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Market Chatter: Germany Reportedly Mulls Extension of Emergency Oil Reserve Waiver Past August

Germany is said to be evaluating a potential extension of its relaxed emergency oil storage rule beyond the Aug. 31 expiration date, Reuters reported Thursday, citing a spokesperson from the country's economy ministry.The measure was originally introduced in March as Germany joined an International Energy Agency-coordinated emergency oil release, under which the country committed 19.5 million barrels of oil to a record 400-million-barrel global release aimed at stabilizing surging crude prices amid supply disruptions caused by the conflict in the Middle East.The German Ministry of Economic Affairs and Energy did not immediately respond to a request for comment from.(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.)

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Asia41d ago

General Insurance Corporation of India Appoints CFO

General Insurance Corporation of India (NSE:GICRE, BOM:540755) appointed Rajesh Laheri as chief financial officer, effective from Thursday, according to a same-day filing to the Indian stock exchanges.He succeeds V. Balkrishna, who has resigned from the role.The company's shares were up nearly 2% in recent trade.

BOM:540755NSE:GICRE

Asia41d ago

Global Resource Construction's Unit Bags SG$35 Million Project

Global Resource Construction's (SGX:S3N) subsidiary, CES-Precast, was awarded a contract worth SG$35 million by Ho Lee Construction, according to a Thursday filing with the Singapore Exchange.The 24-month contract is for the supply and delivery of precast concrete components for a construction project at Berlayar Street in Singapore.

SGX:S3N

Asia41d ago

Singapore Adds Crypto Exchange Bybit to Investor Alert List

The Monetary Authority of Singapore has added Dubai-based cryptocurrency exchange Bybit Fintech to its investor alert list on Wednesday.The exchange was added as it has never been licensed to operate in the city-state, Bloomberg reported Thursday.MAS said on its website that entities in the list may be or may have been wrongly perceived as being licensed by the regulator, among other reasons.Meanwhile, the company has confirmed its inclusion on the list and is engaging with the regulator, according to its official post on X.

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Asia41d ago

NIU Holdings Forecasts Fiscal Loss

NIU Holdings (HKG:8619) said it expects HK$96 million to HK$99 million in net loss for the fiscal year ended March 31, sliding from a profit of HK$64.5 million a year earlier, according to a Thursday filing with the Hong Kong bourse.The firm attributed the decline to a HK$74 million loss on financial assets during the fiscal year.

HKG:8619

Equities41d ago

Odfjell Technology Extends North Sea Drilling Services Contract

Odfjell Technology (OTL.OL) said Thursday a major North Sea operator exercised a two-year extension option covering a drilling services contract, extending its firm term to November 2028.The contract covers operations management, maintenance, and repair services for the platform's main drilling rig and intervention completion unit. The technology and engineering company also secured an additional two-year option from the customer.

$OTL.OL

Asia41d ago

Market Chatter: Hyundai Motor to Acquire SoftBank's Balance Stake in Boston Dynamics for $325 Million

Hyundai Motor (KRX:005380) agreed to purchase SoftBank's remaining 9.65% stake in Boston Dynamics for $325 million after the investor exercised its right to exit the business, South Korea's Maeil Business reported on Friday.The deal will give the South Korean automaker full control of the U.S. robotics firm after it acquired a controlling stake in 2021, the report said.Hyundai Motor is expected to call a board meeting on June 22 to finalize the purchase, the report said.Hyundai Motor and SoftBank did not immediately respond to requests for comment from.(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.)

KRX:005380

US Markets41d ago

BOJ's April Minutes Show Growing Support for Rate Hikes as Inflation Risks Rise

Minutes from the Bank of Japan's April policy meeting showed several board members were increasingly concerned about upside inflation risks, with some arguing interest rates should be raised immediately as higher energy prices threatened to push inflation above target.At the April 27-28 meeting, the BOJ voted 6-3 to keep its policy rate at 0.75%, though three members proposed raising it to 1.0%.The minutes showed policymakers growing more concerned that higher crude oil prices linked to tensions in the Middle East could spill over into broader price pressures.One member warned that "risks to prices were skewed to the upside under accommodative financial conditions," while another argued that "the price stability target had been more or less achieved."Several members said firms had become more willing to pass rising costs on to consumers, increasing the risk that inflation could exceed the BOJ's projections."It was highly likely that firms would start passing on to selling prices not only cost increases stemming from the current rise in crude oil prices, but also past increases in personnel costs," the minutes showed.Some policymakers also expressed concern that inflation expectations were becoming more entrenched."There was concern over the risk of medium- to long-term inflation expectations and the underlying inflation rate rising above 2 percent," the minutes said.While members agreed Japan's economy was recovering moderately, they noted growing uncertainty stemming from the situation in the Middle East.The board said the economy was likely to continue growing moderately, albeit at a slower pace, supported by strong corporate profits, improving employment and income conditions, and government measures to reduce the burden of higher energy costs.The discussion foreshadowed the BOJ's decision on Tuesday to raise its policy rate by 25 basis points to 1.0%, the highest level since 1995.The decision was approved by a 7-1 vote.Governor Kazuo Ueda missed the meeting due to a two-week hospital stay for an infected liver cyst, with Deputy Governor Shinichi Uchida standing in at the post-meeting briefing and reaffirming the BOJ's tightening bias."Regarding the question of falling behind the curve, our basic approach is to continue raising policy interest rates while adjusting the degree of monetary easing," Uchida said.At that meeting, the central bank warned that higher crude oil prices were increasingly being passed through to businesses and could spread to consumer prices across a broad range of goods, creating a risk that underlying inflation could rise above its 2% target.The BOJ also signaled that further rate increases remain under consideration, saying it will continue to adjust the degree of monetary accommodation in response to developments in economic activity and prices.The central bank added that it would closely monitor the impact of the conflict in the Middle East on Japan's economy and inflation outlook when determining the timing and pace of future policy adjustments.

Nikkei 225

Asia41d ago

IKK Holding Completes Off-Auction Distribution of 1.4 Million Shares

IKK Holding (TYO:2198) said it completed an off-auction distribution of 1.4 million shares at 660 yen apiece as part of efforts to improve share distribution and trading liquidity, according to a Friday filing on the Tokyo Stock Exchange.The wedding business firm said that applications for the transaction conducted the same day on the Tokyo Stock Exchange were capped at 10,000 shares per investor.Following the transaction, the holding of major shareholder Katsushi Kaneko fell to 1.7 million shares, or 5.78% of voting rights, from 3.1 million shares, or 10.51% of voting rights.

TYO:2198

Asia41d ago

PUC Proposes Private Placement of Shares, to Acquire H BESS for MYR7 Million

PUC (KLSE:PUC) proposed a private placement of up to 304.8 million new ordinary shares, representing 10% of its existing issued share capital, to be issued to selected third-party investors.The company will determine the issue price and other details later.In the same filing, the company disclosed plans to acquire the entire equity interest in H BESS for 6.8 million ringgit, to be fully satisfied in cash.The stake will be purchased from Yong Tzen Wae and Chua Sai Men, it said.

KLSE:PUC

International41d ago

GfK: UK Consumer Confidence Unchanged in June

Britain's consumer confidence indicator was stable month over month at -23 points in June, market research company Growth from Knowledge said Friday.Analysts expected -24 points for the month.

FTSE 100

Asia41d ago

KHPT Unit Secures Components Supply Deal from Proton

KHPT (KLSE:KHB) unit Automev Global bagged a letter of acceptance from Perusahaan Otomobil Nasional (PROTON) to supply automotive structural components for a new vehicle model.The letter was accepted on May 16, and the company was allowed by Proton to announce the deal on June 16, the filing said.The deal will remain valid for the model's lifecycle, unless extended or terminated, according to a Thursday Malaysian bourse filing.KHPT said the contract is expected to generate about 155 million ringgit in revenue over its duration and will contribute positively to earnings.

KLSE:KHB

Asia41d ago

Attika Group Issues 135 Million Bonus Shares; Shares Down 5%

Attika Group (SGX:53W) allotted and issued 134.9 million bonus shares on Thursday, according to a same-day filing with the Singapore Exchange.Shares of the commercial interior decoration and engineering company were down nearly 5% in Friday trading.The new shares are expected to be listed and quoted on June 22, the filing said.

SGX:53W

International41d ago

Malaysia's Trade Surplus Widens in May as Exports Surge to Record High

Malaysia's trade surplus expanded to 40.4 billion ringgit in May, according to data from the Department of Statistics Malaysia released Friday.The surplus jumped from 28.8 billion ringgit in the previous month, beating the consensus estimate of 23.2 billion ringgit tracked by Investing.com.Total exports surged 45.3% year over year to a record 184 billion ringgit, compared with a 16.4% increase in April. On a monthly basis, exports edged up 0.4%.Imports rose 14.1% to 143.6 billion ringgit, following a 20% increase in April. Compared with the previous month, imports declined 6.8%.

FTSE Bursa Malaysia KLCI

Asia41d ago

Lemon Tree Hotels Signs Pacts to Open Two New Resorts in Maharashtra, India

Hospitality company Lemon Tree Hotels (NSE:LEMONTREE, BOM:541233) has signed license agreements for two new resorts in Maharashtra, India, according to a Thursday filing to the Indian stock exchanges.The two properties, Lemon Tree Resort, Tadgaon, and Lemon Tree Resort, Igatpuri, will be managed by the company's wholly-owned subsidiary, Carnation Hotels.While the Tadgaon resort will have 110 rooms, the Igatpuri hotel will have 90 rooms.With these two new signings, the company will have 32 properties in Maharashtra, with 15 operational and 17 in the pipeline.

BOM:541233NSE:LEMONTREE

Asia41d ago

Elife Expects Turnaround to Profitability

Elife (HKG:0223) expects HK$1.8 million in attributable profit for the fiscal year ended March 31, a turnaround from the HK$97.8 million attributable loss in the prior-year period, according to a Thursday filing with the Hong Kong bourse.The firm attributed the turnaround to the absence of a HK$40.7 million disposal loss recorded in the last fiscal year.The company's financial results are due on June 29.

HKG:0223

Asia41d ago

Baker Technology to Spend SG$7 Million to Consolidate Operations at Pioneer Sector Site

Baker Technology (SGX:BTP) is looking to consolidate its operations at 6 Pioneer Sector in Singapore following the end of its lease period at two Jalan Samulun properties to Jurong Town Council, according to a Thursday filing with the Singapore Exchange.Shares of the marine infrastructure company were up over 2% in Friday trading.The company has already secured a lease extension for the 6 Pioneer Sector property until 2043 and has engaged a contractor to build a new office annex to increase floor space by around 70%.The project, which will cost around SG$7 million, is expected to be completed between the second half of 2027 and the first half of 2028.

SGX:BTP

International41d ago

Malaysia's Headline Inflation Rises Marginally to 2% in May

Malaysia's headline consumer price index (CPI) rose 2% year over year in May, according to data from the Department of Statistics Malaysia on Friday.The reading was below the consensus forecast of 2.1% growth tracked by Investing.com, and compared with a 1.9% expansion recorded in the previous month.The headline movement was driven by increases in information and communication, food and beverages, house and related utilities, as well as recreation and sports.Core inflation, which excludes volatile items, remained steady at 2% when compared with the previous month.On a month-over-month basis, Malaysia's headline CPI climbed 0.1%, compared with a 0.4% increase in the previous month.

FTSE Bursa Malaysia KLCI

Asia41d ago

King's Stone Expects Fiscal 2026 Loss to Narrow

King's Stone (HKG:1943) expects a net loss after tax of at least HK$14 million for fiscal 2026, narrowing from a net loss of about HK$99.4 million in fiscal 2025, according to a Thursday Hong Kong bourse filing.The company attributed the narrower loss to a surge in revenue to about HK$556.3 million from HK$173.4 million a year earlier and a reduction in administrative expenses.

HKG:1943

Equities41d ago

Update: Market Chatter: Uniper Sale Gains Momentum Amid Interest from 10 Bidders

(Updates to add Uniper and La Caisse's statements)German state-owned utility Uniper (UN0.F) received expressions of interest from around 10 prospective buyers as of the June 12 deadline, Bloomberg News wrote Thursday, citing people familiar with the matter.New bidders consist of KKR & Co., Japan's Jera, and Canadian pension fund Caisse de dépôt et placement du Québec, the sources said. Equinor (EQNR.OL), RWE (RWE.F), and Brookfield Asset Management in a consortium with Canada Pension Plan Investment Board, Vattenfall, Fortum (FORTUM.HE), Czech billionaire Daniel Křetínský's EPH, and TotalEnergies (TTE.PA, TTE.L, TTE.BR) also expressed interest in Uniper, according to the report.In an emailed statement to, Finnish state-owned Fortum said it does not comment on any possible ongoing processes, but is "always interested" in discussing the potential acquisition of hydro and nuclear power, including Uniper's Swedish assets.CPP Investments had no comment, while Uniper and La Caisse declined to comment. KKR, Jera, Equinor, RWE, Brookfield, Vattenfall, EPH, and TotalEnergies did not immediately respond to requests for comment from.(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.)

$EQNR.OL$FORTUM.HE$RWE.F$TTE.BR$TTE.L$TTE.PA$UN0.F

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US Markets41d ago

BOJ's April Minutes Show Growing Support for Rate Hikes as Inflation Risks Rise

Nikkei 225