Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
U.S. Stock Futures Edge Higher as Micron Earnings Boost AI Sentiment Ahead of CPI Data 
Apple Explores India for iPhone Chip Assembly as Manufacturing Push Accelerates 
Republicans Raise National Security Concerns Over Intel’s Testing of China-Linked Chipmaking Tools 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
ANZ New CEO Forgoes Bonus After Shareholders Reject Executive Pay Report 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
California Jury Awards $40 Million in Johnson & Johnson Talc Cancer Lawsuit 
Strategy Retains Nasdaq 100 Spot Amid Growing Scrutiny of Bitcoin Treasury Model 
New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
SUPERFORTUNE Launches AI-Powered Mobile App, Expanding Beyond Web3 Into $392 Billion Metaphysics Market 
Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
Fortescue Expands Copper Portfolio With Full Takeover of Alta Copper 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
Hyundai Heavy Industries has secured an order from the Philippine Department of National Defense. The contract is for the delivery of six patrol vessels for the Philippine Navy.
According to The Korea Herald, the cost of the deal is $573 million, and it is for Hyundai Heavy Industries to build and deliver 2,400 metric-ton Offshore Patrol Vessels for the said executive department of the Philippine government responsible for guarding against external and internal threats to peace and security in the country.
It was revealed on Monday, June 27, that Hyundai Heavy will be constructing the ordered OPVs at the company’s shipyard located in Dong-gu, Ulsan. The patrol vessels are expected to be built by 2028.
Based on the reports, each of the Philippine Navy vessels is going to be fitted with a 76-millimeter main gun, a helideck for a helicopter and autonomous aerial vehicles, and two sets of 30-mm secondary guns. It was designed according to the requirements of the naval warfare service branch of the Armed Forces of the Philippines.
Starting with this OPV order from the Philippine government, Hyundai Heavy is aiming to secure a bigger presence in the OPV market overseas. The Korea Times reported that the signing ceremony for the orders was held at the office of the Philippine Department of National Defense in Manila.
Key officials were present in the event led by the country’s defense secretary Delfin N. Lorenzana. Other attendees were General Andres Centino, Philippine Chief of Staff of the Armed Forces; Vice Commander of the Philippine Navy, Caesar Bernard N. Valencia; President of Korea Shipbuilding and Offshore Engineering (KSOE), Ka Sam Hyun; Business Unit Chief Operating Offer of the HHI Naval & Special Ship, Nam Sang Hoon; and the Republic of Korea’s Ambassador to the Philippines, Kim In Chul.
“I am glad that our strategy, in which we preemptively developed and exported various types of naval vessels by studying global market demand, has come to fruition,” CEO Nam said in a statement. “We will continue to lead the naval ship market by focusing on technological development through intensive investment in R&D, along with business diversification.”
