CNA938 Rewind - Stock take today: US-China reach agreement, new record for the S&P 500
CNA938 Rewind
On the daily markets analysis on Open For Business, Andrea Heng and Hairianto Diman speak with Brian Szytel, Managing Director, Partner and Co-Chief Investment Officer, The Bahnsen Group.
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CNA
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Oracle shares soar as AI cloud demand propels revenue forecast
Oracle shares surged nearly 8 per cent in premarket trading on Thursday after the company raised its annual revenue forecast, driven by strong demand for its AI-related cloud services. The stock has risen nearly 6 per cent so far this year as confidence in the software sector remained strong despite geopolitical tensions, even as analysts warn that U.S. President Donald Trump's tariffs could undermine Big Tech's AI investments. Earlier this year, Oracle, whose cloud offerings help companies build their AI infrastructure, announced a joint venture called Stargate to deliver large-scale computing capabilities to OpenAI. "Oracle's once-stodgy image levels up to 'cloud-native mage,' and the competitive map now looks less like a classic three-player real time strategy and more like a battle-royale with everyone dropping in, looking for compute loot", said Michael Ashley Schulman, partner at Running Point Capital Advisors. Oracle expects total revenue to be at least $67 billion for fiscal 2026, CEO Safra Catz said on a post-earnings call. The Texas-based company's cloud services quarterly revenue rose 14 per cent to $11.70 billion. Its overall revenue of $15.90 billion beat estimates of $15.59 least nine brokerages have raised their price target post-earnings. Oracle trades at a forward price-to-earnings ratio of 25.86, compared to rivals Microsoft at 31.34 and Amazon at 31.80, according to data compiled by LSEG. Microsoft's stock has gained 12.16 per cent, while Amazon's has decreased by 2.8 per cent so far this year.
CNA
an hour ago
- CNA
US$31 trillion in wealth extracted from Indonesia during Dutch colonial rule: President Prabowo
JAKARTA: US$31 trillion - that's the amount of wealth that Indonesian President Prabowo Subianto claimed the Netherlands had extracted from Indonesia during its colonial rule over the archipelago, as he used the historical context to justify increased investment in national defence. He added that the figure is nearly 18 times Indonesia's current gross domestic product (GDP) of US$1.5 trillion, or 'the equivalent of 144 years' of national budget spending. Prabowo had cited the figures in a speech at the opening of a defence exhibition in Jakarta on Wednesday (Jun 11). "According to a study published a few weeks ago, the Netherlands took resources from Indonesia valued at US$31 trillion in today's terms during their colonisation of our country," Prabowo said at the Indo Defence Expo and Forum, as reported by local news outlet Metro TV. He did not identify the study, its author or methodology, and there are no previous reports of similar calculations. Indonesia was under Dutch colonial rule for close to 350 years, from the 1600s till it declared independence in 1945. Command was exerted initially through the Dutch East India Company and later under formal state control by the Dutch East Indies. Prabowo also claimed that the Netherlands enjoyed the world's top GDP per capita while Indonesia was under Dutch colonial rule. 'If only we could protect our riches (from the Dutch back then), perhaps our GDP per capita could be among the world's largest,' he said as reported by local news site Jakarta Globe. Resources were extensively extracted from Indonesia during Dutch colonial rule, particularly spices like nutmeg, cloves and pepper. There were also schemes like the Cultivation System - known locally as 'forced planting' or 'tanam paksa' in Indonesian - that saw locals forced to grow export crops like coffee and sugarcane instead of food. The Cultivation System was implemented from 1830 to 1870. According to a study by British historian and economist Angus Maddison, contributions from Indonesia amounted to about 31.5 per cent of Dutch state coffers between 1851 and 1870. In his Wednesday speech, Prabowo highlighted this historical period for Indonesia to make the case for enhanced defence spending. "History shows that nations that fail to invest in their own defence often lose their autonomy and are vulnerable to subjugation. Those that don't defend themselves often become slave nations," he said as reported by Metro TV. The former general and defence minister, now president, has made no bones about his focus on modernising Indonesia's military. Prabowo has pledged to gradually elevate the country's defence budget to 1.5 per cent of GDP by 2029, effectively doubling current levels. Speaking at the Indo Defence Expo and Forum on Wednesday, Defence Minister Sjafrie Sjamsoeddin announced defence contracts worth up to 33 trillion rupiah (US$2.03 billion) would be signed during the exhibition, which runs till Saturday. He also highlighted that between 2020 and June 2025, a total of 792 contracts had been made with domestic defence industries, amounting to 230 trillion rupiah. Former colonial tensions between the Netherlands and Indonesia have been in the spotlight in recent years, with the Dutch making efforts to mend old wounds. Among them was the repatriation of hundreds of Indonesian artefacts, the bulk of which were looted by the Dutch during colonial rule. In the present day, the Netherlands and Indonesia are close trade and economic partners. The Netherlands is the European Union's largest investor in Indonesia, reaching close to 50 per cent of total European investments, according to media reports. The Dutch government has set aside a US$300 million investment to support various sustainable development projects in Indonesia, Anindya Bakrie, chairman of the Indonesian Chamber of Commerce and Industry, said on Tuesday. At the same time, 120 Dutch companies are scheduled to visit Indonesia for a trade and investment mission on Jun 16. The trip will cover several cities, including Jakarta, Medan, Semarang and Makassar, focusing on sectors such as food security, maritime, and water management, Jakarta Globe reported.
Independent Singapore
4 hours ago
- Independent Singapore
‘No one can beat you at being you': LinkedIn exec shares advice for young job seekers in the age of AI
As the job market rapidly evolves and artificial intelligence is rewriting the rules of work, Aneesh Raman, LinkedIn's Chief Economic Opportunity Officer, believes young professionals can still be optimistic. In a story published by the Business Insider, Raman shared his insights drawn from a career doing war reporting, political speechwriting, tech, and now shaping the future of work. In that interview, Raman offers valuable points of view that job seekers and those currently working can learn from. Tougher job market, but not a hopeless one According to a recent story published by Business Insider , current statistics depict a challenging picture for job hunters. The New York Federal Reserve revealed that the unemployment rate for new college graduates (ages 22–27) hit 5.8% in March, more than the national average of 4%. However, Raman sees this moment not just as an obstacle, but as a chance to reconsider how people must view career-building, that they must approach it and begin with a profound 'personal exercise.' Discovering your 'story of self' Raman suggests that entry-level workers start by creating what he dubs a 'story of self.' This is not a planned-out pitch for recruiters, but an account entrenched in one's distinct blend of abilities, experiences, and passions. 'The most important—and hardest—task for young workers is defining what makes them unique,' he says. 'It's about identifying the skills built through both lived and learned experience, and turning that into a compelling, confident narrative.' His path, which includes roles as a war journalist, a speechwriter for President Obama, and a tech leader, is anything but linear. Yet with these roles, a common strand surfaced – a flair for descriptive storytelling. It's that unswerving aptitude, not job titles, that eventually moulded his present role at LinkedIn. 'Your job might not make sense on paper, but your skillset can,' he says. 'That's how you build toward a job no one else can do better than you.' Make learning a daily habit—starting with AI Beyond defining one's story, Raman says young people must create a routine of learning every day, with AI mastery at the forefront. 'The tools are out there, but how are you using them in service of your goals? How are they helping you master the skills you want to build?' he asks. 'Over time, your curiosity will guide your learning—and that's what creates long-term value.' He believes that AI, notwithstanding existing disruptions, offers a huge advantage for young people in the workforce. Since businesses are still trying to figure out how to effectively implement and adapt to technology, this creates an opportunity for early-career professionals to proliferate and take on more purposeful work. A new age of career ownership Raman sees a future where individuals will have extraordinary autonomy over their careers, particularly if they advance non-technical 'human' capabilities such as communication, flexibility, and collaboration. 'The knowledge economy we've known is fading,' he clarifies. 'In its place, we're seeing a rise in the value of uniquely human capabilities. These are now the real hard skills.' Employers and educators must swing their focus accordingly, he added, with special concentration on AI knowledge and entrepreneurial outlooks. Naturally, not everyone will need to launch a startup, but every worker should espouse the attributes of an entrepreneur: inquisitiveness, flexibility, and imagination. See also Malaysia considers social media licence requirement for LinkedIn Embracing the challenge and the possibility While Raman admits that at present, getting into the workforce is exceptionally tough, he recommends that young people should not allow fear to take over. 'This is a different moment than any other generation has had,' he says. 'You have the tools to build a career on your terms. AI can help you grow, scale ideas, and learn faster than ever before.' The future of work, he believes, will be demarcated by people who can do what no one else can —be themselves. 'No one can beat you at being you,' he says. 'And that's the career you should build.'
