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June 12 (CNN) – President Trump claimed today (June 11, Eastern Time) that the United States has “ended” its war with Iran, after declaring that the two sides had agreed to a “very strong memorandum of understanding” to stop the fighting. Speaking at a phone rally supporting Georgia Lieutenant Governor Burt Jones’s gubernatorial campaign, Trump said, “I don’t know if you’ve heard, but today we ended the war with Iran. They’ve agreed never to have nuclear weapons. That’s what we’re sticking to, that’s the whole goal, that’s 95% of the agreement.” Trump’s remarks came earlier today after he canceled further strikes against Iran, hinting at an agreement on Real Social Media without elaborating on its terms. Iran has not confirmed any agreement.Futures News, June 12th - According to foreign media reports, Malaysian crude palm oil futures on the Bursa Malaysia Derivatives Exchange (BMD) are likely to open lower on Friday morning, following the decline in external markets. International crude oil futures fell after US President Trump announced on Thursday the cancellation of plans to strike Iran. In electronic trading on Friday, Brent crude futures fell further, coupled with a lower close in Chicago soybean oil futures, which will drag down the early performance of Malaysian crude palm oil futures. Malaysian palm oil inventories exceeding market expectations are also unfavorable for prices. Data from the Malaysian Palm Oil Board (MPOB) shows that Malaysian palm oil inventories at the end of May were 2.428 million tons, a 5.15% increase month-on-month, higher than analysts forecasts of 2.36 million tons. However, El Niño weather may lead to drier conditions in Southeast Asia than normal, threatening palm oil production and potentially providing support for palm oil prices.On June 12th, according to foreign media reports, Chicago Board of Trade (CBOT) soybean futures closed lower on Thursday, with the benchmark contract down 0.7%, hitting a four-month low. This was mainly due to generally favorable weather in U.S. soybean producing regions, lower crude oil prices, and a lack of positive news. Stormy weather in the Midwest agricultural region brought widespread rainfall, which will promote early crop growth. Following U.S. President Trumps announcement on Thursday of the cancellation of the "strike on Iran" plan, international crude oil futures fell, also putting downward pressure on the soybean and soybean oil markets. The U.S. Department of Agricultures supply and demand report showed that the 2025/26 and 2026/27 U.S. soybean ending stocks forecasts remained unchanged at 340 million bushels and 310 million bushels, respectively. Analysts had previously expected a slight downward revision to this years soybean ending stocks.On June 12, the Russian Ministry of Defense announced on the 11th that Russian forces had taken control of two settlements in the Donetsk and Kharkiv regions. The announcement stated that Russian forces launched an offensive in northern Donetsk, and urban warfare was underway in Konstantinovka. Russian forces had completely taken control of the eastern part of the city. Meanwhile, the General Staff of the Ukrainian Armed Forces announced on the 11th that Ukrainian forces launched strikes against multiple military, logistical, and industrial facilities within Russia from the early morning of the 10th to the 11th, targeting oil refineries, Russian unmanned systems production facilities, and military command posts.The CEO of Petrobras said drilling will reach the oil reservoir in the Amazonas region in a month.

SingTel Expects Macroeconomic Problems in 2023 Despite First-half Growth

Aria Thomas

Nov 10, 2022 14:36

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Despite a 23% rise in its first-half net income, Singapore Telecommunications (SingTel) said on Thursday that the company may have to shoulder the weight of further macroeconomic issues that are expected to persist beyond fiscal year 2023.


Due to rising inflation and interest rates, the company emphasized that it is "well-positioned" to endure headwinds as a result of its solid financial position and cash generation.


SingTel, which is undergoing a strategic reset, posted a net profit of S$1.17 billion for the month of September, compared to S$954 million for the same period last year.


The company's performance was boosted by a remarkable turnaround at Bharti Airtel, which it partly owned, and an unprecedented gain of S$1.01 billion ($720.25 million) from the sale of a portion of its Airtel investment.


Optus, the Australian division of SingTel, announced a major data breach impacting up to 10 million consumers.


SingTel has established a provision of A$140 million ($89.9 million) for Optus as an exceptional expenditure for external independent review, third-party credit monitoring services, and the replacement of identification documents as required.


CEO Yuen Kuan Moon commented on Optus and its actions, stating, "Although the cyber attack slowed Optus' development at the conclusion of the first half, we expect Optus to return stronger."


SingTel issued an interim dividend of 4.6 Singapore cents per share in addition to a special payment of 5.0 Singapore cents per share, noting that its net debt has fallen by about a third in comparison to the previous year.


Singtel recorded a S$1 billion noncash impairment charge on Optus' goodwill as a result of a weaker Australian dollar and bad customer sentiment. Nonetheless, the company guaranteed that the impairment would not have any effect on its cash flow or performance.

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