Business

Heritage firm My Community Limited has entered provisional liquidation due to liabilities. Founder Kwek Li Yong, previously arrested for suspected forgery, faces a creditors' meeting on July 24 to discuss assets.

Tech experts warn that AI adoption requires urgent workforce upskilling, stronger cybersecurity, and clear human accountability to mitigate job displacement and operational risks in the evolving digital landscape.

Multiple US states are preparing to sue as early as next week to block Paramount's 110 billion dollar acquisition of Warner Bros. Discovery. Officials are concerned the merger could harm market competition, potentially leading to higher streaming prices and reduced content variety for consumers.

Oil prices rose over a dollar per barrel as the U.S. military launched fresh strikes against Iran. The escalation follows heightened tensions in the Strait of Hormuz, causing global supply concerns and pushing crude benchmarks to their highest levels in two weeks.

Japanese company ispace is launching a new lunar cargo service using SpaceX’s Starship rocket. By purchasing 500kg of capacity for $50 million, ispace will act as a lunar access integrator, offering ride-share opportunities to global clients for moon missions starting by 2030.

India's HCLTech has secured a 1.14 billion dollar, five-and-a-half-year contract with a major European firm. The deal focuses on implementing an AI-driven operating model to manage the client's global digital workplace and enterprise networks, significantly boosting HCLTech's stock performance.

The Thai National Shippers' Council has raised its 2026 export growth forecast to 8%–10%, up from the previous 2%–4% estimate. This growth is driven by strong demand for electronics and AI goods, despite potential risks from geopolitical tensions and global trade uncertainties.

OpenAI has initiated discussions to grant the US government a 5 percent stake in the company. This proposal is part of a broader strategy to share AI-driven financial gains with the public while addressing increasing regulatory pressure from the Trump administration on major AI developers.

Russian oil volumes in Singapore have reached a yearly high due to Middle Eastern supply disruptions from conflict. Despite sanctions, Singapore continues importing Russian fuel oil because it remains a crucial supplier for the region's vital bunkering hub.

The Information reports that Baidu's AI chip unit, Kunlunxin, plans a massive IPO in Hong Kong. The listing reportedly targets an ambitious valuation of $50 billion. Reuters noted that they could not immediately verify this significant market report.

Australian firm Firmus Technologies partnered with Nvidia to provide affordable cloud computing power. The deal will deliver 170,000 GPUs in Indonesia, aiming to level the playing field for emerging AI firms.

Facing US restrictions on advanced AI, Austria has urged the EU to host Anthropic within its borders. This proposal aims to provide legal certainty and market access for the company, ensuring Europe remains an architect of its own technological future.