Mark Zuckerberg Directed Meta to Create a Prediction Markets App
Meta CEO Mark Zuckerberg has ordered a small team to build a new standalone prediction‑market app, internally dubbed “Arena.” The app will initially use a points‑based system rather than real‑money betting, but could later incorporate monetary wagers. Meta hopes to leverage its billions‑daily active users to drive adoption, echoing a 2020‑2022 experiment called Forecast that was shut down. The move comes as prediction‑market platforms such as Polymarket and Kalshi have surged to more than $130 billion in annual trade volume.
IBM Partners with OpenAI on Enterprise Security AI
IBM announced a partnership with OpenAI to embed frontier AI capabilities into its enterprise security workflows. The deal places IBM in the OpenAI Daybreak Cyber Partner Program and launches a new application‑security service that leverages OpenAI’s cyber models to identify...
Heineken Names First Outsider CEO to Lead Turnaround Amid Sales Slump
Heineken announced that Rafael Oliveira, the outgoing CEO of JDE Peet’s, will become its chief executive on Oct 1, marking the first time the Dutch brewer has hired an outsider. The move follows a multi‑quarter decline in beer volumes as health‑driven shifts...
SoftBank’s Masayoshi Son Dismisses Musk’s Idea for Orbital Data Centres
SoftBank founder Masayoshi Son rejected Elon Musk’s proposal to build orbital data centres, arguing that the modest electricity savings do not outweigh launch costs, maintenance and latency. Son emphasized that the AI arms race will be decided by massive compute capacity...
SpaceX Bankers Kick Off Marketing for Debut High-Grade Bond Sale
SpaceX has launched marketing for its inaugural investment‑grade bond issuance, targeting at least $20 billion. The proceeds will refinance a $20 billion bridge loan that makes up most of its $29.1 billion long‑term debt. The senior unsecured notes will rank pari passu with...
Geo Energy Doesn’t Expect Material Impact From Jakarta’s Plans to Centralise Commodity Exports
Geo Energy said Indonesia's plan to centralise commodity exports will not materially affect its mining, logistics or sales operations. The company highlighted its long‑standing government engagement and strong governance as buffers against regulatory shifts. It also reported that its 92‑km...
Singapore Airlines Plans Debut 5-Year Dim Sum Bond
Singapore Airlines announced plans to issue its first five‑year benchmark dim‑sum bond, an offshore yuan (CNH) instrument, under its existing S$10 billion (≈US$7.4 billion) medium‑term note programme. The airline has engaged Bank of China, DBS, HSBC and Standard Chartered to arrange the...
Vietnam’s Masan High-Tech Materials Says Mine Expansion Could Supply 115 Million Tonnes of Additional Tungsten Ore
Vietnamese tungsten producer Masan High‑Tech Materials announced that its Nui Phao and Nui Chiem expansion projects could unlock about 115 million tonnes of tungsten‑polymetallic ore, enough to sustain 20‑30 years of mining at its current 3.5 Mt per year capacity. The company plans to...
China Keeps Benchmark Lending Rates Unchanged for 13th Month in June
China’s central bank left its benchmark loan prime rates unchanged for a 13th straight month, keeping the one‑year LPR at 3 % and the five‑year LPR at 3.5 %. The decision aligns with market expectations and reflects a cautious stance amid a...
China Places Two US Rare Earths Producers on Export Control List
China’s Ministry of Commerce placed MP Materials and USA Rare Earth on its export control list, banning Chinese exporters from supplying dual‑use items to the firms. The move expands an earlier crackdown that added eight U.S. drone, robotics and aerospace companies....
Taiwanese Brothers Amass US$1 Billion From Boom in Display Chips
Taiwanese brothers Biing‑seng Wu and Jordan Wu, founders of Himax Technologies, have become billionaires as their display driver chips dominate the automotive market, holding about 40 percent of global share. Their 24 percent stake, combined with dividends and stock sales, gives them...
Aluminium’s War Shock Blunted by Dark Transits and Chinese Supply
The Iran‑Israel war threatened to cripple aluminium supply by closing the Strait of Hormuz, prompting fears of prices above $4,000 per tonne. Producers in the Gulf, however, executed clandestine “dark” transits and shifted alumina shipments through Oman, while Chinese smelters...
PE Owners Tap a Hot Loan Market to Pay Themselves
Private‑equity giants Blackstone and Warburg Pincus have added more floating‑rate debt to IntraFi, executing a dividend recapitalisation for the seventh time in three years. In the past month, borrowers launched over US$3.5 billion of leveraged loans and junk bonds to fund owner...
Yen Teeters on Cusp of 40-Year Low; Pound Firms
The U.S. dollar hovered near a 40‑year high against the yen, touching 161.8 yen and threatening a level not seen since 1986. Fed projections of two more rate hikes by year‑end and low‑liquidity conditions have bolstered the greenback, while Japanese...
Singapore Investors See SpaceX Investment as a Long-Term Bet on the Future of the Space Economy
Singapore investors have been backing SpaceX since 2021, attracted by its 60% share of the commercial launch market and its reusable‑rocket advantage. The company’s valuation has surged from roughly $16 billion to $2.4 trillion, driven by the rapid expansion of Starlink’s satellite...
Abu Dhabi’s MGX Weighs Multi-Billion Deal for Singapore-Based Data Centre Operator DayOne: Sources
Abu Dhabi‑backed AI investor MGX is weighing a multi‑billion‑dollar acquisition of Singapore‑based data‑centre operator DayOne. DayOne, which operates facilities across Southeast Asia, Hong Kong, Japan and Finland, is preparing a U.S. IPO that could value the company at about $20 billion....
Oil Shipments Rise in Hormuz Although Questions Grow over Iran’s Transit Terms
Oil traffic through the Strait of Hormuz rebounded after the U.S. and Iran signed a cease‑fire on June 19, with at least four tankers crossing on Friday and 25 commercial transits recorded on June 18 – the highest since mid‑April....
Singapore Shares End Lower; STI Down 0.4%
Singapore’s benchmark Straits Times Index slipped 0.4% to 5,192.70 on Friday, driven by a broad sell‑off that left 241 losers versus 173 gainers and $2.15 bn of trade. DFI Retail Group led the blue‑chip rally, up 4.2% to US$3.68, while ST...
Manus Original Investors Plan to Buy Back AI Firm From Meta for US$2 Billion: The Information
Meta agreed to buy Singapore‑based AI startup Manus for $2 billion in December 2025, but Chinese regulators forced a reversal. Early Chinese investors—including HSG, ZhenFund and Tencent—are now planning to repurchase Manus at the same price, potentially injecting fresh capital to...
SpaceX Bankers Prepare for Bond Sale of at Least US$20 Billion
SpaceX is preparing a minimum $20 billion high‑grade bond offering, the first debt issuance for the Musk‑led rocket, satellite and AI conglomerate. All three major rating agencies assigned BBB‑tier ratings, paving the way for cheaper borrowing after its record IPO that...
DBS Sees 46% Upside for Jardine Matheson; Analysts Expect It to Surpass ‘Conservative’ Targets
Jardine Matheson Holdings (JMH) used its first Investor Day on June 16 to set long‑term targets, including at least 5% annual dividend growth to 2030, a US$500 million share‑buyback programme and a 9% total shareholder‑return goal. The group also pledged to recycle...
Trump Says Apple to Partner with Intel on US Chip Design, Production
President Donald Trump announced on Truth Social that Apple will partner with Intel to design and manufacture its chips in the United States, aiming to diversify away from Taiwan’s TSMC. Intel, which recently began production of its 18A node, secured...
F1 Sponsorship Could Give BYD Lower-Risk Route to Global Recognition
BYD, the world’s largest EV maker, is exploring entry into Formula One, but a full team purchase could exceed $450 million in anti‑dilution fees and require costly infrastructure. Analysts suggest a sponsorship‑only model, which can cost $40‑$60 million per year for a mid‑field...
Asian Refiners Brace for Surge in Persian Gulf Oil After US-Iran Ceasefire Agreement
The United States and Iran have signed an interim cease‑fire deal that will reopen the Strait of Hormuz, unlocking roughly 62 million barrels of crude trapped on 31 supertankers. Asian refiners, who have recently built up inventories after the war‑induced supply...
Starbucks to Add up to 100 India Stores a Year as Coffee Booms
Starbucks’ Indian joint venture with Tata Group plans to add 50 to 100 new stores each year, boosting its footprint to over 500 locations and roughly 30% market share. The chain has doubled its store count in the past five...
Indonesia, Philippines Set to Hike Rates as Caution Prevails: Bloomberg Survey
Bank Indonesia and the Bangko Sentral ng Pilipinas are expected to raise their policy rates by 25 basis points on June 18, bringing Indonesia's BI‑Rate to 5.75% and the Philippines' reverse‑repo rate to 4.75%. Both moves aim to curb inflation...
Sun PhuQuoc Airways Announces Ambitious International Expansion, Aims for 200 Aircraft by 2035
Vietnam’s Sun PhuQuoc Airways (SPA) unveiled an aggressive international growth plan, targeting new routes to South Korea, China, Japan, Thailand, Russia, Mongolia and Kazakhstan in 2026, with further expansion to the Philippines and Australia in 2027. The airline, which currently...
G7 Leaders Tackle Reliance on China for Critical Minerals
G7 leaders in France are drafting a statement aimed at reducing Western reliance on China for critical minerals such as rare‑earths, lithium and cobalt. The proposal includes price supports, subsidies, guaranteed off‑take agreements and a push for private investment in...
China’s Central Bank Hints at Shift Toward Overnight Policy Rate to Match Global Peers
China’s central bank signaled a move toward an overnight policy rate, mirroring the Federal Reserve’s framework. Governor Pan Gongsheng said the PBOC will expand temporary overnight repo and reverse‑repo operations and narrow the rate corridor to 50 basis points. The...
Six Companies Launch Hong Kong Offerings Worth up to HK$19.8 Billion
Six firms launched Hong Kong offerings on June 17, seeking up to HK$19.8 billion (≈$2.5 billion) in capital. Lingyi iTech leads with an HK$8.3 billion (~$1.1 billion) raise for AI‑hardware parts, followed by chip‑designer SG Micro and equipment maker Circuit Fabology. The wave arrives as...
Australia’s Central Bank Warns Rate Hikes Might Not Be over After Holding Fire
The Reserve Bank of Australia kept its cash rate unchanged at 4.35% on June 16, citing a slowing economy but warning that further hikes remain possible if inflation stays elevated. Inflation eased to 4.2% in April, yet core CPI rose...
Strait of Hormuz Transit Will Take ‘Weeks’ to Resume, Mitsui OSK CEO Tells FT
Mitsui OSK Lines CEO Jotaro Tamura told the Financial Times that ships will not resume transit through the Strait of Hormuz for at least several weeks. The statement follows a war that began on Feb 28 with US‑Israeli strikes, which has...
Vietnam Stocks See Biggest Foreign Inflows in Nearly Six Years
Vietnam’s equity market recorded a net $160.4 million foreign purchase on June 15, the biggest daily inflow since September 2020. The surge follows the U.S. and Iran’s agreement to reopen the Strait of Hormuz, which eased Middle‑East tensions and sparked buying across Asian...
South Korea Watchdog Probes Brokerage over Failed SpaceX IPO Share Allocation
South Korea’s Financial Supervisory Service expanded its probe of Mirae Asset Securities after the brokerage failed to obtain any SpaceX shares despite taking investor deposits for a private placement. Mirae sold a $300 million tranche in one minute and had planned...
ByteDance in Talks with China’s Iluvatar CoreX to Purchase AI Chips: Sources
ByteDance is negotiating with Shanghai‑based Iluvatar CoreX and Baidu to buy AI inference chips, potentially adding Iluvatar as its third domestic GPU supplier after Huawei and Cambricon. Iluvatar could ship at least 50,000 chips this year, supporting ByteDance’s Doubao chatbot,...
Singapore Stocks Rally on Iran Peace Deal; Jardine Matheson up 5.3%
Singapore’s Straits Times Index jumped about 1.2% to 5,085 points after a U.S.–Iran peace deal was announced, sparking broad market optimism. Jardine Matheson led the blue‑chip rally, climbing 5.3% to roughly US$66.60 per share ahead of its investor‑day event. Trading was...
Less Travel Translates Into Higher Demand for Consumer Goods, Drives up Freight Rates: Flexport
Higher fuel prices and reduced overseas travel are spurring a surge in fast‑moving consumer goods demand across the U.S. and Europe, pushing ocean freight rates up to three times since the Middle East conflict began. The Shanghai Containerized Freight Index...
Traders Are Most Positive on US Dollar Since February 2025
Traders have become the most bullish on the U.S. dollar since February 2025, accumulating $27.8 billion in long positions according to CFTC data released June 12. The surge follows the U.S. and Israel’s strike on Iran, which lifted oil prices and reinforced the...
China Markets Are ‘Much Cheaper’, but Beware the Crackdown on Overseas Trading: Amundi CIO
Amundi’s chief investment officer Vincent Mortier says Chinese equities are "much cheaper" and the country’s Five‑Year Plan offers medium‑term upside. He notes that Chinese savers still prefer bank deposits and short‑term bonds, leaving equities under‑allocated. However, Beijing’s recent crackdown on...
AI Boom Drives Memory Chip Prices to ‘Insane’ Levels in US, Adding to Inflation Pressures
The AI boom has sent U.S. memory‑chip prices soaring, with 8‑GB RAM modules jumping from about $100 six months ago to roughly $300 today—a 237% year‑on‑year increase. This surge is driven by data‑center construction that demands massive memory capacity, pushing...
Alibaba Bids US$1.5 Billion for China Grocer in Fight with Meituan
Alibaba Group has tabled a $1.5 billion offer to buy Pupu, a leading Chinese instant‑grocery platform, outbidding Sun Art Retail’s earlier $600 million proposal. The move follows Meituan’s $717 million purchase of Dingdong Fresh and signals an intensifying battle among Alibaba, Meituan and...
Singapore Kitchen Equipment Defends Move to Keep CEO, Senior Manager in Jobs Despite Criminal Charges
Singapore Kitchen Equipment (SKE) announced that CEO Chua Chwee Choo and senior manager Koh Sai Eng will remain in their roles despite facing fraud and account‑falsification charges tied to a mis‑dated S$741,721.55 bonus – roughly $549,000. The company says the...
From Moonshot to Markets: Understand the Mechanics Before Plunging Into SpaceX’s Mega IPO
SpaceX’s June 12 Nasdaq debut will sell 555 million shares at $135 each, raising about $75 billion and valuing the company at $1.77 trillion. The offering represents just over 4 percent of total equity, meaning the free float is modest compared with the headline market‑cap....
CICT’s S$3.9 Billion Paragon Buy Draws Scrutiny over Timing, Funding at EGM
CapitaLand Integrated Commercial Trust (CICT) secured unitholder approval for its S$3.9 billion ($2.9 billion) acquisition of the free‑hold Paragon mall, with 99.96% of votes in favour. The deal, discussed at a June 10 extraordinary general meeting, pairs the purchase with a planned S$2.48 billion...
Global Offshore Wind Capacity Set to Grow to 420 GW by End of 2035, Gwec Report Says
The Global Wind Energy Council (Gwec) projects offshore wind capacity to quadruple, reaching 420 GW by the end of 2035. By 2025, 92 GW will be operational, enough to supply roughly 100 million homes. Annual installations are set to double this year, triple...
Chinese Hackers Pose Biggest Espionage Threat to Tech Firms, CrowdStrike Says
CrowdStrike’s latest threat report identifies China‑linked hackers as the top espionage actors targeting technology firms from April 2025 through March 2026. The campaign focused on AI research, semiconductor design, and software development, aligning with Beijing’s strategic push for tech dominance. The report...
Emirates Will Not Cut Flights Despite Middle East War Pressures
Emirates president Tim Clark said the airline will not reduce flights despite the ongoing Iran‑Israel war, keeping routes through Dubai to markets such as India and Australia. He warned that prolonged conflict could cause casualties in the budget carrier segment,...
Singapore Stocks Close Higher After Rebound of Global Chipmakers; STI up 1.2%
Singapore’s Straits Times Index jumped 1.2% to 5,023.25 on Tuesday, rebounding from a sharp sell‑off in global chipmakers the previous week. The rally was led by Thai Beverage, which rose 3.5% to S$0.44 (≈$0.33), while the three local banks each...
Indonesia Asks Police to Probe Hundreds of Firms on Palm Prices
Indonesia’s agriculture minister has asked police to investigate 270‑300 palm oil firms that allegedly failed to raise farmgate prices after a recent slump caused by a new export policy. The policy, announced in May, initially drove fresh fruit bunch prices...
Tencent Seeks US$4 Billion via US Dollar Bond and Offshore Yuan Bond Sale: Sources
Chinese internet giant Tencent announced plans to raise roughly $4 billion through a simultaneous US‑dollar and offshore yuan bond offering. The debt will be issued under its $30 billion global medium‑term note programme, with 10‑ and 20‑year maturities for the dollar notes...