Singapore Financial News

business leaders in Singapore and appraised them about various reforms that are currently underway in India to attract investment and innovation. Modi is here on a two-day visit at the invitation of his Singapore counterpart Lawrence Wong. «Interacted with top business leaders and CEOs in Singapore. We talked about ways to deepen economic linkages. I highlighted the reforms underway in India, which will encourage investment and innovation,» the Indian Prime Minister said in a post on social media platform 'X'. Over the past 10 years, India-Singapore trade has more than doubled.

On the occassion of the first International solar festival, Modi explained the importance of transitioning to using solar energy in the current world. Currently on a state visit to Singapore, the Prime Minister said that India is expanding its horizons in the field of solar power, and highlighted the three factors that make solar energy a sustainable solution: awareness, affordability and availability.

ICICI Bank and continued to have worked until October 2013, according to an executive familiar with the developments at the bank. This is corroborated by ICICI Bank’s response to stock exchanges on 2 September, when it disclosed that Buch retired from ICICI Group on 31 October 2013. However, Buch’s profile on professional networking platform LinkedIn states she worked with Greater Pacific Capital, a Singapore-headquartered private equity firm, as head of business developments between 2011 and 2013.

A dismissed town mayor who fled the Philippines after being accused of helping establish an illegal online gaming and scam center catering to clients in China has been arrested near Indonesia’s capital

Blackstone Inc. has agreed to acquire AirTrunk in a deal valuing the Australian data centre operator at A$24 billion (US$16.1 billion), including debt and capital expenditure for committed projects.

Renewable Energy Minister Pralhad Joshi on Wednesday stressed on the need to bring startups into the green hydrogen sector to bring new ideas and involve youth. Addressing a curtain raiser of the second International Conference on Green Hydrogen India 2024, Joshi said that there will be over 120 exhibitors in the event which is scheduled on September 11-13, 2024 in Delhi. He said for pushing green hydrogen mission, we need to bring startups as it needs young blood and new ideas. The event is to further green hydrogen mission for which government had allocated Rs 19,744 crore.

conglomarate CapitalLand is preparing to double down on its investments in India by more than $14.8 billion. The Singapore envoy to India Simon Won took to social media platofrm X to make the announcement, appreciating the move. «Singapore's CapitaLand, one of Asia's largest diversified real estate groups, plans to more than double its funds under management in India to more than S$14.8 billion (>INR 90,280 Cr) by 2028,»

₹4,000 crore. Canada Pension Plan Investment Board (CPPIB), the other final bidder, too had submitted a binding bid for the deal run by JP Morgan. Cube Highways will now be given exclusivity to close the deal for the portfolio of five road assets totalling 230 km.

National Company Law Tribunal (NCLT) on Tuesday issued a notice to the suspended management of grounded budget carrier Go First, seeking its response to the Committee of Creditors' (CoC) decision to liquidate the airline. The counsel for the resolution professional (RP) informed the tribunal that the CoC had passed a resolution to liquidate Go First after finding that the resolution plans received under the insolvency resolution process were non-compliant with the law. Further, the counsel said since the CoC has already infused more than ₹200 crore in the insolvency resolution process, and with no cash being generated by the airline, the CoC has approved a resolution allowing third-party funding of the arbitration proceedings that Go First has filed against US engine maker Pratt & Whitney (P&W) at the Singapore Court of Arbitration.

Foreign direct investment in India jumped 47.8 per cent to USD 16.17 billion in April-June this fiscal on healthy inflows in services, computer, telecom and pharma sectors, according to government data. FDI inflows were at USD 10.94 billion in April-June 2023-24. The data showed that overseas inflows in May rose to USD 5.85 billion and in June to USD 5.41 billion from USD 2.67 billion and USD 3.16 billion, respectively, in the year-ago period. In April, FDI inflows were down marginally at USD 4.91 billion against USD 5.1 billion in April 2023.

Passenger planes come into contact at New Chitose Airport during wintry weather conditions. (Credit: Reuters)

international travel. A recent report by MakeMyTrip, covering the period from June 2023 to May 2024, highlights a significant rise in the number of Indians taking international trips, with a 32% growth in people going on two or more international journeys. Those taking three or more trips have grown by 37%, underscoring India's growing appetite for global travel.

The International Longshoremen's Association, which has more than 47,000 members, said it had discovered that the gate was using technology to check and let in trucks without union workers, which it said violated its labor contract. «We will never allow automation to come into our union and try to put us out of work as long as I'm alive,» said Harold J. Daggett, the union's president and chief negotiator in talks with the United States Maritime Alliance, a group of companies that move cargo at ports.

Prime Minister Narendra Modi has chosen to visit Singapore so early in his third term," The Straits Times quoted Jaishankar as saying in an interview. He said that India and Singapore's bilateral ties «have been extremely strong in the last two decades». Just like Singapore had an opportunity in 1992 and then again in 2006, it should seize the moment and fully utilise the new landscape, the minister said.

Pope Francis arrived in Muslim-majority Indonesia on Tuesday to kick off a four-nation tour of the Asia-Pacific that will be the longest and farthest of the 87-year-old's papacy. The head of the world's 1.3 billion Catholics touched down in Jakarta for a three-day visit devoted to inter-religious ties, and will then travel to Papua New Guinea, East Timor and Singapore. The 12-day tour will test the pontiff's increasingly fragile health, but he is often energised by being among his flock and he emerged from the 13-hour flight smiling and waving.

Modi embarked on a visit to Brunei and Singapore, the Congress took a swipe at him on Tuesday, asking when will «our frequent flyer» make a 'humanitarian' visit to the troubled state of Manipur. Prime Minister Modi is visiting Brunei on September 3-4 at the invitation of Sultan Haji Hassanal Bolkiah to further strengthen bilateral cooperation in all existing sectors. He is slated to visit Singapore on September 4-5 at the invitation of his Singaporean counterpart Lawrence Wong.

IIT Bombay has completed final placements with an average annual package of Rs 23.5 lakh, a 7.8% jump from last year’s average of Rs 21.8 lakh but fewer students compared to last year have landed jobs during the process, a report released by the institute has revealed. In one of the most challenging years for placements to date, about 74.5% of the 1979 students who actively participated in the campus drive have got jobs, with 1475 job offers accepted. This is compared to about 82% last year when 1845 students actively participated and 1516 job offers were accepted. This is despite 364 companies making offers, compared to 324 last year. Seventy-eight international offers were accepted in both Phases of the IIT Bombay placements 2023 — 24, while 22 offers of above Rs 1 crore per year were accepted during this drive, according to data from the institute. Around 206 students received salaries of less than Rs 10 lakh.

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

PLI beneficiaries. “GeM has registered phenomenal growth and the list of PLI beneficiaries is also expanding, as the scheme has started to yield results," said the official, requesting anonymity. Taurani is sceptical.

MUFG), Japan's largest mega bank with close to $3 trillion in assets, last week placed its biggest bet in India: It doubled an existing investment with a further commitment of ₹4,712 crore on DMI Finance. Masakazu Osawa, Asia Pacific CEO for the bank, tells Joel Rebello the group has only started its investment journey in India and would increase exposure in the economy tipped to be the world's third biggest soon. Edited excerpts: You doubled down on your investment in DMI Finance last week. What is the strategy for investments in India?

Localisation and customer service are key to success in any market, Agoda chief executive Omri Morgenshtern said. «Deep local merchandising or localisation is what we do when we go to any market. Every market you go to, you have two problems: problem number one is trust… nobody knows you and, as a result, they don't trust your service,» he said. «Problem number two is customer education in a B2C (business-to-consumer) business. Educating customers about something that they are not used to doing is horrible, super painful, costly… slower adoption. What you want to do is bring yourself, as much as you can, to look and behave like a local brand. Don't educate people… slowly, start being a local.»