Trump Set to Unveil New Tariffs on Dozens of Countries as Global 10% Duty Nears Expiration 
Gold Climbs Above $4,000 as Middle East Tensions and Fed Outlook Drive Safe-Haven Demand 
US-Iran Conflict Escalates as Gulf Attacks Threaten Global Oil Supply 
US Stock Futures Hold Steady as Tesla, Alphabet Earnings and Iran Conflict Dominate Market Focus 
South Korea’s Coupang Fine Sparks U.S. Criticism, Raising Concerns Over Bilateral Ties 
European Stocks Slip as Earnings, UK Inflation and ECB Decision Keep Investors on Edge 
Lockheed Martin Unveils Lower-Cost Patriot ACE Interceptor to Meet Rising Air Defense Demand 
Chalco Shares Jump as Chinalco Plans Up to $300 Million Stake Increase 
Gold Prices Slip Near $4,000 as U.S.-Iran Conflict Fuels Inflation Fears 
Australia ASIC Tightens Auditor Oversight After KPMG Leak Scandal 
Japan Yen Slides Past 163 as Middle East Tensions Lift US Dollar, Oil Prices 
Oil Prices Extend Four-Day Rally as U.S.-Iran Conflict and Red Sea Threats Raise Supply Fears 
Germany Producer Prices Rise 1.8% in June, Missing Forecasts 
TSMC Sees Multi-Year AI Chip Demand as Arizona Expansion Reaches $265 Billion 
Why Maruti Suzuki Is Losing Market Share in India as SUVs and Premium Features Gain Popularity 
Super Micro Computer Stock Jumps 20% After Record AI Orders and Margin Surge 
Wistron Opens $700M Texas AI Factory to Build Nvidia GB300 Superchips 
Hanwha Group just received another approval for its takeover of Daewoo Shipbuilding & Marine Engineering Co. (DSME). The latest country to hand down a “go ahead” signal is the European Union.
The DSME is one of the largest shipbuilders in South Korea, and the Hanhwa Group is planning to acquire it. However, it must first get the approval of regulators from some countries, and with the EU’s approval, it has now brought Hanhwa closer to the completion of its acquisition.
As per Pulse News, several business insiders revealed that although it was only reported now, the European Commission actually approved the acquisition on March 31. EU’s decision came earlier than expected because it was already stated before that the preliminary review results are set to be released on April 18.
It was last year when Hanwha Group agreed to acquire managerial control rights at Daewoo Shipbuilding company for KRW2 trillion or $1.5 billion. The huge investment will give the Seoul-based conglomerate a 49.3% stake in the DSME once all local and international anti-trust regulators approve the deal.
Previously, the EU rejected the merging of Korea Shipbuilding & Offshore Engineering Co. (KSOE) and Daewoo Shipbuilding citing concerns over their monopoly in the building of liquefied natural gas vessels. But this time, the EU approved of Hanwha Group’s takeover.
The United Kingdom is now expected to approve the deal as well after the EU’s decision was revealed. At this point, Hanhwa has already received the green light from Turkey, Vietnam, Japan, Singapore, and China.
Finally, Yonhap News Agency reported that South Korea's Fair Trade Commission has yet to hand out its decision. The antitrust regulator has been reviewing the deal since December 2022 but it has not given a clear indication regarding its position - if it will allow Hanhwa Group’s takeover of DSME or not. Then again, the FTC may release the result of its review soon because its deadline to do so is approaching.
