Singapore Financial News

DWF Labs, a market maker and Web3 investment firm has launched the $20 million Cloudbreak Fund to support projects and founders in Chinese-speaking regions.

Singapore investor Temasek expects India's growth to remain firm over the next two years, driven by infrastructure-led capital expenditure, and a recovery in private consumption.Temasek on Tuesday reported an SGD 7 billion rise in its Net Portfolio Value (NPV) to SGD 389 billion for the financial year ended March 31, 2024, mainly driven by gains to the US and India investments. India has continued to see strong economic momentum alongside improving macro and political stability, the company said in a statement.

The Singapore Exchange (SGX) is currently not having any plans to allow for crypto listings, per a Reuters’ report.

MUMBAI : Temasek, the private equity (PE) arm of the Singapore government, is the front runner to acquire significant minority stake in Tynor Orthotics, a Mohali, Punjab-based medical equipment maker, according to three people with knowledge of the development. The manufacturer and exporter of orthopaedic and fracture aids, which is backed by consumer-focused PE firm Lighthouse Funds, is being valued at ₹3,000 crore, three people with knowledge of the development said. “The final bids have come in and Temasek is the front runner," the first person cited above said on condition of anonymity, adding that the other bidders who made it to the final round include global PE firms Warburg Pincus and Norwest Venture Partners.

ONGC Videsh Ltd (OVL), the overseas arm of state-run explorer Oil and Natural Gas Corp. (ONGC), is raising $800 million through a five-year loan from three domestic banks, people familiar with the matter said. The loan is likely to be priced at 120 basis points above the three-month international benchmark Secured Overnight Financing Rate (SOFR), the people said. «Three banks, state-owned Bank of Baroda (BoB), private sector Axis Bank and Singapore-based DBS Bank are the mandated lead arrangers for this loan which is now being syndicated to other banks. Bankers will go on a roadshow to Singapore and Taipei later this month to broaden the scope of lenders in this deal,» said one of the persons cited above.

Delhi High Court has rejected a petition against the Competition Commission of India's last year’s order that approved the merger of Tata SIA Airlines, which operates under the brand name Vistara, with Air India. Tata SIA Airlines is a joint venture between Tata Sons and Singapore Airlines. While one Captain Deepak Kumar, a former Air India pilot, had alleged cartelisation and bid rigging in the merger of the two airlines, the antitrust watchdog had in December dismissed his plea, noting the absence of any substantive evidence to back the allegations.

Boeing’s 737 Max is a more fuel-efficient version of the American aerospace company’s popular 737, the best-selling airliner ever

penny stock: a 1,200% surge punctuated by two crashes of more than 40% — all in the span of less than nine months. But PT Barito Renewables Energy is Indonesia’s biggest company by market capitalization — an $85 billion geothermal power producer controlled by one of the country’s richest tycoons. Barito’s wild swings – the most extreme among companies worldwide valued at $50 billion or more based on 30-day volatility – have perplexed professional analysts, stoked fevered trading among retail investors and challenged regulators’ attempts to bring more order to an increasingly volatile market.

Gold slipped after the biggest weekly advance in three months, with central-bank purchasing patterns in focus.

Experion Developers has acquired a 7.81-acre plot at Dwarka Expressway in Gurugram for Rs 400 crore to capitalise on the flourishing market for premium residential properties. It plans to invest an additional Rs 2,000 crore to build 3 million sq ft of luxury homes in the new land parcel. The wholly owned Indian subsidiary of Singapore's Experion Holdings Pte Ltd had in the last one-and-a-half years acquired five plots worth Rs 2,100 crore, mainly in Gurugram, where it is in the process of launching new projects. «The land is in Sector 88A Gurugram and we are expected to launch the project in this financial year. We are expecting Rs 3,700 crore revenue from the project,» said BK Malagi, COO at Experion Developers.

It is employment-pass renewal season in Singapore and the new regime dominates after-work conversation on Fridays. From September, overseas employees on a work visa will need to fulfil the city-state’s new points-based system, and earn a minimum salary threshold to stay in their jobs. While this mirrors what happens in other countries, it risks turning foreign companies away and could tarnish the nation’s image as a global business hub.

Central bankers are not born as chronic worriers, but they quickly acquire the trait. They are now spending considerable time fretting about artificial intelligence (AI): Its ability to play havoc with prices, jobs and the security of banking. As gut-wrenching as the meltdown of 2008 was, imagine if a rogue machine turbocharged a market rout.

Alibaba's international e-commerce unit is tapping generative AI-powered tools to help cross-border merchants with translation, content creation and product returns, group vice president Kaifu Zhang said. Speaking on stage at the Next Conference in Singapore, the executive, who heads Alibaba International Digital Commerce's artificial intelligence (AI) initiative, said he was bullish on AI's potential for the company, even in the face of increasing tensions between China and the U.S.

MUMBAI : Mumbai: Some of the world’s largest sovereign wealth funds, including Singapore’s GIC Holdings Pte. Ltd, Abu Dhabi Investment Authority, and Kuwait Investment Authority, have significantly increased their investments in Indian stocks and startups the past few years. These three funds held a collective ₹5 trillion, or nearly $60 billion, in Indian stocks as of 31 March, show data compiled by Mint.

Crypto firm Paxos has received full approval from Monetary Authority of Singapore (MAS) to offer digital payment token (DPT) services.

Mint’s requests for a comment, Lal Sweets’ managing director Prateek Athwani declined to comment on the developments. Founded by Athwani, the Bengaluru-based company has exposure across general trade, modern trade, online marketplace, exclusive airport outlets and the export market. Lal Sweets is known for its ‘signature products’ such as Mysore Pak, Besan Laddoo, Kaju Katli and Dharwad Peda, as per the company’s official website.

Singapore, July 11: Greta Minerals PTE Ltd, part of the Greta Group – a Singapore based company has successfully acquired Lithium and REE (Rare Earth Elements) exploration assets in Western Australia. This marks a significant milestone in Greta Groups’ growth strategy, enhancing its portfolio and expanding its operational footprint in Australia.

MUMBAI : Mumbai: The Reserve Bank of India’s decision to curtail trading in exchange-traded currency derivatives has surfaced an unintended beneficiary some 4,000 km away—the Singapore Exchange, or SGX. Volumes of rupee-dollar futures on the Singapore Exchange have surged since RBI’s restriction—which came into effect on 3 May—crimped volumes on India’s National Stock Exchange. NSE had enjoyed a 94% share in India’s exchange-traded currency derivatives segment.

UPI to pay in Paris' Galeries Lafayette. India's Unified Payments Interface (UPI) has marked a significant expansion with its launch at the Galeries Lafayette flagship store on Haussmann Boulevard in Paris. Following a successful introduction at the iconic Eiffel Tower earlier this year, this move aligns with Prime Minister Narendra Modi's vision to internationalize UPI, an instant payment system developed by the National Payments Corporation of India (NPCI) in 2016. The Indian Embassy in France announced on Thursday, «On July 3, 2024, UPI became operational at the flagship store of the world-renowned Galeries Lafayette in Haussmann, Paris. This extends the acceptance of UPI in Paris following its successful debut at the iconic Eiffel Tower.»

Kriti Sanon has acquired 2,000 sq ft land at realty firm The House of Abhinandan Lodha's premium project at Alibaug in Maharashtra. In a statement, The House of Abhinandan Lodha on Thursday said Sanon has acquired 2,000 sq ft of land in its premium project, Sol de Alibaug, about 60 minutes from South Mumbai by sea. The recently inaugurated MTHL connectivity further enhances convenience, making this project an even more attractive choice for those seeking a sophisticated retreat in Alibaug's real estate landscape. Speaking on her first investment with HoABL, Kriti Sanon said, «Buying land on my own has been quite an empowering journey and I have had my eyes on Alibaug, for a while.»

concert tour of pop sensation Taylor Swift dubbed the Eras Tour, began in March 2023 and will run through December 2024. Swift reportedly makes about $13.6 million for each performance, according to reports from 'Forbes'. This number demonstrates her prominence as one of the most well-known pop music artists of today.