Crude prices drop

SINGAPORE: Oil prices fell on Tuesday amid worries about a possible slowdown in the US economy that would reduce demand for oil and petroleum products. Light, sweet crude for December delivery lost to $85.77 a barrel in Asian electronic trading on the New York Mercantile Exchange by midmorning in Singapore. The contract fell to settle at $86.02 a barrel on Monday. — AP

Economy diversified

SINGAPORE: Singapore’s economy, the most advanced in Southeast Asia, has become more diversified over the past decade as growth of the biomedical and chemical industries cut dependence on electronics. Minister of State for Trade and Industry, Lee Yi Shyan, said that as the city-state’s economic base diversifies, growth will become more stable and sustained. — AFP

Indonesian exports up

JAKARTA: Indonesia’s exports are projected to grow by 14 to 15 per cent in 2008 with strong commodity prices likely to offset weak demand from the country’s major trading partners. Trade Minister Mari Pangestu said that Indonesia will also try to increase its exports to emerging markets. — AFP

Unemployment falls

WARSAW: Poland’s unemployment rate fell to 11.6 per cent in September from 11.9 per cent a month earlier. The Central Statistics Office reported that 1.78 million people were officially registered as jobless in September. That marks a significant drop from September 2006. — AP