Daily Briefing: ST Engineering eyes growth in driverless car market; 3 ways Sheng Siong is modernising retail

And Russia's Rosneft to open a trading office in Singapore.

From Motley Fool Singapore: In ST Engineering’s 2017 first quarter earnings presentation, its chief executive, Vincent Chong, spoke about the potential of autonomous vehicles in its land systems division: “We made progress on the autonomous vehicle segment, taking a lead role to develop solutions that would transform urban transportation connectivity for Singapore. The autonomous vehicle segment is one of the higher growth areas which we have identified along with robotics and cybersecurity, where we can play to our strength, leveraging our domain expertise and engineering capabilities.”

From Motley Fool Singapore: The retailer owns one of the largest supermarket chains in Singapore – it has a network of over 40 stores that are primarily located in the heartlands of the island. One interesting aspect about Sheng Siong’s stores is that the company is modernising its retail operations. One way it is modernising retail is through the hybrid self-check-out system. In this hybrid system, Sheng Siong’s staff would help shoppers scan and pack their goods after customers make payments at an automated payment kiosk. This process helped reduce the number of cashiers needed by Sheng Siong, said Lim.

From Reuters: Russia's Rosneft, the world's top listed oil producer by volumes, plans to open a trading office in Singapore, Chief Executive Igor Sechin said in an article published in Izvestia newspaper on Tuesday. He added that if oil prices stay at $40 per barrel for a prolonged time, half of global oil production would become loss-making, including in Brazil and Canada, with shale oil producers also likely facing "difficulties".