Singapore Financial News

Alta Capital has acquired over 2.5 million sq ft logistics built and fully-leased assets from IndoSpace in a deal valued at over $100 million or Rs 840 crore, said persons with direct knowledge of the development.

Bank of America has been shaking up its European fixed income business under its Brians, but it's also been hiring. 

Subscribe to enjoy similar stories. Donald Trump will be the next US President. The Indian stock market jumped as presumably Trump’s pro-business outlook augurs well for inflows into the Indian stock market.

Air India has deployed additional resources, including help desk kiosks, at touch points and airports to ensure a smooth experience for Vistara passengers post its merger with the airline next week, an official said on Wednesday. Full-service carriers — Air India and Vistara, a joint venture between Tatas and Singapore Airlines — set to be merged on November 11. Post-merger, the routes and schedule operated by Vistara and the Vistara in-flight experience will remain the same.

HCLTech announced this week that it is setting up an artificial intelligence/cloud native lab in Singapore that will be ready next year. Singapore is the fifth country — after the US, UK, Germany and India — where the Noida-based company is setting up such a facility. The announcement comes days after India's second largest software services provider, Infosys, collaborated with University of Cambridge to establish an AI lab in London, adding to over a dozen such centres it has globally.

Home financing startup Easy Home Finance has secured $35 million in a funding round led by Ranjan Pai’s family office Claypond Capital and Japanese financial services major Sumitomo Mitsui Banking Corporation’s Asia Rising Fund.

Hinduja Group received the central bank's approval to acquire the financial services company, but the transaction cannot proceed until it is approved by the Department for Promotion of Industry and Internal Trade (DPIIT). The Hindujas need DPIIT's approval because IIHL (IndusInd International Holdings), the acquisition vehicle, has 600 shareholders from the UAE, Singapore, Hong Kong, and Mauritius, with 39 shareholders residing in Hong Kong, which is classified as a land-border country under PN3 due to its special administrative relationship with China, said a source. This has raised compliance questions under PN3, prompting deeper scrutiny by Indian regulators.

Singapore’s flag carrier, already rountinely ranked as the world’s No. 1 airline with its generous pourings of champagne and ability to book the cook and order Lobster Thermidor, unveiled its fresh and completely redesigned first and business class seats — with all-new privacy doors — on Monday. To start, Singapore Air’s seven Airbus SE A350 jets that fly the 18- or 15-hour crossings between Singapore and New York or Los Angeles will get four first class seats installed. The move comes as rival Qantas Airways Ltd. prepares to launch non-stop flights between Sydney and London and New York as part of Project Sunrise.

France, Germany, Italy, Japan, and Spain shared the second place, granting their citizens visa-free access to 192 countries, as per the latest rankings. The United States ranked 8th, giving its citizens visa-free entry to 186 countries.

Non-resident Indians (NRIs) now have a faster, more convenient option than traditional wire transfers to send money to family or make payments in India. The National Payments Corp. of India (NPCI) has extended UPI access to NRIs who hold non-resident external (NRE) or non-resident ordinary (NRO) accounts. This expansion allows NRIs to conduct instant transactions from their smartphones using UPI linked to their international mobile numbers, simplifying financial connections with India.

Subscribe to enjoy similar stories. At the 39th ASEAN Roundtable, hosted by a research institute in Singapore on October 28th, the room was split. With Asia riven by an assertive China and a protectionist America, some attendees called for hard-headed thinking about trade-offs.

Country Delight has raised Rs 200 crore in venture debt from Alteria Capital. The new funds will be used to fuel the company’s expansion, increase capacity, and drive brand marketing efforts, the Gurugram-based company said in a statement. «As we scale our operations and prepare for our initial public offering (IPO) journey, it is important for us to use various capital sources to improve financial efficiency and also set us up for the next phase of growth,» said Chakradhar Gade, the chief executive officer of Country Delight.

Bharti Telecom, a key holding company of the Bharti Group for its telecom business, is raising ₹11,150 crore through a new issuance of non-convertible debentures (NCDs), mainly to refinance existing high-cost debt, said people close to the development. The issuance is divided across various tenors and series. The annual coupon rate for the debentures will range from 8.25% to 8.9%, with payments to be made annually and upon maturity for each respective tranche.

Samsung Electronics Co. looked primed to benefit from the global AI boom: profits were surging and its stock was rising toward an all-time high. Now, South Korea’s biggest company has become a stark example of how quickly fortunes can turn in an industry where the spoils go to those who maintain a technological edge. As concerns mount that the company is losing out to smaller rival SK Hynix Inc. in AI memory and failing to gain on Taiwan Semiconductor Manufacturing Co. in outsourced chipmaking, Samsung shares have tumbled 32% from this year’s peak on July 9. The company has lost $122 billion of market value in that span, more than any other chipmaker worldwide.

MG Motor India’s proposal to avail benefits of production-linked incentive (PLI) scheme is under scrutiny, according to a report by the Times of India. Quoting sources, TOI claimed the company’s foreign investment scrutiny towards availing of PLI benefits had been “held back” by an inter-ministerial panel led by the Union Home Secretary. The report cited MG Motor's China connection as the reason for the review. The panel is primarily tasked with checking if FDI proposals are in line with the government’s Press Note 3 prescription.

The owner and manager of the container ship Dali are seeking to minimize their responsibility for the deadly Baltimore bridge collapse

Delhi High Court on Tuesday ordered auctioning of the Fortis trademark in connection with the ₹3,500 crore arbitral award passed in favour of Japanese pharma major Daiichi Sankyo and against the former Ranbaxy promoters. Justice Sachin Datta passed the order on an application filed by Daiichi Sankyo seeking the sale of the Fortis trademark, owned by RHC Healthcare Management Services which is one of the judgment debtors in the matter.

Edu-wealth startup Zinc, founded by former PayU Credit chief executive and PaySense founder Prashanth Ranganathan has raised $25.5 million in seed funding. The round was led by Nexus Venture Partners, with participation from Quona Capital, EDBI, Global Ventures, and Saison Capital. The Singapore-headquartered company plans to use the funds to drive product innovation, expand its offerings and secure key financial licences to help families save and invest for their children's global education.

Mahagenco and public sector NTPC has emerged as the top bidder to take over the 1,350 MW Sinnar Thermal Power plant near Nashik. Mahagenco's bid of Rs 3,800 crore is above the second-placed Adani Power in the initial round of bids. Lenders are evaluating legal and other compliances of the bidders, following which negotiations with individual bidders will start, said people familiar with the process. «The early bids put the Mahagenco-NTPC partnership at the top. The second-placed bidder is behind as its bid is less than Rs 3,000 crore. But the plans are still at the initial stage and we could see revisions since all parties interested are serious players in this sector,» said a person familiar with the process. Resolution professional (RP) Rahul Jindal did not reply to an email seeking comment.

The last time investment banks went on a hiring spree for investment banking analysts and associates, it was after the pandemic and juniors at Goldman Sachs had been complaining of 100-hour weeks and insufferable mental health. Together with booming deals, this contributed to a rush of recruitment. Nearly four years later, is history ready to repeat itself?

Harold and the Purple Crayon, which is based on the beloved book by Crocket Johnson, will soon be available for streaming on Netflix. The film follows Harold, a young boy who creates magical adventures with his purple crayon.