1. Russia's central bank raises interest rates more than expected
Russia's central bank recently raised its benchmark interest rate from 4.5% to 5%, a larger-than-expected increase against a backdrop of a weak rouble, high inflation and geopolitical risks, and signalled that further increases could follow.
2. Container shipping volume will increase by 7% in 2021
Recently, MSI said that container shipping volumes would grow by 7 per cent in 2021.On the demand side, the surge in freight demand will continue into the second quarter of this year, with freight volumes still at historically high levels.While there are signs that consumer demand is starting to slow slightly, it remains unclear when demand will return to normal levels.
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3. US manufacturing index rises to highest level
Last week, IHS Markit said its preliminary US manufacturing purchasing managers' index rose to 60.6 in April, the highest level since the index began in May 2007.Manufacturing activity was strong, but rising domestic demand as the economy reopened, making it increasingly difficult for manufacturers to obtain raw materials and other production inputs, could slow momentum in coming months.
4. Shopee's number of cross-border stores in Japan increased more than fourfold
Shopee Japan said recently that the number of Japanese businesses registered on its site in 2020 has increased significantly.The number of cross-border stores on Shopee's platform in Japan more than quadrupled last year from the previous year, according to data.What's more, during Singles' Day and Singles' Day last year, cross-border sales on Shopee in Japan were nine times higher than the previous year.
5. Singapore's exports to China grew nearly 50% year on year
Singapore's exports rose more than 12 per cent in March from a year earlier, while exports to China rose nearly 50 per cent, thanks to overseas demand for the city-state's pharmaceutical and electronics products, the Enterprise Development Council said recently.The small size of Singapore's domestic market means it relies heavily on investment and foreign trade from other countries.