Singapore Financial News

US-India ties at the Shangri La Dialogue in Singapore on Saturday, the United States Secretary of Defence, Lloyd Austin said that the relationship with India at present is better than it has ever been, adding that the two nations are co-producing armoured vehicles together.

Singapore: US Defense Secretary Lloyd Austin said Saturday the Indo-Pacific region remained a «priority» for Washington, saying the United States was secure «only if Asia is». Lloyd made the remarks at a major security forum in Singapore, a day after he met with his Chinese counterpart Dong Jun. «The United States can be secure only if Asia is and that's why the United States has long maintained its presence in this region,» Austin told the Shangri-La Dialogue, which in recent years has become a barometer for US-China relations.

Institutional investors have grown tired of paying fees to hedge funds for what they see as “skill-less returns.” 

Singapore, 31st May 2024– WEEX, the futures-friendly trading platform, will officially launch its global ecosystem incentive token WEEX WXT Presale, kicking-off with the WXT “Ribbon-Cutting Event” on June 1st, 2024.

Robert F. Kennedy Jr. (RFK Jr.) says he bought 21 bitcoins for his children after winning a $13 billion case against biotech giant Monsanto, the crypto-friendly U.S. presidential candidate told a crowd at Consensus 2024 in Austin, TX this week.

Aurobindo Pharma on Friday said its wholly owned subsidiary TheraNym Biologics Pvt Ltd (TheraNym) has entered into a master service agreement with Merck Sharpe & Dohme Singapore for contract manufacturing of biologicals. TheraNym is an affiliate of another Aurobindo Pharma subsidiary CuraTeQ Biologics Pvt Ltd. The master service agreement, inked effective May 31, 2024, will see TheraNym contract manufacture biologicals for the domestic and international markets.

dollar steadied against peer currencies on Friday after a downward revision to U.S. GDP for the first quarter suggested room for the Federal Reserve to cut interest rates this year, while investors braced for a key inflation report. Official data showed overnight that the U.S. economy grew at an 1.3% annualised rate from January through March, down from the advance estimate of 1.6% after downward revisions to consumer spending.

India’s expanding defence role and partnerships in Indo-Pacific region will likely further contribute to the increasingly competitive nature of India–China relations, pointee out International Institute of Strategic Studies (IISS), leading international think tank in its recent report. The 11th edition of the International Institute of Strategic Studies (IISS) Asia-Pacific Regional Security Assessment (APRSA) released on the occasion on Shangrila Dialogue beginning on Friday in Singapore noted, “For India, being a ‘preferred security partner through defence partnerships, from combined exercises to arms transfer, increases its regional presence, which in turn enhances its influence with Asia-Pacific countries while countering Beijing’s regional influence. India’s defence engagement is and will continue to be focused on the Indian Ocean region, although it is working to increase its presence in Southeast Asia and the Pacific Ocean. India’s expanding defence role and partnerships will likely further contribute to the increasingly competitive nature of India–China relations.’’ It may be noted that India has stepped up its maritime security partnership across SE Asia including deputing Navy ships to the region regularly.

institutional sellers have sold up to a 5% stake in CarTrade Tech, a multi-channel auto platform company, on Friday for a consideration of around Rs 200 crore ($24 million) through a block deal, according to a source familiar with the matter. ET has learned that some of the institutional investors had placed around 2.2-2.3 million shares of the company on the block. Axis Securities was the banker to the trade. An email sent to the company and Axis Securities remains unanswered as of press time.

Interglobe Aviation, which operates India's budget IndiGo airlines, has run trials on a new software related to passengers' safety and comfort, and is evaluating its in-flight safety announcements, the airline said on Friday. The airline is planning to launch another trial in the next two to three weeks for the safety and comfort-related software it tested, for its Airbus fleet, it added. A week back, an IndiGo flight headed to the northern Indian city of Jammu was forced to land in the city of Amritsar — roughly 210 kilometres (130.5 miles) away by road — after turbulence and adverse weather conditions in Jammu.

Brookfield Asset Management Inc. is in exclusive talks to acquire a majority stake in Neoen SA with a view to launch a takeover offer that would value the French renewable energy developer at about €6.1 billion (US$6.6 billion).

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DBS, Singapore’s largest bank, has been identified as a major holder of Ether (ETH), according to on-chain analytics firm Nansen.

Lab-grown meat is not currently available in any U.S. grocery stores or restaurants

Since 2020, MarketNode and HSBC have jointly participated in MAS’s Project Guardian initiative, Singapore’s fund settlement infrastructure Fundnode, and several digital bond initiatives.Rehan Ahmed, president, Marketnode, comments: "HSBC’s support represents the natural extension of our collaboration across multiple asset classes since Marketnode’s inception. The marriage of Marketnode’s FMI operational expertise and HSBC’s market leading global platform represents a unique opportunity to shape the next generation of trusted and neutral market infrastructure.

A preliminary investigation says the Singapore Airlines plane that ran into turbulence last week went through huge changes in gravitational force, leaving one passenger dead and many others injured

John F Kennedy International Airport in New York to the Changi International Airport in Singapore, have you ever wondered which is the shortest flight operated and in which sector of the world? The answer is a flight between two Scottish Orkney islands. This flight is operated by Loganair and the flight travels between Westray and Para Westray and this is operated in about one and a half minutes. Details

NEW DELHI:Tata Steel Ltd will invest ₹17,408 crore ($2.11 billion) in its Singapore unit, T Steel Holdings Pte Ltd, to fund the restructuring of its struggling UK business as well as repay the debt of its offshore entities.Tata Steel will also be writing off $565 million of existing debt to T Steel, converting it into equity shares, Asia’s oldest steelmaker said in regulatory disclosures on Wednesday. The investment in T Steel, a holding company for the shares of Tata Steel’s overseas subsidiaries, will be done over the course of 2024-25.Tata Steel reported a 65% year-on-year decline in its consolidated profit, to ₹554 crore, for the quarter ended 31 March, missing Street estimates.

private equity firm General Atlantic Singapore is likely to sell up to 6.8% equity in KFin Technologies at an estimated floor price of Rs 712.5 per share, which is a 4% discount. The total deal size, including the green shoe option, is 1.17 crore, moneycontrol.com reported, citing CNBC TV18. The base issue size is set at Rs 500 crore and can be upsized to Rs 833.3 crore, the report said citing sources.

A Singapore Airlines flight makes an emergency landing after reported extreme turbulence and one passenger dead. (Credit: Viral Press)

NEW DELHI:Universal VulKaan Aviation, a Singapore-based company, is set to venture into India as its next growth market, aiming to sell over 30 helicopters within the next three years, senior officials told Mint in an interaction.This ambitious plan, which includes both pre-owned and new helicopters, is set to reshape the country's helicopter landscape. The company, a distributor for Leonardo helicopters in India, has already engaged in discussions with private charter companies and state governments, they added."The helicopter market in India has not reached its full potential, with only 250 machines in operation," said Harinder Jeet Singh Commar, partner at Universal VulKaan Aviation.