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WTI, Brent Crude Futures Jump Pre-Bell as US, Iran Remain Far Apart Ahead of Trump's China Visit

Genting Singapore's Net Profit Declines 55% in Q1

Genting Singapore's (SGX:G13) net profit after tax fell 55% in the first quarter of the year to SG$65.2 million from SG$145.0 million a year earlier, according to a Tuesday filing with the Singapore Exchange.Revenue also dropped 3% year over year to SG$607.6 million from SG$626.2 million, largely due to diminished returns from the gaming segment.

SGX:G13

Asia53d ago

Taiwan Cogeneration Books NT$1.54 Billion Profit in Q1

Taiwan Cogeneration (TPE:8926) reported a profit attributable to owners of NT$1.54 billion, or NT$2.11 per basic share, in the first quarter.Operating revenue amounted to NT$13.7 billion, according to a Tuesday Taiwan Exchange filing.The cogeneration (combined heat and power) plants operator did not provide comparative year-ago figures.

TPE:8926

Asia53d ago

Aedge Unit Bags New Singapore Dormitory License

Aedge's (SGX:XVG) subsidiary, Gems Dormitory, secured a Class 3 license from the Ministry of Manpower, allowing it to operate a dormitory at 4 Tuas in Singapore named Beryl House, according to a Tuesday bourse filing.Under Singaporean regulations, a Class 3 license covers dormitories with an occupancy of around 999 beds, with Gems Dormitory's total bed capacity standing at 707 beds. Following the new license, the company will progressively increase occupancy at Beryl House.Gens Dormitory's other property, Amethyst House, which comprises 299 beds, already has a Class 2 license.Shares of the manpower services company closed over 7% on Tuesday.

SGX:XVG

Oil & Energy53d ago

Saudi Aramco CEO Warns Strait Disruptions to Delay Oil Market Normalization Until 2027

Saudi Aramco CEO Amin Nasser warned that the ongoing disruptions to oil flows through the Strait of Hormuz could delay the market's return to normalcy until 2027.During the company's Q1 earnings call on Monday, Nasser said that even if these disruptions were to last a few more weeks, "it is going to take a much longer time for the oil market to rebalance and stabilize," dragging all the way into the following year, if the situation stays the same until mid-June.The market is currently losing as much as 100 million barrels of oil each week, as traffic through the strategically crucial strait has dropped to low single digits, Nasser said, according to the transcript of the call available on FactSet.A major reason normalization would take so long, he said, was the massive disruption to global tanker logistics, which he said was now "messed up" with "over 600 vessels" stranded inside the Hormuz and another "240 waiting outside."As a result, he said global energy and commodity supply chains would need "several months to return to their pre-conflict traffic," which he said was based on his optimistic view of things.

Japan53d ago

US Equity Futures Decline Pre-Bell as Investors Brace for Inflation Print While Iran Stalemate Continues

Asia53d ago

Market Chatter: Taiwan's CPC Readies to Get Crude Oil, Gas Supplies for Q4 Amid Middle East Tensions

CPC Corp, Taiwan is gearing up to secure crude oil and natural gas supplies for the fourth quarter, as tensions in the Middle East continue, Taipei Times reported Tuesday, citing Minister of Economic Affairs Kung Ming-hsin.Taiwan's supply position remains comfortable, with crude oil reserves covering around 140 to 150 days and natural gas stocks about 12 days, slightly above the mandated safety level, Kung reportedly said in a Legislative Yuan's Economics Committee meeting.Most near-term procurement has already been locked in, with planning now shifting to later in the year, the report quoted Kung as saying.Middle East shipping disruptions have cut export flows but Taiwan has been largely protected by its diversified supply sources, especially imports from the U.S., CPC Chairman Fang Jeng-zen reportedly told the committee.The government is also supporting CPC with loans, subsidies, and planned capital injections to help offset rising fuel costs, the report said, citing the economic affairs minister.

Taiwan Weighted

Asia53d ago

Herald Forecasts Rise in Full-Year Profit

Herald (HKG:0114) expects an attributable profit of between HK$45 million and HK$55 million for the year ended March 31, up from HK$32.9 million a year prior, according to a Tuesday bourse filing.The toy manufacturer attributed the forecast mainly to a one-off post-tax gain from the disposal of two land parcels in Shanghai.

HKG:0114

US Markets53d ago

Japan's Leading Index of Business Conditions Gains in March

Despite higher oil bills and Persian Gulf strife, Japan's leading index of business conditions rose to 114.5 in March from 113.2 in February, striking the highest level since April 2022, reported the Cabinet Office on Tuesday.The leading index attempts to gauge the business outlook for several months ahead, using indicators such as job offers, consumer sentiment, commodity prices, equities prices, small business sentiment, and machinery orders, among other signals.In recent months, Japan's economy has been showing modest growth, according to the Bank of Japan and other observers.For example, Japan's composite purchasing managers index (PMI) output index, a combination of the nation's manufacturing and services sectors, logged 52.2 in April, down from 53.0 in March, but still striking above the 50 mark that separates growth from contraction, reported S&P Global.Japan's gross domestic product (GDP) is expected to expand by a moderate 0.5% in fiscal 2026 started April 1, the Bank of Japan forecast late last month.Separately, Japan's coincident index of business conditions for March rose to 116.5, inching up from 116.2 in February, added the Cabinet Office.

Nikkei 225

Asia53d ago

Sumitomo Electric Industries' Profit Soars 91% in Fiscal Year 2025

Sumitomo Electric Industries' (TYO:5802) profit attributable to owners of the parent surged 91% to 369.5 billion yen for the fiscal year 2025 from 193.8 billion yen a year earlier.The fiber optic cable manufacturer's earnings per share increased to 473.78 yen from 248.47 yen a year ago, according to a Tokyo bourse filing on Tuesday.Net sales jumped 9.2% to 5.110 trillion yen for the year ended March 31 from nearly 4.68 trillion yen in the prior year.In a separate disclosure, Sumitomo Electric Industries raised its final dividend to 104 yen per share, from 68 yen per share, payable from June 29.For the fiscal year 2026, the company expects attributable profit of 320 billion yen, basic EPS of 102.57 yen, and net sales of 5.3 trillion yen.Sumitomo Electric plans to pay interim and year-end dividends of 19 yen and 20 yen per share, respectively, for the year.

TYO:5802

Asia53d ago

Hong Fok Buys Back More Shares

Hong Fok (SGX:H30) bought back 85,000 shares in the open market on Tuesday for around SG$83,869, according to a same-day after-market filing with the Singapore Exchange.To date, the property investment company has bought back 1.8 million shares under the current buyback program.

SGX:H30

Sectors53d ago

Crude Oil Prices Climb as Supply Concerns Escalate Amid Lack of Peace Deal

Crude oil prices saw gains on Tuesday amid dissipating hopes that an agreement between the U.S. and Iran to end the war will be reached.Brent crude at last look rose 2.9% to US$107.21/barrel and West Texas Intermediate crude climbed 3.3% to $101.32/barrel. Disagreements persist between the two countries over demands that include the cessation of hostilities, the removal of the U.S. naval blockade, the resumption of Iranian oil sales and compensation for war damage, Reuters said in a Tuesday report."Optimism regarding an imminent (peace) deal seems to be fading again and if we don't see a deal by the end of May, then upside risks for oil prices are definitely on the table," Reuters quoted DBS Bank energy sector team lead Suvro Sarkar as saying.The continued near-closure of the Strait of Hormuz has led to curtailed exports, with a Reuters survey showing that output from the Organization of the Petroleum Exporting Countries fell to its lowest level in over two decades in April, the report said.

$CLX1$LCOX1$USO

Equities53d ago

Eni Launches $3 Billion Bond Offering

Eni (E) has successfully placed $3 billion of new fixed-rate bonds in two tranches with 10-year and 30-year maturities, the company said late Monday.The offering includes $1.5 billion of 5.250% notes due May 2036, priced at 99.172%, and $1.5 billion of 6.000% notes due May 2056, priced at 98.105%, Eni said.The company said the offering attracted about $15 billion in demand from about 240 institutional investors for each tranche.Proceeds from the offering are expected to be used to fund ordinary financing needs.

Asia53d ago

Singapore Shares Edge Higher Against Regional Slump Amid Renewed Middle East Tensions

Singapore shares closed marginally in positive territory Tuesday, proving resilient even as regional markets retreated on news that the U.S.-Iran ceasefire is nearing collapse.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,915.15 and 4,953.04 throughout the day. It ended the session at 4,946.00, up 3.23 points or nearly 0.1% compared to Monday's close.On the corporate front, OxPay Financial (SGX:TVV) surged nearly 13% at the close as it increased investment in its subsidiary, Oxygen7, through the subscription of 349,000 shares at $1 per share.Medi Lifestyle (SGX:Z4D) plunged nearly 8% at the close as it narrowed its attributable loss to owners by 21% in the first quarter of the year to 699,000 ringgit from 881,000 ringgit a year earlier.Meanwhile, shares of SIA Engineering (SGX:S59) were up over 3% at the close as the company's profit attributable to owners rose to SG$85.6 million in the fiscal second half ended March 31 from SG$70.8 million a year earlier.

^STISGX:S59SGX:TVVSGX:Z4D

Asia53d ago

United Drilling Tools Wins Order Worth INR104 Million for Casing Pipes; Shares Jump 7%

United Drilling Tools (NSE:UNIDT, BOM:522014) received an order worth 103.6 million Indian rupees from Oil and Natural Gas Corp. (NSE:ONGC, BOM:500312), according to an Indian bourse filing on Monday.Shares of United Drilling Tools jumped nearly 7% in Tuesday's trade.The order is for large OD casing pipes with multi-start connectors, scheduled to be executed within six months, the filing said.

BOM:522014NSE:UNIDT

Equities53d ago

Market Chatter: Shell Looks to Divest French Petrol Stations

Shell (SHEL.L, SHELL.AS) plans to sell its petrol stations in France, local financial newspaper Les Echos reported Monday, citing documents shared by the company with employees and suppliers.The sale of the London-listed energy giant's 60 stations, which are operated by other companies, could take place in 2027, according to the report.Shell 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.)

$SHEL.L$SHELL.AS

Asia53d ago

Shenzhen Changfang Incurs 15 Million Yuan in New Debts

Shenzhen Changfang (SHE:300301) incurred 15 million yuan in new overdue debts due to liquidity shortages.This brought total overdue obligations to 191.5 million yuan, equivalent to 209.5% of its audited 2025 net assets.The new debts, owed to Jiangxi Chenghong Technology, matured on May 5 and May 10.

SHE:300301

Asia53d ago

Winding-Up Petition Against MTT Group Unit Dismissed

MTT Group (HKG:2350) said a winding-up petition against its Tritech Distribution unit was dismissed following a sealed order filed with the Hong Kong High Court, according to a Tuesday bourse filing.The parties had reached a settlement related to the petition, which was filed over the alleged non-repayment of $45 million in outstanding invoices from Conversant Solution, in March.

HKG:2350

Equities53d ago

DHL Group Unit, Dubai's SAF One Enter Supply Deal for Unblended Sustainable Aviation Fuel

Deutsche Post's (DHL.F), d/b/a DHL Group's, subsidiary DHL Express signed an offtake agreement with Dubai-based SAF One for unblended (neat) sustainable aviation fuel, or SAF.The German logistics company's unit will receive 25,000 metric tons of the fuel annually over 10 years, from the start of production at SAF One's flagship plant in Bahrain, which is expected in 2028.The deal supports DHL Group's target of reaching 30% sustainable aviation fuel usage by 2030.

^DFMGI$DHL.F

International53d ago

Eurozone Economic Sentiment Climbs in May, ZEW Says

The euro area's economic sentiment index rose to -9.1 points in May from -20.4 points in April, research institute ZEW said Tuesday.The consensus estimate for the month was -21.6 points, according to Investing.com.Meanwhile, the current situation indicator increased by 1.6 points to -41.4 points.

^SXXP

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