Hims & Hers Shares Fall as GLP-1 Costs Widen Q2 Loss 
Yen Stabilizes After Intervention Slide as Australian Dollar Hits Eight-Week High 
Hanwha Offers Up to $1.2 Billion for Austal US Business 
Trump Media Says Truth API Draws 10+ Customers as Conflict Concerns Grow 
Austal Shares Surge 16% as Hanwha Offers Up to $1.2 Billion for U.S. Shipbuilding Business 
Nintendo Shares Jump as Switch 2 Sales Boost Earnings 
Gold Prices Rise as Fed Rate Hike Bets Ease 
US Dollar Near Two-Month Low as Markets Await Inflation Data 
Australia Housing Crisis Deepens as Worker Shortages Delay Homebuilding 
Mercedes-Benz Stock Offers Deep-Value Potential as Citi Sees Recovery Catalysts 
Natura Q2 Profit Plunges 92% as Financial Expenses Weigh on Earnings 
Treasury Wine Estates Shares Jump as U.S. Overhaul Lifts FY2026 Outlook 
US Judge Dismisses Gautam Adani Criminal Charges 
S&P 500, Nasdaq Futures Rise as Iran Risks and CPI Loom 
Goldman Sachs Sees US Stock Buybacks Outpacing Equity Issuance as AI Funding Rises 
Apple Tests China’s CXMT Memory Chips for iPhones and MacBooks Amid AI Supply Crunch 
UK Retail Sales Rise as World Cup and Heatwave Boost Food, Pubs and Clothing 
Hyundai Heavy Industries has secured an order from the Philippine Department of National Defense. The contract is for the delivery of six patrol vessels for the Philippine Navy.
According to The Korea Herald, the cost of the deal is $573 million, and it is for Hyundai Heavy Industries to build and deliver 2,400 metric-ton Offshore Patrol Vessels for the said executive department of the Philippine government responsible for guarding against external and internal threats to peace and security in the country.
It was revealed on Monday, June 27, that Hyundai Heavy will be constructing the ordered OPVs at the company’s shipyard located in Dong-gu, Ulsan. The patrol vessels are expected to be built by 2028.
Based on the reports, each of the Philippine Navy vessels is going to be fitted with a 76-millimeter main gun, a helideck for a helicopter and autonomous aerial vehicles, and two sets of 30-mm secondary guns. It was designed according to the requirements of the naval warfare service branch of the Armed Forces of the Philippines.
Starting with this OPV order from the Philippine government, Hyundai Heavy is aiming to secure a bigger presence in the OPV market overseas. The Korea Times reported that the signing ceremony for the orders was held at the office of the Philippine Department of National Defense in Manila.
Key officials were present in the event led by the country’s defense secretary Delfin N. Lorenzana. Other attendees were General Andres Centino, Philippine Chief of Staff of the Armed Forces; Vice Commander of the Philippine Navy, Caesar Bernard N. Valencia; President of Korea Shipbuilding and Offshore Engineering (KSOE), Ka Sam Hyun; Business Unit Chief Operating Offer of the HHI Naval & Special Ship, Nam Sang Hoon; and the Republic of Korea’s Ambassador to the Philippines, Kim In Chul.
“I am glad that our strategy, in which we preemptively developed and exported various types of naval vessels by studying global market demand, has come to fruition,” CEO Nam said in a statement. “We will continue to lead the naval ship market by focusing on technological development through intensive investment in R&D, along with business diversification.”
