Market highlights

1 Singapore-listed AEM Holdings bought 109,000 shares on the open market yesterday, at prices of between 50 cents and 51 cents, for a total cost of $54,730. The shares are being held as treasury shares.

2 The European Union has threatened Spain and Portugal with huge fines for failing to fix years of high deficits. Madrid and Lisbon called the accusations unfair but vowed to do whatever was necessary to win leniency from penalties.

3 China's Huawei has signed a memorandum of understanding with development area Dubai South to bring futuristic capabilities and services to Dubai South's Business Park Free Zone in the United Arab Emirates.

4 Singapore's GMG Global issued a profit guidance yesterday, saying it expects to report a net loss for the second quarter ending June 30. This is mainly due to a loss resulting from the disposal of palm oil assets.

5 Best World International said its unit Celcott Investments has invested in a joint venture that offers stem cell banking services.

A version of this article appeared in the print edition of The Straits Times on July 14, 2016, with the headline 'Market highlights'. Print Edition | Subscribe