Stablecoins gain in Nigeria for cross-border transfers, IMF says
LAGOS, June 16 : Nigerians are increasingly turning to U.S. dollar-pegged digital tokens, or stablecoins, to move money across borders, as households and small businesses seek cheaper and faster alternatives to traditional channels, the IMF said on Tuesday. The Fund said what began as a niche crypto ...
SoftBank launches cybersecurity product based on OpenAI models
TOKYO, June 16 : Japan’s SoftBank Group has launched a cybersecurity product designed to counter breaches enabled by artificial intelligence, the company said on Tuesday.The "Patching as a Service" product will be rolled out in Japan through a joint venture established last November betw ...
Dollar slips as markets wait on Warsh's Fed debut
NEW YORK, June 16 : The dollar was modestly weaker against the euro on Tuesday as investors awaited the conclusion of the Federal Reserve's policy meeting the following day, the first chaired by Kevin Warsh, with markets watching for any signals that the central bank could raise interest rates ...
Dollar steady, no respite for yen after BOJ hikes rates as expected
LONDON, June 16 : The dollar held at 10-day lows on Tuesday as a preliminary deal to end the Iran war buoyed risk appetite, while the yen teetered near the closely watched 160 level after the Bank of Japan hiked interest rates, as expected, in an effort to tame inflationary risks from the conflict.P ...
Dollar drifts, no respite for yen after BOJ hikes rates as expected
LONDON, June 16 : The dollar held near 10-day lows on Tuesday as a preliminary deal to end the Iran war buoyed risk appetite, while the yen teetered near the closely watched 160 level after the Bank of Japan hiked interest rates, as expected, in an effort to tame inflationary risks from the conflict ...
Iran deal could expand market gains, with consumer shares, small caps seen benefitting
Since the war began, the S&P 500 tech sector is up 28 per cent against a 10 per cent rise for the...
Iran deal could expand market gains, with consumer shares, small caps seen benefiting
Since the war began, the S&P 500 tech sector is up 28 per cent against a 10 per cent rise for the...
Singtel, KKR-owned STT GDC opens its first South Korean data centre to tap AI boom
Shikhar Gupta - 30 MW facility will be jointly operated by STT GDC and Hyosung Heavy Industries
Germany rejects UniCredit’s 39 billion euro Commerzbank offer
The government backs the bank’s independence and opposes the Italian lender’s ‘aggressive approach’
South Korea's Hanwha to raise KAI stake above 12% by end-2026, cites global space race
SEOUL, June 16 : South Korean defence-to-aerospace group Hanwha said on Tuesday it plans to raise its combined stake in Korea Aerospace Industries (KAI) to more than 12 per cent by the end of 2026, citing the need for closer ties as global competition in the space industry intensifies. Hanwha said t ...
Hanwha to raise stake in Korea Aerospace Industries to 12% by end-2026
(Corrects headline to Hanwha, not Hanwha Aerospace)SEOUL, June 16 : South Korean defence firm Hanwha Aerospace said on Tuesday it will buy 500 billion won ($331.41 million) worth of shares in Korea Aerospace Industries (KAI). This was in addition to Hanwha Aerospace deciding to acquire 499.9 billion ...
SpaceX set to surpass Amazon's market cap as post-IPO rally continues
June 16 : Shares of Elon Musk's SpaceX rose more than 10 per cent in premarket trading on Tuesday, putting the company on course to overtake Amazon.com in market value to become the world's fifth‑largest company, as it extended a post-IPO rally.The stock was last up 10.4 per cent at $212 ...
New Fed chief Warsh faces bumpy road as he leads tough first rate meeting
The Fed is unlikely to cut rates this week, but all eyes are on the direction Warsh will take at his post-decision...
European shares inch up as investors assess US-Iran agreement
The benchmark closed at a record high on Monday
JPM reiterates overweight call on CDL; GS says market underappreciates ROE uplift for asset-lighter models
The Edge Singapore - JP Morgan issued an update on City Developments (CDL) on June 16, reiterating its overweight call with a 12-month price target of $10.45. The report points out that since Kwek Leng Peck was appointed as vice chairman of CDL, the share price has rallied 10.1% compared to a 1.6% gain in the Straits Ti ...
Why governance, not adoption speed, will define the winners using AI in wealth management
Kevin Teng - Artificial intelligence (AI) is rapidly becoming a competitive necessity for businesses, accelerated by both market pressure and government-led digitalisation agendas. Organisations are racing to capture gains in productivity, efficiency, and innovation, while AI continues to drive significant workf ...
PhillipCapital raises target price for Zixin Group to 6 cents
The Edge Singapore - Serena Lim Yi Qi and Paul Chew of PhillipCapital have maintained their upbeat call on sweet potato company Zixin Group after its 2HFY2026 earnings that exceeded expectations. For the six months to March, Zixin reported earnings of RMB45.4 million, up 29.9% y-o-y, with revenue up 44.3% to RMB386.8 mi ...
SpaceX investors at US retail brokers got at least one IPO share
Demand for the shares exceeds US$100 billion
South Korean shares log two-week closing high on US-Iran deal
On Monday, it rose 5.2 per cent
Can ST Engineering aspire to challenge DBS to be king of the local bourse?
Leslie Yee - Growing leading companies outside the banking sector will make the local stock market more vibrant
French domestic spy agency ditches Palantir for local rival, PM says
PARIS, June 16 : The French domestic intelligence agency DGSI has decided to terminate its contract with the U.S. tech firm Palantir in favour of a French rival, ChapsVision, Prime Minister Sebastien Lecornu said on Tuesday.The move reflects growing wariness by European governments about dependency ...
France to invest €655 million in AI, set up common chatbot for all state services
PARIS, June 16 : French Prime Minister Sebastien Lecornu said on Tuesday the government will invest €655 million ($758.29 million) in artificial intelligence and will set up a common chatbot for all the state services.• The French government will create a public health chatbot for state-owned he ...
More central banks increasing domestic gold storage, diversifying overseas vaulting: survey
Benicia Tan - The World Gold Council says 93% of respondents reported already holding the metal, up from 81% last year
More central banks signal plans to increase gold holdings, survey shows
WGC says 93% of respondents reported already holding gold, up from 81% a year ago
Italy's antitrust regulator probes Apple over cloud services under Digital Market rules
MILAN, June 16 : Italy's competition regulator said on Tuesday it had opened a probe into Apple over compliance with interoperability obligations, under the European Digital Markets Act.
KPMG scandal deepens Big Four accounting firms’ woes in Australia
Latest controversy will likely accelerate sector decline, analysts say
Scenario of AI-driven jobless economic growth need not scare investors and society
Leslie Yee - Singapore can win in the age of AI and this will benefit local equities
Australia’s central bank warns rate hikes might not be over after holding fire
The RBA has already raised rates by 75 basis points since February
Strait of Hormuz transit will take ‘weeks’ to resume, Mitsui OSK CEO tells FT
The agreement between US and Iran being finalised had not changed Jotaro Tamura’s view
India blocks Telegram messaging app until June 22, government says
NEW DELHI, June 16 : India has blocked the Telegram messaging app until June 22, saying the platform has been used to "defraud candidates" taking the medical entrance examination, the Ministry of Education said in a statement on Tuesday.
India temporarily blocks Telegram app over medical exam fraud
NEW DELHI: India has temporarily blocked the Telegram messaging app, saying it was used to try to defraud candidates for a national medical entrance test, which had already been hit by allegations of leaked papers last month that led millions of results to be cancelled.The ban, which is unprecede
India curbs Telegram use over medical exam fraud concerns
NEW DELHI: India has blocked the Telegram messaging app until Jun 22, saying the platform has been used to "defraud candidates" taking a national medical entrance examination, the Ministry of Education said in a statement on Tuesday (Jun 16).The government said it was restricting access to ...
Vietnam stocks see biggest foreign inflows in nearly six years
Despite the latest inflow, foreign investors have sold a net US$2.6 billion worth of Vietnamese equities so far this year
Singapore banks may need to address indirect exposure to captive coal in their financing policies
Janice Lim - Although such disclosures are not required by regulations, they do contribute to their ESG ratings
