City Singapore Financial News

Leading Swiss asset management bank UBS has announced the debut of its first live pilot of a tokenized Variable Capital Company (VCC) fund on the Ethereum blockchain in Singapore. 

Cryptocurrency trading firm and liquidity provider GSR's Singaporean subsidiary, GSR Markets Pte. Ltd, has received an in-principal approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license. 

Singapore's Vertex Technology Acquisition Corp (VTAC) will buy live streaming platform 17LIVE Inc for up to S$925.1 million ($676 million), the special purpose acquisition company (SPAC) backed by state investor Temasek said on Monday. The deal is the first purchase of a private company by a SPAC listed in the city-state since 2021 when the Singapore Exchange allowed SPACs, or shell firms, to float shares in a bid to position itself as a hub for this type of vehicle in Asia.

Leading Swiss bank UBS has launched a live pilot of a tokenized version of its variable capital company (VCC) fund as part of Project Guardian, an initiative led by Singapore’s central bank. 

Singapore, Australia, France, and Sweden are witnessing an increasing volume of score reports from Indian TOEFL test takers and emerging as new destinations of interest, according to the Educational Testing Service (ETS). The top two destinations for TOEFL test takers in India since 2017 have been the United States and Canada. Till 2019, Germany was at the third spot and the UK at the fourth spot. However, from 2020 onwards, the two countries have switched positions. «While the top five countries chosen by Indian TOEFL test takers have remained nearly consistent over the last 5-6 years. Apart from the top destination countries, emerging countries for Indian test takers include Singapore, Australia, France, and Sweden. These countries have seen an increasing volume of score reports from Indian test takers,» Sachin Jain, the Country Manager of ETS India and South Asia, told PTI. The Princeton-based ETS, which conducts the Test of English as a Foreign Language (TOEFL) and Graduate Record Examination (GRE), said the trend reflects shifting aspirations of people.

United States-based cryptocurrency exchange Coinbase is expanding operations in Singapore after securing major regulatory approval from the country’s central bank.

Crypto exchange Coinbase has secured a full major payment institution (MPI) license under Singapore's Payment Services Act.

Recharge Capital, a prominent $6B thematic-first private investment firm, has announced the appointment of Margaret Wang, previously the Executive Director and Head of Bridgewater Associates Singapore, as its new Managing Partner. Wang's primary focus will be on leading the Women’s Health Strategy and overseeing the firm's operations in the APAC region from its Singapore office.

Su Zhu the founder of bankrupt crypto hedge fund, Three Arrows Capital has been arrested in Singapore while embarking on an attempt to flee according to reports.

Three Arrows Capital co-founder Su Zhu was apprehended in Singapore while trying to leave the country on Friday.

New Delhi: Tata Group-owned Air India is expected to consolidate its presence and increase efficiency across 100-plus routes, or over 50 origin-destination pairs, to fully utilize the group’s network of four airlines. According to Competition Commission of India’s assessment on deployment of both air traffic and seat capacity for 2022-2023, Air India and Vistara has shared presence in 48 origin-destination pairs, or on 96 routes.

The co-founder of Three Arrows Capital (3AC), Su Zhu, was arrested in Singapore when attempting to leave the country, Cointelegraph has learned from Teneo, the joint liquidator of the bankrupt hedge fund. 

TiE Global Summit (TGS) 2023, the flagship event of TiE Global, is set to bring together visionaries, industry leaders, investors, and entrepreneurs from across the globe. This is the 8th annual edition of the event. This premier entrepreneurial event is scheduled to take place from 15 – 17 November 2023 at Singapore Expo and Marina Bay Sands hotel.

PMO) in the annual Population in Brief report by the National Population and Talent Division. «The total population of 5.92 million as of June 2023 is the highest recorded figure in Singapore's history,» the PMO said. The population rebounded from declines during the COVID-19 pandemic and has since exceeded the 2019 population of 5.7 million.

Project Mariana was developed jointly by three BIS Innovation Hub centres in Switzerland, Singapore and Europe, together with Bank of France, Monetary Authority of Singapore and Swiss National Bank.The project's proof of concept successfully tested the cross-border trading and settlement of hypothetical euro, Singapore dollar and Swiss franc wCBDCs between simulated financial institutions. The DeFi element was provided by an Automated Market Maker, which is a specific type of decentralised exchange to trade and settle spot FX transactions automatically.While not endorsing the use of DeFi, the BIS says these protocols could be used by the next generation of financial market infrastructures facilitating cross-border trading and settlement between financial institutions."As tokenisation and DeFi technologies are still nascent, further research and experimentation is needed," emphasizes the BIS.

The Bank for International Settlements (BIS) and the central banks of France, Singapore and Switzerland concluded a joint test of the cross-border trading and settlement of wholesale central bank digital currencies (CBDCs). Banque de France issued the report on Sept. 28. 

LONDON (Reuters) — New York has easily remained the world's top financial centre with London still second and gaining some ground, but also facing a tougher fight with Singapore and Hong Kong, the Global Financial Centres index showed on Thursday.

SINGAPORE (Reuters) — Singapore state investment firm Temasek's wholly owned unit True Light Capital said on Thursday it raised $3.3 billion in its flagship fund that invests in Greater China and has now closed it to new capital.

SINGAPORE (Reuters) — Singapore's finance ministry on Thursday announced an additional S$1.1 billion ($801.98 million) to help households handle increases in the cost of living.

Mayuresh Joshi, Head-Equity Research, India, William O'Neil, says “the commentary surrounding order wins by IT companies remains extremely strong because the targeted bucketed list that they probably have between a million dollars to five million and to ten million for midcap IT companies those order wins and those transformational deals when it comes to AI and the associated space is there itself still continues at a rapid and a very good pace. The other space, ER&D, where a lot of companies like a KPIT, Tata Elxsi, Sonata have done well and continue to do well.” Is a move on Reliance sustainable and are there enough fundamental triggers in place? Singapore GRMs have come off in the last few weeks and therefore the refining segment for the better part of the second quarter and the third quarter, will stay at these levels and can be under some sort of pressure. But we all know that Reliance has access to multiple feedstocks and even if Singapore GRMs have corrected to around $6.5, an outperformance of $2 to $3 to say the least can be expected from Reliance.

The urgency for Southeast Asian nations to switch to clean energy to combat climate change is breathing new life into a 20-year-old plan for the region to share power