City Singapore Financial News

investment bankers in India as the US advisory firm looks to beef up its operations in the world’s most populous nation, people familiar with the matter told Bloomberg. As per the report, the firm is looking to add bankers in ranging from associate to managing director in order to expand its team in India to about 25 people. These new positions will focus on sectors such as infrastructure and industrials, said the people to Bloomberg, who asked not to be identified as the information is private.

Airport on Monday announced on Saturday that all the scheduled international flights from the airport will leave from Terminal 2 from August 31 onwards. In a post on social media platform X, Bengaluru Airport noted, “We are happy to announce that commencing 10:45 am on August 31, 2023, all scheduled International flights will arrive and depart from Terminal 2." Bengaluru Airport noted in the tweet noted that passengers can download the BLR Pulse app for information related flights and estimated queues and wait times.

The Monetary Authority of Singapore (MAS) has granted a Major Payment Institution License (MPI) to the popular cryptocurrency exchange Blockchain.com. With this license, the platform will be able to provide digital payment token services to institutional and accredited investors. On August 7, 2023, it was disclosed that the application had been approved, and on August 1, 2023, the license was issued.

Singapore buyout group Southern Capital is preparing to test buyer appetite for its medical practices business, Qualitas Health, appointing Bank of America to assist with the transaction.

Asian stocks are mixed as traders look ahead to the Federal Reserve’s summer conference for signs of whether the U.S. central bank thinks inflation is under control or more interest rate hikes are needed to cool inflation

rupee is within a whisker of a record low, but it’s still a favored emerging-market currency with some investors. A reserves stockpile of $600 billion, more than $16 billion worth of foreign inflows for stocks this year and economic growth forecast at 6.5% are among the reasons behind the optimism for Neuberger Berman Singapore and Columbia Threadneedle Investments. “The reserve number is very comfortable right now,” said Prashant Singh, senior portfolio manager for emerging-markets debt at Neuberger Berman Singapore, who favors the rupee.

After six months in administration, there might finally be some movement at Balmaine Gold, the local subsidiary of Singapore-listed Shen Yao. The company’s main asset, a gold mine in Ballarat, has attracted at least one bid – London’s Acheron Capital wants to buy it for $42 million.

NEW DELHI : Singapore, Indonesia and the Philippines, key diplomatic partners of India, have appealed to New Delhi to resume rice exports to their nations following India’s decision to suspend non-basmati shipments to check prices. Singapore has requested around 110,000 tonnes of rice from India. In June, Indonesia announced plans to import 1 million tonnes (mt) of rice from India to protect against disruptions caused by the El Nino weather pattern.

Enforcement Directorate on Saturday seized an asset worth ₹36.80 crore from a Goa-based miner's son, identified as Rohan Timblo. The seizure was part of the investigation into the Pandora Papers Leak. The probe revealed his alleged undisclosed foreign exchange outside India.

McDonald's Singapore has teamed up with crypto infrastructure startup Bandwagon Labs and local non-fungible token (NFT) artist 'The Hidden Walls' to launch Grimace digital collectibles - soulbound tokens and keepsakes that can be minted for free, but not traded or transferred. 

Investing.com-- Most Asian currencies fell on Thursday after the minutes of the Federal Reserve’s July meeting presented a hawkish outlook on interest rates, while the Chinese yuan rose amid reports of currency market intervention by the state.

A judge in Singapore has decided that a $140 million legal dispute between bankrupt crypto hedge fund Three Arrows Capital’s (3AC) liquidators and investment firm DeFiance Capital will be heard in the city-state, against the will of the liquidators.

migrant workers who make up nearly a third of the workforce. Their contribution is a curious blind spot. Meanwhile, politics is tightly constrained, as is civil society: you may be arrested for holding up a placard with a smiley face.

Singapore Red Cross, a prominent humanitarian organization, has announced a partnership with Triple-A, the first crypto payment gateway licensed by the Monetary Authority of Singapore (<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), to accept cryptocurrency donations. The partnership was revealed on August 7, 2023, just ahead of Singapore's National Day.

Singapore has added cooks from India to its list of permissible hires, widening its recruitment pool for certain job positions in the services and manufacturing sectors. Traditionally, employers in Singapore's services and manufacturing sectors have primarily sourced work permit holders from China, Malaysia, Hong Kong, Macau, South Korea, and Taiwan. The Ministry of Manpower has recently unveiled the application process for cooks in Indian restaurants in the city-state.

The Monetary Authority of Singapore (MAS), the city-state’s de-facto central bank, announced its revised regulatory framework for stablecoins, aimed to “ensure a high degree of value stability for stablecoins regulated in Singapore.”

While blockchains continue to revolutionize payments by allowing instant transfers, Singapore’s central bank believes that three business days is a "timely transfer" for single-currency stablecoins (SCS), which is similar to transfer speed requirements for domestic money transfers. 

The new rulebook will apply to single-currency stablecoins (SCS) pegged to the Singapore Dollar or any G10 currency, that are issued in Singapore. Issuers of such SCS will have to fulfil key requirements relating to value stability - including information relating to their composition, valuation, custody and audit - new capital requirements and redemption and disclosure rules.The new rules have been designed to ensure an orderly wind-down of failing stablecoins schemes and full value returns to investors.Only stablecoin issuers that fulfil all requirements under the framework can apply to MAS for their stablecoins to be recognised and labelled as 'MAS-regulated stablecoins'.

Singapore's central bank has released a revised regulatory framework aimed at ensuring stability for single-currency stablecoins (SCS) regulated in the city-state.

free trade, but are at a disadvantage in a new era of aggressive industrial policy. Industrialized nations such as the U.K. and Singapore lack the scale to compete against the biggest economic blocs in offering subsidies.

Singapore’s declining birth rate and its aging population require a sustained yet well calibrated influx of migrant workers, according to Deputy Prime Minister Lawrence Wong. “If we are not able to bring in immigrants to top up the population then we are in structural decline, and eventually the population will decline, the workforce will decline and Singapore will decline,” Wong said at the Reinventing Destiny conference in Singapore on Monday. At the same time, Wong said Singapore is controlling the number of immigrants who will be allowed to work and that the number isn’t limitless nor excessive. “At the end of the day, the numbers are constrained by how much we are able to integrate the new arrivals” and how the migrants “embrace our values and way of life.” As a small, open economy, Singapore relies on foreign workers to help meet its labor needs. Yet immigration rules have tightened in recent years as the government needs to strike a balance between protecting local jobs as well as ensuring that it has enough resources to meet the demands of an increasing migrant population amid slowing economic growth. “We will not have the ability to integrate all of them into our society,” he said. “A small proportion will come in as permanent residents and it’s gated, it’s regulated. And we want to make sure that those who come in as permanent residents and eventually citizens are the ones who have the best chance to integrate into our society.”