Singapore Financial News

education startup Eruditus has raised $150 million in new funding at a flat valuation of $3.2 billion post-money, led by TPG Rise, an impact investment fund from the US private equity investment firm. Existing investors SoftBank Vision Fund 2, Leeds Illuminate, Accel, CPP Investments and the Chan Zuckerberg Initiative participated in the round. TPG Rise has invested $100 million in Eruditus while SoftBank has put in another $20 million.

Skyscanner, with revenues and traveller searches for the company growing by around 35-40% in the country this year, said CEO John Mangelaars in an interview with ET. Skyscanner is a global travel app that helps travellers find the right deals across segments such as flights, hotels and car hire options. The company claims it searches more than 80 billion prices everyday, so travellers can be sure they've seen the best possible options, all in one place. “Visitors are up 40% in India and business is also up close to 40%. India is among the top ten markets in terms of revenue. I think it will be among our top three markets over the next few years. And in three years, Skyscanner will be among the top five companies in terms of market share in India,” he said.

Haldiram Snacks Food Pvt Ltd, the 87-year-old legacy brand which is India’s largest snack and convenience foods company. Earlier, it was reported that Haldiram’s promoters were planning to sell a controlling 51 per cent stake, but now a new report says they are looking to offload 10-15 per cent minority stake. Many global investors have been vying to buy a stake in the cash-rich and profitable company which has a long legacy of manufacturing the iconic Indian savoury snack, Bikaneri bhujia.

Subscribe to enjoy similar stories. At least 13 hoax bomb threats have been received by Indian airlines in the past 48 hours alone. Some flights had to be diverted, like one of Air India from New Delhi to Chicago that was forced to land in a small Canadian town.

Subscribe to enjoy similar stories. Singapore's Temasek Holdings Pte. Ltd has signed an agreement to buy 17-18% in Blackstone Inc.-backed VFS Global Services Pvt.

bomb threats, the Centre asserted that agencies are actively pursuing the cases even as the Mumbai Police apprehended a juvenile from Chhattisgarh for three such hoax calls. Meanwhile, to ensure the safety of passengers, the government is likely to increase the number of sky marshals on international flights. The government on Wednesday informed the Parliamentary Standing Committee on Transport that it is considering deploying a greater number of the elite National Security Guards (NSG) personnel on international flights. Civil aviation secretary Vumlunmang Vualnam also told the committee that investigators have gathered some information on the recent threats and are taking action. Separately, civil aviation minister Ram Mohan Naidu said he is monitoring the situation closely. A senior official of the Central Industrial Security Forces, the paramilitary force that handles airport security, said state police have been asked to arrest and take strong action against people making such threats. At least 19 Indian flights received hoax bomb threats in the past three days, leading to long delays and diversions. On Tuesday, Singapore's air force sent two fighter jets to escort an Air India Express plane away from populated areas after the airline received an email that there was a bomb on the aircraft.

Abu Dhabi Investment Authority (ADIA)-backed institutional investor Lake Shore has raised over ₹1,200 crore from HSBC Commercial Banking through a sustainability-linked loan for its retail property Viviana Mall in Thane, said persons with direct knowledge of the development. This is the first such fundraising linked to sustainability efforts undertaken for any retail property in the country and among the maiden real estate financing loans availed by any institutional investor in India. The integrated institutional investor has raised the funds through Lake Shore Group entity Salsette Developers that owns the retail property in Thane. HSBC Commercial Banking has provided the loan that was used to refinance the existing lenders and provide liquidity to the company.

The U.S. retirement system doesn't get high marks relative to other nations.

Hong Kong’s leader has announced a cut in liquor taxes as the Asian financial hub hopes to revive its reputation as a travel destination with a vibrant nightlife and dining scene

Quant Mutual Fund has invested around Rs 2,000 crore in the Adani Enterprises Qualified Institutions Placement (QIP). The QIP committee has approved the total issue size aggregating to approximately Rs 4,200 crore, under the issue by provisions of SEBI ICDR Regulations. As a percentage of total issue size, Quant Mutual Fund has invested nearly 47% in the QIP. Among the list of participants, a major stake was held by Quant Mutual Fund. Five schemes were from Quant Mutual Fund. Quant Small Cap Fund got the highest stake where around 24.68 lakh shares were allotted which is nearly 17.40% of the total issue size.

Aditya Birla Sun Life AMC will roll out a new $300 million India Yield Advantage fund in the private credit space to attract offshore capital from global investors in Singapore and Dubai. The fund will generate a return of around 20% by mirroring the company's domestic private credit fund strategy. In India, Aditya Birla Sun Life AMC has launched the fundraising exercise for its maiden ₹2,500 crore performing credit fund. «The offshore fund will offer global investors the opportunity to invest in India's growing private credit space, expanding beyond traditional equity investments that have been the primary focus so far,» said A Balasubramanian, managing director of Aditya Birla Sun Life AMC.

Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...

National Insurance Company, which is grappling with a severe solvency shortfall of ₹8,000 crore, with its solvency margin standing at a negative 0.49%, far below the regulatory minimum of 1.5%, has identified several key assets to address the gap, according to people familiar with the matter. Among these are its stake in Agriculture Insurance Company, a 20% stake in India International Insurance Singapore valued at about $500 million (about ₹4,000 crore) and a joint venture in Kenya, they said, adding that though the insurer has identified these assets, it is yet to start the process and seek necessary approvals to proceed with any sales. While the Insurance Regulatory and Development Authority of India (Irdai) has granted the company forbearance and it has no immediate pressure to liquidate assets, the insurer is hopeful that the transition to a risk-based capital framework, expected in the coming few quarters, would provide relief by improving the valuation of its assets, according to the people.

Vedanta Resources Ltd has said it paid USD 869 million to bondholders in October to redeem bonds three to four years ahead of maturity. The repayments are part of a larger liquidity management exercise under which Vedanta Resources Finance II PLC (VRF) — a wholly-owned subsidiary of Vedanta Resources Ltd — is repaying bonds with a higher interest rate to save on interest costs. VRF has repaid USD 869 million to bondholders holding 13.875 per cent bonds due in 2027 and 2028, respectively.

Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...

Subscribe to enjoy similar stories. On Wednesday, Reserve Bank of India (RBI) Governor Shaktikanta Das stayed true to his words.

SINGAPORE, October 2, 2024 — CoinGecko, the world’s largest independent cryptocurrency data aggregator, today announced the first wave of speakers for GeckoCon: Web3 Games Unleashed, its highly anticipated hybrid conference focused on web3 gaming. The dynamic one-day conference will bring together thought leaders, innovators, and gaming enthusiasts from around the world, to spotlight the latest advancements and trends in decentralized gaming.

Harvey Hunter is a Junior Content Creator at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.

GIC Pte is considering options for its 50% stake in India’s Greenko Energy Holdings, including a possible sale that could be worth around $5 billion, people familiar with the matter said.

Workers around the world have been trickling back to the office since the pandemic, but in Canada that trickle appears to be slower than most.

A former Singaporean Cabinet minister has begun a one-year prison term for receiving illegal gifts