City Singapore Financial News

(Reuters) — The Monetary Authority of Singapore (MAS) plans to conduct an on-site inspection of a local unit of Credit Suisse to determine whether it properly handled the monitoring of wealthy clients after at least one of its customers was charged with money laundering, Bloomberg News reported on Wednesday.

Sygnum Singapore's announcement on 3rd October 2023 concerning its acquisition of a Major Payment Institution Licence (MPIL) from the Monetary Authority of Singapore (MAS) echoes a burgeoning narrative of regulatory evolution in the city-state's digital asset sector. This development not only broadens Sygnum Singapore's service suite but also augments the city-state's stance as a burgeoning hub for digital asset enterprises.

Ripple's Singapore subsidiary, Ripple Markets APAC Pte Ltd, has successfully secured its MPI license for digital payment tokens (DPTs) from the <dfn data-info=«The Monetary Authority of Singapore (MAS) is Singapore» s central bank. the mission of mas is to promote sustained non-inflationary>MAS. The license comes on the heels of the regulatory body's in-principle approval of Ripple's application in June 2023. Singapore has been a pioneer in establishing a robust regulatory framework for DPTs through its Payment Services Act. This license enables Ripple to continue offering regulated digital payment token services in Singapore, a market that has been pivotal for the company's global operations.

Crypto projects and investors are turning to Asia in search of growth opportunities amid increasing regulatory scrutiny in the United States.

South Korea's leading cryptocurrency exchange Upbit by volume has secured in-principle approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). 

The Singapore entity for Upbit, South Korea’s largest exchange by volume, has been given in-principal approval for a Major Payment Institution (MPI) license in Singapore.

alleging corporate malfeasance — charges the Adani Group has denied. With a dominance that already spans ports, mines, airports and power utilities, Vizhinjam will further cement the billionaire’s status as India’s infrastructure king. Also Read: Adani Ports share price rises 3% as brokerages expect up to 28% upside potential The proximity to the international shipping routes that accounts for 30 percent of global cargo traffic and a natural channel that goes up to 24 meters below the sea makes Vizhinjam an ideal hub for some of the world’s biggest ships to call in.

Zhen Hua 15 — a heavy load cargo carrier sailing from the East China sea — unloads at Vizhinjam port this Sunday, it’ll do more than just set down the site’s first gigantic cranes. It’ll also put India on the map for world’s biggest container ships. Located near the southernmost tip of the country, the Vizhinjam transshipment container port — the first of its kind in India that will be inaugurated on Oct.

WASHINGTON (Reuters) — Singapore's deputy prime minister said on Friday he hopes for substantial progress in the U.S.-led Indo-Pacific Economic Framework for Prosperity (IPEF) discussions in time for next month's Asia Pacific Economic Cooperation (APEC) summit.

"Partnering with a leading education provider like MDI is not only a step-forward for LIBF India but will also act as a transformative opportunity for students and professionals in India. We commit to imparting best practices among students and professionals in the banking and finance domain, preparing them to excel in the ever-evolving global financial landscape" says Sumit Mehta, Director, LIBF India.

By Xinghui Kok

to safeguard the charged assets" of Great Learning Education Pte. Ltd. and Byju’s Pte.

Investing.com — Crude prices fell for a third day in a row as trading began in Asia Thursday, responding to a report by industry group API that the largest weekly crude stockpile build in eight months may have taken place in the United States last week.

Indonesia is in discussions with Australia about a possible joint bid to host the 2034 World Cup along with Malaysia and Singapore, the president of the country's football federation (PSSI) said on Wednesday. World football's governing body FIFA invited member associations from Asia and Oceania to bid for the rights to the 2034 edition last week. «We are discussing (a bid) with Australia,» PSSI President Erick Thohir was quoted as saying by the Sydney Morning Herald. «When I visited Malaysia and Singapore both countries expressed interest to join Indonesia and Australia.» When asked for comment on a possible joint bid, Football Australia referred Reuters to a statement last week that said it was «exploring the possibility of bidding for the 2029 FIFA Club World Cup and/or the FIFA World Cup 2034». The PSSI has not responded to a Reuters request for comment. After announcing Spain, Morocco and Portugal would host the 2030 World Cup, with Uruguay, Paraguay and Argentina staging the opening games, FIFA invited Asia and Oceania to bid for 2034. Saudi Arabia quickly announced its intention to bid for the hosting rights and FIFA have set a deadline of Oct. 31 for other interested parties to make their intentions known. With Qatar having hosted the 2022 edition, Thohir said it might be too soon for the World Cup to return to the Middle East. «We are quite strong,» he said.

GVK Coal Developers (Singapore) Pte Ltd and associated companies opened in the High Court here on Tuesday. Judge Dame Clare Moulder presided over the hearing at the Commercial Court division to hear the case brought by Bank of Baroda (acting by its Ras Al Khaimah branch), Bank of India (London branch), Canara Bank (London branch), ICICI Bank Ltd (acting by its Bahrain, Dubai and Off-Shore Banking branches), Indian Overseas Bank (Corporate Branch, India) and Axis Bank Ltd.

Shoogloo Group launches its new venture Broadband.asia in India, Singapore, UAE, Saudi Arabia, Kuwait, Bahrain, and Qatar. Broadband.asia, a one-of-a-kind online comparison website, is designed to filter, select, and compare broadband plans based on users’ preferences. By personalizing broadband plans, Broadband.asia helps consumers meet their internet demands. Users can now search for plans available in their area, decide on the price range and features to find an internet plan that meets all their needs.

Multibagger stock: Balu Forge Industries shares are one of those small-cap stocks on Dalal Street that has delivered stellar return to its shareholders in recent times. This BSE listed stock has surged from around ₹66.50 to ₹220 apiece levels, delivering 250 per cent return to its shareholders.

Coinbase's recent approval by Singapore's Monetary Authority signals the city-state's growing embrace of cryptocurrency. As Bitcoin (BTC) continues its bullish trend, backed by Marathon Digital's robust production, the rising star VC Spectra (SPCT) steals the limelight. Let’s explore what's happening in the crypto industry and learn more about this cryptocurrency for beginners.

FTA journey can be divided into three distinct phases. 1975-2004: In this phase, the focus was on reducing tariffs to promote merchandise trade. India embarked on its FTA journey in 1975 by signing the Bangkok Agreement with Bangladesh, Sri Lanka, and S Korea.

The Monetary Authority of Singapore authorized Coinbase to offer institutional and individual crypto payment services one year after receiving an in-principle approval. With 32% of Singaporeans owning crypto, the Coinbase license may boost the uptake and price of the best cryptocurrencies, such as Ethereum (ETH) and VC Spectra (SPCT).

Shipping firms, formerly based in Dubai or Singapore, have established subsidiaries in the GIFT City-headquartered IFSC, which has received as many as eight applications for ship leasing activities, a senior official said on Friday. He also said that the International Financial Services Centre (IFSC) provides a conducive business environment, a competitive tax regime and effective dispute resolution.