Singapore Financial News

Timken Singapore PTE sold shares of Timken India worth 1,956 crore in a block deal on BSE on Tuesday. The promoter sold 50 lakh shares at 3,913.35 apiece. Timken Singapore PTE owned 57.70% stake in the company as of March 31.

Bitcoin fell as traders monitored transfers by wallets belonging to the failed Mt. Gox exchange, whose administrators have been stepping up efforts to return a $9 billion hoard of the largest digital asset to creditors.

BENGALURU:Construction materials platform Infra.Market has raised an additional $50 million from Mars Unicorn Fund, a joint venture of global asset manager Liquidity Group and Japanese bank MUFG.The fund had previously invested $50 million in Infra.Market in 2022. The latest investment is in the Singapore entity of Infra.Market.

Twelve people have been injured when a Qatar Airways plane flying from Doha to Dublin hit turbulence

Bitcoin fell as traders monitored transfers by wallets belonging to the failed Mt. Gox exchange, whose administrators have been stepping up efforts to return a $9 billion hoard of the largest digital asset to creditors. The original cryptocurrency dropped as much as 2.7% and was trading at about $67,840 as of 12:15 p.m. Tuesday in Singapore. The weakness spread to smaller coins, including second-ranked Ether.

₹657.21 crore in March 2024. The quarterly net profit rose by 74.73% to ₹67.13 crore, and EBITDA increased by 68.4% to ₹108.38 crore.Sensex Today Live : The company reported a 128% jump in profit to ₹22.2 crore from ₹9.7 crore the previous year.

CNBC-TV18 reported.During the recent earnings conference call, IndiGo's CEO Pieter Elbers revealed the airline's foray into the business class segment. "We will have business class seats deployed on India’s busiest and business routes," CNBC-TV18 quoted an Indigo official.Thus, as per media reports, business class seats will be available on India's most prominent airlines, with 10 to 15 aircraft operating on major domestic metro routes.

₹1,775 crore, as per a term sheet obtained by Mint.The promoters are offering to sell up to 5 million shares, with a total deal value estimated to be around ₹1,775 crore ($213 million). The shares are being offered at a floor price of ₹3,550 per share, representing a discount of 10.2% compared to Timken India's closing price of ₹3,951.5 on the NSE on Monday.Spokespersons of Bank of America, which is managing the stake sale, did not respond to Mint's request for comment.Currently, Timken Singapore holds a 57.7% stake in Timken India, which manufactures anti-friction bearings, primarily tapered roller bearings, and mechanical power transmission products for customers in diverse sectors.This is not the first time that Timken India's promoters are exploring a stake sale.

India and Indonesia, whose populations are growing at a solid pace, stand to benefit as demographics begin to play a bigger role in investment decisions, according to Fidelity International and BlackRock Investment Institute.The investors are focusing on the two nations in emerging Asia, thanks in part to an expected boom in infrastructure spending, which in turn bodes well for the countries’ economies. Both India and Indonesia coincidentally had elections this year, showcasing to the world their ambition to transition into major economic powerhouses with their dynamic population a key strength.

genocide. Over 100 days in 1994 masses of the majority Hutu population slaughtered hundreds of thousands of their countrymen, mostly from the minority Tutsi group. In these annual speeches Mr Kagame offers glimpses of why he is Africa’s most polarising leader.

India has recorded a trade deficit, the difference between imports and exports, with nine of its top 10 trading partners, including China, Russia, Singapore, and Korea, in 2023-24, according to official data. The data also showed that the deficit with China, Russia, Korea, and Hong Kong increased in the last fiscal compared to 2022-23, while the trade gap with the UAE, Saudi Arabia, Russia, Indonesia, and Iraq narrowed. The trade deficit with China rose to USD 85 billion, Russia to USD 57.2 billion, Korea to USD 14.71 billion and Hong Kong to USD 12.2 billion in 2023-24 against USD 83.2 billion, USD 43 billion, USD 14.57 billion and USD 8.38 billion, respectively, in 2022-23. China has emerged as India's largest trading partner with USD 118.4 billion of two-way commerce in 2023-24, edging past the US.

PV Sindhu's wait for a much-needed title extended further as she faltered in the finishing line, going down in three games to world no. 7 Wang Zhi Yi of China in the summit clash on Sunday. Fifth seed Sindhu, a double Olympic medallist, last won the Singapore Open and Commonwealth Games in 2022 and finished runner-up at the Madrid Spain Masters in 2023. The title here looked within her reach when world no. 15 Sindhu held a massive 11-3 lead in the decider after winning the opening game but the former world champion imploded after the final change of sides to go down 21-16 5-21 16-21 in a 79-minute women's singles final. The title would have been an icing on the cake but her impressive run to the final will still give her a lot of confidence as Sindhu looks to put the finishing touches ahead of the Paris Olympics. It was her first final on BWF world tour after more than a year.

private-equity firm Venturi Partners is considering raising a $75-100 million fund in India to invest in local consumer-focused growth-stage companies, managing director Rishika Chandan said in an interview. The fund, likely to be launched later this year, will be pooled from top family offices in India, Chandan added.“The intention is to give access to Indian families that want to be part of this platform and get access to growth-stage consumer companies because most funds in India [invest mainly in] early-stage [companies]," Chandan said.According to her, there are several India-focused generalist funds investing in growth-stage consumer companies but not many that cater exclusively to families.

FSSAI has also advised that all activities related to the commercialisation of human milk and its products should be stopped.In an advisory dated May 24, titled ‘Advisory on Unauthorized commercialization of human milk and its products’, the FSSAI said that it is in “receipt of representations from various registered societies regarding commercialization of human milk and its products".It added that the FSSAI “has not permitted the processing and / or selling of human milk under FSS Act, 2006 and rules/regulations made there under."“Therefore, it is advised that all such activities related to the commercialization of human milk and its products should be immediately stopped.

COVID-19 pandemic has erased almost ten years of advancements in enhancing life expectancy in just two years.In an official statement, WHO said, “From 2019 to 2021, the global life expectancy declined by 1.8 years to reach 71.4 years, returning to the level seen in 2012. Similarly, the global healthy life expectancy decreased by 1.5 years to 61.9 years in 2021, also reverting to the level observed in 2012."Also Read: India sees 324 cases of KP.1, KP.2 variant driving Covid-19 in Singapore, Maharashtra tops with 148The 2024 report also underscored the unequal impact felt across the globe.

Singapore International Airlines Flight from London to Singapore, the airline has tightened certain rules dealing with turbulences. The incident which left one British citizen dead and more than 100 passengers injured in different states had prompted a safety review by the airline and other major airlines across the world.

Singapore Airlines says it will halt meal services and get all cabin crew to buckle up when planes fly through turbulence as part of tighter cabin measures after one person died and dozens were injured on a flight from London this week

Singapore Airlines flight hit by deadly turbulence this week said on Friday they had only seconds to react before the plane started to plunge. One passenger died and more than 100 were injured when the Boeing 777-300ER fell 1,800 metres (6,000 feet) in just a few minutes during the final hours of its journey from London to Singapore on Tuesday.

Reuters reported on Friday.In a statement to Singapore broadcaster Channel News Asia, the airline said it will now refrain from serving hot drinks or meals when the seatbelt sign is on.The SQ321 London-Singapore flight on a Boeing 777-300ER plane carrying 211 passengers and 18 crew diverted to Bangkok for an emergency landing on Tuesday after the plane was buffeted by turbulence that flung passengers and crew around the cabin, slamming some into the ceiling, the Reuters report added.Flight SQ321 has since modified its route, avoiding the area of turbulence encountered during the incident.Here are the top eight updates from the Singapore Airlines turbulence incident: Milestone Alert! Livemint tops charts as the fastest growing news website in the world

China conducts war games near Taiwan to test ability to seize power | 10 updatesGan’s remarks come as China started its most expansive military drills in a year around Taiwan, ramping up pressure on Lai Ching-te just days after he took over as the island’s new president.Taiwan-China standoff and 'punishment' military drills: All you need to know“The US-China relationship is the most consequential in the world but is unfortunately marked by deep suspicion and distrust," Gan said.

settlement window next week is expected to upend trading for Asian money managers, pushing some to secure funds in the early hours of their mornings when currency markets are at their thinnest and most jumpy. From May 28, investors from Singapore, Tokyo or Seoul who buy U.S. shares during the Wall Street day will have just 24 hours to validate their trades and convert their funds into dollars to complete the deals, down from two days previously.