Carnival to mark start of next 50 years

Students from polytechnics and universities across Singapore are joining hands to hold a carnival to mark the start of the next 50 years of Singapore's independence. The event today at D'Marquee in Downtown East is the brainchild of the SG100 Foundation, a non-profit group that aims to develop the talents of Singapore's young people. Open to the public from 1pm to 5pm, the carnival will feature games booths, products and performances.

Delhi starts car ban in anti-smog drive

Residents in India's capital New Delhi will have to find alternative ways to work from today, when the authorities launch a trial of draconian traffic restrictions to try to clean up the world's most polluted capital.

Private cars will be banned from the roads on alternate days from today as part of a slew of measures aimed at reducing smog levels that include shutting some coal-fired power plants and vacuuming roads to reduce dust.

China's factory data out today

It may be a public holiday for most markets today but China will still issue its factory data for December. The Chinese manufacturing Purchasing Managers' Index (PMI) will be closely watched for levels of factory activity, which forms a big part of the Chinese economy.

The PMI was last in contraction mode, with a reading of 49.6 for November, but investors are hoping that the new year will bring a better and brighter outlook for the Chinese.