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NRW Holdings Unit Contract Awards Strengthen Work-in-Hand Heading into Fiscal Year 2027, Euroz Hartleys Says

NRW Holdings' (ASX:NWH) unit contract awards further strengthen its work-in-hand heading into fiscal year 2027, highlighting its ability to convert opportunities across both its mining and civil infrastructure businesses, according to a Tuesday note by Euroz Hartleys.NRW disclosed two contract awards through its wholly-owned unit Golding, with a combined value of around AU$191 million to AU$195 million.The three-year equipment hire and services agreement with OneSteel Manufacturing at the South Middleback Ranges mine in South Australia utilizes Golding's existing operating presence and fleet, with no material capital investment required, supporting returns while maintaining its long-standing position in the region.Euroz Hartelys continues to expect further contract conversion across NRW's civil tender pipeline, particularly within Western Australia infrastructure, defense, and urban projects.The investment firm maintained its buy recommendation and raised its price target on NRW to AU$8.50 per share from AU$7.20 per share.

ASX:NWH

Asia35d ago

Peel Mining Implements Spectre Metals Demerger

Peel Mining (ASX:PEX) implemented the demerger of Spectre Metals from the firm via a capital reduction and pro rata in-specie distribution of Spectre shares to Peel shareholders, according to a Tuesday Australian bourse filing.The demerger distribution of Spectre shares was in the ratio of one Spectre share for every 4.4591 Peel shares held as of June 24, and was transferred to Peel shareholders or to the demerger sale agent.The scheme of arrangement, in which Aeris Resources (ASX:AIS) will acquire all of Peel shares on issue, is expected to be implemented on Wednesday.

ASX:AISASX:PEX

Asia35d ago

Baijin Life Science Flags Up to HK$43 Million Full-Year Loss

Baijin Life Science (HKG:1466) said it expects to record up to HK$43 million in loss for the fiscal year ended March 31, widening from a loss of HK$100,000 a year earlier, according to a Monday filing with the Hong Kong bourse.The firm attributed the higher loss to a drop in revenue and gross profit, mainly from its jewellery business.The company also saw a rise in the cost of sales from its skincare business.The company's financial results are due June 30.

HKG:1466

Asia35d ago

Umios Corp to Acquire 51% Stake in Malaysia's Pet World International

Umios Corp, formerly Maruha Nichiro (TYO:1333), said its board agreed to acquire a 51% stake in Malaysia-based Pet World International through a newly established holding company, according to a filing on the Tokyo Stock Exchange on Monday.The Tokyo-listed company said the acquisition aims to strengthen its pet food business and accelerate its "glocal" strategy across Asia.

TYO:1333

Asia35d ago

HKEX to Launch Digital Regulatory Communications Platform in Q4

Hong Kong Exchanges and Clearing (HKG:0388), or HKEX, plans to launch its Issuer Access Platform in the fourth quarter, according to a Monday press release.The web-based platform will become the primary channel for listed companies and their advisers to submit regulatory filings and communicate with the exchange.HKEX said advisers will begin onboarding from July, while listed issuers will transition to the platform from October through the second quarter of 2027.After the transition, HKEX will launch a revamped issuer portal that provides investors with timely access to up-to-date company information, including executive details and corporate events.

HKG:0388

Asia35d ago

ASE Technology Unit Buys Operating Facilities for NT$331 Million; Shares Rally 9%

ASE Technology (TPE:3711) unit Advanced Semiconductor Engineering agreed to acquire a batch of operating facilities for NT$331.3 million, according to a Monday Taiwan Exchange filing.Shares rose 9% in Tuesday's late morning trade.The facilities will be purchased from Marketech International and will be used for production and operations.

TPE:3711

Asia35d ago

Standard Chartered Bank (Singapore) Files for Singapore Listing of GBP500 Million Bonds

Standard Chartered Bank (Singapore), a unit of Standard Chartered (HKG:2888), filed for the listing of 500 million pounds worth of floating-rate covered bonds due 2029 on the Singapore bourse, according to a filing with the Singapore Exchange on Tuesday.The bonds will be listed and quoted on the Bonds Market on July 1, the bank said.

^STIHKG:2888

Asia35d ago

Westpac NZ Renews 11-Year Loyalty Partnership With Air New Zealand

Westpac Banking's (ASX:WBC, NZE:WBC) Westpac NZ renewed its 11-year loyalty partnership with Air New Zealand (ASX:AIZ, NZE:AIR), allowing the bank's customers to continue to earn points through the airline's Koru program, according to a Tuesday statement from the bank.The lender had researched into ways it can help them customers more value out of their card spending, especially at a time where costs are high for many, said Simon Macdonald, Westpac NZ head of everyday banking products. Additional "rewards innovations" was on the way.

ASX:AIZASX:WBCNZE:AIRNZE:WBC

Asia35d ago

Transcom Clarifies Media Report on Double-Digit Revenue Growth; Shares Rally 6%

Transcom (TPE:5222) clarified a media report by Commercial Times that said the company expects double-digit revenue growth, according to a Monday Taiwan Exchange filing.Shares jumped about 6% in Tuesday's midday trade.The company said the projections cited in the media report should not be regarded as the company's guidance, adding that its actual revenue and financial performance will be disclosed through its monthly revenue reports, financial statements and material announcements filed on Taiwan's Market Observation Post System (MOPS).

TPE:5222

Asia35d ago

Culturecom Flags Fiscal Losses

Culturecom (HKG:0343) said it expects HK$45 million to HK$55 million in net loss for the fiscal year ended March 31, widening from a loss of HK$28.4 million a year earlier, according to a Monday filing with the Hong Kong bourse.The firm attributed the higher loss to multiple impairments recorded during the fiscal period.The firm's financial results are due by the end of June.

HKG:0343

US Markets35d ago

Japan's Industrial Output Contracts For First Time in Six Months in May

Japan's industrial production unexpectedly fell 1.7% year over year in May, according to preliminary data released by the Ministry of Economy, Trade and Industry on Tuesday.The reading missed economists' expectations for a 2.2% increase, according to Trading Economics, and followed a 2.0% rise in April.The annual decline was driven mainly by lower output of general-purpose and business-oriented machinery, electrical machinery, and information and communication electronics equipment.On a month-over-month basis, industrial production rose 0.5% in May, matching April's pace but falling short of the 0.6% increase expected by economists, according to Investing.com.The data will be among the indicators the Bank of Japan will monitor as it considers the timing of future interest-rate hikes.The BOJ raised its policy rate by 25 basis points to 1.0% earlier this month, the highest level since 1995, citing growing inflation risks from higher energy costs and signaling that further policy tightening remains under consideration.Separately, Prime Minister Sanae Takaichi said earlier this month that Japan has secured stable oil supplies through the end of March 2028 despite the conflict with Iran.The plan relies on a combination of alternative crude imports and stockpile releases, extending the country's previous supply outlook by about one year."In July, we are expecting to secure from alternate sources about 100% of the average monthly amount," Takaichi said at a cabinet meeting."Thanks to the efforts of all of those involved, it looks like we'll be able to fully source all of our crude oil from areas outside of the Strait of Hormuz, despite having relied on the strait for over 90% of our oil previously," she added.The industrial output data also comes as the yen weakened to 162.41 per U.S. dollar on Tuesday, its lowest level since 1986, fueling speculation that Japanese authorities could intervene in the currency market.Finance Minister Satsuki Katayama reiterated that officials stood ready to respond appropriately at any time, while stopping short of issuing stronger warnings about intervention.

Nikkei 225

Asia35d ago

Dingyi Group Flags Upto HK$424 Million Loss For Fiscal Year

Dingyi Group Investment (HKG:0508) said it expects HK$424.3 million in net loss for the fiscal year ended March 31, widening from a loss of HK$138.2 million a year earlier, according to a Monday filing with the Hong Kong bourse.The firm expects higher losses despite an increase in revenue to HK$331.1 million from HK$279.7 million in the previous fiscal year.The firm attributed the higher loss to a reduction in gross profit margin and write-down of properties under development.

HKG:0508

International35d ago

Eu, China Set October Dedline to Iron Out Trade Differences

The European Union and China plan to work through their trade differences after leaders from both sides set an October deadline to reset ties.EU trade chief Maros Sefcovic said representatives from both sides will address issues including the matter of subsidized Chinese goods flooding the bloc as well as export controls that have squeezed Europe's access to essential supplies from China, Bloomberg reported Tuesday.Meanwhile, China's Ministry of Commerce said it had authorized officials to maintain communications with the EU on balance of trade, export control, intellectual property rights, and World Trade Organization reform.

Shanghai Composite^SZSE

US Markets35d ago

South Korea Enlists Samsung, SK Hynix, Naver in Multitrillion-Won AI, Chip Investment Plan

South Korea has announced plans to build semiconductor facilities and artificial intelligence (AI) data centers, enlisting chipmaker SK Hynix (KRX:000660), Samsung Electronics (KRX:005930) and internet firm Naver (KRX:035420).As part of the national strategy, a 550 trillion won project will be launched in cooperation with the government, SK, conglomerate GS Group and Naver to build an initial 8.4 gigawatt AI data center capacity by 2029.The government plans to expand this framework to 15GW by 2035 as part of its Phase 2 project with SK.SK Group announced its own 1,100 trillion won investment to establish a semiconductor production belt linking the cities of Yongin and Cheongju with the country's southwestern region, while its broader AI infrastructure push is projected to drive an additional 1,000 trillion won in investment.These initiatives align with SK's ongoing project in Ulsan, where it is building an AI data center in partnership with Amazon Web Services (AWS) that is slated to begin operations in 2027. Another next-generation AI data center is also planned in collaboration with Nvidia.Meanwhile, Samsung plans to invest 2,655 trillion won to develop advanced semiconductor clusters. These will be located at its Pyeongtaek Campus and the Yongin National Industrial Complex, as well as across the Honam, Chungcheong, and Yeongnam regions.Within the Honam region, Gwangju is being considered as a prime candidate for one of Samsung's major semiconductor hubs outside of the Seoul metropolitan area as the city offers attractive incentives.Samsung also plans to build a digital twin-based innovation hub factory for smart home appliances in Gwangju. Additionally, the company will invest 56 trillion won to build high-bandwidth memory fabs in Cheonan and Onyang.The plans are part of the government's goal for South Korea to become a global leader in physical AI by 2030. The government seeks to establish a comprehensive data management system, considering the next three years as a "golden time" to determine the trajectory of the country in the physical AI industry.

^KOSDAQKOSPIKRX:000660KRX:005930KRX:035420

Asia35d ago

Benz Mining Drilling Results Appear to Link Deposits at Western Australia Gold Project, Euroz Hartleys Says

Benz Mining's (ASX:BNZ) reported shallower intercepts discovered between zone 126 and zone 102 at the Hurricane camp, part of the Glenburgh gold project in Western Australia, may have linked the deposits and potentially expanded the camp materially, according to a Tuesday note by Euroz Hartleys.The results were up to 70 meters at 2.9 grams per tonne grade of gold from 214 meters, including 37 meters at 5.2 g/t grade of gold.The two meters at 6.4 g/t grade of gold result was 400 meters step out down dip at zone 126, showing that gold mineralization exists at depth.The firm also mobilized three drilling rigs to the Thunderbolt camp, which Euroz Hartleys assumed meant that Benz liked what it was seeing.The investment firm maintained its buy recommendation and its AU$4.67 per share price target on Benz Mining.

ASX:BNZ

Asia35d ago

MLG Oz's Develop Global Contract Positions it Alongside Emerging Mineral Producer, Euroz Hartleys Says

MLG Oz's (ASX:MLG) contract with Develop Global (ASX:DVP) positions the firm alongside an emerging mineral producer, while also drawing on MLG's prior experience in the lithium services market, Euroz Hartleys said in a Tuesday note.MLG was awarded a fully integrated open pit mining and crushing services contract at the inaugural mining stage of the Pioneer Dome lithium project in Western Australia. The initial 12 month campaign is expected to commence in July and generate around AU$70 million of revenue, contracted in full within fiscal 2027.The integrated scope is important, spanning drill and blast, load and haul, crushing and site services under a single accountable framework.The investment firm maintained its buy recommendation and price target of AU$1.06 per share.MLG Oz's shares were up 5% in recent Tuesday trade, while Develop Global's shares added about 1%.

ASX:DVPASX:MLG

Equities35d ago

Zenith Energy Unit Starts Construction of First Solar Project in Italy

Zenith Energy (ZENA.OL) said Tuesday its subsidiary WeSolar began the construction of its first photovoltaic solar project in Italy's Puglia region.The one-megawatt-peak solar plant is the first of three projects within the energy production and development company's seven-megawatt-peak under-construction portfolio. Construction of the remaining plants will start in July and August.Zenith said it expects all three solar plants to be operational, connected to Italy's national grid, and revenue-generating by the end of 2026.

$ZENA.OL

Research35d ago

Jefferies Upgrades Maruti Suzuki India to Buy From Hold, Adjusts Price Target to INR16,500 From INR13,800

Maruti Suzuki India (NSE:MARUTI, BOM:532500) has an average rating of buy and mean price target of 15,813.95 Indian rupees, 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://finwires.com/en/contact)

BOM:532500NSE:MARUTI

International35d ago

RBA's June Meeting Note Highlights Monetary Policy Board's Hawkishness, ANZ Says

The minutes for the Reserve Bank of Australia (RBA) monetary policy board's June meeting highlighted the board's hawkishness and the risk of a further rate hike, but the cash rate is forecast to remain at 4.35% for the next year or so, ANZ said in a note on Tuesday.The board members had noted that information received since the previous meeting supported the view that the economy was operating "with excess demand and widespread inflationary pressures." The slowing in economic activity is described as being "as expected" and "broadly in line with earlier expectations."The minutes added that the labor market was maybe a little weaker than the board expected, although it "cautioned against reading too much into monthly data outcomes." The housing market was also easing "by more than expected," due to recent increases in the cash rate, tax changes, and the wider economic environment.Given the inflation outlook, there is likely to be some form of tolerance on the RBA's part for weak activity data, the lender said.

ASX 200

Asia35d ago

Nomura Adjusts Bharti Airtel's Price Target to INR2,355 From INR2,220, Keeps at Buy

Bharti Airtel (NSE:BHARTIARTL, BOM:532454) has an average rating of buy and mean price target of 2,294.56 Indian rupees, 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://finwires.com/en/contact)

BOM:532454NSE:BHARTIARTL

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US Markets35d ago

South Korea Enlists Samsung, SK Hynix, Naver in Multitrillion-Won AI, Chip Investment Plan

^KOSDAQKOSPIKRX:000660KRX:005930KRX:035420