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.

The European Union is offering to accept a 10% tariff across all of its exports to the United States in an effort to prevent higher duties on cars, drugs, and electronics, according to a Monday report from German newspaper Handelsblatt.

Most Asian stocks moved in a flat-to-low range on Tuesday as investors remained on edge over the Iran-Israel conflict, especially after U.S. President Donald Trump called for the evacuation of Tehran. 

Oil prices climbed on Tuesday on concerns the Iran-Israel conflict may intensify, raising the risk of further unrest and the potential disruption of oil supply from the key Middle East producing region.