GRG Banking Equipment (SHE:002152) won the bid to become the supplier for the phase II cloud resource leasing project of China's Guangzhou government for 309.2 million yuan, according to a Shenzhen bourse filing on Friday.
The company will provide cloud computing services between June 1 this year and May 31, 2027.
The financial technology services provider's shares dropped over 3% during the afternoon trade.
Australian shares closed the week higher on Friday after media reports that said the US and Iran had agreed to extend the ceasefire in the Middle East.The S&P/ASX 200 Index jumped 1.62%, or 138.80 points, to close at 8,731.70.The US and Iran reached an agreement to extend a ceasefire and lift restrictions on shipping through the Strait of Hormuz, Reuters reported on Friday, citing sources. However, US President Donald Trump has yet to approve the deal, and Iranian state media said it had not yet been finalized.Brent crude oil futures plunged to around $92 per barrel. The S&P 500 rose 0.6%, and the Nasdaq climbed 0.9% on Thursday, setting fresh record highs.On the domestic front, Australian small and medium enterprises in digitized industries such as finance, property, and business services are using artificial intelligence at two to three times the rate of manufacturing, transport, and retail sectors, according to a report by National Australia Bank. The bank said about 15% of jobs in Australia are highly or significantly exposed to AI.In company news, Dexus (ASX:DXS) lost its court bid to block the sale of its stake in Melbourne Airport, as the New South Wales Supreme Court ruled that the company was in violation of confidentiality agreements and must dispose of the interest. The company holds a roughly 27.3% stake in Australia Pacific Airports, which owns Melbourne's Tullamarine airport and the Launceston airport in Tasmania.Worley (ASX:WOR) is considering a potential appeal of an Australian Federal Court decision to uphold a shareholder class action lawsuit related to financial guidance. The court on Thursday ruled that the company misled investors when it issued 2013 earnings guidance, upholding an earlier appeal filed by the shareholders, and ordered Worley to pay the applicant's legal costs.ANZ Group Holdings (ASX:ANZ, NZE:ANZ) said ANZ Bank New Zealand filed an appeal in the Court of Appeal on Friday against the High Court of New Zealand's judgment against the bank in class action proceedings. The High Court ruled that ANZ Bank New Zealand breached the Credit Contracts and Consumer Finance Act 2003 in class action proceedings served in September 2021.
China Communications Construction (SHA:601800, HKG:1800) subsidiary CCCC Dingxin will act as dual general partners with ICBC Capital to establish a 1-billion-yuan venture capital fund in Chongqing.The fund will target artificial intelligence, building information modeling, cloud computing, 5G/6G, satellite internet, smart transportation, intelligent construction and low-altitude economy, according to a Friday filing with the Shanghai bourse.The fund has an eight-year term, including a four-year investment period and a four-year exit period.Shares of the infrastructure builder rose 3% in recent trade.
Electrical workers at BHP Group's (ASX:BHP) Port Hedland bulk port terminal in Western Australia will move forward with a vote on work stoppage after talks with management broke down, Reuters reported on Friday, citing a statement from the Electrical Trades Union (ETU).The workers were pushing for a labor deal with the mining firm to improve their pay and conditions, with talks between parties stalling after six months.BHP's labor agreement covers around 450 port workers, of whom around 200 are union members. The unionized workers will vote in the next two weeks to endorse work stoppages ranging from 15 minutes to 24 hours, the report said, citing ETU.A spokesperson for the mining firm said it is negotiating a new enterprise agreement with its port operations teams, per the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)