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Saudi Arabia's Annual Employee Compensation Up 9.8% in February

Saudi Arabia's employee compensation index climbed 9.8% on an annual basis in February, compared with a 9.4% rise in the previous month.The monthly growth stood at 0.7%, according to preliminary data from the General Authority for Statistics released Monday.

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International60d ago

German Annual Producer Prices Down 0.2% in March

The producer prices of industrial products in Germany edged down 0.2% year over year in March, following a 3.3% decline in the previous month, the country's Federal Statistical Office said Monday.On a monthly basis, producer prices were 2.5% higher, against the expected 1.4% growth. The latest reading reflects the largest monthly increase since August 2022.

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Asia60d ago

Yahua Industrial's Unit to Buy 51% Stake in Civil Explosive Maker for 362 Million Yuan

Sichuan Yahua Industrial's (SHE:002497) unit, Sichuan Yahua Civil Explosives Group, plans to acquire 51% of Weifang Longhai Safety Technology for a consideration of up to 362.1 million yuan, according to a Shenzhen bourse filing on Saturday.The civil explosive maker's shares slipped less than 1% during Monday's afternoon trade.Longhai Safety Tech produces and sells civil explosives, as well as security equipment.The stake will be bought from Weifang Longhai Civil Explosives.

SHE:002497

International60d ago

Saudi Arabia's Annual Real Estate Prices Fall 1.6% in Q1

Saudi Arabia's real estate prices declined 1.6% year over year in the first quarter, after a 0.7% fall in the previous three months, the country's General Authority for Statistics said Monday.The deflation was mainly attributed to a decrease in residential sector prices.On a quarterly basis, the real estate price index dropped 0.2% in the three months to March, against a 0.4% decrease earlier.

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Asia60d ago

EcoGraf Enters Non-binding Memorandum of Understanding With Mitsubishi Chemical

EcoGraf (ASX:EGR) executed a non-binding memorandum of understanding with Mitsubishi Chemical relating to the supply, qualification, and potential long-term commercialization of natural flake graphite, unpurified spherical graphite, and purified spherical graphite for Mitsubishi's battery anode material operations, according to a Monday Australian bourse filing.Mitsubishi will consider a long-term product sales arrangement for 10,000 tonnes per year of unpurified and/or purified spherical graphite, or around 16,500 tonnes per year of -100 mesh natural flake graphite, subject to ongoing technical evaluation outcomes.

ASX:EGR

International60d ago

Saudi Arabia Logs 18.8% Decrease in February Issued Building Permits

Issued building permits in Saudi Arabia fell 18.8% annually in February, following a 6.6% drop in the previous month, according to preliminary data from the General Authority for Statistics released Monday.On a monthly basis, the short-term business indicators statistics showed a 14.4% decline in issued building permits.

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Equities60d ago

Saipem Bags EUR700 Million Contract with Eni for Biorefinery Project in Italy

Saipem (SPM.MI) secured a contract worth 700 million euros to provide engineering, procurement, and construction services for a new biorefinery project in Sicily, Italy.The Italian energy company's Eni Industrial Evolution subsidiary is commissioning the Priolo biorefinery project, according to a Monday release. The development will feature a new plant that will produce sustainable bio-jet fuel and hydrotreated vegetable oil diesel.The Italian oilfield services company expects to complete works under the contract by the end of 2028.

$ENI.MI$SPM.MI

Asia60d ago

CapitaLand Ascendas REIT's Preferential Offering Oversubscribed

CapitaLand Ascendas REIT (SGX:A17U) said it had received valid acceptances and excess applications for around 315.4 million preferential offering units at the close on April 15, according to a Friday filing with the Singapore Exchange.Shares of the REIT were down under 1% in Monday trading.The new units are expected to be listed and quoted on April 23.The REIT had launched an equity fund raising exercise to raise gross proceeds of no less than around SG$900 million in March.

SGX:A17U

International60d ago

Saudi Annual Business Operating Revenue Up 5.9% in February

Saudi Arabia's operating revenue index climbed 5.9% year over year in February, after a 3.2% growth in January, according to preliminary data from the General Authority for Statistics released Monday.On a monthly basis, the short-term business indicators statistics report showed that operating revenue was up 0.3%.

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Asia60d ago

Adani Enterprises Forms Three Subsidiaries for Real Estate Activities

Adani Airport City's step-down subsidiary, Adani Enterprises (NSE:ADANIENT, BOM:512599), has incorporated three wholly owned subsidiaries, according to a Saturday filing to the Indian stock exchanges.The company's shares were up over 1% in Monday's trade.The three new companies, Adani Navi Mumbai Airport City, Adani Guwahati Airport City, and Adani Ahmedabad Airport City, will be engaged in real estate activities. They will own or lease properties, construct buildings on an own-account basis or on a fee or contract basis, and operate hotels with integrated restaurants, banquets, and business centers.They have been incorporated with a paid-up share capital of 1 million rupees, each of 100,000 equity shares of 10 rupees apiece.

BOM:512599NSE:ADANIENT

Asia60d ago

GCL System to Dispose of TCL Zhonghuan's Subsidiary for 502 Million Yuan; Shares Up 4%

GCL System Integration Technology (SHE:002506), through Xiamen Yongxin Sunshine Investment Partnership (Limited Partnership), will dispose stake in Zhonghuan Leading Semiconductor Technology for a consideration of 501.5 million yuan, according to a Shenzhen bourse filing on Saturday.The power company's shares jumped less than 4% during Monday's afternoon trade.The stake, which represents 73,384,649 shares, will be sold to Nanjing Yida Huiling Venture Capital Partnership (Limited Partnership).Zhonghuan Leading Semiconductor is a subsidiary of TCL Zhonghuan Renewable Energy Technology (SHE:002129).

Wire60d ago

Coventry Group Reports Higher Fiscal Q3 Sales; Shares Hit All-Time Low

Coventry Group (ASX:CYG) reported fiscal third-quarter sales of AU$88.2 million, up 1.4% from a year earlier, according to a Monday filing with the Australian bourse.The company also reported earnings before interest, taxes, depreciation, and amortization of AU$2.1 million for the quarter, down 11% from a year earlier, per the filing.Coventry Group said the benefits of its ongoing cost-cutting program are becoming "increasingly evident" in financial performance, and it has identified "significant further opportunities" for efficiency savings.The company's shares were down nearly 2% in recent Monday trade, hitting an all-time low.

ASX:CYG

Asia60d ago

Beijing Shougang Q1 Profit Down 47%, Revenue Slips 2%

Beijing Shougang (SHE:000959) posted first-quarter attributable net profit of 174.1 million yuan, down 47% from 329.6 million yuan the previous year.Earnings per share declined to 0.0226 yuan from 0.0425 yuan, according to a filing with the Shenzhen bourse.Operating revenue slipped 5.7% year over year to 25.1 billion yuan from 26.6 billion yuan.Shares of the steel products maker were down 2% in recent trade.

SHE:000959

Asia60d ago

Zip's Fiscal Q3 Showed 'Very Good Control' Over Unit Economics, Jefferies Says

Zip's (ASX:ZIP) fiscal third-quarter results confirmed that the company has "very good control" over unit economics, and softer consumer sentiment could translate into more usage of its services given its non-discretionary customer base, Jefferies said in an April 17 note.The equity research firm said Zip's US bad debts likely peaked at 1.9% of total transaction value in the fiscal third quarter, while its revenue margin recovered to 8.4%, which was "a solid result" given the mix shift toward the US.The company also saw higher engagement in the US, as average spend per customer increased more than 32% year over year and average transactions per customer gained roughly 22%, indicating that repeat usage is gaining traction, according to the note."Groceries and utilities are significant contributors to US growth, and these nondiscretionary spend categories should be less susceptible to macro headwinds," Jefferies said.The equity research firm upgraded its fiscal 2026 cash earnings before taxes, depreciation, and amortization forecast for Zip by 5%, but cut it by 11% for fiscal 2027 due to currency headwinds and a lower revenue margin in Australia and New Zealand.Jefferies maintained a buy rating on the company and lowered its price target to AU$3.80 from AU$4.20.Zip's shares surged almost 9% in recent Monday trade.

ASX:ZIP

Asia60d ago

Beijing Shougang 2025 Profit Up 108%, Revenue Slips 5%

Beijing Shougang (SHE:000959) posted 2025 attributable net profit of 995.6 million yuan, up 108% from 479.4 million yuan the previous year.Earnings per share rose to 0.1284 yuan from 0.0618 yuan, according to a filing with the Shenzhen bourse.Operating revenue slipped 5.1% year over year to 102.9 billion yuan from 108.5billion yuan.Shares of the steel products maker were down 2% in recent trade.

SHE:000959

Asia60d ago

JSW Steel to Form 50:50 JV with POSCO for Odisha Steel Plant

JSW Steel (NSE:JSWSTEEL, BOM:500228) approved a share subscription and joint venture agreement with South Korea's POSCO Group, under which its wholly owned subsidiary Saffron Resources will become a 50:50 joint venture, according to a Friday filing on Indian bourses.Shares of the company rose over 1% in Monday's trade.The proposed joint venture plans to set up a greenfield 6 million tons per annum (MTPA) integrated steel plant in Odisha, India. The plant is expected to be built on about 887 acres of land held by Saffron, the filing said.POSCO Group will subscribe to Saffron shares for about 5.09 billion Indian rupees, subject to adjustments, according to the filing. The deal is expected to complete by Dec. 31.

BOM:500228NSE:JSWSTEEL

Asia60d ago

MN Unit Bags MYR276 Million Data Center Infrastructure Project; Shares Rise 5%

MN (KLSE:MNHLDG) unit MN Utilities Engineering has accepted a purchase order worth 275.9 million ringgit for a data center infrastructure project in Malaysia, according to a Friday's Malaysian bourse filing.Shares gained over 5% in Monday's midday trade.The contract was awarded by a company providing hosting and data processing services. It covers the design, supply, installation, testing, and commissioning of a 275 kilovolt consumer landing station.The project is expected to be completed by June 30, 2027, with final scope to be divided into two phases, the filing said.

KLSE:MNHLDG

Asia60d ago

New Zealand Shares End Slightly Higher Amid Rising Middle East Tensions; Channel Infrastructure Secures Deal to Expand Diesel Storage at Marsden Point

New Zealand shares ended marginally higher on Monday after tensions rose in the Middle East, as the end of the two-week US-Iran ceasefire draws near.The S&P/NZX 50 Index edged up 0.1% or 9.8 points to close at 12,915.45.Tensions rose in the Middle East as the US seized an Iranian cargo ship and Iran's top military command vowed to retaliate. US President Donald Trump said he was sending envoys for talks in Pakistan. However, Iran rejected new peace talks with the US, its state news agency reported.Trump said he would launch new strikes on Iran if it didn't agree to his terms.In domestic news, New Zealand recorded a goods trade surplus of NZ$698 million in March, compared with a deficit of NZ$364.7 million in February, Stats NZ data showed. Goods exports rose 7.3% to NZ$7.94 billion, while imports rose 9.6% to NZ$7.25 billion..New Zealand's first-quarter consumer price index is anticipated to rise by 0.8% quarter on quarter and 2.9% year on year, which is slightly below the Reserve Bank of New Zealand's revised April forecast of 3%, brokerage firm BofA Securities said.In corporate news, Channel Infrastructure (NZE:CHI, ASX:CHI) confirmed an agreement with the New Zealand Government to add 93 million liters of diesel storage at its Marsden Point Energy Precinct, equivalent to around nine more days of national diesel demand.Genesis Energy (NZE:GNE, ASX:GNE) reached a final investment decision on the second stage of its battery energy storage system program at Huntly Power Station on New Zealand's North Island, with an estimated project cost of about NZ$106 million.Lastly, Fletcher Building (NZE:FBU, ASX:FBU) said the planned sale of Fletcher Construction to Vinci Construction has cleared key regulatory approvals in New Zealand, including Overseas Investment Office consent and confirmation from the Commerce Commission that it will not further review the transaction.

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Asia60d ago

Zhenyuan's Deputy General Manager Placed in Detention

Zhejiang Zhenyuan's (SHE:000705) deputy general manager, Wei Min, was placed in detention for investigation, according to a Shenzhen bourse filing on Saturday.The pharmaceutical wholesale company did not disclose the reason for the detention but said its production and operations remain unaffected over the matter.The company's shares fell 2% during the afternoon trade.

SHE:000705

Asia60d ago

Salubris Pharmaceuticals' Subsidiary Presents Positive Effects of JK06 At American Association for Cancer Research

Shenzhen Salubris Pharmaceuticals' (SHE:002294) subsidiary, Salubris Biotherapeutics, presented the positive effects of the JK06 at the American Association for Cancer Research, according to a Shenzhen bourse filing on Monday.The drug was tested for metastatic tumors, including non-small cell lung cancer and breast cancer, in phases 1/2 clinical trials.The drug showed good safety and efficacy in patients during the trials.The pharmaceutical company's shares dropped 4% during the afternoon trade.

SHE:002294

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Asia60d ago

New Zealand Shares End Slightly Higher Amid Rising Middle East Tensions; Channel Infrastructure Secures Deal to Expand Diesel Storage at Marsden Point

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