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UK, Singapore Begin Negotiations to Ease Pharmaceutical Trade

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The UK and Singapore launched negotiations for a Mutual Recognition Agreement on pharmaceutical goods manufacturing standards, according to a Wednesday UK government statement.

The agreement would allow regulators to rely on each other's laboratory inspection results, reducing duplicate testing and inspection requirements for pharmaceutical products. The move will lower administrative costs and ease medicines trade between the two countries.

UK-Singapore goods trade was worth 12 billion pounds in 2025, up 24% from 2024, while medicines trade was over 300 million pounds, the statement said.

The negotiations involve the UK's Medicines and Healthcare products Regulatory Agency and Singapore's Health Sciences Authority.

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International

Australian Data Center Operator's Fundraising Jumps to AU$35 Billion in 2026 to Date, RBA Analyst Says

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International

Market Chatter: South Korea Targets Halving Middle East Oil Reliance by 2035 Under New Energy Security Plan

South Korea's Industry Ministry announced Wednesday that the country intends to cut its crude oil dependence on the Middle East to 50% by 2035, Reuters News reported on Wednesday, citing the industry ministry.The target forms part of a 10-year natural resources security plan aimed at diversifying energy supplies following disruptions caused by the Iran war, the news wire said.South Korea aims to cut Middle East crude reliance to 50% by 2035 under a 10-year resources security plan, citing Iran war lessons, the publication said.It plans to add 20 million barrels of stockpile capacity by 2030 and secure more condensate for naphtha, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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International

ADB Raises India Growth Forecast for 2026

The Asian Development Bank raised its India economic growth estimate for 2026, according to its Asian ​Development Outlook update published Wednesday.The ADB said it expects India's economy to grow 7% in 2026, up 0.4 percentage points from the July estimate.For 2027, the real GDP growth estimate was trimmed to 7.1% from the July estimate of 7.3%.The ADB expects inflation in India to rise to 5% in 2026 from 2.1% in 2025, lower than the 5.2% July projection.

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