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EU Not Facing Immediate Oil, Gas Supply Risks, But Headwinds to Jet Fuel Availability, Task Force Confirms

The European Commission's Energy Union Task Force Security on Friday confirmed that the region does not face any immediate oil and gas supply risks, although the availability of jet fuel remains a major concern.The Task Force met on Friday to review the energy security situation in the EU in the backdrop of the ongoing Middle East conflict, which has resulted in significant energy supply shocks.The Task Force reaffirmed the conclusion of the member state senior officials and the commission, who met earlier last week. The EU refineries were receiving a stable supply of crude oil and there was no immediate need for additional stock releases at the moment, according to a statement issued by the EC's Directorate-General for Energy."Nevertheless, prolonged disruptions in Middle East oil production and tanker traffic could pose longer-term risks. Jet fuel remains the primary concern, given that EU refineries cover around 70% of the EU's consumption, with the remainder reliant on imports," the statement added.The task force discussed the advantages of having an extended gas storage injection season as a means to prevent last-minute congestion and price spikes. They also appreciated a letter from Commissioner Dan Jorgensen to member countries urging them to use flexibility provisions under the Gas Storage Regulation and consider reaching the 80% storage target earlier in the filling season to provide greater market certainty."Finally, the Task Force welcomed and called for an acceleration of ongoing work to provide clear Commission recommendations on the implementation of EU Methane Regulation, with a focus on security of supply and legal certainty, notably with respect to penalties and compliance solutions, as agreed by Energy Ministers in December 2025," the statement added.The two-week ceasefire in the Iran war has helped stabilize energy prices, but the situation remains "volatile and uncertain" overall, the statement added.

Asia55d ago

Veerhealth Care Secures International Order for Personal Care Products

Veerhealth Care (BOM:511523) has received order worth $160,650 from an undisclosed New York-based entity for supply of personal care products, according to an Indian bourse filing on Saturday.Shares of the company rose 1% in Monday's trade.The order is to be executed within 45 days, the filing said.

$BOM:511523

Asia55d ago

Hengrui Pharmaceuticals Unit Gets Approval for Heart Failure Drug Trial

Jiangsu Hengrui Pharmaceuticals (SHA:600276) subsidiary Chengdu Shengdi Pharmaceutical obtained China's regulatory approval to begin clinical trials for HRS-5765.The drug is used for treating heart failure, according to a filing with the Shanghai bourse.Shares of the pharmaceutical company closed 3% lower Monday.

$SHA:600276

Asia55d ago

Orix to Absorb Tsukuba Lease, Plan Dissolution After Company Split

Orix (TYO:8591) said it will implement an absorption-type company split to transfer the business of subsidiary Tsukuba Lease to itself and Orix Auto, followed by the unit's dissolution and liquidation, according to a Monday filing on the Tokyo Stock Exchange.The split is aimed at improving operational efficiency and optimizing resource allocation within the group as it integrates Tsukuba Lease's operations.Under the plan, Orix and Orix Auto will take over Tsukuba Lease's lease and installment sales businesses, including associated assets, liabilities, and contractual rights, with the effective date scheduled for Aug. 1.The companies will pay consideration based on the book value of Tsukuba Lease's lease receivables and installment receivables as of July 31. Tsukuba Lease will be dissolved and liquidated after the split takes effect, while its business will continue under the successor companies.

$TYO:8591

Asia55d ago

CCReB Advisors Partners with Kokopelli to Expand CRE Services

CCReB Advisors (TYO:276A) said it has entered into a business alliance with Kokopelli (TYO:4167) to expand services for regional financial institutions, according to a Monday filing on the Tokyo Stock Exchange.The partnership will integrate Kokopelli's BM Portal platform with CCReB Advisors' real estate matching system to enhance corporate real estate services and improve access for regional lenders and businesses.The companies aim to accelerate regional expansion of matching services and develop new business opportunities by leveraging their respective networks and technology platforms.

$TYO:276A$TYO:4167

Asia55d ago

Chinese Rare-Earth Companies Finish High on Increases in Q2 Prices

Chinese rare-earth companies saw spikes in their closing prices on Monday following an increase in their second-quarter product prices.Inner Mongolia Baotou Steel Union (SHA:600010) finished 5% higher, while China Northern Rare Earth Group High-Tech (SHA:600111) closed at 1% higher.The companies said their rare earth concentrates were priced at 38,804 yuan per ton, according to separate Saturday filings with the Shanghai bourse.The increases come as Beijing applied retaliatory export curbs following tariffs by U.S. President Donald Trump, according to a separate Bloomberg report Monday.

$^SSEC$^SZSE$SHA:600010

Asia55d ago

Giftee Sees Limited Impact from Middle East Tensions on Operations

Giftee (TYO:4449) said the impact of the current situation in the Middle East on its business and financial results remains limited, according to a Monday filing on the Tokyo Stock Exchange.The company said its e-gift platform operations across Japan, ASEAN markets and the MENA region continue to be driven mainly by domestic demand, with no significant disruption reported.In the Middle East, where its subsidiary operates, giftee said business locations and employees remain safe and operations are continuing as normal.The company said prolonged geopolitical tensions could lead to higher crude oil prices and currency volatility, which may indirectly affect client performance and, in turn, its financial results.

$TYO:4449

Equities55d ago

Bernstein Adjusts Price Target on Chevron to $216 From $194, Maintains Market Perform Rating

Chevron (CVX) has an average rating of overweight and mean price target of $210.08, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$CVX

Equities55d ago

Jefferies Adjusts Price Target on Chevron to $236 From $227, Maintains Buy Rating

$CVX

Equities55d ago

Bernstein Adjusts Price Target on Exxon Mobil to $195 From $159, Maintains Outperform Rating

Exxon Mobil (XOM) has an average rating of overweight and mean price target of $163.12, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$XOM

Asia55d ago

Nara Space Technology Wins KRW2 Billion Government Contract

Nara Space Technology (KOSDAQ:478340) secured a contract for a simulated satellite-ground control system from South Korea's Agency for Defense Development, according to a Monday filing with the Korea Exchange.ADD is a state-run institute dedicated to advancing South Korea's defense technologies.The contract, valued at 1.98 billion won, is valid till Aug. 31, 2028.Shares of Nara Space Technology jumped nearly 7% at market close.

$KOSDAQ:478340

Asia55d ago

Npr-Riken Unit to Acquire Hastings to Expand Piston Ring Business

NPR-Riken (TYO:6209) said it will acquire all shares of Hastings Holding through its U.S. unit, aiming to strengthen its global piston ring business, according to a Monday filing on the Tokyo Stock Exchange.The acquisition will be carried out by Riken Corporation of America, making Hastings Holding a wholly owned subsidiary, the company said. Financial terms were not disclosed.Hastings Holding oversees manufacturing operations in the U.S. and Europe and owns the Hastings brand, which has a strong presence in the global piston ring aftermarket, particularly in North and Central America.NPR-RIKEN said the deal will complement its existing customer base and regional footprint, enhancing competitiveness and profitability through production and sourcing synergies.

$TYO:6209

Research55d ago

HSBC Downgrades NIKE to Hold From Buy, Adjusts Price Target to $48 From $90

NIKE (NKE) has an average rating of overweight and mean price target of $61.18, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$NKE

Asia55d ago

Glp J-Reit Warns Investors of May Expiry for 2023 Distribution Claims

Glp J-Reit (TYO:3281) said the right to claim distributions for its fiscal period ended February 2023 will expire on May 18, according to a Monday filing on the Tokyo Stock Exchange.The trust said distribution claims lapse if unclaimed for three years from the payment start date, in line with its articles of incorporation.It added that distribution rights for the fiscal period ended August 2023 and subsequent periods will also expire after three years from their respective payment dates.

$TYO:3281

Research55d ago

William O'Neil Initiates Coherent at Buy

Coherent (COHR) has an average rating of overweight and mean price target of $285.53, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$COHR

Asia55d ago

Singapore Shares Plummet, Track Regional Losses Following Collapse of US-Iran Peace Talks

Singapore shares sank on Monday, tracking broader regional losses after the US-Iran peace talks in Islamabad ended without a resolution.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,965.48 and 4,984.17 throughout the day. It ended the session at 4,984.17, down 5.24 points or 0.1% compared to Friday's close.Following the breakdown in discussions, the US military said that it will block all maritime traffic entering and exiting Iranian ports, with Tehran terming the US blockade as "illegal".On the corporate fund, shares of Mary Chia (SGX:5OX) slumped over 9% at the close as it received a statutory demand from Fullink Capital in respect of an alleged sum of around SG$902,640.Medtecs International (SGX:546) was down over 2% as the company pulled the plug on its joint venture with Shijiazhuang Hongray, following a strategic review of plans and prevailing market conditions.Meanwhile, CapitaLand Investment (SGX:9CI) closed its CapitaLand Asia Pacific Credit Program II (ACP II), securing $320 million in total equity commitments.

$^STI$SGX:546$SGX:5OX$SGX:9CI

Research55d ago

Jefferies Upgrades Starbucks to Hold From Underperform, Adjusts Price Target to $92 From $86

Starbucks (SBUX) has an average rating of hold and mean price target of $100.16, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$SBUX

Research55d ago

KeyBanc Upgrades T-Mobile US to Overweight From Sector Weight, Price Target is $260

T-Mobile US (TMUS) has an average rating of overweight and mean price target of $266.74, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$TMUS

Research55d ago

Evercore ISI Upgrades PulteGroup to Outperform From In Line, Adjusts PT to $146 From $143

PulteGroup (PHM) has an average rating of overweight and mean price target of $137, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$PHM

Research55d ago

Evercore ISI Upgrades Masco to Outperform From In Line, Price Target is $78

Masco (MAS) has an average rating of overweight and mean price target of $78.17, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$MAS

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Commodities55d ago