US Resumes Dollar Shipments to Iraq After Months-Long Suspension 
Asian Stocks Slide as Chip Shares Tumble Ahead of Key U.S. Jobs Report 
Gold Price Hits Annual Low as Fed Rate Hike Bets and Sticky Inflation Weigh on Bullion 
Asian Currencies Slip as Dollar Holds Firm, Yen Near Four-Decade Low Ahead of Fed, Jobs Data 
India Manufacturing PMI Slows in June as Demand Weakens Despite Lower Cost Pressures 
Asian Currencies Stay Under Pressure as Dollar Holds Near 13-Month High Ahead of U.S. Jobs Report 
SK Holdings, KKR Launch $1.3B Renewable Energy Venture in South Korea 
UK House Prices Hold Steady in June as Annual Growth Misses Forecasts 
Nike Q4 Earnings Beat Estimates as Wholesale Growth Offsets Direct Sales Weakness 
UN Chief Urges Nations to Close $100 Million UNRWA Funding Gap 
Trump Administration to Launch Voluntary AI Standards for Frontier Models 
Kawasaki Heavy Shares Slide on Report of ¥200 Billion Capital Raise Plan 
Gold Price Holds Above $4,000 as Fed Rate Hike Expectations and U.S. Jobs Data Weigh on Market 
US Jobs Report Preview: June Payroll Growth Seen Slowing as Fed Rate Decision Looms 
ShareChat Eyes 2027 IPO After Reaching Operational Profitability, Report Says 
Super Micro Employees Detained in Taiwan AI Server Export Investigation 
Wall Street Futures Rise Ahead of JOLTS Data, Nike Earnings, and U.S.-Iran Talks 
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.”
