City Singapore Financial News
03.06 / 08:40
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Air India to operate as merged entity from 2025; no Vistara brand by year end
Mint on the sidelines of the annual general meeting of the International Air Transport Association, a global airline body. On receiving the nod from NCLT, the airline hopes to take another 4-5 months to merge the air operator certificate of AIX Connect with Air India Express. The Tatas acquired both Air India and its subsidiary Air India Express in January 2022.
02.06 / 11:03
Aviat
Williams
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Turbulence troubles? Expert tips on what to expect and how to stay safe
turbulence on flights: eyes squeezed shut, hands clamped to the armrests for dear life, bracing for the roller coaster to come.
02.06 / 07:45
Cooper
security
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Relationships
China’s defense chief turns down temperature on tensions with US
SINGAPORE—China’s defense minister sought to assuage fears of confrontation between the Chinese and American militaries a day after the U.S. defense chief did the same, part of an effort to manage tensions between the two global powers in a turbulent environment. He also warned Washington against testing Beijing’s limits on its core interests, in a sign of how delicate and tentative the rapprochement remains.
02.06 / 05:01
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security
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Updates
peace
Zelenskiy meets heads of state in Singapore, seeks support for security summit
Zelenskiy met heads of state and legislators in Singapore late on Saturday and early on Sunday, seeking security assistance and support for a peace summit after arriving for a surprise visit to the Shangri-La Dialogue.
01.06 / 02:07
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security
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US Defense Secretary Lloyd Austin says US 'can be secure only if Asia is'
Singapore: US Defense Secretary Lloyd Austin said Saturday the Indo-Pacific region remained a «priority» for Washington, saying the United States was secure «only if Asia is». Lloyd made the remarks at a major security forum in Singapore, a day after he met with his Chinese counterpart Dong Jun. «The United States can be secure only if Asia is and that's why the United States has long maintained its presence in this region,» Austin told the Shangri-La Dialogue, which in recent years has become a barometer for US-China relations.
31.05 / 17:57
Bitcoin
bitcoin etfs
RFK Jr. Says He Owns 21 Bitcoins, Talks Deep Commitment To Crypto
Robert F. Kennedy Jr. (RFK Jr.) says he bought 21 bitcoins for his children after winning a $13 billion case against biotech giant Monsanto, the crypto-friendly U.S. presidential candidate told a crowd at Consensus 2024 in Austin, TX this week.
30.05 / 13:07
Blockchain
Ethereum
ETH
reports
DBS Emerges as Major Ethereum Investor with $650M in ETH: Nansen
DBS, Singapore’s largest bank, has been identified as a major holder of Ether (ETH), according to on-chain analytics firm Nansen.
29.05 / 20:13
Aviat
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hospital
reports
Investigations
Singapore Airlines jet endured huge swings in gravitational force during turbulence, report says
A preliminary investigation says the Singapore Airlines plane that ran into turbulence last week went through huge changes in gravitational force, leaving one passenger dead and many others injured
29.05 / 16:31
COST
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wellness
country
reports
Tata Steel to invest $2.11 bn in Singapore unit to repay overseas debt, fund UK transition
NEW DELHI:Tata Steel Ltd will invest ₹17,408 crore ($2.11 billion) in its Singapore unit, T Steel Holdings Pte Ltd, to fund the restructuring of its struggling UK business as well as repay the debt of its offshore entities.Tata Steel will also be writing off $565 million of existing debt to T Steel, converting it into equity shares, Asia’s oldest steelmaker said in regulatory disclosures on Wednesday. The investment in T Steel, a holding company for the shares of Tata Steel’s overseas subsidiaries, will be done over the course of 2024-25.Tata Steel reported a 65% year-on-year decline in its consolidated profit, to ₹554 crore, for the quarter ended 31 March, missing Street estimates.
29.05 / 11:45
Reuters
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Singapore Airlines flight that hit deadly turbulence fell 178 feet in 4.6 seconds
A Singapore Airlines flight makes an emergency landing after reported extreme turbulence and one passenger dead. (Credit: Viral Press)
29.05 / 00:49
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Timken promoter sells Rs 1,956-crore stake
Timken Singapore PTE sold shares of Timken India worth 1,956 crore in a block deal on BSE on Tuesday. The promoter sold 50 lakh shares at 3,913.35 apiece. Timken Singapore PTE owned 57.70% stake in the company as of March 31.
27.05 / 14:45
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Timken Singapore looking to divest 6.6% stake in Timken India for ₹1,775 crore
₹1,775 crore, as per a term sheet obtained by Mint.The promoters are offering to sell up to 5 million shares, with a total deal value estimated to be around ₹1,775 crore ($213 million). The shares are being offered at a floor price of ₹3,550 per share, representing a discount of 10.2% compared to Timken India's closing price of ₹3,951.5 on the NSE on Monday.Spokespersons of Bank of America, which is managing the stake sale, did not respond to Mint's request for comment.Currently, Timken Singapore holds a 57.7% stake in Timken India, which manufactures anti-friction bearings, primarily tapered roller bearings, and mechanical power transmission products for customers in diverse sectors.This is not the first time that Timken India's promoters are exploring a stake sale.
26.05 / 09:25
Gap
Trade
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country
India in trade deficit with nine of top 10 trading partners in 2023-24
India has recorded a trade deficit, the difference between imports and exports, with nine of its top 10 trading partners, including China, Russia, Singapore, and Korea, in 2023-24, according to official data. The data also showed that the deficit with China, Russia, Korea, and Hong Kong increased in the last fiscal compared to 2022-23, while the trade gap with the UAE, Saudi Arabia, Russia, Indonesia, and Iraq narrowed. The trade deficit with China rose to USD 85 billion, Russia to USD 57.2 billion, Korea to USD 14.71 billion and Hong Kong to USD 12.2 billion in 2023-24 against USD 83.2 billion, USD 43 billion, USD 14.57 billion and USD 8.38 billion, respectively, in 2022-23. China has emerged as India's largest trading partner with USD 118.4 billion of two-way commerce in 2023-24, edging past the US.
26.05 / 09:25
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BWF
badminton
Sindhu signs off with runner-up finish at Malaysia Masters
PV Sindhu's wait for a much-needed title extended further as she faltered in the finishing line, going down in three games to world no. 7 Wang Zhi Yi of China in the summit clash on Sunday. Fifth seed Sindhu, a double Olympic medallist, last won the Singapore Open and Commonwealth Games in 2022 and finished runner-up at the Madrid Spain Masters in 2023. The title here looked within her reach when world no. 15 Sindhu held a massive 11-3 lead in the decider after winning the opening game but the former world champion imploded after the final change of sides to go down 21-16 5-21 16-21 in a 79-minute women's singles final. The title would have been an icing on the cake but her impressive run to the final will still give her a lot of confidence as Sindhu looks to put the finishing touches ahead of the Paris Olympics. It was her first final on BWF world tour after more than a year.
26.05 / 09:13
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Venturi Partners looks at launching India-focused fund for family offices
private-equity firm Venturi Partners is considering raising a $75-100 million fund in India to invest in local consumer-focused growth-stage companies, managing director Rishika Chandan said in an interview. The fund, likely to be launched later this year, will be pooled from top family offices in India, Chandan added.“The intention is to give access to Indian families that want to be part of this platform and get access to growth-stage consumer companies because most funds in India [invest mainly in] early-stage [companies]," Chandan said.According to her, there are several India-focused generalist funds investing in growth-stage consumer companies but not many that cater exclusively to families.
25.05 / 07:41
Waves
Target
Progressive
pandemic
Refugees
reports
COVID-19 effect: Global healthy life expectancy drops back to 2012 level, says WHO
COVID-19 pandemic has erased almost ten years of advancements in enhancing life expectancy in just two years.In an official statement, WHO said, “From 2019 to 2021, the global life expectancy declined by 1.8 years to reach 71.4 years, returning to the level seen in 2012. Similarly, the global healthy life expectancy decreased by 1.5 years to 61.9 years in 2021, also reverting to the level observed in 2012."Also Read: India sees 324 cases of KP.1, KP.2 variant driving Covid-19 in Singapore, Maharashtra tops with 148The 2024 report also underscored the unequal impact felt across the globe.
24.05 / 21:45
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guidelines
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Singapore Airlines tragedy: Will it change seatbelt rules? Airlines to review many guidelines
Singapore International Airlines Flight from London to Singapore, the airline has tightened certain rules dealing with turbulences. The incident which left one British citizen dead and more than 100 passengers injured in different states had prompted a safety review by the airline and other major airlines across the world.
24.05 / 16:47
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security
hospital
Investigations
Singapore Airlines tightens cabin safety measures after turbulence killed one
Singapore Airlines says it will halt meal services and get all cabin crew to buckle up when planes fly through turbulence as part of tighter cabin measures after one person died and dozens were injured on a flight from London this week
24.05 / 14:03
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Fastenal
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Passengers had seconds to react as turbulence hit Singapore flight
Singapore Airlines flight hit by deadly turbulence this week said on Friday they had only seconds to react before the plane started to plunge. One passenger died and more than 100 were injured when the Boeing 777-300ER fell 1,800 metres (6,000 feet) in just a few minutes during the final hours of its journey from London to Singapore on Tuesday.
24.05 / 04:37
Reuters
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reports
Updates
Singapore Airlines turbulence: SIA changes in-flight safety protocols, modifies route | Top 8 updates
Reuters reported on Friday.In a statement to Singapore broadcaster Channel News Asia, the airline said it will now refrain from serving hot drinks or meals when the seatbelt sign is on.The SQ321 London-Singapore flight on a Boeing 777-300ER plane carrying 211 passengers and 18 crew diverted to Bangkok for an emergency landing on Tuesday after the plane was buffeted by turbulence that flung passengers and crew around the cabin, slamming some into the ceiling, the Reuters report added.Flight SQ321 has since modified its route, avoiding the area of turbulence encountered during the incident.Here are the top eight updates from the Singapore Airlines turbulence incident: Milestone Alert! Livemint tops charts as the fastest growing news website in the world
23.05 / 16:27
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Several Singapore Airlines' flight passengers, hit by turbulence, need spinal surgery: Report
AP reported Bangkok's Samitivej Srinakarin Hospital as saying.According to the report, 27 people remained in intensive care, and a 73-year-old British man died after the flight ran into bad turbulence over the Andaman Sea. This led to hurling items and passengers and crew members around the cabin.The hospital's public relations officer stated that other local hospitals have been asked to lend their best specialists to assist in the treatments.
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