SGX

Total market turnover value on the Singapore Exchange (SGX) reached $30.27 billion last month, an 11.5 per cent increase from $27.15 billion in the year-ago period. This also represented a 12.2 per cent rise from $26.99 billion in April.

Optimism of a sustained economic recovery from the global health crisis bolstered derivatives demand, while cash equities were actively traded even as inflation concerns moderated gains, SGX said yesterday. Securities daily average value also climbed, up 5.6 per cent on the year to $1.59 billion.

THE BUSINESS TIMES

Union Gas

Fuel products provider Union Gas has received in-principle approval from the Singapore Exchange to transfer from the junior Catalist board to the mainboard, subject to shareholders' approval.

Union Gas was listed on the Catalist in July 2017. In a press statement, the firm said it eyes greater visibility and market recognition with a mainboard listing.

Union Gas has over 40 years of operating track record. Its three key offerings are retail liquefied petroleum gas, compressed natural gas and diesel. It has a fleet of over 200 delivery vehicles.

THE BUSINESS TIMES

Huawei

China's Huawei Technologies aims to develop driverless passenger car technology by 2025, an executive said on Thursday, as the world's largest telecommunications equipment maker diversifies its business in the face of United States sanctions.

"Our team's goal is to reach true driverless passenger cars in 2025," Huawei senior executive (smart vehicle unit) Wang Jun told an industry conference.

Huawei has pivoted to smart electric vehicles after its global smartphone business was hammered by US sanctions.

REUTERS