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Insilico Medicine's Pleural Mesothelioma Drug Receives US FDA Fast Track Designation; Shares Down 4%

Insilico Medicine (HKG:3696) said ISM6331 received fast-track designation from the U.S. Food and Drug Administration for the treatment of adult patients with unresectable malignant pleural mesothelioma, according to a Wednesday filing with the Hong Kong Stock Exchange.The company said the designation covers adult patients with unresectable malignant pleural mesothelioma.Shares of the biopharmaceutical company were down 4% in recent trade.

HKG:3696

Asia20d ago

GuoCheng Mining Eyes Up to 600 Million Yuan Share Repurchase; Shares Up 5%

GuoCheng Mining (SHE:000688) plans to repurchase between 300 million yuan and 600 million yuan of shares for up to 12 months, according to a Wednesday disclosure to the Shenzhen Stock Exchange.The mining company plans to repurchase between 6.7 million and 13.3 million shares at a maximum price of 45 yuan per share, representing 0.56% to 1.13% of its total share capital.The shares will be used for an employee stock ownership plan and an equity incentive plan, the company said. GuoCheng Mining may cancel the shares if they are not used for those purposes within 36 months.Shares rose 5% during afternoon trading on Wednesday.

SHE:000688

Asia20d ago

Market Chatter: Hillhouse-Backed Elevate Campuses Eyes $267 Million India IPO

Hillhouse Investment Management-backed Elevate Campuses is targeting a $267 million initial public offering in India as early as August, Bloomberg News reported Tuesday, citing people familiar with the matter.The student housing operator has started investor roadshows ahead of a planned share sale in the second half of August and is seeking a valuation of as much as $1 billion, the report said.Elevate Campuses did not immediately respond to' request for comment.(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.)

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Equities20d ago

Eni Reports Higher H1 Net Profit, Revenue

Eni (ENI.MI) said Wednesday its net profit and total revenue for the first half surged year over year.Net profit attributable to shareholders for the six months ended June 30 was 4.39 billion euros, compared with 1.72 billion euros a year earlier. EPS moved to 1.42 euros from 0.52 euros.The Italian oil and gas company's total revenue was 42.73 billion euros, compared with 36.40 billion euros a year ago.For the full year, the company raised its underlying oil and gas production growth outlook to 5% from the previously provided target range of 3% to 4%.It also maintained its plans to pay a dividend of 1.1 euros per share in 2026, which is 5% higher than the prior-year dividend.

$ENI.MI

Asia20d ago

HD Korea Shipbuilding's Q2 Net Income Rises 112%; Sales Up 12%

HD Korea Shipbuilding & Offshore Engineering (KRX:009540) posted a 112% year-over-year rise in net income to 413.60 billion won for the second quarter ended June 30 from 195.50 billion won.Sales jumped 11.9% to 2.371 trillion won from 2.119 trillion won, according to a Wednesday filing with the Korea Exchange.The company declared a quarterly cash dividend of 6,090 won per common share, with a total dividend amount of 639.04 billion won.The dividend record date is August 13, and the scheduled payout is on August 31.

KRX:009540

Asia20d ago

HD Hyundai Heavy Industries Reports 290% Increase in Q2 Attributable Profit

HD Hyundai Heavy Industries (KRX:329180) reported a 290% year-over-year increase in net income attributable to owners of the parent to 822.1 billion won from 210.9 billion won for the second quarter, according to a Wednesday filing with the Korea Exchange.Sales rose 52.7% to 6.332 trillion won from 4.147 trillion won for the three months ended June 30.The shipbuilder declared a cash dividend of 6,090 won per share, payable on Aug. 31 to shareholders of record on Aug. 13.Shares of the company fell 2% in recent trade.

KRX:329180

International20d ago

German Annual Import Prices Up 6.1% in June

Germany's import prices gained 6.1% year over year in June, after a 6.8% increase in the previous month, the country's Federal Statistical Office said Wednesday.The consensus estimate for the month was a 6% rise.On a monthly basis, German import prices were 0.7% lower, matching expectations.

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Equities20d ago

Adnoc Distribution Rolls Out New Retail Media Network in UAE

Abu Dhabi National Oil Co. for Distribution (ADX:ADNOCDIST), d/b/a Adnoc Distribution, launched a retail media network in the United Arab Emirates to bring brands in contact with customers from its integrated mobility, convenience, and digital community.Dubbed Engage by ADNOC, the network will use insights from over 2.7 million Adnoc Rewards members to help brands execute full-funnel marketing campaigns, according to a Wednesday release.The Abu Dhabi-listed fuel distributor anticipates over $25 million in cumulative gross profit during the platform's first five years.

ADX:ADNOCDIST

Asia20d ago

Bank of Suzhou Gets Chinese Central Bank's Nod to Issue Bonds

Bank of Suzhou (SHE:002966) obtained approval from the Chinese central bank to issue financial bonds domestically and internationally, according to a Shenzhen bourse filing on Wednesday.The approval is valid until June 30, 2027.By the time of the approval's expiry, the outstanding balance of newly issued bonds will not exceed 7 billion yuan and the total outstanding balance of ordinary bonds will not be more than 22 billion yuan.The lender's shares rose 3% during the afternoon trade.

SHE:002966

Asia20d ago

Shanxi Coking Coal Energy Controlling Shareholder Convertible Bonds Redeemed, Delisted; Shares Rise 4%

Shanxi Coking Coal Energy (SHE:000983) controlling shareholder Shanxi Coking Coal Group completed the payment of principal and interest on its 2.5-billion-yuan, three-year convertible bonds on July 27.The bonds have since been delisted, according to a Wednesday disclosure to the Shenzhen Stock Exchange.Shares rose 4% during afternoon trading on Wednesday.

SHE:000983

Asia20d ago

Cosmos Technology International Arm Clinches Order Worth MYR4.8 Million

Cosmos Instruments, a wholly-owned subsidiary of Cosmos Technology International Berhad (KLSE:COSMOS), has secured a contract worth 4.77 million Malaysian ringgit from Pengurusan Air Selangor, according to a Tuesday filing to Bursa Malaysia.The company's shares were down nearly 2% in Wednesday's trade.The contract is for the replacement of mechanical water meters with electromagnetic meters to be completed in 15 months ending October 2027.The order is expected to contribute positively towards the group's future earnings and net assets for the financial year ending April 30, 2027, and throughout the duration of the contract.

KLSE:COSMOS

Asia20d ago

Canyon Resources Recommends Shareholders Take No Action on A2MP Investments' Proposal for Now; Shares Hit Multi-Year Low

Canyon Resources (ASX:CAY) said it is evaluating a response to an off-market takeover proposal from A2MP Investments FZCO and advised shareholders to take no action on the offer for now, according to a Wednesday filing with the Australian bourse.A2MP Investments lodged a takeover bid for all ordinary shares in Canyon that it doesn't already own at AU$0.05 per share in cash. A2MP is the largest shareholder in Canyon, holding a roughly 55.6% stake in the company.Canyon Resources shares fell 31% in recent Wednesday trade to hit their lowest point since October 2023.

ASX:CAY

Asia20d ago

Powertech Technology Clarifies Report Forecasting 2026 Revenue; Shares Down 7%

Powertech Technology (TPE:6239) clarified that a media report suggesting its full-year revenue could surpass the record NT$83.9 billion achieved in 2022 is based on speculation, according to a Wednesday Taiwan Exchange filing.The clarification followed a report in Taiwan's Commercial Times citing Chairman D.K. Tsai as saying at an investor conference on Tuesday that full-year revenue has the potential to exceed the 2022 record.Powertech said it does not provide financial forecasts and that investors should rely on business and financial information disclosed through Taiwan's Market Observation Post System (MOPS).Shares of the semiconductor packaging and testing services provider were down 7% in recent trade.

TPE:6239

Equities20d ago

Sabic's H1 Net Loss Narrows; Revenue Down

Saudi Basic Industries (SASE:2010), d/b/a Sabic, said Wednesday its net loss for the first half narrowed, while revenue fell year over year.Net loss attributable to shareholders of the issuer for the six months ended June 30 was 820 million Saudi riyals, compared with 5.28 billion riyals a year ago. Loss per share moved to 0.27 riyal from 1.76 riyals.The Saudi Arabia-listed petrochemicals manufacturer's revenue was 50.96 billion riyals, compared with 59.49 billion riyals earlier.

SASE:2010

Asia20d ago

Favelle Favco US Unit Hiy with Lawsuit Over 2023 New York Crane Incident

Favelle Favco (KLSE:FAVCO) U.S. unit, Favelle Favco Cranes (USA), is among 14 defendants hit with a lawsuit seeking $52.5 million in damages over a crane incident in New York in 2023.The company said the action was filed in the Supreme Court of the State of New York by Employers Insurance Company of Wausau. The claim relates to losses allegedly arising from a crane incident that occurred on July 26, 2023.Favelle Favco said its subsidiary's involvement was limited to supplying the crane and that neither the parent company nor the subsidiary owned, operated or maintained the crane at the time of the incident.The company has notified its insurer and said it does not currently expect the proceedings to have a material financial or operational impact on the group.

KLSE:FAVCO

International20d ago

Australia's Downside Inflation Surprise Removes Case for Rate Hike in August, Westpac Says

The Reserve Bank of Australia (RBA) is expected to deliver a hawkish interest rate hold at its August monetary policy meeting as inflation has been more benign than the central bank's forecast, Westpac said in a Wednesday report.Australia's consumer price index (CPI) rose 3.8% in the 12 months to June, moderating from a 4% increase in the previous month, with market services inflation and the all-important housing-related components both coming in below expectations."We no longer expect rate hikes by the RBA this year," Westpac said. "The substantial pass-through of higher energy costs seen in the early phase of the Middle East conflict has not been followed up in recent months."Westpac still expects the RBA to debate the case for a rate increase in August, noting that a risk of a hike in November still exists if inflation accelerates again in the third quarter, although this is not part of the bank's base case scenario.Additionally, the latest inflation print does not alter Westpac's forecast August 2027 timing for the central bank to start unwinding rate hikes implemented earlier this year, it said.

ASX 200

Asia20d ago

CTCI Says Not Liable to Pay Damages for Hsinta Power Project's Unit 1 Shutdown; Shares Sink 8%

CTCI Corporation (TPE:9933) has countered the claims that it is liable to pay damages for the fire incident that occurred at Unit 2 of the Hsinta Power Plant Renewal Project last year, according to a Tuesday filing to the Taiwan stock exchange.The company's shares were down nearly 8% in Wednesday's trade.The company, along with GE Vernova International, was a contractor of Taiwan Power Company's Hsinta power project, and has received claims for liquidated damages of $540,716.33 and power generation losses of NT$2.80 billion for Unit 1.CTCI and GE Vernova said the shutdown of Unit 1 was not affected by the fire incident but ordered by Kaohsiung City Government, and is therefore a force majeure event that is not attributable to the contractor.Also, the contract states that the contractor is not liable to Taiwan Power Company for any consequential damages, including power generation losses.Therefore, to challenge the claims, CTCI and GE Vernova will engage lawyers to develop legal countermeasures.

TPE:9933

Asia20d ago

CIMC to Raise Stake in CIMC Tianda to 83.73%; Shares Up 5%

China International Marine Containers (SHE:000039, HKG:2039) or CIMC, will acquire Expedition Holding's 18.07% stake in airport and fire equipment subsidiary CIMC Tianda for about HK$784.0 million, according to a Wednesday filing with the Shenzhen bourse.The acquisition will increase the company's ownership interest in CIMC Tianda to 83.73% from 65.66%.The move is subject to board approval.Shares of the shipping equipment manufacturer were up nearly 5% in recent trade.

HKG:2039SHE:000039

Asia20d ago

Zhejiang Hailiang's Controlling Shareholder Plans to Raise Company Stake by Up to 1 Billion Yuan; Shares Up 6%

Zhejiang Hailiang's (SHE:002203) controlling shareholder, Hailiang Group, plans to raise its shareholding in the company by between 600 million yuan and 1 billion yuan, according to a Shenzhen bourse filing on Wednesday.The stake increase will be implemented within six months through centralized bidding or block trades, or both.The Chinese copper product manufacturer's shares rose 6% during the afternoon trade.

SHE:002203

Asia20d ago

NCLAT Waives Shareholder, Creditor Meetings for Info Edge Merger With Four Subsidiaries

Info Edge (NSE:NAUKRI, BOM:532777) said the National Company Law Appellate Tribunal (NCLAT) has waived the requirement to hold shareholder and creditor meetings for its proposed merger with four wholly owned subsidiaries.The appellate tribunal ruled that the meetings were unnecessary because the scheme does not involve the issuance of new shares or affect the rights of shareholders or creditors, according to the NCLAT filed with the Indian bourses on Tuesday.The decision overturns an April order by the National Company Law Tribunal (NCLT), New Delhi Bench, and clears the way for the merger of Allcheckdeals India, Axilly Labs, Diphda Internet Services and Zwayam Digital into Info Edge.Shares of the company rose nearly 2% in recent trade.

BOM:532777NSE:NAUKRI

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