Singapore Financial News

Subscribe to enjoy similar stories. Semiconductor chip manufacturer Polymatech Electronics will spend close to $300 million in closing two acquisitions within the next few months in the US and France as it expands its presence globally. Polymatech Electronics founder Eswara Rao Nandam told Mint that the acquisitions will be funded through a mix of internal accruals and external investments from potential equity investors.

Banks are ramping up their operations in Kerala, known to be the hub for NRI deposits and remittances, while they strengthen their operations in the Gulf countries to deepen the customer connection. «NRI deposits, characterised by larger ticket sizes and consistent inflows provide a valuable source of long-term funding. NRIs often seek secure and profitable avenues to park funds domestically, making this segment a stable and resilient deposit base,» said Federal Bank executive director Shalini Warrier.

The digital asset rose nearly 6% in the US to a record $93,462 but failed to hold the climb, falling back to $89,974 as of 10:28 a.m. on Thursday in Singapore. The wider crypto market swung between gains and losses amid choppy trading.

Subscribe to enjoy similar stories. SINGAPORE—The last thing Xi Jinping needs right now is another showdown with Donald Trump over trade. China is grappling with an epic property collapse, and local governments are wobbling under trillions of dollars of debt.

Laurence Balanco of CLSA says Nifty has completed this topping pattern that had formed between August and October – the classic head and shoulders reversal – and that still gives a downside target around 22,800. The midcap sector has also rolled over from the rounding topping pattern that we have had for the past six months and not yet met the minimum downside targets. There is no evidence of slowing in downside momentum and the relative underperformance continues. Be patient and wait for those opportunities to develop. Balanco also says that while we have been down for roughly a quarter, the consolidation can take another quarter. So, this is a process of three to six months which will give us a platform for a resumption of the longer-term uptrend. Let us understand the way the world is getting divided. There is an emerging market basket which is moving lower and then there is a developed market basket which is moving higher. I am mainly talking about the US market here. Do you think there is a sizable disconnect between what the developed markets are doing versus where emerging markets are moving? Could that extend for another quarter or so? Laurence Balanco: It is quite interesting.

Subscribe to enjoy similar stories. As festivities bring families and friends together, dinner table conversations more often than not turn to children and their future. This time it was around higher education, a topic that is particularly resonant for me as a parent of a 13-year-old son.

Indosat Ooredoo Hutchison and its biggest tech company GoTo Gojek Tokopedia launched on Thursday the development of Sahabat-AI, a large language model ecosystem in Indonesian languages. Sahabat-AI would enable Indonesians to build artificial intelligence-based services and applications in Bahasa Indonesia and various other local languages, with the understanding of local context, the companies said in a joint statement. It is supported by AI Singapore and India's Tech Mahindra, which used Nvidia AI Enterprise software including Nvidia NeMo to train the model and enhance its general language understanding, according to the statement. Several universities and media groups will contribute to optimise it for local context and cultural relevance, it added.

Not so long ago, environmental, social and governance (ESG) jobs were all the rage in banking and finance. In the years after the pandemic, they carried a 20% pay premium and there was talk of a skills gap: in 2020, CFA Institute found that 18% of portfolio manager jobs wanted ESG skills, but that only 1.5% of portfolio managers had them. Buffing a CV with ESG seemed like a no-brainer. 

Subscribe to enjoy similar stories. FEW PLACES on Earth are more familiar with the deadly consequences of extreme heat than countries in Africa. Heat kills crops, spoils food and medicines, and makes it impossible to work, study or sleep.

Bitcoin has paused as traders assess the remaining market impact of President-elect Donald Trump’s rhetorical support for crypto. The digital asset is up about 32% in the wake of Trump’s Nov. 5 election victory, hitting a record of $89,968 on Tuesday, based on data compiled by Bloomberg. It changed hands at $88,500 as of 9:13 a.m. Wednesday in Singapore.

Former Prime Minister Stephen Harper is among those being considered to chair Alberta Investment Management Corp. (AIMCo), the $160-billion pension and endowment manager whose board of directors and chief executive were purged last week by the Alberta government.

Visa said on Tuesday it was rolling out a flexible payments feature in the U.S. and the United Arab Emirates, as it looks to capitalize on the growing demand for a variety of transaction options. The «flexible credential» feature, already available in Hong Kong, Japan, the Philippines, Singapore, Thailand and Vietnam, lets customers use a single card to pay from different funding sources, the payments processor said. Customers are increasingly prioritizing convenience and flexibility in payments, especially as e-commerce flourishes, prompting companies to take proactive steps to maintain their edge in an industry being reshaped by digital disruptors.

Indian aviation space will come down to just one from five in a span of over 17 years. Also, the merger-which will see Vistara's 49% owner Singapore Airlines holding 25.1% stake in Air India post the merger-will mark the sunset of another Indian airline jointly owned by an overseas carrier after the liberalisation of foreign direct investment norms. In 2012, Prime Minister Manmohan Singh-led UPA government allowed foreign airlines to buy up to 49% in a domestic carrier, which later resulted in the now defunct Jet Airways securing 24% stake from Gulf carrier Etihad besides the birth of AirAsia India and Vistara.

Vistara merger over different retirement age limits for pilots of the two Tata Group-owned airlines as the management is yet to address the issue, according to sources. At Air India, which was owned by the government since the 1950s and came into the Tata fold in 2022, the retirement age for pilots and other staff is 58 years, whereas at Vistara it is 60 years. Vistara — jointly owned by Tata Group and Singapore Airlines — is set to be merged with Air India on November 11 as part of the salt-to-steel conglomerate's consolidation of its aviation business. The sources said resentment is brewing among a section of Air India pilots as the management is yet to formulate a common superannuation age for the integrated entity.

Vistara in November. The merger, announced on November 29, 2022, and set to be completed on November 11, 2024, will result in Singapore Airlines having a 25.1 per cent stake in the enlarged Air India. Full-service carrier Vistara, which started flying on January 9, 2015, is a joint venture between Tatas and Singapore Airlines, where the latter holds a 49 per cent shareholding. Singapore Airlines (SIA) Group on Friday said its consideration for the merger comprises the 49 per cent interest in Vistara and Rs 20,585 million (Rs 2,058.5 crore) in cash in exchange for a 25.1 per cent equity interest in the enlarged Air India.

Bitcoin is closing in on $80,000 for the first time, boosted by President-elect Donald Trump’s embrace of digital assets and the prospect of a Congress featuring pro-crypto lawmakers. The cryptocurrency climbed as much as 4.3% to an unprecedented $79,771 on Sunday and remained near $79,000 as of 2:05 p.m. in Singapore. Smaller tokens like Cardano and meme-crowd favorite Dogecoin also rallied.

Tour de France Singapore Criterium.

Regional Comprehensive Economic Partnership (RCEP), a top official at a government think tank said on Thursday, years after the country decided to walk out of the China-backed Asian trade bloc.

Around 11:30 am, the highest subscription was witnessed by the retail participants, who bid for 1,01,98,000 shares from the 3,14,28,571 reserved for them. They had subscribed to the issue by 32%. Non-institutional investors (NIIs) had subscribed the issue by 2%.

Capillary Technologies, which provides customer engagement and loyalty software services to companies, is reviving plans for its initial public offering after having shelved its previous attempt in 2021, people aware of the matter said.