Singapore Financial News

Authorised as a Major Payments Institution, the licence enables Paxos to issue stablecoins in line with MAS’ upcoming stablecoin framework. Singapore becomes the third market, alongside the US and United Arab Emirates, that Paxos and its related entities are approved to issue stablecoins.

The High Court of Singapore has ruled in favor of the Fantom Foundation, ordering the Multichain Foundation, a cross-chain router protocol, to pay $2.1 million in compensation for losses incurred during a 2023 hack.

Bharti Enterprises and Del Monte Pacific Ltd, on Thursday announced Abhinav Kapoor as its new chief executive officer with immediate effect. He will lead the Del Monte Foods senior leadership team across functions and steer long-term strategy for the business, a company statement said. According to Harjeet Kohli, joint managing director, Bharti Enterprises, Kapoor will also amplify focus on the B2B and B2C spaces. Kapoor was previously vice president, sales at VIP Industries, where he was overseeing P&L, multiple channels and sales, the company said in a statement, adding that Kapoor has over two decades of experience in sales and distribution within consumer businesses. He has previously held leadership positions at Cavinkare, Britannia Industries, Mondelez and Marico, the statement said. He succeeds former chief Mahesh Kanchan.

The main topics of the 2nd SEA edition will be:

Invesco has reduced the fair value of fintech company Pine Labs and food delivery firm Swiggy in its books, according to its half-yearly shareholder report filed with the US Securities and Exchange Commission (SEC). As of April 30, Invesco valued Pine Labs at $3.5 billion, compared to $3.8 billion as of January 31, and $4.8 billion as of December 31, 2023.

Asset management companies (AMCs) in Gift City, Ahmedabad, are set for a major boost following a crucial regulatory change by the Securities and Exchange Board of India (Sebi). By eliminating the restrictive 50% cap on investments from Indians abroad in India-focused funds, Sebi has removed a significant hurdle that has long impeded the growth potential of these funds. For years, AMCs faced a stringent requirement: for every dollar accepted from non-resident Indians (NRIs) and overseas citizens of India (OCIs), an equivalent dollar had to be sourced from foreign investors.

Singapore has raised the risk level for digital payment token (DPT) service providers potentially facilitating terrorism financing (TF) from “medium-low” to “medium-high” in its latest update to the terrorism financing national risk assessment.

Japanese tech conglomerate Sony Group has acquired crypto firm Amber Japan, officially debuting into the crypto exchange arena.

Niva Bupa has filed for an initial public offering (IPO) to raise up to Rs 3,000 crore (nearly $360 million), draft papers showed on Monday. The company, majority-owned by British United Provident Fund (Bupa), said it will issue fresh shares worth up to eight billion rupees as part of the offering.

₹12 lakh and ₹20 crore can apply for FSSAI state licence. But for exports, spice manufacturers would need an FSSAI central licence. India cultivates a wide variety of spices, including black pepper, cardamom, cinnamon, cloves, turmeric, ginger, and more.

JSW Infra, Stanley Lifestyles, SAMHI Hotels, Bank Of Baroda, IREDA among others will be in focus due to various news developments. JSW Infrastructure Indicating that the company is still interested in the mega Tajpur deep sea port in West Bengal, JSW Infrastructure Ltd said that it remains open to re-evaluate its strategy for the project.

bifurcation of erstwhile Andhra Pradesh and creation of Telangana in 2014 was an emotional blow. What added salt to the wound was the loss of Hyderabad to Telangana after the bifurcation, leaving Andhra Pradesh without a capital. Naidu, who became the first chief minister of Andhra Pradesh, announced the creation of a new capital, promising to build a smart city.

Titan Company on Saturday said it is launching its jewellery brand Tanishq in Bangladesh as part of expansion plans in the international market. On Friday, the Tata Group-managed firm signed a JV agreement to this effect with Rhythm Group which will make Tanishq available across the Bangladesh market, according to a joint statement. The joint venture will commence with the opening of the manufacturing facility in Narayanganj, in Bangladesh, it added. Besides the domestic market, Titan is expanding Tanishq's presence in the international market and operates 17 stores across the UAE, US, Qatar, Singapore and Oman.

Graphic detail page.THE GLOBAL cost-of-living crisis that began in 2022 is now so much part of daily life that it is entering the vernacular. “Cozzie livs", British slang for the crisis, was recently named Australia’s word of the year by the Macquarie Dictionary. The latest Worldwide Cost of Living survey by EIU, our sister company, confirms that inflation remains high worldwide: the prices of 200 products and services that it tracks rose by an average of 7.4% over the past year.

₹1.75 lakh (the total savings at the time of its six founders)—was not even a speck on the global IT firmament back then. India was still two decades away from being accepted as the IT services capital of the world. Notwithstanding a bold new policy announced by the Rajiv Gandhi-led government in 1984, which enabled the import of technology for making personal computers in the country, the domestic PC market was minuscule in size, with any real progress hamstrung by opposition from powerful unions in sectors like banking.

MUMBAI: The US-based Fidelity Investments’ funds have offloaded shares in HCL Technologies worth 1,788.27 crore in a block deal on NSE Friday. More than 1.24 crore shares were sold at 1,440.5 each, amounting to 0.46% of the total shares of the company. ICICI Prudential Mutual Fund was the single largest buyer at 1,001 crore, followed by Morgan Stanley Asia Singapore PTE and Citigroup Global Markets Mauritius fund. Shares of HCL Technologies closed 0.42% up on NSE at 1,461 Friday.

mutual evaluation report (MER) that the Financial Action Task Force (FATF) adopted at its meeting in Singapore recognised the Indian government's achievements in fighting money laundering and the funding of terrorism, the finance ministry said. «The MER adopted in the FATF plenary places India in the 'regular follow-up' category, a distinction shared by only four other G20 countries,» the finance ministry said in a statement on Friday. «This marks a significant milestone in the nation's efforts to combat money laundering (ML) and terrorist financing (TF).» The MER assessed the effectiveness of India's measures to combat money laundering, terrorist financing and proliferation financing, as well as its compliance with FATF norms, the intergovernmental body said in a statement on Friday. «India has reached a high level of technical compliance with the FATF requirements and its anti-money laundering and terrorist financing regime is achieving good results,» the FATF noted.

Turkey has welcomed a decision by an international watchdog to remove it from a so-called “gray list” of countries that have not fully implemented measures to fight money laundering and terrorism financing

The site of Tokyo’s famed Tsukiji fish market left empty after it was razed six years ago, will be replaced by a waterfront stadium and glistening skyscrapers according to plans for its redevelopment

Independent credit ratings provider S&P Global Ratings has joined the Monetary Authority of Singapore’s Project Guardian to explore asset tokenization.

Donald Trump's from-the-hip style may start making financial markets volatile again — and that's just fine for a breed of global fast-money traders who thrive on that. With he and President Joe Biden running neck-and-neck ahead of their first debate Thursday night, investors have already been trying to game out how the Republican's return to the White House could affect everything from the electric-vehicle industry to the direction of long-term interest rates.