Singapore, a leading energy and trading hub, faces direct impacts from global energy price movements due to its significant refining, storage, and bunkering operations. Price volatility drives trading margins, storage use, and affects domestic costs.

Singapore: A Leading Energy and Trading Hub

Singapore stands as one of Asia’s pivotal energy and trading centers, boasting a refining capacity exceeding 1.3 million barrels daily and possessing extensive storage facilities. It also hosts the globe’s largest bunkering operations, handling over 50 million tonnes annually. Such prominence influences both domestic pricing and global trading volumes, especially during supply disruptions affecting export routes. These fluctuations in energy prices impact shipping and financial activities related to commodities, solidifying Singapore’s role in the intricate web of global energy dynamics.

Volatility and Its Impact on Trading and Storage

Energy price volatility in Singapore widens regional price differentials, creating opportunities in physical and derivatives markets. During dislocation periods, refining margins in Asia can surge, while inventories in Singapore grow as traders capitalize on forward pricing benefits. This scenario favors trading firms, storage operators, and commodity financiers, who leverage these conditions as a revenue opportunity rather than a limitation, provided they have access to adequate infrastructure and financing.

Dependence on Energy Imports and Cost Implications

Singapore imports over 95% of its energy, making it sensitive to global price changes. In the first half of 2025, natural gas made up 93.1% of the electricity fuel mix, underscoring the reliance on LNG and pipeline gas. Wholesale electricity prices, fluctuating between SGD 100 and SGD 200 per MWh in 2025, are expected to rise in 2026. For energy-intensive industries, these price hikes can increase operating costs significantly, directly impacting margins and strategic decisions, especially when global prices remain elevated for extended periods.

How Fluctuations in Global Energy Prices Could Impact Singapore’s Economy

Global energy price volatility poses significant challenges for Singapore’s economy, heavily reliant on energy imports. Sudden spikes in prices can lead to increased production costs across various industries, notably manufacturing and logistics. This inflationary pressure can result in higher consumer prices, potentially dampening domestic consumption. Moreover, as energy expenses form a sizable portion of household expenditures, volatile prices can strain family budgets, affecting overall economic well-being.

Additionally, fluctuating energy prices impact Singapore’s trade balance. As a major hub, increased operational costs may reduce its competitive edge globally. To mitigate these effects, Singapore is investing in sustainable energy solutions and diversifying its energy sources to enhance resilience against such volatility.

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Read the original article : How Global Energy Price Volatility Could Affect Singapore’s Economy

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Ali Gillani did not grow up surrounded by shortcuts. He grew up in Toronto, raised by immigrant parents who worked hard to build a stable life. That early environment shaped how he sees business, responsibility, and leadership today.

“I built my career on the principles of discipline, education, and service,” he says.

Now, Gillani is known as an accountant, entrepreneur, philanthropist, and the founder of Soberman Goldstein & Associates and the Truman Foundation. Over the years, he has expanded his work across industries while keeping his focus grounded in long-term impact.

This is the story of how his career developed—step by step.

Early Life in Toronto and the Values That Shaped Him

Gillani was born and raised in Toronto in a close and supportive family. His parents immigrated to Canada in search of opportunity and stability.

Watching them start from the ground up left a lasting impression.

“My father worked in finance and accounting and served as my first mentor,” he shares. “He instilled discipline, integrity, and a strong respect for financial responsibility.”

His mother played an equally important role.

“She taught me the importance of humility, generosity, and staying grounded regardless of success,” he says.

As a child, Gillani was quiet, focused, and academically driven. He also played baseball, which taught him teamwork and resilience.

Faith was another steady influence.

“My faith has always been a grounding force,” he explains. “It guides my decisions and reinforces values of gratitude and service.”

Education and the Start of a Professional Foundation

Gillani attended Ryerson University from 2006 to 2010. He graduated with honours, majoring in Accounting and minoring in Business Law.

His education gave him technical skills, but also reinforced the importance of ethics in financial work.

“My academic experience focused on developing strong expertise alongside an ethical foundation,” he says.

After graduation, he earned his General Accountant license. This marked the beginning of a serious commitment to the accounting profession.

For Gillani, credibility mattered early.

“In accounting and entrepreneurship, trust is everything,” he notes. “Clients and partners must know that your word carries weight.”

Launching Soberman Goldstein & Associates

With experience and discipline behind him, Gillani founded Soberman Goldstein & Associates, an international accounting and consultancy firm based in Toronto.

The firm serves clients across Canada, the United States, and the United Kingdom.

His work centers on helping businesses stay financially clear, compliant, and stable over time.

“My belief is that financial success carries a responsibility,” he says. “It should support growth, but also create meaningful impact.”

Rather than chasing fast results, Gillani focused on long-term systems.

“One of the biggest challenges was balancing rapid business growth with discipline and planning,” he shares. “Entrepreneurship can move faster than your systems if you are not careful.”

Expanding Into Entrepreneurship Across Industries

Over time, Gillani’s career expanded beyond accounting. He became involved in hospitality, healthcare, and international real estate.

He is a founding partner of THG’s Hot Chicken and owns multiple restaurant franchises, including Toronto locations of Osmow’s. He also owns Crema and Shahs of Kabob in Miami, Florida.

Gillani also entered the healthcare space through ownership of Healthy Heart Clinic.

Each venture reflects his interest in building businesses that connect with community needs.

Early on, he learned that growth requires structure.

“I underestimated the operational complexity of scaling multiple businesses at once,” he admits. “That experience taught me the importance of systems, delegation, and patience.”

Today, he approaches expansion carefully.

“I ensure that every step forward is stable,” he says.

Leadership Built on Discipline and Long-Term Thinking

Gillani’s leadership style is rooted in consistency, reflection, and adaptability.

“Integrity, adaptability, and long-term thinking are essential,” he explains. “Markets change, regulations evolve, and industries shift.”

When challenges arise, he leans on routine and perspective.

“I rely on discipline, reflection, and faith,” he says. “I focus on what I can control.”

He also believes strongly in learning.

“Growth requires humility,” Gillani notes. “No matter how much you achieve, there is always more to learn.”

Philanthropy Through the Truman Foundation

A central part of Gillani’s work is philanthropy. He founded the Truman Foundation to support humanitarian aid and sustainable development.

The foundation focuses on poverty reduction, empowerment, and long-term solutions.

“The foundation prioritizes dignity, opportunity, and self-sufficiency,” he explains.

His philosophy is clear: success is not only personal.

“Success is freedom with responsibility,” Gillani says. “It’s about supporting the people you love and using your resources to make a positive impact beyond yourself.”

Family as the Driving Force Behind His Career

For Gillani, business leadership is deeply tied to family.

“My biggest motivation is my children,” he shares. “Success is not just personal; it is generational.”

He views his work as building a foundation for the next generation.

“I want to teach them discipline, humility, faith, and ambition by example,” Ali Gillani says.

Balance is also a priority.

“Professional achievement should strengthen your personal life, not compete with it,” Gillani explains.

How Ali Gillani Measures Real Success

Gillani does not define success by numbers alone.

“Financial performance matters,” he says, “but so does reputation, team development, and positive influence.”

His focus remains on building enterprises that last, while staying grounded in service.

“True success leaves a legacy beyond numbers,” he adds.

From Toronto roots to international business and philanthropy, Ali Gillani’s career reflects a steady blend of discipline, leadership, and purpose.

And for him, the mission remains simple:

“Success is most meaningful when it is shared.”

A Beijing-based green steel specialist has warned Australia’s hopeful iron ore processors they need a reality check as they wade into a costly and competitive sector.

There was a strong sense of optimism from government and industry at the Clean Energy Council’s WA summit on Tuesday about the role green iron and steel production could play in decarbonising Western Australia’s economy, and creating new jobs.

Speaking at the event, however, Bloomberg New Energy Finance green steel analyst Yuchen Tang said such projects were proving to be more expensive and riskier than hoped.

Ms Tang said interest in new green steel projects peaked in 2023, with 73 projects announced, and had since cooled off to 18 new projects announced in 2025.

“I love the optimism of Australian presentations, but I am here for a reality check,” she said.

“A lot of these steelmakers looking to deploy these first-of-a-kind technologies realise that the projects are much more expensive than they originally estimated,” she said.

“Over the past years the steel market isn’t doing so well so we have seen weakened demand from major markets such as Europe, China, etcetera, which means that steelmakers have very squeezed cash flow, and when the market is not doing so well, they are, in general, very unwilling to invest in new capacity in projects.

“A lot of the projects that we see today in the pipeline still require firm commitment on financing and firm commitment offtakes, as well as the right policies to really support them to go forward.”

Ms Tang said the cost to produce green steel was upwards of $US1,300-per-tonne using green technology; or up to 90 per cent more expensive than using fossil fuels.

Western Australia is home to 10 low carbon iron or steel projects, one of which – Fortescue’s 1,500tpa pilot plant at Christmas Creek – is under construction.

Also in the Pilbara, POSCO’s Port Hedland Iron, Element Zero’s electroreduction plant, Binding Solutions’ cold agglomerate pellet plant and Metal Logic’s modular smelter have been proposed.

Progressive Green Solutions has mooted a large pellet and hot briquetted iron plant in the Mid West, as has a consortium comprising Fenix Resources, Athena Resources, and Warradarge Energy.

South of Perth, Green Steel of WA’s Collie Steel Mill appears to be the closest project in the state to getting off the drawing board.

BHP, Rio Tinto, Woodside, Mitsui and Bluescope Steel are working on standing up an electric iron smelting project in Kwinana.

Rio Tinto also has its BioIron project, which has been put on ice as the miner instead works with Calix on its Zesty Green Iron technology.

Ms Tang said Europe was still the dominant force in green steel, the US industry’s growth had come to a standstill under President Donald Trump, and Middle East and Asian investment was growing.

“Even though [Europe] has the most stringent climate policy and various policy instruments to incentivise the uptake for green and steel… we have noticed that a lot of these flagship projects that proposed in Europe have been delayed,” she said.

“These large industrial projects take several years to build and ramp up their production, and in the process may also experience various barriers, such as infrastructure. 

“They need to be connected to port transmission line, they need to have transport storage facilities.

“Current project investment in Australia is still very low, and we really need the right combination of policies as well as firm offtakes, be it incentivized by government or mandates, or be it voluntary offtakes from first movers in the market.”

She warned Australian industry hopefuls should ensure the demand they have identified is real, not estimated.

The drop in value of equity mutual funds sparked by the 10% drop in Nifty over the last month has unnerved investors. Many are now grappling with a familiar set of questions—should they invest a lumpsum, top up SIPs, or restructure portfolios and move out of loss-making schemes? A look at how investors could navigate this testing phase.

CAN INVESTORS WITH SPARE MONEY MAKE A LUMPSUM INVESTMENT INTO EQUITY MUTUAL FUNDS NOW?

Wealth managers say lumpsum investing at this stage needs to be seen in the context of valuations and one’s own risk appetite. Nifty’s Price to Earnings (PE) ratio—a key valuation measure—has corrected to 19.7 times from 24.4 in September 2024. Fund managers point out that sub-20 levels have historically been seen as “fair” levels for long-term entry, with further declines seen as making it more conducive to invest. So, investors with a time horizon of over five years—and the ability to ride out near-term volatility—can consider putting some money to work now. That said, a staggered approach may be more comfortable. For instance, deploying about 30% now and spreading the rest over the next few months. Another option is to park funds in a liquid scheme and start a daily or weekly Systematic Transfer Plan (STP) over about six months. This way, the money continues to earn 6–7% while gradually moving into equities.
IS THERE A NEED TO RESTRUCTURE PORTFOLIO NOW?
Financial planners say this may be a good time for such investors to step back and review their portfolios in line with their risk appetite and long-term goals. Those heavily tilted towards one asset class could look at diversifying across equity, debt and other assets. Many have built portfolios by chasing recent winners— ending up with concentrated exposure to gold, silver, or narrow thematic funds. Similarly, investors with SIPs in thematic funds may want to move towards more diversified options, such as large-cap index or flexi-cap funds. Those who are already well-diversified and aligned to their goals can largely ignore the noise.

WHAT DO INVESTORS DO WITH THEIR LOSSMAKING SCHEMES?

Investors with a time horizon of over seven years can continue with diversified equity funds and look past short-term volatility. However, if a significant portion of the portfolio is in thematic or sectoral funds— especially beyond the intended allocation—it may be worth reviewing. Adding more money to average such positions may not be advisable. If exposure is high and beyond one’s risk tolerance, investors could consider trimming these positions and reallocating to diversified equity funds, where fund managers have the flexibility to invest across a broader set of opportunities.

In a much-needed breather, oil prices tumbled over 5% on Wednesday amid growing hopes of a ceasefire that could ease supply disruptions from the Middle East, a key oil-producing region. The decline followed reports that the U.S. had sent Iran a 15-point proposal aimed at ending the ongoing conflict.

U.S. President Donald Trump said Washington and Tehran are “currently in negotiations” and suggested that Iran is eager to strike a peace deal, even as the Islamic Republic has denied holding any direct talks with the United States.

Crude oil price on March 25

Brent crude futures dropped $6.21, or 5.9%, to $98.28 a barrel by 0058 GMT, after touching a low of $97.57. U.S. West Texas Intermediate crude futures fell $4.67, or 5.1%, to $87.68 a barrel, having slipped earlier to $86.72. This came after both benchmarks had gained nearly 5% on Tuesday, before giving up some of those gains in volatile post-settlement trade.Market participants appear to be reacting to slightly improved expectations of a ceasefire, prompting some profit booking. But uncertainty around the success of negotiations is likely preventing a sharper bout of profit taking.

According to Israel’s Channel 2, the proposal US sent includes a one-month ceasefire to allow discussions, along with provisions for dismantling Iran’s nuclear programme, ending support for proxy groups, and reopening the Strait of Hormuz.
On the diplomatic front, Pakistan’s prime minister on Tuesday offered to host talks between the U.S. and Iran. However, Iran had denied on Monday that it was engaged in any negotiations with the U.S.
Despite these developments, military activity has continued, with strikes by the U.S., Israel, and Iran ongoing. Sources also indicated that Washington is preparing to deploy additional troops to the region.
Despite the possible relief, concerns around the Strait of Hormuz persist. The ongoing conflict has effectively disrupted shipments of nearly one-fifth of global oil and liquefied natural gas passing through the key waterway.

International brokerage Macquarie has said that even if tensions ease in the near term, oil prices are likely to find support in the $85–$90 range, with a gradual move back toward $110 until normal flows through the Strait of Hormuz resume. The note added that if disruptions persist through April, Brent could still climb to $150 per barrel.

Looking ahead, crude prices could move higher from current levels. According to Kayanat Chainwala of Kotak Securities, oil may rise to $120 per barrel in the near term and potentially touch $150 if the conflict continues

Nuvama Institutional Equities echoes the same view. The continued closure of the Strait of Hormuz, which handles around 20 million barrels per day, could push crude prices to the $110–150 per barrel range.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Danone BN 0.06%increase; green up pointing triangle has agreed to buy nutrition startup Huel for about $1.2 billion, seeking to tap growing demand for meal-replacement shakes popular with gym-goers and late-night workers.

The maker of Activia yogurt and Evian water said Monday that the deal would bolster its presence in the so-called “complete nutrition” sector and help Huel expand internationally.

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