Singapore Financial News

By Arriana McLymore

climate change. But the funding available to them is $46 billion. How does one fill this gap? In a panel discussion on financing the green transition at the Mint Sustainability Summit, Nawal Saini, MD, Brookfield Renewable Power & Transition Group, said there was a need to deepen the bond markets and make available long-term fixed-rate capital.

Tribeca Investment Partners is set to extend its dominance from resources stocks to infrastructure names, as it reels in a big-ticket Asian sovereign wealth fund with a freshly minted fund.

New Delhi: Shell India on Monday announced the appointment of Mansi Madan Tripathy as the new country chair of the company, effective 1 October, the company said in a statement. Tripathy will succeed Nitin Prasad who has been the country chair since 2016, it added.

By Joice Alves and Ankur Banerjee

Mansi Madan Tripathy will take over as the new country chair of Shell India from October 1, the company said in a statement. She will succeed Nitin Prasad who has been heading Shell in India since 2016. Mansi joined Shell in 2012 from Procter & Gamble and has held multiple assignments at the energy major. Currently, she is based in Singapore as vice president of Shell Lubricants for Asia Pacific, a role she will not relinquish when she returns to New Delhi in October to head the Indian operation. Before moving to Singapore, Tripathy served as the managing director of Shell Lubricants India. Tripathy is an engineering graduate from the National Institute of Technology Kurukshetra and has an MBA in Marketing from S.P.

New Delhi: Consumer goods company Procter & Gamble India, maker of brands like Ariel, Whisper, and Gillette, on Monday announced the appointment of Mukta Maheshwari as the company’s chief marketing officer (CMO), effective 1 September. Along with leading the marketing function at the company, Maheshwari will also head the fabric care category for P&G India.

Skyroot Aerospace, which launched India's first private rocket in 2022, aims to double its planned launches starting next year on a likely boost to the country's fledgling private space sector from the success of the Chandrayaan-3 moon mission. The Hyderabad-based company, backed by Singapore's sovereign wealth fund, GIC, is also aiming to raise more money by the end of next year, co-founder Pawan Kumar Chandana told Reuters in an interview. «From 2024 and later, we're looking at at least two launches per year and will probably ramp up as we move further,» said Chandana, whose company is set to send its second rocket to space by the end of the year. Chandana, a former scientist at the Indian Space Research Organisation, said he was receiving «a lot of messages from global and domestic investors» who want to understand Skyroot's business ever since India became the first country to achieve a safe landing on the lunar south pole. The company conducted India's first private rocket launch looking to cut satellite launch costs in an industry fast getting crowded as various firms build out networks to deliver broadband services, which need small satellite launches.

SINGAPORE — Southeast Asia's fourth largest bank OCBC suffered a short outage on Monday that affected its digital and card banking channels.

Inward foreign remittances to India surged by 26% ... moreInward foreign remittances to India surged by 26% to $112.5 billion in the last fiscal year, the highest growth in five years, driven by economic recovery post-pandemic.

KUALA LUMPUR (Reuters) — Malaysia will create a «special financial zone» in embattled Chinese developer Country Garden's $100 billion project in the Southeast Asian nation and offer incentives to attract investments, Prime Minister Anwar Ibrahim said.

Investing.com-- Most Asian currencies moved little on Monday as markets weighed hawkish yet somewhat reiterative comments on monetary policy from the Federal Reserve, while the dollar retained recent gains and came close to a three-month high.

By Florence Tan and Sudarshan Varadhan

(Reuters) — Singapore's second-biggest lender Oversea-Chinese Banking Corp (OCBC) said on Monday it is facing technical problems with its systems impacting various banking channels.

(Reuters) -Electric vehicle maker BYD Co (SZ:002594) Ltd said on Monday its unit struck a deal with U.S.-based manufacturing firm Jabil Inc's Singaporean division to buy its mobility business in China for 15.8 billion yuan ($2.17 billion).

The Monetary Authority of Singapore (MAS) has unveiled its finalized regulatory framework for stablecoins. This development follows a public consultation in October 2022 and a parliamentary inquiry on 20 March 2023 regarding MAS' stance on cryptocurrency trading risks and stablecoin development. Senior Minister in charge of MAS, Mr. Tharman Shanmugaratnam, emphasized the consultation papers' intent to reduce consumer risks from cryptocurrency trading and ensure stablecoin value stability. The consultation period, which concluded on 21 December 2022, saw MAS receiving extensive feedback.

Analysing the FDI Flow India's thriving economy has also attracted $46 billion in FDI during FY2023, registering a remarkable growth of 89% since FY2014. This warrants scrutiny of the jurisdictions contributing to this inflow.

Foreign direct investment (FDI) into India declined 34% year-on-year to $10.94 billion during April-June this fiscal. FDI inflows were $16.59 billion during April-June 2022-23, data released by the Department for Promotion of Industry and Internal Trade (DPIIT) showed. Total FDI inflows, including fresh FDI equity inflows, reinvested earnings and other capital, were $17.56 billion against $22.34 billion a year ago. Singapore was the top source of FDI with inflows of almost $3 billion, followed by the Netherlands, at $1.5 billion.

MANILA (Reuters) — China's «aggressive behaviour» in the South China Sea, including the use of water canon by its coast guard against a Philippine vessel, must be challenged and checked, the commander of the U.S. Navy's Seventh Fleet said on Sunday.

Foreign direct investment (FDI) into India declined 34% on-year to $10.94 billion during April-June period this fiscal. FDI inflows were $16.59 billion during April-June 2022-23, data released by the Department for Promotion of Industry and Internal Trade (DPIIT) showed. Total FDI inflows- including fresh FDI equity inflows, reinvested earnings and other capital- were $17.56 billion as against $22.34 billion a year ago.Singapore was the top source of FDI with inflows of almost $3 billion, followed by The Netherlands at $1.5 billion. FDI from Mauritius, Singapore, the US and the UAE declined in the first quarter of FY24. Inflows dipped in segments including computer hardware and software, trading, automobile and pharma.

According to a report by CNN, in 2021, Murugan fell off the back of an overcrowded lorry, leading to a fracture on his leg. Murugan’s accident occurred on January 3, 2021.