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Corporate News

SpaceX set to overtake Amazon in value as it soars

SpaceX shares surged in premarket trading, putting the firm on track to overtake Amazon.com Inc as the fifth largest publicly traded company in the world just days after its blockbuster debut.

Corporate News

Adani Green seeks US$1bil loan after US settlement

Adani Green Energy Ltd is seeking to raise as much as US$1bil through an offshore loan, according to people familiar with the matter – its first overseas borrowing since emerging from legal troubles in the United States.

Economy

Japan’s trade balance swings to deficit

Japan's trade balance swung to a deficit for the first time in four months as imports of chips and other electronic components soared.

Economy

Oil price slide offers big disinflation boost

The Philippines is poised to be one of Asia's biggest beneficiaries from the tentative peace deal between the United States and Iran, with lower oil prices expected to accelerate the country's inflation slowdown, according to Nomura Global Markets Research.

Aviation

Vietnam to open seven new airports by 2030

Vietnam plans to bring seven new airports into operation by 2030 as part of a broader effort to expand the country's aviation network and meet rising travel demand.

Markets

S. Koreans snap up US$800mil SpaceX stocks

South Korean retail investors snapped up almost US$800mil of SpaceX shares on the stock's first day of trading, underscoring strong demand for Elon Musk's company after local investors were shut out from the world's largest initial public offering (IPO).

Economy

ECB: Iran deal isn’t enough to fix energy shock

European Central Bank (ECB) officials are signalling that a United States-Iran peace accord does not necessarily stop them from lifting interest rates further, even if it prevents a more pronounced overshoot in inflation.

Commodities

Oil rises on Iran deal doubts; IEA warns of glut

Oil prices gained nearly 1% on Wednesday after US President Donald Trump said the new ceasefire agreement with Iran was not final and the Iran war could resume if he is unsatisfied, but concerns over excess supply next year limited the gains.

Markets

S&P, Nasdaq futures inch up ahead of Warsh's debut

S&P 500 and Nasdaq futures edged higher on Wednesday, as chip stocks rebounded ahead of the first interest rate decision under new Federal Reserve Chair Kevin Warsh.

Economy

Japan's interest rate normalisation seen to have greater impact on Asia than Europe

KUALA LUMPUR: The Bank of Japan's (BOJ) ongoing policy normalisation is likely to have a greater impact on Asian financial markets than the European Central Bank's (ECB) higher-for-longer interest rate stance.

Markets

Japan's Nikkei closes at record high near 70,000 on AI boost

TOKYO: Japan's Nikkei share average closed at a record high for a third straight session on Wednesday, ending just shy of the 70,000 mark, on easing concerns over the Middle East conflict and sustained buying in AI-related shares ahead of the U.S. Federal Reserve's policy decision.

Commodities

IEA sees gradual Hormuz recovery tipping into significant 2027 surplus

LONDON: The world oil market will recover gradually from the closure of the Strait of Hormuz before tipping into a significant surplus in 2027, the International Energy Agency said in its monthly oil market report on Wednesday.

Markets

Oil extends fall, stocks steady as traders wait on Warsh

SINGAPORE: Sinking crude prices on news that Iranian fuel may soon hit global markets heralded inflation relief and pushed bond yields lower on Wednesday, while stocks and currencies were quieter ahead of Kevin Warsh's debut meeting as Federal Reserve chair.

Forex

China makes new push to take yuan global, vows vigilance against financial risks

SHANGHAI: China announced fresh measures on Wednesday to promote the global use of the yuan and unveiled plans to better manage domestic money market liquidity.

Markets

Japan's Nikkei rises as investors weigh Iran conflict outlook, Fed decision

TOKYO: Japan's Nikkei share average rose on Wednesday as investors weighed prospects for an end to the Middle East conflict and awaited the U.S. Federal Reserve's policy decision.

Commodities

Oil slides on Iran supply prospects as traders wait on Warsh

SINGAPORE: Tumbling crude prices on news that Iranian fuel may soon hit global markets promised inflation relief and pushed bond yields lower on Wednesday, while stocks and currencies were quieter ahead of Kevin Warsh's debut meeting as Federal Reserve chair.

Corporate News

ESG-ready Malaysian businesses better positioned to penetrate EU market, says GRI

KUALA LUMPUR: Malaysian companies equipped with strong environmental, social and governance (ESG) practices and reporting standards will likely have a distinct competitive advantage and access to business opportunities in the European Union (EU) and other international markets, a sustainability reporting expert said today.

Aviation

Airbus confirms cancellation of AirAsia X order for 15 A330-900 aircraft

KUALA LUMPUR: Airbus has confirmed that AirAsia X's order for 15 Airbus A330-900 aircraft has been cancelled by mutual agreement between the two parties.

Forex

Dollar on the defensive ahead of first Fed decision under Warsh

SINGAPORE: The dollar eased on Wednesday ahead of the Federal Reserve's first policy decision under Chair Kevin Warsh, with lingering optimism over an interim U.S.-Iran peace deal underpinning risk appetite and dampening demand for the U.S. currency.

Economy

Singapore's May exports rise bigger-than-expected 38.4% y-o-y, boosted by AI demand

SINGAPORE: Singapore's non-oil domestic exports rose by 38.4% in May from a year earlier, data showed on Wednesday, as robust AI-related demand boosted exports of integrated circuits, disk media products and PCs.