Cosmosteel’s CEO Ong resigns after 3HA Capital offer declared unconditional
Felicia Tan - Cosmosteel’s CEO and executive director, Jack Ong Tong Hai, has resigned from his position due to “personal reasons”. Ong, who has been with the company since 1998, was appointed to his current position in July 2019. His last day will be on Dec 31. Ong’s departure comes after 3HA Capital’s ...
Death toll rises to four in Red Sea Houthi ship attack: EU naval force
At least four people are dead, according to the European Union naval force, after a Houthi attack on a cargo ship in the Red Sea earlier this week. The Yemen-based militant group has taken some crew members, while ten have been rescued according to the Greek operator of the vessel, Cosmoship Managem ...
NTT DC REIT's IPO 4.6 times subscribed
The Edge Singapore - Singapore's largest REIT IPO since 2013 is 4.6 times subscribed, with eyes next on how the opening trade will be when the gong is struck at 2 pm on Monday, July 14. A total of nearly 599.9 million NTT Data Centre REIT units were sold at US$1 each. Besides a public tranche of 30 million units, w ...
Vietnam surprised by Trump tariff announcement, seeks lower rate
The 20% figure came as a surprise as Hanoi believed it had secured a more favourable tariff range, sources say
Gazprom, CNPC discuss future Russian gas supplies to China
MOSCOW: The heads of Russia's Gazprom and China's energy company CNPC discussed future Russian gas supplies to China during talks in Beijing, Gazprom said on Friday (Jul 11), as Moscow seeks stronger ties with the world's biggest energy consumer. Russia, the holder of world's lar ...
NTT DC Reit’s Singapore public offer 9.8 times oversubscribed
Wong Chia Peck - It has received applications for 294.8 million units compared to the 30 million available in public tranche of IPO
Dollar strengthens against peers as Trump rekindles trade tensions; bitcoin hits record high
NEW YORK :The U.S. dollar rose against major currencies including the yen and euro as President Donald Trump rekindled trade tensions with new tariffs on Canada and other trading partners.Trump issued a letter late on Thursday that said a 35 per cent tariff rate on all imports from Canada would appl ...
Dollar edges up as Trump unveils new tariffs; bitcoin at record
NEW YORK :The dollar edged up across the board on Friday as U.S. President Donald Trump's ramped-up tariffs on Canada and other trading partners sparked a flight to safety.Trump issued a letter late on Thursday that said a 35 per cent tariff rate on all imports from Canada would apply from Augu ...
Paris prosecutor contacts police as probe into social media platform X advances
PARIS :The Paris public prosecutor's office said on Friday it had contacted police as it advanced its probe launched earlier in the year against Elon Musk's X social media platform over alleged algorithmic bias.The investigations will focus on suspicion of "tampering with the operatio ...
Paris prosecutors ask police to join investigation of Musk's X
PARIS :A French probe into Elon Musk's social media platform X deepened on Friday, when the Paris prosecutor's office said it had enlisted police to investigate suspected abuse of algorithms and fraudulent data extraction by the company or its executives. The move adds to the pressure on ...
US: Wall St opens lower amid Trump's fresh tariff salvo on Canada
[NEW YORK] Wall Street’s main indexes opened lower on Friday (Jul 11) as President Donald Trump cranked up his tariff assault on...
UN report urges stronger measures to detect AI-driven deepfakes
GENEVA :Companies must use advanced tools to detect and stamp out misinformation and deepfake content to help counter growing risks of election interference and financial fraud, the United Nations’ International Telecommunication Union urged in a report on Friday.Deepfakes such as AI-generated ima ...
Eni, Dubai-based Khazna team up to build data center campus in Italy
MILAN :Italian energy group Eni and Dubai-based Khazna have signed a preliminary agreement to jointly develop a 500-megawatt (MW) data centre campus in northern Italy, the two companies said on Friday.The campus, to be located near Milan, is part of a broader partnership between the Italy and the Un ...
Exclusive-Meta won't tweak pay-or-consent model further despite risk of EU fines, sources say
BRUSSELS :Meta Platforms is very unlikely to offer more changes to its pay-or-consent model, meaning it is almost certain to be hit by fresh EU antitrust charges and hefty daily fines, people with direct knowledge of the matter said on Friday.The European Commission last month warned Meta of possibl ...
SAC Capital initiates ‘buy’ on Sanli Environmental after $105.3 mil contract win from PUB
Felicia Tan - SAC Capital analysts Matthias Chan and Liu Maorong have initiated a “buy” call on Singapore-based environmental engineering firm Sanli Environmental after the group was awarded a new project by PUB with a contract value of $105.3 million. The analysts, who have given Sanli Environmental a target ...
STI may retreat on strong overbought pressures but REIT Index may break out
Goola Warden - The 21-day RSI of the Straits Times Index and its quarterly momentum are at their highest levels in five years pointing to an overbought situation. Hence, although no negative divergence has appeared on the charts between the index and its indicators, in the near term, there is likely to be a pause ...
Creative Technology warns H2 revenue may be below target, with operating loss similar to that in H1
Wong Chia Peck - It says US tariffs and global trade tensions weakened consumer sentiment, dragging down revenue
LMS Compliance completes acquisition of 75% stake in Anchor Technology Holdings
Felicia Tan - LMS Compliance has completed its acquisition of a 75% stake in novel food certification and registration services provider, Anchor Technology Holdings, on July 11. Anchor Technology Holdings is now a 75%-owned indirect subsidiary of LMS Compliance. The acquisition was first announced on Jan 27, when ...
Global equity funds draw second weekly inflow on AI rally, tariff delay
Global equity funds drew inflows for a second consecutive week in the seven days to July 9, boosted by a rally in AI-linked stocks and expectations that pushing the U.S. tariff rollout to August could positively affect ongoing trade talks.Investors purchased a net $10.21 billion in global equity fun ...
London's Heathrow eyes higher fees for £10b upgrade
It will add another 10 million passengers per year by 2031 at Europe’s busiest airport
Union Steel disposes of yet another 30 mil shares in Eneco Energy for $345,000 via off-market transaction
Felicia Tan - Union Steel has disposed of yet another 30 million shares in Eneco Energy via an off-market transaction dated July 11. The shares were sold for $345,000 or 1.15 cents per share. Union Steel has been steadily disposing its shares in Eneco Energy via off-market transactions on several occasions. The f ...
Indonesia detains Trafigura employee in US$17 billion graft case
The company is providing legal representation while awaiting further details about the allegations
Indonesia detains Trafigura employee in 285 trillion rupiah graft case
The company is providing legal representation while awaiting further details about the allegations
Creative guides for ‘similar level of operating loss’ for 2HFY2025
Felicia Tan - Creative Technology says it is expecting to report a “similar level of operating loss” for the 2HFY2025 ended June 30 compared to its 1HFY2025. Revenue for the second half of the company’s financial year is also expected to be below target at around US$30 million ($38.4 million) due to the unc ...
Bitcoin's new record lifts industry stocks ahead of 'Crypto Week' in Washington
U.S.-listed crypto stocks jumped in premarket trading on Friday as bitcoin surged to a record high in the run-up to a landmark week that could cement policy wins for the crypto industry.Starting July 14, the House of Representatives will debate three major crypto bills that are likely to provide the ...
Bitcoin's record high lifts crypto stocks on renewed regulatory optimism
U.S.-listed cryptocurrency stocks rose in premarket trading on Friday as bitcoin surged to a record high on growing optimism that regulatory hurdles would soon begin to ease.The upbeat sentiment is a result of court rulings and policy signals suggesting a shift toward clearer oversight instead of ou ...
Crypto investors look ahead to policy wins, propelling bitcoin to record high
Crypto investors are betting that a slew of long-sought policy wins for the industry, expected next week, could invite new investment in the asset class.Those hopes helped propel bitcoin to another high on Friday and gave a boost to U.S.-listed crypto stocks. Starting on Monday, the House of Repres ...
Who is Tan Teck Long, the former DBS veteran who is OCBC’s incoming CEO?
Tan Nai Lun - The 55-year-old, who is now OCBC’s head of global wholesale banking, is said to have a deep knowledge of the China market
Daily Debrief: What Happened Today (Jul 11)
Stories you might have missed
MAS, PBOC to deepen collaboration in green and transition finance
Wong Chia Peck - Central banks of Singapore and China discuss initiatives, including enhancing the interoperability of taxonomies, facilitation of green finance flows
MAS, PBOC to deepen cooperation in green and transition finance
Wong Chia Peck - Central banks of Singapore and China discuss initiatives, including enhancing the interoperability of taxonomies, facilitation of green finance flows
Singapore stocks notch 5-day rally ahead of GDP data
Mia Pei - Straits Times Index closes 0.3% or 12.11 points higher at 4,087.81
Records galore: Six things to know about the World Aquatics Championships in Singapore
Lee U-Wen - Athletes are competing for a prize money pool of over US$6 million, with an additional US$30,000 world-record bonus in swimming
CGSI downgrades Grab to ‘hold’ with earnings growth expected to slow in H2
Young Zhan Heng - The slowdown in earnings is expected to be especially pronounced in Grab’s delivery business
