<div class=newsTextDataWrapInner><p>SINGAPORE (Feb 3): According to a recent study by Oxford Economics, robot adoption could spur a 20% growth in Singapore’s gross domestic product (GDP) by 2030, equivalent to some S$0.1 trillion at today’s prices.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>While an improvement in what is largely considered the most important measure to evaluate the city-state’s economic performance might be highly sought after, economist Sung Eun Jung is quick to highlight how the rise of robots carries with it the risk of job displacement.&nbsp;<br />
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In a report on Feb 3, Sung notes that<a href="https://www.theedgesingapore.com/news/disruption-and-digitalisation/robotisation-could-increase-singapores-gdp-20-over-next-10-years" target="_blank">...(click on link for full story on theedgesingapore.com)</a></p></div>
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SINGAPORE (Feb 3): According to a recent study by Oxford Economics, robot adoption could spur a 20% growth in Singapore’s gross domestic product (GDP) by 2030, equivalent to some S$0.1 trillion at today’s prices. 

While an improvement in what is largely considered the most important measure to evaluate the city-state’s economic performance might be highly sought after, economist Sung Eun Jung is quick to highlight how the rise of robots carries with it the risk of job displacement.

Robotisation could increase Singapore's GDP by 20% over the next 10 years, but job displacement is inevitable: Oxford Economics

The government will continue to monitor the impact on inflation in the country following the announcement of a more than 13% increase in civil servants' salaries this December.

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US private payrolls increased more than expected in April, suggesting that the labor market maintained its momentum early in the second quarter.

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Yum Brands reported a fall in quarterly global same-store sales on Wednesday, hurt by choppy demand for its KFC and Pizza Hut brands from inflation-weary consumers in the United States as well as in overseas markets.

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Shell has exited China's power markets as part of CEO Wael Sawan's drive to focus on more profitable operations including its natural gas and oil businesses.

Shell exits China power market businesses

The retail price of RON97 petrol remains unchanged at RM3.47 per litre, with RON95 also unchanged at RM2.05 per litre, from May 2 to May 8, according to the Ministry of Finance on Wednesday.

Fuel prices unchanged till May 8

The dollar edged towards its highest level this year against a basket of peers and US share futures dipped on Wednesday ahead of a Federal Reserve policy decision, though trading was thin with many European and Asian markets closed.

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Bitcoin slid by almost 6% on Wednesday, having posted its worst monthly performance in April since late 2022, as investors pulled money out of cryptocurrencies ahead of an interest rate decision by the Federal Reserve later.

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Prime Minister Datuk Seri Anwar Ibrahim has emphasised that any party associating him and the government with a purported casino project in Forest City must face legal action.

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Details regarding the salary increase for civil servants will be announced during the tabling of Budget 2025 in October this year.

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China's Huawei Technologies has moved the high-profile chief of its consumer business, Yu Chengdong, to a new role as chair of the unit, two people with knowledge of the matter said.

Huawei's high-profile consumer CEO Richard Yu shifts role

<p>Yum Brands reported a fall in quarterly global same-store sales on Wednesday, hurt by choppy demand for its KFC and Pizza Hut brands from inflation-weary consumers in the United States as well as in overseas markets.</p>


<p>The government will continue to monitor the impact on inflation in the country following the announcement of a more than 13% increase in civil servants' salaries this December.</p>


<p>US private payrolls increased more than expected in April, suggesting that the labor market maintained its momentum early in the second quarter.</p>
