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Ceigall India Secures INR1.25 Billion Battery Storage Project in Punjab, India

Ceigall India (NSE:CEIGALL, BOM:544223) has secured an order worth 1.25 billion Indian rupees from Punjab State Power Corporation, according to a filing to the Indian stock exchanges.The contract entails setting up a 50 MW standalone battery energy storage system (BESS) in Punjab, India. The company will also operate, maintain, and supply power for 12 years.The project will be executed in 18 months.The company's shares were up nearly 1% in recent trade.

BOM:544223NSE:CEIGALL

Oil & Energy54d ago

Market Chatter: Iraq, Pakistan Strike Bilateral Energy Pacts With Iran For Passage via Hormuz

Iraq and Pakistan have reached separate bilateral agreements with Iran to facilitate the shipment of crude oil and liquefied natural gas through the Strait of Hormuz, according to a Reuters report on Tuesday.These deals underscore Tehran's evolving strategy from blocking the strategic chokepoint to actively controlling its access, as per the report.Amidst the ongoing regional conflict that has slashed energy exports by nearly 80%, these arrangements allowed two Iraqi supertankers carrying 4 million barrels of crude to transit the strait on Sunday, while two vessels of Qatari LNG are currently en route to Pakistan to meet soaring summer electricity demands, the report said.For Iraq, the agreement is a fiscal necessity, as oil revenues constitute 95% of its national budget.The report further noted that Baghdad is currently coordinating with Tehran to secure further approvals for transits, involving a rigorous documentation process.Specialized teams at the Iraqi Oil Ministry are reportedly providing Iranian naval forces with granular data on every vessel, including cargo specifications and ownership details, to navigate designated maritime routes.Similarly, while Qatar was not a direct signatory to the Pakistan-Iran pact, it reportedly informed Washington ahead of the LNG shipments to Islamabad to ensure diplomatic transparency, it said.Despite the heightened military presence and US blockades on Iranian ports, these shipments proceeded without direct payments to Iran or the Islamic Revolutionary Guard Corps, the report stated.With maritime traffic through the Strait of Hormuz currently at just 5% of pre-war levels, other energy-dependent nations are reportedly exploring similar safe passage frameworks as global Brent crude prices remain 50% higher than February levels, it added.None of the parties involved responded immediately to' request for comments.(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.)

Oil & Energy54d ago

IEA Forecasts Oil Market to Remain in Deficit Until Q4

Commodities54d ago

Global Observed Oil Inventories Drew by 129 Million Barrels in March, 117 Million Barrels in April: IEA

Oil & Energy54d ago

IEA Says Global Oil Demand Forecast to Contract by 420,000 b/d YOY in 2026, to 104 Million b/d

Commodities54d ago

IEA Says Global Oil Supply Declined by Further 1.8 Million b/d in April to 95.1 Million b/d, Total Losses Reach 12.8 Million b/d Since February

Asia54d ago

Market Chatter: Pertamina Patra Niaga's Ex-President Director Handed Six-Year Prison Term in Corruption Case

Pertamina Patra Niaga's ex-president director, Alfian Nasution, has been sentenced to a prison term of six years in a fuel purchase corruption case, The Jakarta Globe reported Tuesday.Central Jakarta District Court judges also handed a six-year sentence to Hanung Budya Yuktyanta, the company's marketing and trading director, under the same case.The executives were guilty of appointing oil storage terminal operators with substandard facilities, authorizing inaccurate Pertalite gasoline state subsidy payments, and selling diesel below production cost, according to the report.The court imposed lighter sentences than the 14-year jail terms pursued by prosecutors, stating the prosecutors were unable to prove personal enrichment by the defendants, The Jakarta Post said.The corruption case reportedly led to 285 trillion rupiah of losses to the state, the news report said.(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.)

^JKSE

Asia54d ago

StanChart Buys Back Shares

Standard Chartered (HKG:2888) repurchased 782,380 shares on Tuesday at an average price of 18.27 pounds sterling apiece, according to a Wednesday filing with the Hong Kong bourse.The British lender plans to cancel the shares, following which it will have about 2.21 billion shares in issue.

HKG:2888

Asia54d ago

Xinlian Electronics Bags China State Grid's Bid for 55 Million Yuan

Nanjing Xinlian Electronics (SHE:002546) won a bid from the State Grid Corporation of China for four packages worth 54.5 million yuan, according to a Shenzhen bourse filing on Wednesday.The packages included smart integrated terminals and special transformer collection terminals.The metering company's shares jumped 4% at the close.

SHE:002546

Asia54d ago

NITCO Receives Additional Marble Order Worth INR667 Million From Prestige Estates; Shares Jump 5%

NITCO (NSE:NITCO) received an additional marble supply order worth 666.5 million Indian rupees from Prestige Estates Projects, according to a Tuesday filing on Indian bourses.Shares of the company jumped nearly 5% in Wednesday's trade.With the latest order, the aggregate order value from Prestige Estates stands at about 3.47 billion rupees, the company said in the filing.The company expects to execute the order over around 12 months, the filing said.

BOM:532722NSE:NITCO

Asia54d ago

Fengyuan Pharma's Unit Gets Nod for Marketing of Vonoprazan Fumarate

Anhui Fengyuan Pharmaceutical's (SHE:000153) unit, Bengbu Fengyuan Tushan Pharmaceutical, obtained approval from China's National Medical Products Administration for the marketing of vonoprazan fumarate, according to a Shenzhen bourse filing on Wednesday.The chemical raw material was developed for the treatment of reflux esophagitis and Helicobacter pylori infection.

SHE:000153

Oil & Energy54d ago

Europe Increases Reliance on US LNG but Risks Over-Building Logistics Capacity for Imports

Europe is increasing its reliance on US supplies of liquefied natural gas and will meet two-thirds of its needs with natural gas of that origin, according to research by the Institute for Energy Economics and Financial Analysis on Wednesday.The report warned, however, that with efforts to increase domestic energy supplies within the bloc and steady progress on renewables deployment, the EU could end up with LNG import facilities far in excess of its future needs.Europe's imports of LNG from the US tripled in the 2021 to 2025 period as the continent sought to turn away from Russian pipeline gas.With more disruption from the Iran war and the weeks-long closure of the Strait of Hormuz, IEEFA predicts that the US will surpass Norway and become the largest single supplier of gas to the EU at some point this year.IEEFA further suggests the US could account for 80% of EU LNG imports by 2028."Europe's shift from pipeline gas to LNG was meant to provide security of supply and diversification. Yet disruptions caused by the war in the Middle East and an overreliance on US LNG show that Europe's plan has failed on both counts," said Ana Maria Jaller-Makarewicz, lead energy analyst, Europe, at IEEFA."LNG has become the Achilles' heel of Europe's energy security strategy, leaving the continent exposed to high gas prices and to new forms of supply disruption."Repeated energy disruption has prompted EU policymakers to give a higher priority to energy security and to seek to produce more energy domestically - which entails more renewables and more electrification of the economy.So while Europe could source more of its gas from the US going forward, IEEFA says its possible that the continent's gas consumption could fall this year and by a cumulative 14% between now and 2030.That would have a disproportionately large effect on LNG import needs, reducing demand by an estimated 23%, it said.European countries are still planning to build more LNG terminals nonetheless, even with the risk they could end up under-used.IEEFA estimates it is possible that Europe's 2030 LNG import capacity could grow to as much as three times the volume of LNG demand."Europe may have no control over LNG supply disruptions, but it can boost energy efficiency and accelerate renewables and heat pump installations to reduce its import dependency," said Jaller-Makarewicz.Despite an upcoming end to the EU's purchases of Russian gas, it remains the second largest LNG supplier to the block and the decline in imports was turned around in Q1 when Russia sent 16% more LNG than in Q1 of 2025. LNG imports to Europe actually set a record in Q1, 2026, IEEFA said.EU countries bought 5.9 billion ($6.91 billion euros) of Russian pipeline gas and 6.7 billion of LNG in 2025, the research said.

Asia54d ago

China Stocks Rebound as Investors Await Trump-Xi Summit; Shenzhen's Tech Index Closes at All-Time High

China stocks recovered during Wednesday trading as investors brace for the impact of the meeting between Presidents Xi Jinping and Donald Trump in Beijing this week.The Shanghai Composite Index, the main gauge of Chinese stocks, gained 0.7% or 28.08 points to reach 4,242.57. The Shenzhen Component Index rose 1.7% or by 264.83 points to 16,089.75.Shenzhen's ChiNext closed at an all-time high, rising 3% or by 103.45 points to 4,038.33.Shanghai's STAR Market Semiconductor Index closed 5% higher.Nvidia CEO Jensen Huang joined other chief executives at the eleventh hour following a last-minute call from Trump, Reuters reported.Both Xi and Trump will hold their first face-to-face talks in more than six months to stabilize relations mired by trade disagreements, the Iran war, and other flashpoints, Reuters reported Wednesday."Geopolitics will be at the front of minds for many investors, particularly if the meeting helps energy supply concerns in the Gulf," Reuters quoted L&G's chief of investment strategy in Asia, Ben Bennett, as saying.However, investors are keeping their expectations low and are not looking for breakthroughs in the meeting between the two world powers, the newswire said."We've seen this movie before, and we know it doesn't end with a breakthrough agreement that resets the U.S.-China relationship. That creates a pretty low bar for success," the newswire quoted Rayliant Investment Research's Chief Research Officer Phillip Wool as saying.On the corporate front, Wuxi Huaguang Environment & Energy (SHA:600475) surged 10% at market close after associate Guolian Green Technology (Wuxi) applied for a listing on the Hong Kong Stock Exchange.

Shanghai Composite^SZSESHA:600475

Asia54d ago

Yantai Dongcheng Pharmaceutical Unit to Buy Back Minority Stake for Up to 452 Million Yuan

Yantai Dongcheng Pharmaceutical (SHE:002675) unit Andy Center agreed to repurchase a 34.55% stake in Mido (Yantai) Biotechnology for up to 452.3 million yuan.The price includes the 380-million-yuan investment plus 8% annual compound interest from the investment date to the repurchase date.After the buyback, Mido (Yantai) Biotechnology will convert capital reserves to boost Andy Center's registered capital by up to 4.3 million, based on a 1.1-billion-yuan valuation.

SHE:002675

Commodities54d ago

Asia Biofuels Update: Malaysian Palm Oil Slips on Weaker Crude Oil, Market Pressures

Malaysian palm oil eased further on Wednesday as crude oil prices ended a three-session rally, and as both demand-side and supply-side pressures persisted.The Bursa Malaysia Derivatives' June crude palm oil contract slipped 1.39% to 4,388 Malaysian ringgit ($1,115.40) per metric ton. The July contract lost 1.41% to 4,418 ringgit/mt. Both contracts touched their lowest since mid-March earlier in the session.Developments on the energy market continued to influence biofuels feedstock futures. Oil prices, on Wednesday, dipped ahead of the much-anticipated Trump-Xi summit, despite a lack of progress in a peace deal between the US and Iran.A month-over-month increase in Malaysian palm oil production and a decline in exports lifted stocks in April. Industry data showed that inventories rose 1.7% to 2.3 million metric tons, as output jumped 18.4% to 1.6 mmt, and as exports weakened 14.3% to 1.3 mmt.Malaysian inventories rose for the first time since December 2025, and remained significantly higher than the year-ago levels of 1.9 mmt. CIMB Securities, as cited by Business Today, projects stocks to further rise to 2.34 mmt this month.In May, export demand trends were mixed, with Intertek Testing Services estimating shipments to have risen 8.5% during the first 10 days of the month versus the same period in April, and AmSpec Agri Malaysia assessing a 10.8% decline, Trading Economics reported.In terms of prices, CIMB Securities reportedly said palm oil futures will likely remain elevated this month, largely due to expanding biofuel programs in Indonesia and Malaysia, geopolitical tensions in the Middle East, and El Nino-related supply risks.In the plantation sector, RHB Research, as cited by Business Today, said Q2 earnings would likely recover from Q1 lows as prices firm and as production increases.

Asia54d ago

Anhui Deli Household Glass Ends Photovoltaic Glass Deal After Unit's Closure

Anhui Deli Household Glass (SHE:002571) terminated a long-term photovoltaic glass procurement deal with LONGi Green Energy Technology (SHA:601012) after a unit suspended production, according to a Shenzhen bourse filing on Wednesday.The unit, Bengbu Deli Photovoltaic Materials, suspended production due to an imbalance in supply and demand and declining glass prices.The deal was first signed in 2021 between Bengbu Deli and ten of LONGi's subsidiaries.

SHA:601012SHE:002571

US Markets54d ago

Deutsche Telekom Reaffirms 2026 Adjusted EPS Outlook, Tweaks Other Guidance as US Unit's First-quarter Revenue Jumps

Deutsche Telekom (DTE.F) reiterated its 2026 adjusted EPS projection and nudged its adjusted EBITDA guidance higher after strong first-quarter revenue growth at its largest earnings contributor, T-Mobile US.The German telecommunications giant on Wednesday maintained its adjusted EPS guidance for the full year at 2.2 euros, while slightly raising expectations for adjusted EBITDA, after deducting lease expenses, to 47.5 billion euros from the previous 47.4 billion euros.Overall, group profit attributable to owners of the parent fell to 2.04 billion euros from 2.85 billion euros a year earlier, while net revenue edged up to 29.87 billion euros from 29.76 billion euros.Deutsche Telekom's majority-owned T-Mobile US posted a 10.9% year-over-year increase in revenue to $23.1 billion, supported by an 11.5% jump in service revenue. Postpaid accounts grew 6% to 34.4 million, prompting the company to raise its forecast for net account additions to between 950,000 and 1.1 million from its earlier guidance of 900,000 to 1 million.In Germany, the telecom group's total revenue increased 2.1% in organic terms to 6.3 billion euros in the first quarter. Mobile service revenue was up 2.1% year over year, while the company added 200,000 new customers in the three-month period.Meanwhile, the group's IT services and consulting arm T-Systems saw a 2.1% organic revenue growth in the quarter to 1 billion euros. Order entry for the unit increased 3.6% year over year to 994 million euros.The stock was up more than 1% in early morning trade.

$DTE.F

Asia54d ago

Electronics Mart India Starts Commercial Operations of New Multi-Brand Store in Andhra Pradesh

Electronics Mart India (NSE:EMIL, BOM:543626) began the commercial operations of a new multi-brand store, named BAJAJ ELECTRONICS, on Tuesday in Pallakol, Andhra Pradesh, India, according to a same-day filing.Shares of the company rose nearly 3% in Wednesday's trade.

BOM:543626NSE:EMIL

Asia54d ago

Race Eco Chain Step-Down Unit Receives INR20 Million Investment; Shares Slip 3%

Race Eco Chain (NSE:RACE, BOM:537785) said its subsidiary Ganesha Recycling Chain invested 20 million rupees in GEM Polymers, a step-down subsidiary of the company, according to a Tuesday filing on Indian bourses.Shares of Race Eco Chain fell nearly 3% in Wednesday's trade.As part of the investment, Ganesha Recycling Chain has received 200,000 shares, or a 49% stake, in GEM Polymers.

BOM:537785NSE:RACE

Asia54d ago

Pharscin Pharmaceutical's Throat Drug Completes Manufacturing Filing Process

Pharscin Pharmaceutical's (SHE:002907) Ganjie Bingmei Tablets completed the domestic drug manufacturing filing process with China's National Medical Products Administration, according to a Shenzhen bourse filing on Wednesday.The drug is used to treat dry throat, sore throat, hoarseness and pharyngeal mucosal congestion.The Chinese pharmaceutical company's shares slipped 1% at the close.

SHE:002907

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Oil & Energy54d ago