Singapore Financial News

Air India Express has launched six new daily direct flights in a single day, said a press release on Tuesday. The Tata-owned Air India subsidiary airlines will be flying five new routes as a part of this launch which include Guwahati-Jaipur, exclusive to Air India Express. The new flights are operating on the Chennai-Bhubaneswar, Chennai-Bagdogra, Chennai-Thiruvananthapuram, Kolkata-Varanasi, Kolkata-Guwahati, and Guwahati-Jaipur routes. Moreover, to accommodate growing demand on the Chennai-Thiruvananthapuram route, which was previously served by two weekly flights, the airline has now added an extra daily service, increasing the total to nine flights per week. Air India Express now connects Chennai directly to 10 destinations which include Bagdogra, Bengaluru, Bhubaneswar, Guwahati, Hyderabad, Kolkata, and Thiruvananthapuram domestically, and Dammam, Kuwait, and Singapore internationally.

FirstCry, will debut on the exchanges on Tuesday. Ahead of the listing, the company's shares are trading at a GMP of Rs 84 in the unlisted market. Considering the upper price band of Rs 549, the stock is expected to list at a premium of 18% to the issue price.

Crypto custody platform Bitgo is planning to move the wrapped bitcoin (WBTC) product to its joint venture with Hong Kong-based BiT Global which is triggering a backlash due to Justin Sun’s involvement.

Ritesh Agarwal has invested Rs 830 crore through his Singapore-based entity Patient Capital in OYO's latest funding round — wherein the travel tech platform raised Rs 1,457 crore, sources said. Post the equity dilution in the Series G funding, Agarwal's holdings will increase from 29.97% earlier, to 32.57% post the investment, sources told PTI. According to sources close to the transaction, «Ritesh has invested to protect his ownership dilution in OYO as well as a signal of confidence in the company's prospects. The investment is backed by Singapore-based family offices.» Oravel Stays Ltd, the parent company of OYO, has raised Rs 1,457 crore from a consortium of investors in the latest funding round.

IPE Plus Fund, finds itself in the crosshairs of Hindenburg Research, its New Delhi-born, Singapore-based, founder and chief investment officer (CIO) Anil Ahuja finds himself in the news yet again. Ahuja was among the first to make a private equity bet on the Adani Group, while he was at 3i Infrastructure, which he joined in 2005. In 2007, 3i made the first investment from its Indian infrastructure fund, paying $227 million (Rs897 crore at the time) for an undisclosed stake in Adani Power Ltd, then a fully-owned subsidiary of flagship Adani Enterprises Ltd. According to a TOI report, with the enterprise value of Adani Power pegged at Rs 10,850 crore, 3i's equity stake in Adani Power worked out to around 8%. This was 3i’s largest transaction in India since it started investing in the country in mid-2005. It held onto the stock for over seven years. When it sold a 2% block in the company in 2014, VC Circle calculated a 25-30% loss in pound sterling (40% in dollar terms) largely on account of sharp depreciation of the Indian currency. Ahuja left 3i in 2013 and joined IPE Plus Advisors in January 2014. Read More: Madhabi Buch made disclosures, investors should read Hindenburg disclaimer: Sebi

Allied Blenders & Distillers (ABD), which owns the Officer's Choice whisky brand, is in talks with vodka giant Russian Standard and Bangkok-based Thai Beverage (ThaiBev) to market and distribute their products in India, two executives privy to the development said. The talks, if fructify, will help ABD to widen its product portfolio from largely whisky to a host of spirit segments such as vodka and scotch, while the two global companies will get an entry into the world's biggest alcohol consuming country with a strong partner which has robust distribution and manufacturing capabilities, the executives said. ThaiBev's global portfolio through its arm International Beverage includes scotch brands Old Pulteney, Speyburn, Balblair, Reid vodka, Phraya rum and Source gin. The company is owned by Thai-Chinese billionaire businessman Charoen Sirivadhanabhakdi and is listed on the Singapore Stock Exchange. Russian Standard is the largest vodka brand, owned by billionaire Roustam Tariko.

climate change requires a focus on Asia, which is home to 60% of the world's population and contributes over half of global emissions, with temperatures in some areas rising twice as fast as the global average, and given India's size, scale, and influence, it plays a vital role in the global solution, said Desmond Kuek, executive director and CEO of Temasek Trust. «Addressing these issues in Asia is essential for global progress, and India plays a pivotal role in driving positive impact across Asia and beyond,» Kuek told ET in an exclusive interaction. «We are just at the start of this multi-year journey and aim to bring together diverse partners and stakeholders, including from India, to collectively tackle these challenges.» Since 2003, the Singaporean investment company has been setting aside a portion of its net positive returns above its risk-adjusted cost of capital for community gifts to foster a more inclusive world with focus on sustainable development. Temasek Trust, as the primary beneficiary of Temasek's gifts, disburses grants for programmes to be developed and delivered by its non-profit ecosystem including Temasek Foundation, Temasek Life Sciences Laboratory, and Mandai Nature.

A federal indictment has charged three current and former executives of Smartmatic in a scheme to pay more than $1 million in bribes to put its voting machines in the Philippines, a setback for a company that has been feuding with allies of Donald Trum...

Also read | At Sebi, Madhabi Buch doesn't look at ICICI Securities, Blackstone matters Both Madhabi Buch and Dhaval Buch in a joint statement strongly denied the allegations, stating that they have made all necessary disclosures. “Our life and finances are an open book. All disclosures as required have already been furnished to Sebi over the years," they said.

Here is the list of award money athletes get for finishing on the podium in Olympics. Hong Kong and Singapore top the list for the highest cash payouts for Olympic victories.

BEIJING — A hazardous goods container exploded Friday on a cargo ship in China's high-traffic Ningbo Port, Taiwanese vessel owner Yang Ming Marine Transport Corporation told CNBC in a statement.

Hurun India most valuable family businesses, the top three family business’ interests are valued at $460 billion, equivalent to the GDP of Singapore. The list reveals that the top three Indian business families include the Ambani, Bajaj, KM Birla, with the Bajaj family valued at Rs 7.13 lakh crore and the Birla family at Rs 5.39 lakh crore. The Ambani family tops the list with Rs 2.57 lakh crore. However, the Adani-led energy conglomerate, with a value of Rs 15.45 crore did not feature in the top 10, as it is a first-generation family business. The Adani family leads in the first-generation entrepreneur category with a valuation of Rs15.45 lakh crore. The combined value of the 2024 list stands at Rs130 lakh crore, surpassing the GDPs of countries like Switzerland and the UAE. The top three family businesses alone account for Rs46 lakh crore, equivalent to Singapore's GDP.

Digital asset service provider BitGo has become the latest crypto player to receive the Major Payment Institution (MPI) License from the Monetary Authority of Singapore (MAS).

Singapore's DBS Group has appointed Tan Su Shan, currently its institutional banking group head, as CEO from March, replacing Piyush Gupta, who has led Southeast Asia's biggest bank for 14 years. She will be the bank's first female chief executive and also the first to be appointed from within the ranks of the bank.

Digital payments major PhonePe is looking to set up retail payment operations in new geographies, including Southeast Asia and the Gulf region, two people aware of the company's plan told ET. Places like Singapore, the Gulf region and some countries in Europe are on the agenda, but the plan is still in the early stage and implementation will be done slowly, they said. “The plan is to apply for a payment licence in these geographies and set up retail payment operations there,” said one person, requesting not to be named. «The expertise that the team has built scaling up business in India will be handy there and there is a large opportunity as payments get digitised in these places.»

Tarang Shakti, the IAF organised multinational exercise that will see the participation of air force units including from Germany and France got underway here on Tuesday and will see a number of advanced fighters and other aircraft taking to the skies as part of the various simulated scenario. Simulated scenario, including electronic warfare, would be part of the exercise being held in this western city, about 500 km from Chennai, Chief of the Air Staff, Air Chief Marshal VR Chaudhari said "...we have at least six different types of IAF aircraft flying alongside the Eurofighter Typhoons and Rafale from the visiting countries...we have also simulated electronic warfare environment, we simulate radars, we simulate air defences and operate in some sort of a network environment against multiple kinds of opposition in every mission." «The whole idea is to be able to operate- you are aware that we are without a common data link with the visiting Air Forces, so we need to operate without a datalink. That itself is a very complex exercise. The main focus will be on what we call the large force engagements where large numbers of formations will be operating together,» the Air chief told reporters.

Jump Trading is making significant crypto transactions involving large amounts of USDC stablecoin and is expected to cash out $440 million, notes onchain sleuth Lookonchain.

Cambodia on Monday broke ground to build a controversial, China-funded canal to link the capital Phnom Penh to the sea despite environmental concerns and the risk of straining ties with neighboring Vietnam

Tax Intelligence (DGGI) has sent showcause notices to 10 foreign airlines operating in the country, for alleged non-payment of tax amounting to ₹10,000 crore, officials said. They include British Airways, Lufthansa, Oman Air, Emirates and Singapore Airlines, they said. The notices, sent over the past three days, deal with unpaid tax dues on the import of services by Indian branches from head offices, officials said. Airlines are not covered by a June 26 circular on valuation of supply of import of services by a related person, where the recipient is eligible for full input tax credit, an official said. DGGI sought segregated list This is the circular cited by Infosys following a recent integrated GST demand amounting to Rs 32,000 crore.

The cryptocurrency market has experienced a massive drawdown. A report from QCP Group, a prominent Singaporean digital asset trading firm, directly links the crash to aggressive selling by Jump Trading.

Anand Mahindra's words of wisdom to investors is to «play the long game». His advice to investors is to deploy the ancient Indian practice of Pranayama, breathe deeply and look inwards. «What I see is an India that is an oasis in the world. Whose Rise will not be impeded in the medium to long term,» Mahindra said in a tweet.