Singapore

Asian share markets followed Wall Street's lead on Monday, after a weak U.S. employment report reduced the risk of an increase in borrowing costs near-term. However, a lackluster progress in Gulf peace negotiations saw oil prices rise. Iran said?on Sunday? that an agreement with Oman to define new shipping lanes through the Strait of Hormuz is in its final stages. However, it reiterated that this waterway will only be reopened once the United States meets other conditions. Brent crude increased 0.6% to $84.04 per barrel, as the shipping volume through this vital waterway was minimal. U.S. crude climbed 0.5% to...

The Asian share market matched Wall Street's gains on Monday, after a weak U.S. employment report reduced the risk of an increase in borrowing costs near-term. However, a lack progress?in Gulf Peace talks led to oil prices?creeping?higher. Iran announced on Sunday that it was nearing the final stages of a deal that would define new shipping lanes for the Strait of Hormuz. However, the Iranian government reiterated that this waterway will only be reopened once the United States meets other conditions. Brent crude increased by 0.9% to $84.32 per barrel, as the shipping volume through this vital waterway was minimal....

The global stock market is on track for its biggest weekly gain since the beginning of May, after a weaker than expected U.S. job report eased concerns about an imminent Federal Reserve interest rate hike. Meanwhile, strong earnings and AI enthusiasm overshadowed concerns about the Iran War. U.S. stock prices opened higher on the Friday, and Treasury yields dropped. This reflects a waning expectation that the Fed would raise rates next month. The Nasdaq gained 0.7% during early trading, while the dollar dropped. This gave the Japanese yen some relief. The yen rose to 157.20 against the dollar, after previously...

Singapore's oil product stocks, Asia's "key fuel trading hub", registered their first weekly increase since June 24. This was due to a rise in the light distillate and residue fuels inventories that offset a decline in middle distillate stockpiles, according to government data. Enterprise Singapore's data shows that total onshore oil products stocks increased to 39.455 millions barrels from 37.952million barrels the previous week. RISE OF LIGHTS AND RESIDUAL FUELS The inventories of light distillate, which includes naphtha, gasoline and other fuels, rose for the second week in a row to 12.539 millions barrels during the week ending August 5....

European stocks rose alongside U.S. Futures on Tuesday. However, a'rebound in the oil price underscored market scepticism about the U.S. - Iran war being resolved quickly by diplomacy. The yen has weakened, but still held onto most of its gains following last week's joint intervention by Washington and Tokyo to support the currency. Majed al Ansari, spokesperson for the Qatar Foreign Ministry, said that diplomatic efforts were being made to end the U.S. - Iran war. However an attack near Strait of Hormuz raised doubts about the conflict's conclusion. Brent futures increased 1.5% to $85.05 per barrel, after falling 7%...

European stocks rose?alongside U.S. Futures on Tuesday. However, a rebound in the oil price underscored market scepticism about the U.S. -Iran War?being resolved quickly by diplomacy. The yen eased slightly but still held onto most of its gains after the joint intervention by Tokyo and Washington last week to support the currency. The latest attack in the Strait of Hormuz highlighted the risks for global energy flows. Brent futures increased 1.4% to $84.95 per barrel, after falling 7% the previous session and reaching a three-week high. Europe's STOXX600.STOXX rose 0.55% with tech stocks up 1.7%. Nasdaq Futures rose 0.67%, while...

Asian markets were volatile on Tuesday as investors assessed whether the strong earnings of U.S. corporations would help AI-related stocks to rise in the region. Oil prices also rose after the attacks on shipping along the Strait of Hormuz. MSCI's broadest Asia-Pacific share index outside Japan fell 0.1% as volatile South Korean stocks fluctuated between gains and losses. The last gain was 1.2%. Japan's Nikkei225 slid 0.2% higher, while S&P500 e-minis futures were up 0.3%. Societe Generale's analysts stated in a report that "the AI trade has matured". Investors are increasingly focused on?the sustainability? of margins after 2026, they stated....

Asian markets opened with modest gains as investors followed a rally around the world. Oil prices remained near their lowest levels for weeks, as the U.S. - Iran conflict remained stalemated. MSCI's broadest index of Asia-Pacific stocks outside Japan was up 0.1%. South Korean shares rallied as much as 2.1 percent. Japan's Nikkei fell 0.3% while S&P500 e-minis futures grew 0.1%. The Dow Jones Industrial Average closed at a record high overnight after data showed that U.S. Manufacturing Activity increased to its highest level in over four years in July. Chris Weston is the head of research for Pepperstone Group,...

Abu Dhabi National 'Oil 'Co announced on Friday that it will switch the benchmark for its monthly official selling price for all of its crude grades from Murban crude prices to Platts Dubai pricing for immediate-month from November 1. ADNOC said that the change will apply to Abu Dhabi crude grades onshore and off-shore, including Murban Das Umm Lulu Upper?Zakum and Murban. The company stated in a?statement?that it would align ADNOC OSPs with the month of cargo loading. ADNOC will announce the differentials between Dubai and ADNOC quotes in the month prior to cargo loading. ADNOC stated that the new...

The stock market was mixed on Friday as it gave back much of its earlier gains. Meanwhile, longer-dated Treasury Yields reached new multi-year heights after Federal Reserve officials claimed that more interest rate increases are necessary to combat inflation. A?market source? said that currency markets were also on high alert for any further intervention a day after Japanese authorities intervened to support the yen. Three Fed policymakers, who dissented for a rate increase at the meeting this week, made their case public on Friday in support of higher rates. The Fed left rates unchanged, a result that was widely expected...

On Thursday, the U.S. government’s?long term borrowing costs reached their highest level since 2007. Global shares also tried to recover after Microsoft’s?earnings reduced some AI concerns. The yield on 30-year Treasury bonds hit a high of 5,244% in New York trading the day before, after the Federal Reserve held interest rates at the same level as the previous day, even though Chair Kevin Warsh gave mixed messages about monetary policy and inflation expectations. The Fed's next moves were difficult to predict, and Warsh's decision not to provide any forward guidance made it even more difficult. Investors are frightened by the...

Asian stocks were choppy in trading on Thursday, after a week of market turmoil sparked by AI fears. A divided Federal Reserve remained steadfast on interest rates, leaving bond markets unsure about the next move. Brent futures fell below $90 a barrel after jumping by 7% the day before as fighting escalated in the Middle East. Data showed that tankers were still making their way out of this region despite continued strikes. Investors were confused by the Fed's split decision on whether it would raise rates to combat inflation. The yields on longer-dated U.S. Treasuries reached 19-year-highs. This week, Asian...

Gary Nagle, the CEO of Glencore, said that the company had?taken an provision relating to Radiant World. However, he added that Glencore's exposure towards the iron ore trading firm was not significant. We have some existing contracts that still need to be completed. Nagle said on a conference call that they are assessing how to deal with them in a legal manner. However, we have stopped doing any new business. Bloomberg reported that last week, fellow trading houses Vitol and Cargill had stopped doing business Radiant World because they were concerned about the validity of invoices sent to their banks....

Two industry sources claim that Trafigura, a commodity trading house, holds a large share of zinc available on the London Metal Exchange. This is despite the fact that the prices of zinc, which is used to galvanize steel, have reached their highest levels in nearly four years. Available, or on-warrant, LME zinc stocks Just 73,850 tons of refined zinc were consumed in the world last year. This is equivalent to two days' global consumption. According to the International Lead and Zinc Study Group, the world consumed 13.8 million tonnes of refined zinc in 2012. LME data shows that three entities...

The Mexican silver miner Sinda raised $213 million in its U.S. initial public offering. Shares of the company fell 10% on their debut at the New York Stock Exchange. Stocks of the San Miguel de Allende, Mexico based company opened at $10.80 each, lower than the $12 offered price. Sinda sold 17,75 million shares within the marketed price range of $11.25 - $13.25 per share. In recent months, a growing number of mining firms have turned to the capital markets to fund their capital-intensive operations and capitalize on the high metal prices. Pricing of the IPO below the middle of...

Four?sources? with knowledge of the situation said that Cargill aims to sell its iron ore and trading business by late July?or early august, as it refocuses its operations on food and agriculture. According to Cargill, the Singapore-based company is a large one, with a trading volume of 60 to 70 millions metric tons of iron ore per year and up to 4 million tons steel. This makes it a target for companies that are looking to expand their physical trading. Sources say that the original deadline for the sale was late May, which is the end of Cargill’s financial year....

Singapore is establishing an over-the counter gold clearing system and introducing central bank gold vaulting services. This comes as the city state looks to establish itself as a gold trading hub. Gan Kim Yong, the Deputy Prime Minister, told the Asia-Pacific Precious Metals conference on Monday that the Singapore Exchange will?establish a gold clearing system over-the-counter for Loco Singapore or physical gold in Singapore by the end this year. He said that six banks will be clearing members: DBS, Deutsche Bank ICBC Standard Bank J.P. Morgan OCBC, UOB. Gan stated that the Monetary Authority of Singapore (MAS) will offer central...

The mining firm Sinda filed for a U.S. IPO on Friday, marking billionaire Thomas Kaplan's'second attempt' to enter the public markets, following Sunshine Silver's listing a 'day earlier', as 'interest in IPOs' rebounded. The filing did not reveal the terms of?the?offering. The U.S. IPO Market exploded in 2026. A variety of sectors were eager to list and take advantage of the excitement among investors for new listings. Elon Musk’s SpaceX will?start trading in New York in what is expected to be the largest IPO ever. Anthropic, a leading AI company, also filed a confidential application to go public last week....

The Australian share market closed Monday at its lowest level in over a month, with mining and gold stocks dragging it down. This was due to a fall in commodity prices. Meanwhile, the stagnation of Middle East peace negotiations boosted crude prices, fueling inflation fears. The benchmark S&P/ASX 200 ended 1.5% lower, at 8,505.30 point, its lowest close since March 31, As commodity prices fell, the number of miners dropped 2.8% to a new low. BHP and Rio Tinto fell between 2.8% to 3.6%. Gold miners fell 4% while real estate dropped about 3%, and financials fell 0.3%. Santos and...

Trafigura, a global commodity trading firm, announced?on Thursday?it?had?signed an offtake agreement with Heath Goldfields Ltd., a Ghanaian-owned mining company. The deal was to purchase 700,000 ounces gold dore at the Bogoso Prestea mine located in western Ghana. Trafigura said in a press release that it would provide $65 million of debt financing in addition to the?offtake in order to support the restart of oxide ore mining operations at the mine. Trafigura stated that it would 'act as an offtaker of gold dore' (a'semi processed gold product? )?generated at the Bogoso Prestea processing facility. Deliveries are expected to begin later this...

Muyuan Foods shares closed slightly higher on Friday in Hong Kong, following the world's largest pig breeder. raised HK$10.7 Billion ($1.4 Billion) in a share sale This is the largest city-wide event so far in this year. The shares of the firm opened at HK$39 per share, matching their initial offer, and ended 3.9% higher, at HK$40.52, after trading between HK$38.98 and HK$41.72, with 40.59 millions shares worth HK$1.63billion changing hands. The benchmark Hang Seng Index ended 1.2% lower. This is the biggest share sale in Hong Kong in recent memory, surpassing Zijin Gold International $3.5 billion in September. Dickie...

Sany Heavy Industry's shares rose up to 4.7% on their Hong Kong debut Tuesday, after the Chinese construction equipment maker raised HK$12.36bn ($1.59bn) in one the biggest listings in the city this year. According to the prospectus, this company was founded in 1994 and is part of the Sany Group. It is now China's leading construction machinery manufacturer, and ranks among the top three worldwide. Sany, which manufactures excavators and concrete machinery as well as road construction equipment and cranes, operates 16 production bases in different countries and sells its products to more than 150. The stock price opened at...

This week, a delegation of Singaporean firms is visiting South Africa to explore partnership opportunities in manufacturing, logistics and consumer goods. Trade between the two countries has almost doubled in the last four years. Enterprise Singapore, Singapore's agency for trade and enterprise, stated that this mission was part of the Scale-Up Programme and aimed to link participating firms with South African counterparts, and potential partners, in a variety of sectors including agriprocessing and industrial supplies. "South Africa is already a close partner of Singapore, and there are many Singaporean firms operating in South Africa," Rahul Ghosh said on Thursday. He...

Two people who have direct knowledge of this matter say that Anugrah Neo Energy Materials, a nickel mining and processing firm in Indonesia, plans to make an initial public offer on the Indonesia Stock Exchange. The company hopes to raise $300 million. Sources declined to identify themselves as this information is not public. According to sources, Anugrah Neo Energy Materials could be valued at more than 2 billion dollars. Proceeds will also be used for expansion. They added that DBS and RHB are among the banks involved in the IPO. Anugrah Neo Energy Materials didn't immediately respond to an inquiry...