International News 13 February 2025
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Singapore doesn't set 2025 tourist growth target, focuses on holiday experience
The Singapore Tourism Board (STB) has announced that it will not set a growth target for tourist arrivals until 2025. The focus this year is on enhancing the holiday experience in Singapore to attract more visitors. Mr Mohammed Hafez Marican, STB's Area Director for Indonesia, said that their aim is to continuously improve the tourist experience. Indonesia is the second largest market for travellers to Singapore globally and the largest in Southeast Asia. In 2024, Singapore welcomed 2.49 million Indonesian visitors, an increase of 8% over the previous year. Indonesian tourists are a significant contributor to Singapore's tourism industry, with total tourism receipts from them reaching SGD 2.13 billion from January to September 2024. Shopping, accommodation and food & beverage were the main contributors to tourism expenditure, all of which are expected to grow in 2024. This positive performance was attributed to various events, attractions and lifestyle offerings throughout the year.
Oil Prices Close 1.5% Stronger to the Highest Level in 2 Weeks
Oil prices closed slightly higher, hitting a two-week high, on concerns over Russian and Iranian oil supplies and rising tensions in the Middle East. This outweighed concerns that trade tariffs could lead to higher inflation and hamper global economic growth. Brent crude oil futures for April 2025 closed up 1.5% at $77.00 per barrel, while West Texas Intermediate crude oil futures for March 2025 closed up 1.4% at $73.32 per barrel. The disruption to Russian oil shipments to China and India caused by US sanctions targeting tankers, producers and insurers has contributed to the rise in oil prices. US sanctions on networks shipping Iranian oil to China also continue to support crude prices.
China Tariffs Take Effect, US Coal Exports to India Surge
China's decision to impose tariffs on US coal imports is expected to lead to an increase in coal exports from the United States to India. This shift in trade could potentially impact the market share of Australia and Russia, who currently supply coal to India. Chinese authorities recently announced a 15% levy on US coal imports, prompting US miners to redirect their production to India, the world's second-largest coal importer after China. Already, three US cargoes destined for China have been diverted to India, with more expected to follow. The influx of US coal into India has the potential to depress prices, posing a challenge for Australian suppliers. While the US accounts for a small proportion of China's coal imports in terms of volume, the value of coking coal shipments could reach US$1.84 billion by 2024.
https://internasional.kontan.co.id/news/tarif-china-berlaku-ekspor-batu-bara-as-ke-india-melonjak