News

SINGAPORE: Chicago wheat futures rose more than 4% on Monday, rising for a second session in three as worries over supplies from the Black Sea region and strong demand underpinned prices. Corn gained 1.7% while soybeans were up nearly 1%. Read full story

SYDNEY: Australian shares fell on Monday, pulled down by a slide in global equities on Friday as U.S. jobs data signalled the Federal Reserve will likely continue raising interest rates to ease inflation. Read full story

SYDNEY: Asian shares made a muted start on Monday as caution gripped ahead of a critical reading on U.S. inflation, while the euro gained on the yen amid wagers the European Central Bank will take a major step toward policy tightening this week. Read full story

BEIJING: China’s services activity contracted for a third straight month in May, pointing to a slow recovery ahead despite the easing of some COVID lockdowns in Shanghai and neighbouring cities, a private business survey showed on Monday. Read full story

BEIJING: China’s Ant Group, a financial technology (fintech) giant controlled by billionaire Jack Ma, on Monday said it has launched a digital wholesale bank incorporated in Singapore, dubbed ANEXT Bank. Read full story

KUALA LUMPUR: Malaysia is missing a golden opportunity to capitalise on high palm oil prices and could suffer more production losses due to a “severe” shortage of about 120,000 workers, the Malaysian Estate Owners’ Association (MEOA) told Reuters on Monday. Read full story

SINGAPORE: Oil futures jumped on Monday, with Brent rising above $120 a barrel after Saudi Arabia hiked prices for its crude sales in July, signalling tight supply even after OPEC+ agreed to accelerate output increases over the next two months. Read full story

SYDNEY:  Asian shares joined U.S. stock futures in making cautious gains on Monday ahead of U.S. inflation data this week, while the euro touched a seven-year top against the yen amid wagers on European Central Bank tightening. Read full story

BANGKOK: Thailand’s headline inflation rose at a much faster pace than expected in May, hitting a high of nearly 14 years on soaring energy prices and the end of some government support measures, a trend the commerce ministry said would likely continue. Read full story

SEBERANG PERAI: MSM Malaysia Holdings Bhd (MSM), through wholly-owned subsidiary MSM Prai Bhd (MSM Prai), plans to plant 1,000 mangroves in stages this year in an area solely dedicated for tree and mangrove planting in Penang. Read full story