City Singapore Financial News

The Sun Cable solar export venture will this month apply for a licence in Singapore to import energy as it pushes ahead with the project after the completion of the sale on Thursday to billionaire businessman Mike Cannon-Brookes’ Grok Ventures.

bronze medal finish at the Asian Table Tennis Championships 2023 after falling short in their semi-final clash against Chinese Taipei in Pyeongchang, the Republic of Korea, on Wednesday. The Indian men's table tennis team comprising a mix of experienced as well as youth talent of Sharath Kamal, Harmeet Desai and Sathiyan Gnanasekaran lost 0-3 in the final four. The two losing semi-finalists are awarded bronze medals at the competition.

Singapore has emerged as the most preferred destination for crypto millionaires seeking secure and tax-friendly havens to protect their digital assets, according to the recently released Crypto Adoption Index by Henley & Partners. 

By Ankur Banerjee

By Renju Jose, Lewis Jackson and Emily Chow

Stock in focus: Balu Forge shares are one of the multibagger stocks that Indian stock market has delivered in 2023. In year-to-date (YTD) time, this multibagger stock has surged from around ₹66.50 apiece levels to ₹228.70 apiece levels, delivering over 225 per cent return in YTT time. However, some big institutional investors still see upside in the stock.

Singapore's newly elected president, Tharman Shanmugaratnam, had once called crypto “inherently purely speculative and slightly crazy”. 

Tharman Shanmugaratnam, former chair of the Monetary Authority of Singapore, has won the election for the city-state’s presidency with more than 70% of the vote.

economic development. Ultimately, India aims to emulate China's success in moving a substantial portion of its population from lower-income status to the middle-income bracket. Also Read: Indian-origin Tharman Shanmugaratnam wins Singapore's presidential election In essence, Tharman Shanmugaratnam pointed out that India's approach to its economy has been characterized by excessive government intervention and inadequate investment in social and human development.

Tata Sons Pvt. Ltd acquiring some shares in the merged entity Air India subject to compliance of voluntary commitments offered by the parties. The transaction also involves acquisition of additional shares in the merged entity by Singapore Airlines in a preferential allotment.

Singapore's President-elect Tharman Shanmugaratnam on Saturday said he was surprised by «such a high degree of endorsement», and that he was very serious about wanting to fulfil the mandate given by the people. Singapore-born Indian-origin candidate in a predominantly Chinese multi-racial Singapore, 66-year-old Tharman won the presidential election with a massive vote share of 70.4% in the early hours of Saturday. This is the first contested presidential election since 2011. Speaking to journalists at his first doorstop interview since the official result was declared, Tharman said, «I did not expect such a high degree of endorsement, which also means there was a fair number of people who would normally not vote in favour of the ruling party, who decided that this was not a political election, this is not a General Election.

Saudi Arabia’s on-again, off-again plans to list more shares of Aramco, the world’s most valuable oil company, appear to be on again. The kingdom is considering selling a stake of as much as $50 billion, people familiar with the potential deal said, an amount that would be the largest offering in the history of capital markets. After monthslong consultations with advisers, the kingdom has decided to host any new Aramco offering on the Riyadh exchange to avoid legal risks associated with an international listing, according to Saudi officials and other people familiar with the plan.

On Friday, the Competition Commission granted its approval for the proposed merger between Air India and Vistara, subject to specific conditions. This development represents a significant stride for the Tata Group as it solidifies its position in the aviation industry.

Tata Singapore Airlines Limited (SIA) Airlines with Air India on Friday, September 1, according to a post by the antitrust body on social media platform X. The regulator added that the acquisition of certain shareholding by Singapore Airlines in Air India subject to compliance of voluntary commitments offered by the parties.

Google Doodle on Friday celebrated Singapore's first presidential elections in over a decade with a special illustration. The elections to the largely ceremonious position are being viewed as a show of support for the ruling People’s Action Party (PAP) amidst a rising cost of living crisis and rare political scandals. The incumbent, Halimah Yacob, ran unopposed for her six-year term in 2017, but the election to replace her is a three-way contest between former deputy prime minister and finance minister in the PAP government, Tharman Shanmugaratnam, and two political outsiders.

Sea Ltd. is bringing back one of its top mobile games in India a year and a half after it was banned, a boon for the internet company’s effort to revive its growth. Now called Free Fire India, the game will be available Sept.

Top local and international banks in Singapore have found themselves entangled in one of the city-state’s biggest money-laundering scandals, encompassing over $740 million. 

HPCL/IOL: Minister of Petroleum and Natural Gas, Hardeep Singh Puri stated on 30 August that the government would bear the cost of the promised ₹200 price decrease on household cooking gas cylinders, relieving the oil marketing companies of the impending loss of ₹7,500 crore. As a gift for the women in advance of Raksha Bandhan, the Union Cabinet on Tuesday lowered by 200 rupees the price of a 14.2 kilogramme LPG cooking gas cylinder. The decision was made as criticism of the Centre for its handling of rising inflation has grown.

Qantas, Jetstar and Virgin took advantage of smaller rivals and overseas carriers relinquishing their landing slots at Australia’s largest airport during the pandemic, soaking up more than 500 new slots at Sydney Airport compared to 2019, according to previously unreported data.

Singapore are becoming embroiled in one of the city-state's largest money laundering cases involving over S$1 billion ($740 million) of assets. In charge sheets seen by Bloomberg News, some of the individuals who were arrested and charged this month held funds totally millions from unlicensed moneylending in China and illegal gambling in United Overseas Bank Ltd. and the local units of Citigroup Inc. and RHB Bank Bhd.

NEW DELHI : India on Wednesday permitted exports of limited quantities of non-basmati white rice to Bhutan, Mauritius and Singapore, according to a notification by Directorate General of Foreign Trade. Bhutan will get 79,000 tonnes, Mauritius 14,000 tonnes and Singapore 50,000 tonnes, even as the export ban imposed on 20 July remains in place. The export will be done through National Cooperative Exports Ltd, a government export body which was set up under the Multi-State Cooperative Societies (MSCS) Act, 2002 to export agriculture produce and allied items.