertical should be capable of generating a maximum revenue of ₹2,000 crore a year, from about ₹870 crore in FY26. Revenue from the fairly new disc brakes and switches under ACFMS is expected to ramp up from FY28. Pricol currently supplies disc brakes to an Indian OEM, though. Overall, the management is upbeat on outgrowing the underlying auto market and is looking to double revenue to ₹8,000 crore by FY31. In late June, Pricol’s board approved the spin-off of the DICVS vertical into ‘Pricol Autotech’. Shareholders will receive one share of Pricol Autotech for every share in Pricol. Key stages such as approval of NCLT and shareholders are pending. The demerger is expected to be complete in the next four quarters. Today, the instrument cluster is a rapidly evolving product. It now integrates entertainment, navigation, over-the-air updates and climate control besides vehicle information. A three-screen ‘coast-to-coast’ setup is a common sight these days. Though Pricol is capable of manufacturing such ‘e-cockpits’, market leaders such as Continental, Nippon Seiki and Visteon operate on an exponentially higher scale. This limits Pricol’s ability to procure child parts cheaply. The management believes the demerger can help onboard tech partners who can also share business with Pricol alongside other benefits such as focused decision-making, capital allocation and value unlocking.

What should investors do about Pricol’s shares after the recent rally
Asia
The Hindu BusinessLine

Sealmatic Positioned to Support India’s Expanding Nuclear Energy Programme with Indigenous Mechanical Seal Technology

India’s ambitious nuclear energy expansion is creating a significant long-term opportunity for specialised mechanical seal manufacturers, with Sealmatic India Ltd. positioned to support the country’s growing requirements through its nuclear-qualified manufacturing capabilities, specialised engineering expertise and indigenous mechanical seal technology. India’s nuclear sector is driving increasing demand for high-technology mechanical seals used in critical reactor and associated pumping systems. Although mechanical seals may not receive the same visibility as major equipment such as reactors, pumps and turbines, they perform a vital role in ensuring the safe, reliable and continuous operation of nuclear power plants. Mechanical seals are employed in critical systems including primary coolant, reactor coolant, auxiliary feedwater and emergency core cooling pumps, where reliability and operational integrity are of paramount importance. Unlike conventional industrial mechanical seals, nuclear mechanical seals require specialised engineering capabilities, extensive testing, rigorous qualification and stringent approvals before a supplier can enter the nuclear supply chain. These demanding requirements create a significant barrier to entry while also establishing a high level of confidence in suppliers that successfully meet the qualification requirements. The opportunity for specialised sealing technology is becoming increasingly significant as India advances its nuclear expansion plans. From a current baseline of approximately 8.8 GW, the country is targeting an increase to around 22 GW by 2032, with an ambitious longer-term goal of reaching 100 GW of nuclear capacity within 20 years. As these plans translate into projects, the requirement for specialised mechanical seals and other critical components is expected to increase substantially. For Sealmatic, this represents an important long-term growth opportunity. The company has invested in the technical capabilities, quality systems and engineering resources required to participate in this highly specialised segment. Sealmatic’s participation in the nuclear sector is not a recent response to India’s nuclear expansion. The company’s nuclear journey has been supported by years of research and development and a focused effort to develop capabilities suited to the stringent requirements of nuclear applications. A key milestone in this journey was Sealmatic’s accreditation to ISO 19443 for nuclear applications, a nuclear-specific quality management standard designed to address the enhanced quality and safety requirements of the nuclear supply chain. Sealmatic has publicly identified ISO 19443 as one of its key certifications for nuclear applications. The accreditation strengthens Sealmatic’s position within the nuclear equipment ecosystem and supports its objective of supplying high-precision, indigenously manufactured mechanical seals for critical nuclear applications. The company is already supplying indigenously manufactured mechanical seals for critical nuclear applications. However, the nature of nuclear projects means that the conversion of development and supply opportunities into revenue can take time, owing to lengthy testing, qualification, commissioning and project execution cycles. Sealmatic’s nuclear opportunity also extends beyond the domestic market. The company is engaged in discussions with European equipment manufacturers, creating the potential for its nuclear sealing technology to participate in international markets as well.

Sealmatic Positioned to Support India’s Expanding Nuclear Energy Programme with Indigenous Mechanical Seal Technology
Asia
The Hindu BusinessLine

Five investor choices that matter now

Nifty 50 has been unusually range-bound and declined 2 per cent in the last two years compared with a 42 per cent return in the two years prior to this. It is quite clear that market dynamics are changing from the post-Covid years. During that phase, improving fundamentals were turbocharged by easy money and positive sentiment. However, in the last two years, support from liquidity and sentiment has been waning, reflected in flattish headline index performance with deeper pain in stocks. Close to half of Nifty-500 stocks doubled in 2022-24 compared to 18 per cent in 2024-26, and every sector gained earlier while it is not the same in the last two years (see charts). This means investing now requires a much more disciplined approach than was demanded post-Covid, when investors were rarely penalised for mistakes. The bottom line: investing discipline is paramount in the emerging market regime. Investors should evaluate their goals, investing style, sector cyclicality, diversification and rebalancing method. Investors need to define a framework in advance and follow it with consistency. One of the first distinctions investors must make is whether they are investing for a defined tactical return target or strategically for the long term. An investor may buy with the expectation of earning 20 per cent, 50 per cent or 100 per cent, anchor to a previous high price or stick to targets provided by the sell side. This should be backed by tangible foreseeable progress in the business or valuation, or by a strategic event that supports the thesis — a product launch, an improvement in asset quality, an M&A announcement or a corporate restructuring are some examples. Strategic long-term investing, on the other hand, is the time-tested method of identifying a good business, capable management and a favourable sectoral opportunity, then allowing the investment thesis to play out over a durable period. Here, there is no specific price target; you hold until things change structurally. A case in point is IT, where AI is challenging the sector’s growth assumptions that were unchallenged even two years ago. Unlike target/event-based investing, investors continue holding the stock until the original thesis holds without paying much heed to the sudden rise or fall of the stock. Large notional profits and losses must be treated as alerts to evaluate the fundamental thesis and nothing else. This behaviour is one of the main attributes of generating wealth. On the other hand, if you are a target/event-based investor, you need to be nimble. If the expected development is delayed, underwhelming or fully priced in, the expected return may not be realised. Target investing, therefore, demands monitoring and a clear exit plan. Does principal protection matter more, or do extra returns matter more to you? In trying to arrive at an answer to this, you will be able to identify whether you are a value or growth investor. Value investing is often confused with investing in low-growth, stable stocks. But in practice, value investors also chase growth but prefer paying a lower price for that growth — thereby building a margin of safety, something that Warren Buffett has termed as the three most important words in investing. Lower price refers to price paid for cash flow or its proxies (earnings, EBITDA, sales, book value) measured by PE, EV/EBITDA, price to sales or price to book value. Value investing works only if mispricing opportunities arise or if the market does not fully appreciate the growth outlook. Public sector banks delivering better performance for investors over private banks is an example of the latter. Mispricing opportunities arise from an unanticipated change in leadership (Navin Fluorine in late 2023) or regulatory/legal issues (JSW Steel in late 2025 and recently Dr. Reddy’s with semaglutide). Value investors need to be patient to wait for such mispricing, even if it means waiting for a few years. The primary red flag of value investing is that some stocks are valued lower because their growth potential is lower. An misunderstanding of business opportunities or misjudgement of growth prospects can make a justifiably low-valued stock appear to be a value pick. This can lead to underperformance despite low valuations persisting. For instance, Aurobindo trades at 25 times earnings compared with 38 times for Sun Pharma, as Aurobindo does not have the lucrative domestic franchise and is unlikely to close the valuation gap. Growth investing is easy to identify but can have a punishing downside compared with value investing. A fast-growing company is bought at a high valuation in growth investing. This also presents the main double-edged risk. Both earnings growth and valuations take a similar direction, compounding the upside or downside. If you are a growth investor, your focus must be less on valuation and more on quarterly earnings beats, market share gains or operating metrics. You will have to take a pause if and when these factors disappoint. Hospitals illustrate this. Despite trading at 40-50 times forward earnings, strong growth has supported stock performance. As the sector drives volume- and pricing-based growth with increasing insurance penetration, the theme should hold. After the choice of style comes choice of sectors - a call on cyclicality. A counter-cyclical investor looks for strong companies in sectors that are out of favour. This can resemble value investing, but the emphasis is not on low valuations; it is based on sector recovery.

Five investor choices that matter now
North America
CNBC Finance

Paramount seeks $1.88 billion bond from state AGs to cover costs of WBD merger delay

Paramount Skydance will seek to force the states holding up its merger with Warner Bros. Discovery to pay for the fees and costs associated with the delay, according to a new filing in the antitrust case Monday. Paramount is requesting a $1.88 billion bond that would be posted by the states behind the lawsuit. In July, a dozen state attorneys general led by California's Rob Bonta filed to challenge the proposed $110 billion merger between Paramount and WBD. The proposed deal would combine two storied film studios — Paramount and Warner Bros. — as well as put together a sprawling portfolio of pay-TV networks in the U.S. and streaming platforms HBO Max and Paramount+. The group of state attorneys general said in its initial filing that the merger would violate the Clayton Antitrust Act, which is the more-than-100-year-old law that prohibits anticompetitive mergers and acquisitions. In a statement from a Paramount spokesperson, the company pointed to the Clayton Antitrust Act and other federal law that calls on the plaintiffs — or states in this case — being required "to post a bond covering the potential harm from halting a transaction to litigate." "Here, every month of delay carries substantial and quantifiable financial consequences," Paramount said in its statement. In a statement in response, a representative for Bonta's office said, "Paramount went into this process with eyes wide open. They are lying in a bed of their own making." Paramount has received regulatory approvals from the Antitrust Division of the U.S. Department of Justice, as well as all other global jurisdictions needed to move forward with the merger. But last month, Paramount agreed to delay the proposed acquisition to as late as June 2027 while the state AGs' case heads to trial. Paramount long planned to have the deal closed by the end of September. The delay could prove costly for Paramount. Paramount agreed to a so-called ticking fee under the terms of the merger agreement, meaning that beginning Sept. 30 it would pay WBD shareholders an additional 25 cents per share, per quarter, until the deal closes. The amount could add up to roughly $650 million in cash value per quarter. "By the time trial concludes and the parties submit their final briefs, Paramount will have paid Warner Bros. shareholders an unrecoverable $1.3 billion in ticking fees alone," Paramount said in the filing. "Delay also threatens to nullify the regulatory approvals that Defendants have already spent months securing." "Absent security, even a complete victory on the merits would not restore a dollar of those extraordinary losses. That is precisely why federal law requires plaintiffs to provide security as a condition for receiving preliminary relief such as the court-approved order," the filing says.

Paramount seeks $1.88 billion bond from state AGs to cover costs of WBD merger delay
Asia
The Hindu BusinessLine

Lalithaa Jewellery to open stores in Malaysia, Singapore

M Kiran Kumar, Chairman and Managing Director, Lalithaa Jewellery said that while retaining focus on south India states including Tamil Nadu, Karnataka, Telangana and Andhra Pradesh, the company would also have plans for north India. | Photo Credit: SRINATH M After registering a successful Initial Public Offer (IPO), Lalitha Jewellers will now go global by opening its showrooms in Malaysia followed by Singapore, according to M Kiran Kumar, Chairman and Managing Director, Lalithaa Jewellery Mart Ltd. Addressing a media conference here on Saturday, he said while retaining focus on south India states including Tamil Nadu, Karnataka, Telangana and Andhra Pradesh, the company would also have plans for north India after reaching 110 showrooms in the south from 64 stores at present. “We will open another 110 new showrooms in south India from 64 at present. We have already committed to set up a showroom in Malaysia which will be doing over next two months, followed by one in Singapore,’’ Kumar said. After reaching 175 showrooms in the South, Lalithaa will expand to north India, he said, adding: “First target is Maharashtra followed by Uttar Pradesh and Delhi. The successful listing of the IPO increased his responsibility, Kiran Kumar said, “I started the business by selling 48 grams of gold belonging to my mother and had ₹80,000 crore in Lalitha Jewellers account for IPO which shows trust in me,” he said. While avoiding a query on the likely trends in the gold price and some concerns among a section of people in buying gold in the current high-price scenario, Kumar said as the gold price would always increase than what was the buying price in the long-run, there was no need for any concern: ``No body should be afraid of buying gold on the grounds of high price,’’ he added. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Lalithaa Jewellery to open stores in Malaysia, Singapore
Asia
The Hindu BusinessLine

Indosol Solar to commission ingot-wafer plant in AP next month

Indosol Solar Pvt Ltd, a subsidiary of Shirdi Sai Electricals Ltd, is all set to inaugurate its ingot-cum-wafer plant at Ramayapatnam, Andhra Pradesh. When the ₹ 3,000-crore facility starts production next month, it will be the country’s only operational ingot plant. Silicon ingots are sliced into thin wafers, which are processed into cells and, ultimately, solar modules. By next month, Indosol Solar will have a 1.2 GW integrated facility, making ingots, cells and modules. Indosol aims to reach a capacity of 10 GW of integrated capacity, eventually scaling to 20 GW of ingot-wafer-cell-modules. India already requires the use of domestically manufactured cells and modules in certain government and government-supported solar projects. The localisation requirement is expected to extend to wafers from June 2028. Indosol Solar has chosen not to wait for the make-in-India mandate to kick-in. Balachander Krishnan, COO, Indosol Solar, told businessline that producing ingots and wafers is technologically a tough job; the company wanted to familiarise itself well before the government makes it mandatory. However, more importantly, Indosol is eyeing the lucrative US export. Krishnan said the US cell manufacturers face a “critical bottleneck”, as there is a shortage of non-Chinese, high purity solar wafers. The US’ cell manufacturing capacity is seen rising, encourage by the US Inflation Reduction Act, to 25 GW by 2028, but the ingot/wafer capacity is expected to be not more than 6 GW, leaving a yawning gap. Earlier this month, the US announced trade measures under Section 232 of the Trade Expansion Act of 1962, including a 15 per cent duty and minimum import prices for polysilicon and downstream solar products such as ingots, wafers, cells and modules. The floor prices are way above the market prices — $21/kg for polysilicon, $100 a kg for ingots and wafers, 22 cents for solar cells and 38 cents for modules. “This dynamic situation creates a prime export opportunity. By supplying trade-compliant, high-efficiency monocrystalline wafers directly to US domestic cell lines, Indian upstream players can enable US companies to claim lucrative tax incentives without structural supply chain risks,” he wrote on LinkedIn, adding that the company’s wafers are designed to yield cell efficiencies up to 25.5 per cent. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

Indosol Solar to commission ingot-wafer plant in AP next month
Europe
The Guardian

US treasury doubles debt buyback to steady bond market amid inflation fears

The US Department of the Treasury building in Washington DC on 11 July 2026. Photograph: Daniel Heuer/ReutersView image in fullscreenThe US Department of the Treasury building in Washington DC on 11 July 2026. Photograph: Daniel Heuer/ReutersUS economyUS treasury doubles debt buyback to steady bond market amid inflation fearsInterest rates, now sitting at about 3.5-3.7%, expected to go up if inflation doesn’t come down to Fed’s 2% target The US treasury is doubling its buyback of government debt in an effort to balance out the bond market as officials at the US Federal Reserve remain divided over how to deal with high inflation. The yield rate on 10-year, 20-year and 30-year treasury notes all hit 20-year highs this week, with the 30-year treasury yield rising to its highest rate since 2007. The rapid rise was concerning news for borrowers as major loans, including mortgages, are backed by treasuries. Yields dropped after the treasury department’s announcement on Wednesday morning. The agency said the policy “reflects treasury’s desire to provide greater liquidity support” to the long-term bond market. Meanwhile, minutes from the Fed’s latest board meeting in July were released Wednesday and showed ongoing division in the central bank on how to combat inflation. Some members believe interest rates will need to go up soon if inflation doesn’t come down toward the Fed’s 2% target rate. Though a majority of the board’s voting members agreed to keep rates unchanged, three had indicated they would want rates to go up. Rates currently sit at a range of 3.5% to 3.75%. “Many participants assessed that policy tightening would likely be necessary if inflation did not decline,” the minutes said. “Some participants commented that financial conditions might not currently be sufficiently restrictive to facilitate a return of inflation to 2 percent.” Wednesday’s announcement from the treasury department follows the Trump administration’s intervention to prop up the yen in a partnership with the Japanese government, which owns a large holding of US treasuries. Investors appeared spooked after the two-month ceasefire between the US and Iran expired on Monday, with no resolution in sight. On Tuesday, Donald Trump said that there are currently no scheduled peace talks between the US and Iran. Earlier in the week, he threatened to bomb Oman if it “gets in the way” of the US in the conflict. Inflation has proved persistent during the volatile war with Iran. Last week, new data showed the annualized US inflation rate was 3.4% in July – down from a three-year high of 4.2% in May, but nearly 1% higher than 2025 rates. Much of the price increases were reflected in oil prices, which have dipped down from their peak in March but still remain higher than prewar levels. Earlier this week, AAA said oil prices this month were on track to be the highest ever recorded for August, with gas costing $4.08 a gallon, about $1 more than last year. Stocks were up slightly on Wednesday after the treasury’s announcement. Despite rising prices, the US stock market has remained steadfast in unfettered growth amid a boom in AI investment. Last week, the S&P 500 closed at yet another record high, though the market remains volatile.

US treasury doubles debt buyback to steady bond market amid inflation fears
Asia-Pacific
The Straits Times

A bitter medicine that’s good for Singapore, but AI won’t fuel job growth as before: Tan See Leng

Minister for Trade and Industry (Energy and Industry) Tan See Leng (left) participated in a dialogue on Aug 26 moderated by Euston Quah, Albert Winsemius chair professor of economics and director of the Economic Growth Centre at Nanyang Technological University. SINGAPORE – Harnessing artificial intelligence (AI) is important to the continued growth of the Singapore economy, but the technology cannot be expected to contribute to job creation as it did in the past, said Minister for Trade and Industry (Energy and Industry) Tan See Leng. The Government recognises that AI and automation may allow firms to produce more with fewer workers, Tan said at the MTI Economic Dialogue on Aug 26. “As such, we can no longer assume that growth will automatically create the same number, the same type, or the same range of jobs as before,” he said. “What we will do is to make sure that all of our AI adoption, always at the core, is human-centric.” This means building pathways into growth sectors, raising the quality of jobs in essential and resilient occupations, including skilled trades, and encouraging entrepreneurship. Tan also pointed to plans to offer “career bridges” to workers who are more exposed to disruption from AI, automation and changing cost structures, to support them in the move to other opportunities. He added that it was also important to ensure that gains from AI diffuse beyond leading firms. Small and medium-sized enterprises must also be able to adopt useful solutions, with workers equipped to use AI alongside their current expertise. “In short, we want Singapore to be valuable not just because goods, people, capital and energy pass through us, but also because important decisions are made here,” Tan said. “These activities create, in turn, a virtuous cycle where opportunities and capabilities continue to abound for Singaporeans as well as our companies,” he added. The event was attended by around 190 participants, most of them students from universities and junior colleges. Tan also presented the Ministry of Trade and Industry’s economist service undergraduate scholarships to six recipients.

A bitter medicine that’s good for Singapore, but AI won’t fuel job growth as before: Tan See Leng