JAKARTA -PT Trans Power Marine Tbk (TPMA)and PT Samudra Investama Maju (SIM) establish a joint venture in order to acquire 20 sets of tug and barge vessels, as well as 2 units of floating cranes, within the next three years. Rudy Sutiono, Director of TPMA, mentioned that the company will control 51% of the shares,...
Indian shares rose notably on Thursday to reach new record-high closing levels after a handful of Federal Reserve officials left the door open to another large rate cut. According to the CME FedWatch tool, the chances of a jumbo 50-bps cut in November currently remain above 60 percent. A sharp fall in oil prices also...
The Qingdao branch of the Bank of China (BOC) has rolled out a new payment option for Qingdao’s metro transit system through digital yuan hardware wallets. According to the local news outlet Dazhong, this initiative introduces a “deferred payment” system that allows travelers to use the public transit service first and pay later with the...
The Hong Kong stock market bounced higher again on Friday, one session after halting the six-day winning streak in which it had skyrocketed more than 4,200 points or 21 percent. The Hang Seng Index now sits just above the 22,730-point plateau and its tipped to open in the green again on Monday. The global forecast...
Shares of Australian supermarket chains Woolworths Group Ltd. and Coles Group Ltd. were down more than 3 percent on Mondays trading after the countrys consumer watchdog sued them over allegedly engaging in illusory discounting on hundreds of products. The Australian Competition and Consumer Commission or ACCC said it has commenced separate proceedings in the Federal...
A report released by the Labor Department on Friday showed unexpected decreases by U.S. import and export prices in the month of May. The Labor Department said import prices fell by 0.4 percent in May following a 0.9 percent advance in April. Economists had expected import prices to inch up by 0.1 percent. The unexpected...
German stocks were modestly higher on Thursday as a preliminary survey showed German business activity contracted in August for a second consecutive month and by more than expected, reinforcing investor bets on a September ECB rate cut. Dovish Fed expectations also underpinned sentiment following the release of minutes from the Federal Reserve meeting and a...
OSI Systems, Inc. (OSIS) reported on Thursday that net income for the third quarter grew to $34.04 million or $1.95 per share from $21.81 million or $1.27 per share in the prior-year quarter. Excluding items, adjusted earnings were $2.16 per share, compared to $1.49per share in the year-ago quarter. On average, four analysts polled by...
Bitcoin (BTC), the world’s leading cryptocurrency, has maintained its bullish momentum, trading around the $68,469 level. Despite experiencing a dip to an intraday low of $63,600 yesterday, BTC quickly regained strength and surged past the $68,000 mark. This upward trend is fueled by several factors, including Michael Saylor’s optimistic prediction that Bitcoin could reach $13...
European stocks may open a tad higher on Monday, after having suffered heavy losses in the previous session amid heightened political uncertainty in Europe. Asian markets traded mostly lower as a slew of top-tier economic data from China painted a sluggish picture of the economy. China\'s retail sales grew at a faster-than-expected pace in May,...