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Elecon Engineering Company Appoints CFO

Elecon Engineering Company (NSE:ELECON, BOM:505700) has appointed Chintan Shah as the chief financial officer and key managerial personnel of the company with effect from Wednesday, according to a same-day disclosure to the Indian stock exchanges.Shah has over 19 years of experience in finance and accounts.The company's shares were down nearly 1% in recent trade.

BOM:505700NSE:ELECON

Asia62d ago

Genting Singapore Issues Share Awards as Incentives

Genting Singapore (SGX:G13) granted 750,000 share awards at SG$0.7 per share under its performance share scheme, according to a Wednesday filing with the Singapore Exchange.The awards will vest one year from date of grant, subject to satisfaction of service condition.

SGX:G13

Asia62d ago

Adani Energy Solutions Unit Commissions 1,000 MW HVDC Link

Adani Energy Solutions (NSE:ADANIENSOL, BOM:539254) said its subsidiary, Adani Electricity Mumbai Infrastructure, has commissioned a 1,000 MW high-voltage direct current transmission link between Kudus and Aarey, according to an Indian bourse filing by the company.The project includes a 30 km overhead line and a 50 km underground corridor designed for urban deployment, the filing said.The added capacity is expected to strengthen grid reliability and reduce dependence on in-city power generation, the company said in the filing.Shares of the company fell nearly 1% in Wednesday's trade.

BOM:539254NSE:ADANIENSOL

Mining & Metals62d ago

Commerzbank on Overnight News

Commerzbank in its "European Sunrise" note of Wednesday highlighted:Markets: United States Treasuries rise in the New York session, turn sideways in Asia. E-minis firm amid stronger Asian equities. The euro (EUR) weaker at $1.179. Brent hovers around US$95/barrel.Fed: Chicago Federal Reserve Bank President Austan Goolsbee says consumer "just keeps chugging along" so far. Senate Banking panel schedules Kevin Warsh's Federal Reserve chair confirmation hearing on April 21.U.S.: Treasury Secretary Scott Bessent says tariffs could be restored to previous levels by July, will press for secondary sanctions on Iran if needed. The U.S. wants to "de-risk not de-couple" from China, China's global trade surplus "getting excessive," economy remains strong. White House economic adviser Kevin Hassett says the economy will be strong this year, "can definitely produce 4% growth."Iran/Geopolitics: The U.S. military confirms blockade of Iranian ports fully implemented. President Donald Trump tells Fox News he views war as "very close to being over." Pakistan pushes for Iran-U.S. talks this week (NYT). Pentagon likely to trim Iran war funding request.Hormuz: Over 20 commercial ships passed through the Strait of Hormuz in the last 24 hours. The US Navy isn't escorting vessels but communicating when safe to pass.==EUROPE:ECB: President Christine Lagarde thinks it would be a "serious mistake" to say that the European Central Bank can look through the Iran shock today as it is too early to judge, ECB in a good position to respond, won't let inflation expectations become unanchored. Governing Council (GC) member Gabriel Makhlouf says the ECB will take "forceful action" if the shock is persistent. GC member Primoz Dolenc says ECB to raise rates if inflation has a longer-lasting effect.European countries draft postwar plan to free up the Strait of Hormuz without the U.S., likely to include mine-clearing vessels. The plan doesn't include the U.S., would involve Germany. European countries accelerate NATO fallback plan in case of US withdrawal (WSJ).France: Finance ministry still targets 3% deficit in 2029.

$CXY$EUR

US Markets62d ago

ASML Boosts 2026 Total Net Sales Target Amid AI-driven Demand

ASML Holding (ASML.AS) upgraded its full-year 2026 total net sales outlook following a strong first-quarter performance driven by heightened demand for artificial intelligence-related infrastructure.The Dutch semiconductor equipment manufacturer said Wednesday it is targeting total net sales of between 36 billion euros and 40 billion euros, up from the previously guided range of 34 billion euros to 39 billion euros. Meanwhile, the company retained its gross margin guidance of between 51% and 53%.For the second quarter, ASML anticipates total net sales of between 8.4 billion euros and 9 billion euros, with a projected gross margin of 51% to 52%."The semiconductor industry's growth outlook continues to solidify, driven by ongoing AI-related infrastructure investments. Demand for chips is outpacing supply. In response, our customers are accelerating their capacity expansion plans for 2026 and beyond, supported by long-term agreements with their customers," President and Chief Executive Officer Christophe Fouquet said, adding that ASML's order intake continues to be very strong due to rising customer demand.The upgraded outlook comes as ASML reported that US GAAP total net sales for the three months ended March 29, 2026, were 8.77 billion euros, against the 7.74 billion euros in the three months ended March 30, 2025. Net system sales contributed 6.28 billion euros to the total amount, while gross profit as a percentage of net sales stood at 53%, compared with the year-ago 54%.Additionally, net income for the three-month period was 2.76 billion euros, against the 2.36 billion euros previously, and EPS moved to 7.15 euros from 6 euros.In the first quarter, ASML reported that it repurchased 1.1 billion euros worth of shares, marking the start of its 12 billion-euro buyback program scheduled through 2028.By Wednesday midday, the Amsterdam-listed stock declined almost 1%.

$ASML.AS

Asia62d ago

Indian Equities Gain on Wednesday as US-Iran Talks Hopes Lift Sentiment

Indian equity benchmarks moved higher on Wednesday, each gaining over 1.5%, as expectations of renewed talks between the U.S. and Iran lifted sentiment.The BSE Sensex rose 1,263.67 points, or 1.6%, to close at 78,111.24, while the NSE Nifty 50 gained 388.65 points, or also 1.6%, to settle at 24,231.30.Markets reacted to reports indicating that Washington and Tehran could resume discussions shortly. U.S. President Donald Trump reportedly said talks may take place in Pakistan within the next two days. The development followed an inconclusive round of talks over the weekend and helped ease investor concerns.Crude oil prices declined further, with Brent trading near $95 per barrel, supporting market sentiment.Among stocks, Diamond Power Infrastructure rose over 2% after receiving a letter of intent worth 454.7 million rupees from Adani Electricity Mumbai, for cable supply from May 2026 to May 2027.Wipro gained over 3% after saying it will acquire select customer contracts of U.S.-based Alpha Net Consulting and its subsidiaries for up to $70.8 million.

^BSENifty 50BOM:507685BOM:522163NSE:DIACABSNSE:WIPRO

Asia62d ago

Hong Fok Buys Back More Shares

Hong Fok (SGX:H30) bought back 520,000 shares in the open market on Wednesday for around SG$512,213, according to a same-day after-market filing with the Singapore Exchange.To date, the property investment company has bought back over 12.6 million shares.

SGX:H30

Asia62d ago

Sanli Environmental Secures New Contracts Worth SG$14 Million

Sanli Environmental (SGX:1E3) secured new maintenance services projects worth SG$13.7 million, during the first quarter of the year, according to a Wednesday filing with the Singapore Exchange.The projects are for engineering works, system upgrades and maintenance services within the water and environmental infrastructure sector.Shares of the environmental engineering company closed nearly 10% in Wednesday trading.

SGX:1E3

Research62d ago

KeyBanc Downgrades Parsons to Sector Weight From Overweight, Removes $73 Price Target

Parsons (PSN) has an average rating of overweight and mean price target of $76, 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)

$PSN

International62d ago

Middle East Outlook Elevates Asian Stock Markets

Asian stock markets tracked higher Wednesday amid reports that Iran and the US may again meet to negotiate a possible settlement to Middle East hostilities.Hong Kong and Tokyo finished in the green, as did most other regional exchanges. Exchanges in Bangkok remained closed on holiday.In Japan, the Nikkei 225 opened higher and held ground, finishing up 0.4% as the risk-on mood among traders was sustained on the Persian Gulf outlook.The benchmark Nikkei 225 rose 256.85 to 58,134.24, as gaining issues outnumbered losers 130 to 91.Leading the upside was consultancy BayCurrent, up 14% after reporting earnings, while memory-device maker Kioxia declined 7.4%.In Hong Kong, the Hang Seng Index opened higher and closed in the green, up 0.3% on hopes that oil prices may ebb in coming months, if conflicts in the Persian Gulf are resolved.The broad gauge Hang Seng rose 75 to 25,947.32, as gaining issues outnumbered losers 48 to 40. The Hang Seng TECH Index gained 1.2% on the day, while the Mainland Properties Index was steady.Leading the upside was Laopu Gold, rising 6.8%, while New Oriental Education and Technology declined 5.9%.On the mainland, the Shanghai Composite was almost flat, closing at 4,027.21.On the other regional exchanges, the S. Korean KOSPI rose 2.1%; the Taiwan TWSE inclined 1.2%; the Australian ASX 200 declined 0.1%, and the Singapore Straits Times Index rose 0.3%. In late trading in Mumbai, the Sensex was up 1.6%The MSCI All Country Asia Pacific Index rose 0.9% on the day.

Hang SengNikkei 225Shanghai Composite

Asia62d ago

Elecon Engineering's Consolidated Net Profit Plummets in Fiscal Q4

Elecon Engineering Company's (NSE:ELECON, BOM:505700) consolidated net profit plunged to 60 million Indian rupees in the fiscal fourth quarter ended March 31, from 1.46 billion rupees a year ago.Earnings per share contracted to 0.27 rupees from 6.53 rupees a year earlier, the power transmission and material handling equipment manufacturer said in a filing to the Indian stock exchanges on Wednesday.Revenue from operations in fiscal Q4 also fell to 7.46 billion rupees from 7.98 billion rupees a year ago.The company's board of directors has recommended a final dividend of 1.50 rupees per equity share of 1 rupee each for the financial year 2025-26.The company's shares were down nearly 1% inr ecent trade.

BOM:505700NSE:ELECON

Mining & Metals62d ago

Imperial Metals Posts YoY Declines in Copper, Gold Production in Q1

Imperial Metals (III.TO) late on Tuesday reported that first-quarter copper production from the Mount Polley mine was down 51% and gold production was down 28% year over year, citing lower grades, recoveries and throughput.The company produced 4.4 million pounds of copper, down from 8.9 million pounds, and 7,608 ounces of gold, down from 10,621 ounces.Compared to the fourth quarter of 2025, throughput was up 5%, gold production was up 15% and copper production was down 5%.

$III.TO

Asia62d ago

Aspial Lifestyle's Profit Zooms 140% in Q1

Aspial Lifestyle's (SGX:5UF) profit before tax jumped 140% during to first quarter of the year to SG$40 million from SG$17 million a year earlier, according to a Wednesday filing with the Singapore Exchange.Revenue jumped 48% year over year to SG$247 million from SG$167 million, driven by sustained demand for products and services.

SGX:5UF

Mining & Metals62d ago

Ongwe Minerals Announced Listing on the Namibia Securities Exchange, Effective Today; TSXV Will Remain the Primary Listing

$OGW.V

Asia62d ago

Sino Biopharmaceutical Unit Enrolls First Patient in Gastric Cancer Drug Trial

Sino Biopharmaceutical (HKG:1177) said unit LaNova Medicines' phase III registrational clinical trial of tecotabart vedotin completed the enrollment of the first patient, according to a Wednesday Hong Kong bourse filing.The study is testing the drug for the first-line treatment of gastric and gastroesophageal junction adenocarcinoma in combination with a PD-1 monoclonal antibody.

HKG:1177

US Markets62d ago

Broadcom Expands Partnership With Meta for AI Compute Infrastructure

Broadcom (AVGO) shares rose early Wednesday after the chipmaker expanded its partnership with Meta Platforms (META) to support the technology giant's artificial intelligence compute infrastructure.Broadcom will deploy technology for Meta's training and inference accelerator, or MTIA, silicon chips, under the multi-year deal, with plans to extend through 2029, the companies said in a joint statement late Tuesday. The partnership includes an initial commitment of more than one gigawatt of computing capacity.The companies plan to co-design and scale hardware required to bring generative AI features and "personal superintelligence" to Meta-owned social media applications, such as WhatsApp, Instagram, and Threads. Broadcom plans to provide its ethernet networking solutions to help Meta scale its AI systems.Broadcom's stock increased 2.9% in the most recent premarket activity, while Meta edged up 0.2%."We are pleased to expand our strategic collaboration with Meta as they pioneer the next frontier of artificial intelligence," Broadcom Chief Executive Hock Tan said in the statement. "This initial MTIA deployment is just the beginning of a sustained, multi-generation roadmap to serve the trajectory of massive growth over the next few years."Given the scale of the expanded partnership, Tan will step down from Meta's board of directors and serve in an advisory role for the Facebook parent, the statement said."Meta is partnering with Broadcom across chip design, packaging, and networking to build out the massive computing foundation we need to deliver personal superintelligence to billions of people," according to Meta CEO Mark Zuckerberg. "As we roll out more than (1 GW) of our custom silicon to start and then multiple gigawatts over time, this partnership will give us greater performance and efficiency for everything we're building."Last week, Broadcom entered into a long-term deal to produce AI chips for Alphabet's (GOOG, GOOGL) Google and expanded its collaboration with Amazon-backed (AMZN) AI startup Anthropic.

$AVGO$META

Treasury62d ago

Canada To Suspend Fuel Excise Tax Through Summer, BMO Says

The Canadian government on Tuesday announced that it will suspend the excise tax on gasoline/diesel starting next Monday and running through Sept. 7 -- in other words, the entirety of the summer driving season, said Bank of Montreal (BMO).This will shave 10 cents per liter from retail gasoline prices, which have been on a "wild ride," noted the bank.The conflict in Iran lifted global oil prices and, as a consequence, Canadian pump prices by roughly 30%, pointed out BMO.That follows the April 2025 removal of the consumer carbon tax, which cut the price by about 17 cents per liter.While the latter pulled down headline inflation, the favorable year-ago comparison will disappear in April, lifting the rate again, stated the bank.BMO judges that the new government measure will then trim headline inflation by about 0.2 percentage point, leaving annual inflation for 2026 right at 3.0%.This measure will also cost Canada a reported $2.4 billion, but there appears to be ample room to roll it out without compromising budget forecasts for the deficit, according to the bank.

$CXY

Mining & Metals62d ago

Surge Energy Says May 2026 Dividend Will Be $0.043333 Per Share, Unchanged From April

$SGY.TO

Asia62d ago

Hioki E.E's Profit Jumps 41% in Q1

Hioki E.E's (TYO:6866) profit attributable to owners of the parent jumped 41% to 1.65 billion yen in the first quarter from 1.17 billion yen a year earlier.The measuring instrument maker's basic earnings per share increased to 122.56 yen from 86.54 yen a year ago, according to a Tokyo bourse filing on Wednesday.Net sales climbed 16% to 11.4 billion yen for the three months ended March 31 from 9.82 billion yen in the prior-year period.For 2026, the company expects attributable profit of 6 billion yen, basic EPS of 443.25 yen, and net sales of 43 billion yen.Hioki E.E plans to pay interim and final dividends of 100 yen each for the year, unchanged from the previous year.

TYO:6866

Mining & Metals62d ago

Bunker Hill Says "On Track" for June Restart; Provides Corporate Update and Commissioning Progress

$BNKR.V

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Mining & Metals62d ago

Commerzbank on Overnight News

$CXY$EUR