City Singapore Financial News

Dealmakers from Singapore’s Temasek appear to be accelerating hopes to offload the 40 per cent of gas and electricity distribution giant Jemena, meeting with prospective buyers this week, sources told Street Talk.

NEW DELHI : India may allow exports of another 50,000 tonnes of non-basmati white rice to Singapore under humanitarian operations, making an exception for one of its key diplomatic partners, two government officials said. India recently permitted limited exports of the rice variety, which is currently under the prohibited category, to the UAE and last month to Bhutan, Mauritius and Singapore. These countries appealed to New Delhi to resume rice exports following India’s decision to suspend non-basmati shipments on 20 July to keep prices in check.

A court hearing in Perth has cleared the way for Chris Ellison’s Mineral Resources to acquire the Bald Hill lithium mine from administrators as part of consolidation in the sector in Western Australia.

Hangzhou: The Indian women's hockey team started off their Asian Games 2023 campaign with a win over Singapore by 13-0 in their Pool A match on Wednesday. The seventh-ranked India has started off their campaign with a victory that saw them dominate Singapore, the world's 34-ranked side for the entire game.

This is part of a series of interviews with the winners of The Economic Times Startup Awards 2023. Petcare brand Heads Up for Tails (HUFT) is looking to chart newer domains of growth and plans to take its private-label portfolio across nutrition, grooming and lifestyle products to the global market in 2024, its founder Rashi Narang told ET. The company, which started in 2008 and is backed by the likes of Peak XV Partners and Verlinvest, is also looking to double down on its offline presence and launch new stores in tier 2 and tier 3 cities.

Singapore Airlines on Tuesday said it aims to complete the merger of Vistara with Air India «as soon as possible» subject to remaining approvals from relevant authorities. Once the proposed merger, which was approved by the Competition Commission of India (CCI) on September 1, is complete, Singapore Airlines will have a 25.1 per cent stake in Air India.

By Yantoultra Ngui

Strides Pharma Science's Singapore-based wholly-owned step-down subsidiary Strides Softgels Pte on Monday announced that it will acquire its CDMO business and Soft Gelatin business from its other wholly-owned subsidiary Strides Pharma Global Pte (SPG). The announcement was made by the company ahead of the market closing. The stock settled at Rs 536 on the NSE, up Rs 37, or 7% over Friday's closing price.

Stablecoin issuer Tether has reportedly changed its terms of service (ToS) in Singapore. An email shared by the CEO of decentralized finance protocol Cake DeFi on Sept. 25 shows changes to the company’s ToS prohibiting certain customer bases from redeeming Tether (USDT).

Virgin Australia says the federal government’s “hard to understand” decision not to allow Qatar Airways to fly more services into Australia has undermined its ability to compete with Qantas.

Vedanta Resources' (VRL) bond restructuring plan has met with some resistance from investors seeking better terms. The proposed plan suggests making a 50% upfront payment for the $1 billion January 2024 bond, a 15% payment for the August 2024 bond, and a 10% upfront payment for the March 2025 bonds, with the remaining amounts to be restructured. However, VRL needs the approval of at least two-thirds of the bondholders for this plan to proceed. Initial feedback from investors in Singapore and Hong Kong reveals discomfort with the proposed restructuring, raising the possibility of opposition from a group of bond investors, two bondholder sources said. «A group of bondholders could oppose the proposed restructuring, setting the stage for a potential showdown,» a source said.

The Miss Universe Organization has denied any association with the Miss Universe Coin project announced at the Philippine Blockchain Week (PBW) event held earlier this month. PBW said that they are in contact with all involved parties and will post an update soon.

Chief Justice of India DY Chandrachud on Saturday said it was «utopian» to think that there could ever be a day when the «delivery of justice» will not be challenged. Addressing the inauguration of the International Lawyers' Conference 2023 in the national capital on Saturday, the CJI also underlined the «pivotal role» played by India in raising Supreme Court buildings in Mauritius and Bhutan. The CJI, however, said it is realistic to aspire to a world where nations, institutions and, most importantly, individuals are open to engaging with each other. «Each one of us has volumes to learn from different jurisdictions, perspectives, and most importantly each other..,» CJI Justice Chandrachud said at the inauguration of the International Lawyer's Conference on Saturday. Inaugurated by Prime Minister Narendra Modi at Vigyan Bhawan on Saturday, the inauguration was also attended by Union Law Minister Arjun Ram Meghwal. He said the programme will witness the participation of distinguished judges, legal professionals, and leaders of the global legal fraternity over the next two days. «It is utopian to think that there will be a day when we will find perfect solutions and no challenge to justice delivery.

The company allotted 10,58,82,352 shares to anchor investors at Rs 119 apiece. About 11 mutual funds participated in the pre-IPO placement through a total of 28 schemes. SBI Mutual Fund, ICICI Prudential MF, HDFC Mutual Fund, Nippon India MF, Aditya Birla Sun Life MF, Sundaram MF, Franklin Templeton, UTI MF, Tata AMC, and Baroda BNP Paribas MF are the mutual funds that participated in the anchor placement of shares. Among foreign portfolio investors, the Government of Singapore was allotted 5.6% of the total anchor placement. The Monetary Authority of Singapore received around 1% of the total placement. Morgan Stanley was allotted 3.5% of the total anchor placement, while Goldman Sachs got 0.4% of the total size. Besides these, Sunil Singhania-owned Abakkus Investment was allotted around 2% of the anchor portion. The Rs 2,800-crore IPO will open for subscription on Monday and close on Wednesday.

Singapore police say they have uncovered more luxury watches, gold bars and other assets from a massive money laundering scheme that was busted last month, bringing the total amount of assets seized or frozen to $1.75 billion

Candlelight Concerts to India, kicking off with performances in tribute to Taylor Swift’s greatest hits, Vivaldi’s Four Seasons, British bands Queen and Coldplay, as well as the Japanese composer Joe Hisaishi. The expansion into the region comes on the heels of the experience’s success, having delighted audiences in more than 150 cities worldwide, including New York, London, Madrid, Singapore and Tokyo.Audiences who would like to be the first to know about the local venues and music programs kicking off the series can sign up on each city’s page at feverup.com.

In the world of trading, if you're good enough, your employer will do whatever it takes to keep you. Sometimes 'whatever it takes' is funding one of the most expensive hobbies someone in finance is likely to have, Formula 4 racing. This is the case with Vivian Siu of UBS, who has tackled two male dominated industries with mixed levels of success.

Zodia Custody, a Standard Chartered Bank-owned crypto entity, is bringing yield on digital assets to institutional clients in partnership with Singapore-based digital asset platform developer, OpenEden.

The interim judicial managers of embattled crypto lender Hodlnaut have opposed the takeover terms from OPNX, a digital asset exchange associated with the founders of failed hedge fund Three Arrows Capital.

Singapore’s Changi Airport without a passport, as part of changes to the city-state’s immigration law that allows for end-to-end biometric clearance. From the first half of 2024, biometrics will be used for authentication at various automated steps in the departure process, from bag-drop to immigration and boarding, communications minister Josephine Teo said in parliament Monday. “This will reduce the need for passengers to repeatedly present their travel documents at these touchpoints, allowing for more seamless and convenient processing,” Teo said. The changes come as the number of travelers to the financial hub is expected to rebound to pre-pandemic levels by next year, and continue to increase thereafter. Singapore is currently building its fifth airport terminal, while its high-speed rail linkage with Malaysia’s southern state of Johor is expected to be ready in a few years. “Our immigration systems must be able to manage this high and growing volume of travelers efficiently and provide a positive clearance experience, while ensuring our security,” Teo said. Ranked the best airport in the world, Changi handled 5.12 million passengers in June, crossing the five million mark for the first time since January 2020 when the pandemic hit.

(Reuters) — Chinese electric vehicle frontrunner BYD (SZ:002594) has taken an early lead in Southeast Asia's small but fast-growing EV market, partly on the back of distribution partnerships with large, local conglomerates.