The nonpartisan U.S. Congressional Budget Office (CBO) released new projections Tuesday showing that President Donald Trump’s tax-cut and spending legislation would increase the federal deficit by $2.8 trillion over a decade, even after accounting for economic growth effects.

Federal Reserve officials met on Tuesday armed with new economic data that could give more weight to their concerns that Trump administration policies, or at least the intense uncertainty around them, will slow growth in the coming months.

Oil prices ticked up in early trading on Wednesday after ending the previous session up more than 4 per cent on worries that the Iran-Israel conflict could disrupt supplies.

Tosoh Corporation has announced its plan to increase the production capacity of its SKYPRENE chloroprene rubber (CR). The plan will see the company add a second CR production facility at its Nanyo Complex in Shunan City, Yamaguchi Prefecture, to meet growing demand for CR worldwide.

The government is in the midst of gathering detailed feedback from industry players regarding the implementation of the five per cent sales and service tax (SST) on the domestic rubber ecosystem.

Singapore’s non-oil domestic exports fell 3.5% in May from the same month a year earlier, government data showed on Tuesday, bucking analyst estimates as shipments to the United States fell sharply a month after Washington announced tariffs.