Oracle and OpenAI drop Texas data center expansion plan, Bloomberg News reports
March 6 : Oracle and OpenAI have abandoned plans to expand a flagship artificial intelligence data center in Texas after negotiations dragged over financing and OpenAI's changing needs, Bloomberg News reported on Friday, citing people familiar with the matter. The plan is part of the Stargate p ...
Iran war sends US crude up $10 a barrel
HOUSTON, March 6 : U.S. crude oil futures climbed more than $10 on Friday, but remained under Brent as buyers sought available barrels, with Middle Eastern supply constrained by the effective closure of the Strait of Hormuz amid the expanding U.S.-Israeli war with Iran. Brent crude futures were up $ ...
Iran war sends US crude up US$10 a barrel
HOUSTON: US crude oil futures climbed more than US$10 on Friday (Mar 6), but remained under Brent as buyers sought available barrels, with Middle Eastern supply constrained by the effective closure of the Strait of Hormuz amid the expanding US-Israeli war with Iran.It was the second straight day tha ...
Kalshi sued over ouster of Iran leader prediction market
WASHINGTON, March 6 : Kalshi prediction market was sued for a failure to pay out $54 million to people who bet that Iranian Supreme Leader Ayatollah Ali Khamenei would leave office before March 1, 2026, according to a class action lawsuit filed on Thursday.Khamenei was killed on Saturday in U.S-Isra ...
US-Israel war with Iran sends shockwaves through global business
TAIWAN/MILAN/FRANKFURT, March 6 : The U.S.-Israeli war with Iran is rattling businesses worldwide, driving up energy prices, squeezing supplies of critical raw materials and raising questions about the reliability of trade routes critical to the flow of goods from food to car parts.The widening conf ...
Emerging market equity funds slide as Iran conflict sparks selloff
March 6 : Emerging market equity funds have posted steep declines this month as investors cut exposure to risk assets amid the escalating Iran conflict, making them among the worst performers across asset classes.Based on LSEG Lipper calculations, equity funds focused on Pakistan, Chile, Greece, Col ...
Fast fashion garments pile up in South Asia as Middle East conflict grounds planes
DHAKA, March 6 : Shipments of garments for Zara owner Inditex and other major clothing retailers are stranded at airports in Bangladesh and India, according to three manufacturers, as the conflict in the Middle East forces airlines such as Emirates and Qatar Airways to cancel flights.South Asia is a ...
Shenzhen Zhaowei Machinery & Electronics raises $244.3 million in Hong Kong listing
March 6 : Chinese micro-drive and actuation systems provider Shenzhen Zhaowei Machinery & Electronics on Friday said it has set the final offer price for its Hong Kong listing, raising HK$1.91 billion ($244.25 million).The Shenzhen-listed company sold 26.7 million H shares at HK$71.28 per share, ...
Gulf disruption squeezes Indonesia nickel makers' sulphur supply
SHANGHAI/LONDON, March 6 : Nickel makers in Indonesia reliant on the Middle East for 75 per cent of the sulphur they use may have to cut production as Gulf shipping is increasingly disrupted by the conflict in the region, analysts saidSulphur is used to make sulphuric acid, which is essential for le ...
US agency to hold self-driving safety forum with CEOs of Waymo, Zoox, Aurora
WASHINGTON, March 6 : The National Highway Traffic Safety Administration will hold a national autonomous vehicle safety forum that will include the CEOs of self-driving companies Waymo, Zoox and Aurora on Tuesday.The Trump administration is looking for ways to speed deployment of robotaxis and addre ...
Venezuelan inflation at 14.6% in February, central bank says
March 6 : Venezuelan inflation was 14.6 per cent in February, down from 32.6 per cent registered the prior month, its central bank reported on Friday.Adding February's data, annualized inflation stood at 617.9 per cent, according to Reuters calculations based on central bank figures.Inflation i ...
Robinhood's $658 million private markets fund for retail investors goes public
March 6 : Robinhood debuted its flagship $658.4 million venture fund on the New York Stock Exchange on Friday, offering retail investors a rare chance to invest in high-profile, privately held technology companies.Private company investments have long been the playground of Silicon Valley's big ...
Wall Street opens lower as Middle East turmoil, weak jobs report weigh
[NEW YORK] Wall Street’s main indexes opened lower on Friday (Mar 6) as the conflict raging in the Middle East threatened to...
From war chest to growth: Hongkong Land eyes new investments after US$3.6 billion capital recycling
Ry-Anne Lim - The group is ‘very positive’ on the Singapore market, and looks to expand its presence through the new private fund or development...
Safe-haven franc rises as Iran war drags on; dollar dips after US payrolls drop
NEW YORK, March 6 : The safe-haven Swiss franc rallied across the board on Friday, as the continued escalation of the Middle East conflict spurred a flight to safety, while the U.S. dollar slipped in choppy trading after data showed an unexpected decline in new jobs created in the world's large ...
US dollar holds gains after unexpected drop in February payrolls
NEW YORK, March 6 : The dollar held gains against major currencies on Friday, after data showed an unexpected decline in new jobs created in the world's largest economy last month, suggesting that the Federal Reserve could cut interest rates sooner than expected.The U.S. economy lost 92,000 job ...
US dollar cuts gains after unexpected drop in February payrolls
(Corrects month to February in headline)NEW YORK, March 6 : The dollar trimmed gains against major currencies on Friday after data showed an unexpected decline in new jobs created in the world's largest economy last month, suggesting that the Federal Reserve could cut interest rates sooner than ...
Market consolidation could last several weeks
Goola Warden - The Straits Times Index (STI) and the S&P 500 Index (SPX) may be taking different paths. The comparative chart between the STI and SPX shows that the STI has outperformed the SPX since Trump became president. The SPX’s underperformance is probably due to Trump’s volatility and the need to ek ...
Yangzijiang Maritime Development gets shareholder approval for share buyback at EGM
Therese Soh - The group will purchase up to 10% of all its issued shares
CapitaLand Development bets big on food with launch of Gourmet Xchange facility in Kallang
Ry-Anne Lim - The ‘unconventional’ hub should generate relatively stable returns, says CLD Singapore CEO Ronald Tay
'Plenty of oil' in market despite Mideast turmoil: IEA chief
BRUSSELS: International Energy Agency (IEA) chief Fatih Birol sought on Friday (Mar 6) to tamp down fears of a global oil crisis as conflict rages in the Middle East, saying there was "plenty of oil in the market."The
Maritime insurance premiums surge as Iran conflict widens
War premiums spike costs for shippers, traders, and energy firms moving cargo through Hormuz
Exclusive-Indonesia's 'cowboy' finance czar shrugs off investor alarm; 'I know what I'm doing'
JAKARTA, March 6 : Indonesia's tough-talking, pro-growth Finance Minister Purbaya Yudhi Sadewa says he and his unconventional policies, which have broken from the country's fiscally conservative approach, are at the centre of growing concerns about how the economy is being run.But he remai ...
Stocks slide as oil price fears, US jobs data rattle markets
LONDON, March 6 : U.S. futures and European stocks slid on Friday as the U.S.-Iran war drove oil prices to their highest level in almost two years, prompting traders to wind in their bets on interest rate cuts and fret about the impact on economic growth.Much weaker than expected U.S. jobs data, whi ...
Stocks slide as Gulf oil supply fears rattle markets
LONDON, March 6 : European stocks and U.S. futures tumbled on Friday as the U.S.-Iran war drove fresh concerns about oil supplies, prompting traders to wind in their bets on interest rate cuts and fret about the impact on the global economy.Benchmark global and U.S. oil prices hit their highest leve ...
Stocks slide as soaring oil prices and US job losses rattle markets
NEW YORK/LONDON, March 6 : Stocks sank on Friday as the U.S.-Israeli war against Iran drove oil prices sharply higher, while an unexpected loss of U.S. jobs in February increased hopes for Federal Reserve rate cuts but did little to cheer investors worried about economic weakness. Trading was choppy ...
Stocks fall as Gulf oil supply fears rattle markets
LONDON, March 6 : European stocks slipped along with U.S. futures on Friday as the U.S.-Iran war drove fresh concerns about oil supplies, prompting traders to rethink their expectations for central bank rate cuts.Benchmark global and U.S. oil prices hit their highest levels since mid-2024. U.S. Trea ...
Japan considers releasing national oil stockpile, Kyodo reports
TOKYO, March 6 : Japan is considering releasing its national oil reserves amid the ongoing Iran crisis that has disrupted global energy supplies, Kyodo news agency reported on Friday.Japan relies on the Middle East for around 95 per cent of its oil supplies with around 70 per cent coming via the Str ...
Japan may use part of national oil stockpile amid Iran war supply crisis, Kyodo reports
TOKYO, March 6 : The Japanese government is considering using part of its national oil reserves amid the ongoing Iran crisis that has disrupted global energy supplies, Kyodo news agency reported on Friday citing sources, and may do so in coordination with other countries or even on its own. Japan re ...
Asia has limited options to diversify from Middle East energy reliance
Distance, refinery logistics, contracts and cost are factors
SIA and Scoot extend cancellation of Middle East flights amid geopolitical tensions
Both airlines attribute the cancellations to ‘the geopolitical situation in the Middle East’
Marvell Tech shares soar on bullish multi-year AI chip outlook
March 6 : Marvell Technology rose nearly 11 per cent in early trading on Friday, as its upbeat multi-year forecast underscored booming demand for custom AI chips from large technology companies.The jump could add more than $10 billion to the company's market value if gains hold.Marvell's s ...
Marvell Tech shares rally on forecast for AI-chip growth
March 6 : Marvell Technology's shares surged nearly 12 per cent before the opening bell on Friday as investors bet on demand for its AI-focused custom chips and interconnect technologies following an upbeat long-term forecast.AI‑chip spending has accelerated industry-wide. Broadcom, a key sup ...
Singapore stocks close flat on Friday amid cautious calm in Asian markets
Jude Chan - Straits Times Index is down 2.9% for the week
