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ABB India Partners Kolkata Metro for Electrification and Motion-Control Systems

ABB India (NSE:ABB, BOM:500002) said Kolkata Metro has partnered with the company to improve efficiency, reliability and safety across its expanding urban transit network, according to a Wednesday filing to the Indian stock exchanges.The company said its electrification and motion-control solutions have been deployed across key infrastructure, including stations and underground tunnels, supporting operations across both underground and elevated corridors.Shares of the company fell nearly 2% in recent trade.

BOM:500002NSE:ABB

Asia39d ago

Daiwa Securities Living Investment Secures 1 Billion Yen Unsecured Facility from Daiwa Next Bank

Daiwa Securities Living Investment (TYO:8986) secured a 1 billion yen unsecured and unguaranteed facility from Daiwa Next Bank, strengthening its financial base, according to a Tokyo bourse filing on Wednesday.The Japan-based real estate investment trust said that the facility will secure its flexible financing options, effective June 30, 2026, and will run through June 30, 2027.The new agreement replaces an existing commitment line with the same borrowing limit, which expires on June 30, and the proceeds will be used for new property acquisitions and debt repayments.

TYO:8986

Asia39d ago

Hong Kong Stocks Rebound; Seer Intelligent Technology, Micot Pharma Shine on Debut

Hong Kong stocks rebounded Wednesday as investors looked past volatility in AI-related shares and focused on signs of progress in U.S.-Iran peace talks.The Hang Seng Index rose 0.3%, or 75.90 points, to close at 23,412.18, while the Hang Seng China Enterprises Index edged up 5.61 points to finish at 7,764.97.A sharp selloff in semiconductor stocks dragged the Nasdaq and S&P 500 to one-week lows Tuesday amid concerns over AI spending and a more hawkish Fed.Meanwhile, U.S. President Donald Trump said Tuesday that Iran had agreed to allow nuclear inspections indefinitely, a claim Tehran rejected, saying no such concession had been made in ongoing negotiations.The two sides, which concluded a first round of talks in Switzerland on Monday, also offered conflicting accounts on key elements of the framework agreement reached last week.In corporate news, two companies made their trading debut on the Hong Kong bourse.Shanghai Seer Intelligent Technology (HKG:6106) closed 4% higher at HK$106.00, compared with the offer price of HK$101.60.Shaanxi Micot Pharmaceutical Technology (HKG:2335) advanced 103% to close at HK$36.90, versus its offer price of HK$18.20.

Hang SengHKG:2335HKG:6106

US Markets39d ago

KNDS Plans IPO to Ramp Up Operations for European Military Modernization

KNDS on Wednesday confirmed its intention to launch an initial public offering, with listings on both the Euronext Paris and the Frankfurt Stock Exchange, as the pan-European land defense group aims to scale operations to meet demand from modernizing European armed forces."We are entering our next chapter from a position of strength, with high demand visibility, a record backlog and an industrial platform that we continue to expand across Europe. The planned IPO is a natural next step for KNDS. It will increase our strategic agility and support continued investment in capacity, innovation and next-generation technologies," KNDS Chief Executive Officer Jean-Paul Alary said.That record backlog sits at 33.1 billion euros as of Dec. 31, 2025, according to the group. KNDS added that the pipeline secures long-term revenue visibility and supports its medium-term target of achieving 11 billion euros to 12 billion euros in annual revenue.Existing shareholders, French state-owned holding company Giat Industries and private German holding company Wegmann & Co, plan to sell up to 20% of KNDS' existing share capital as part of the IPO. The offering will be restricted to private placements targeting institutional investors.Concurrently, the German government agreed in principle to acquire a 40% stake in KNDS from Wegmann through its state-owned development bank, KfW. This investment is expected to close before the stock exchange listing, with Germany bearing all associated costs and risks.Following the IPO and KfW investment, France's Giat and Germany's KfW will each hold a 40% stake in KNDS, leaving up to a 20% free float.

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Oil & Energy39d ago

Trump Alleges Price Gouging as Crude Correction Outpaces Gasoline Price Decline

US President Donald Trump said on Truth Social that he has directed the Department of Justice to launch an immediate investigation into major oil companies, accusing them of price gouging in downstream business.The president's directive highlights an asymmetrical lag between rapidly tumbling crude oil prices, which are now close to pre-war levels, and retail gasoline pricing.According to the Energy Information Administration's gasoline and diesel fuel update, US gasoline prices averaged $3.914 per gallon for the week ended June 22.On the other hand, crude prices have declined sharply over the last two weeks, losing the geopolitical risk premiums that pushed oil prices briefly to a peak of $120 per barrel as the US-Iran conflict escalated in the last few months.Trump warned energy executives that retail fuel costs must decline at an accelerated pace to match the broader collapse observed in upstream energy benchmarks."Gasoline prices better start going down a lot faster than what I'm seeing," he said.Trump did not name any oil majors in the post.

Asia39d ago

Market Chatter: CATL Chair Sees EVs as Future AI Token Factories

Contemporary Amperex Technology (SHE:300750, HKG:3750), or CATL, Chairman Robin Zeng said electric vehicles could evolve into mobile AI generators, harnessing idle battery power and chips to produce data tokens, Bloomberg News reported Tuesday.During the World Economic Forum event in Dalian, China, Zeng said many Chinese EVs possess the energy and hardware to become "token factories" for large language models, according to the report.(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.)

HKG:3750SHE:300750

Asia39d ago

Bajaj Finance Raises INR20 Billion Through Debenture Allotment; Shares Up 3%

Bajaj Finance (NSE:BAJFINANCE, BOM:500034) has raised around 20 billion Indian rupees through the allotment of non-convertible debentures on a private placement basis.The company allotted 200,000 non-convertible debentures at a face value of 100,000 rupees each with a coupon rate of 7.92% per annum, according to a Wednesday filing to the Indian stock exchanges.The debentures are proposed to be listed on the wholesale debt market segment of the BSE, and are scheduled to mature on June 24, 2031.Shares of the company rose nearly 3% in recent trade.

BOM:500034NSE:BAJFINANCE

International39d ago

Taiwan's Retail Sales Rise 4.9% in May

Taiwan's retail sales increased 4.9% year over year in May, according to data from the Ministry of Economic Affairs on Wednesday.The pace of growth eased from the 5.2% expansion in the previous month.

Taiwan Weighted

Equities39d ago

Pharos Energy Agrees GBP124 Million Takeover by Ratio Petroleum Energy

Independent upstream oil and gas company Pharos Energy (PHAR.L) agreed to the terms of a recommended acquisition offer by Ratio Petroleum Energy, according to a Wednesday filing.Ratio Petroleum offered up to 0.28 pound sterling for each Pharos share, valuing its entire share capital at 124.3 million pounds sterling. The offer comprises 0.2307 pound in cash, a special dividend of 0.04 pound per share, and a final 2025 dividend of 0.0093 pound per share.Pharos' board intends to unanimously recommend that shareholders vote in favor of the transaction, which is expected to take effect in the first half of 2027 via a scheme of arrangement, subject to shareholder, regulatory, and court approvals.

$PHAR.L

Asia39d ago

Sub Sri Thai Names CFO

Sub Sri Thai (BKK:SST) appointed Budsabong Pansawadi as chief financial officer, effective July 1, succeeding Prajak Jangsangtong, according to a Tuesday Thailand Exchange filing.Jangsangtong will step down from the CFO role on June 30, the warehouse and document storage company said.

BKK:SST

Asia39d ago

S&P Bumps TSMC's Outlook to Positive on Leading Market Position

S&P Global Ratings has changed the outlook on Taiwan Semiconductor Manufacturing's (TPE:2330) AA- long-term issuer credit rating to positive from stable, while affirming the rating, according to a recent release.The company's solid EBITDA and free operating cash flow expansion amid rising technology and scale challenges for peers support the outlook revision, S&P said.Revenue and margin strengths have bolstered the company's position in the global semiconductor foundry sector, with a major share in semiconductor foundry services for advanced high-performance computing chips.The company has a 72% total revenue share among 10 major global foundry service providers, with a revenue scale that is about 8.7 times larger than its closest rival last year, S&P said.Robust metrics should aid in maintaining an expanding net cash position, even with increased capital expenditure and cash dividends in the next one to two years, the rating agency said.The company is capable of narrowing business volatility given broad-end applications and technology leadership, even with likely uncertainty in AI investments, S&P said.

TPE:2330

International39d ago

German Ifo Business Climate Rises in June

Germany's business climate index edged up to 85.6 points in June from the revised 85 points in May, according to data from the ifo Institute published Wednesday.Analysts expected 85.6 points for the month.Meanwhile, the current situation index stood at 87 points, against the prior 86.1 points and the Investing.com consensus estimate of 86 points.The expectations indicator came in at 84.1 points, compared with the revised 83.9 points earlier and the market forecast of 85 points.

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International39d ago

Taiwan's Industrial Production Rises 12% in May

Taiwan's industrial production rose 11.78% year over year in May, according to data released by the Ministry of Economic Affairs (MOEA) on Wednesday.In April, industrial production had increased 14.16%.Manufacturing output climbed 12.68%, with output from the mining and earth and stone harvesting industry falling 7.61%, electricity and gas supply industry slipping 1.29%, and water supply industry rising 3.54%.

Taiwan Weighted

US Markets39d ago

Segro Shares Surge as Prologis' GBP12.6 Billion Takeover Offer Rebuffed

Shares in Segro (SGRO.L) jumped early Wednesday morning after the UK warehouse landlord rejected a 12.6 billion-pound-sterling takeover approach from US-based industrial real estate investment trust Prologis (PRLD.VI, 0KOD.L).Under Prologis' indicative proposal, submitted on June 16, Segro shareholders would have received 0.084 new Prologis shares for each share held. The offer implied a value of 9.25 pounds per share and reflected a premium of 24.6% to Segro's closing share price on Tuesday.The proposal, which would have left Segro shareholders owning 10.5% of Prologis, was unanimously rejected by the target company's board, Prologis said Wednesday.Segro shares rose more than 15% in early trading in London following the announcement.Prologis, one of the world's largest logistics REITs with a market cap of over $130 billion, said the proposed deal offers compelling strategic benefits and urged Segro shareholders to push the board to engage with Prologis and allow a binding offer.However, Prologis noted that there is no certainty it will proceed with a formal bid for Segro.

$0KOD.L$PRLD.VI$SGRO.L

International39d ago

Swiss Economic Sentiment Index Falls in June

Switzerland's economic sentiment index dropped to -25 points in June from -11.1 points in May, according to data from UBS & CFA Society Switzerland published Wednesday.

^SSMI

Asia39d ago

Ulvac Approves Unit Demerger for Planned Flat Panel Display Business Integration in China

Ulvac (TYO:6728) board approved an incorporation-type demerger of its consolidated subsidiary as part of a planned integration of its flat panel display target materials business with a joint venture in China, according to a Tokyo bourse filing on Tuesday.The vacuum technology company said that the target business is currently held by its South Korea-based consolidated subsidiary, Pure Surface Technology, and the split will be conducted as a "human demerger."The demerger, subject to conditions, is scheduled to be effective Aug. 11, and the target business will be transferred to a newly established company.

TYO:6728

Asia39d ago

Cenra Unit Secures NT$5 Billion Syndicated Credit Facility

Cenra (TPE:3716) unit CPH has signed a NT$5 billion syndicated credit facility agreement with a group of lenders led by Mega International Commercial Bank and Taipei Fubon Bank, according to a Tuesday Taiwan Exchange filing.The seven-year facility will be used to refinance existing borrowings, replenish medium-term working capital and optimize the subsidiary's financial structure.

TPE:3716

Asia39d ago

China Ruifeng Renewable Energy Eyes HK$185.7 Million from Share Placement; Shares Slide 5%

China Ruifeng Renewable Energy (HKG:0527) agreed to place between 80 million and 342.9 million shares to raise net proceeds of HK$185.7 million, according to a Tuesday Hong Kong bourse filing.Shares of the wind farm operator were down nearly 5% in Wednesday afternoon trading.The shares, which will be placed to at least six investors at a net issue price of HK$0.54 apiece, represent 16.67% of the company's enlarged issued share capital.The company will use proceeds for future development and replenishment of general working capital.

HKG:0527

Asia39d ago

AI-Driven Boom to Benefit Tech-Heavy Asia-Pacific Economies, S&P Says

Asia-Pacific economies with significant tech manufacturing will benefit from an AI-linked tech export boom, S&P Global Ratings said Wednesday.The benefits from the AI tech rally will counter the adverse effects from the energy shock in these economies, S&P Asia-Pacific chief economist Louis Kuijs said.S&P sees possible upward GDP estimate revisions for markets with solid tech shipments, mainly South Korea and Taiwan, as well as Malaysia, Singapore, and Thailand.Meanwhile, the impact of the energy shock has dampened growth forecasts for India, Japan, New Zealand, and the Philippines, S&P said.The rating agency's forecast for China remains stable as strong export dynamics offset weaker domestic demand.S&P maintained its baseline GDP growth forecasts in the region excluding China at 4.5% for 2026 and 4.4% for 2027.

^BSEFTSE Bursa Malaysia KLCI^KOSDAQKOSPINikkei 225Nifty 50^NZ50^PSEI^SETShanghai Composite^STI^SZSETaiwan Weighted

Asia39d ago

Central China Management's Substantial Shareholder Cuts Stake; Shares Gain 16%

Central China Management's (HKG:9982) substantial shareholder, Joy Bright Investments, agreed to sell shares in the company for a total of HK$48.3 million, according to a Tuesday Hong Kong bourse filing.Joy Bright, which is wholly owned by Chairman Wu Po Sum, entered into separate agreements to sell 414.1 million shares to Wang Rui and 189.4 million shares to Liu Genyu.Before the disposals, Joy Bright held 778 million shares in Central China Management.Shares of the project management company were up nearly 16% in Wednesday afternoon trade.

HKG:9982

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