Good morning! Morning Minutes is a round-up of stories that will break on Friday, May 13, and which we think you'd be interested in.
It appears on weekdays, available by 7am.
SUTD and ST electronics to launch new cybersecurity lab
A new laboratory with a focus on cybersecurity will be launched today (May 13) by Dr Yaacob Ibrahim, Minister for Communications and Information. The lab is a joint-effort by ST Electronics and the Singapore University of Technology and Design (SUTD). It is the first corporate lab under the Corporate Laboratory@University Scheme, which supports the setting up of key laboratories through public-private partnerships. The scheme was launched by the National Research Foundation in March 2013, The new lab will tap on ST Electronics' in-depth cybersecurity expertise and industry knowledge as well as SUTD's academic know-how and multi-disciplinary effort in research and development. - LESTER HIO
Canada's PM Trudeau to visit fire-ravaged Fort McMurray
Canadian Prime Minister Justin Trudeau will visit fire-scarred oil-boon town Fort McMurray today (May 13) to survey the damage after a devastating wildfire ravaged the city, forcing the evacuation of 88,000 people. Mr Trudeau had indicated that he wanted firefighters and other emergency responders to do their work before he travelled to the city, for fear that going too soon would hinder their efforts. He has established an ad hoc Cabinet committee to coordinate federal relief efforts, adding to aid for the region after Alberta's premier and the head of the Canadian Red Cross announced that residents of the town would be offered direct financial aid.
Malaysia to release Q1 growth figures
Malaysia will release its first quarter growth figures today (May 13), with analysts predicting that the annual pace is expected to have dipped to 4.1 per cent amid a slowdown in domestic consumption and marginal growth in exports. This is lower than the 4.5 per cent of the previous quarter and sharply below the 5.6 per cent annual growth rate registered in the first quarter of last year. Malaysia’s trade surplus grew to RM11.2 billion (S$3.79 billion) in March from RM7.4 billion a month earlier, despite decreased earnings from liquefied natural gas and crude oil. However, exports only grew by 0.2 per cent in March compared to a 6.7 per cent hike in February.
US Commerce Department to release retail sales data
The US Commerce Department is set to release retail sales data today (May 13), with analysts expecting strong April data on the back of growing auto demand after a lacklustre first quarter. Auto sales – an early indicator of consumer spending – had bounced back in April which should provide a boost to overall sales numbers, analysts said. Consumer spending has been the main engine of growth in the United States for the past few years.