Singapore Financial News

PTI's report citing an official, the commerce ministry has sought technical details, analytical reports and the details of the exporters whose consignments have been rejected. Details from Singapore Food Agency and Centre for Food Safety, and Food and Environmental Hygiene Department, Hong Kong have also been sought, the official said.

India, the world's largest producer, consumer and exporter of spices, has sought details from food safety regulators of Singapore and Hong Kong, which has banned certain spices of Indian brands MDH and Everest due to quality concerns. The commerce ministry has also directed Indian embassies in both Singapore and Hong Kong to send a detailed report on the matter. The ministry has also sought details from the Indian firms — MDH and Everest, whose products have been banned for allegedly containing pesticide 'ethylene oxide' beyond permissible limits. «Details have been sought from the companies. Root cause of the rejection and corrective actions will be determined along with the exporters concerned,» a commerce ministry official said.

also initiated quality checks on Everest products on April 22. Also Read | Do MDH, Everest masala cause cancer? Why have Hong Kong, Singapore banned some Indian spices? Explained "Exports are cleared only after receiving necessary clearances and approval from the laboratories of the Spice Board of India. Singapore held only one of 60 Everest products for examination," company director Rajiv Shah said.

InterGlobe Enterprises and technology industry veteran C P Gurnani have come together to launch an artificial intelligence business venture AIonOS. The joint venture was announced by Rahul Bhatia, Group Managing Director of InterGlobe and Gurnani, Executive Vice Chairman of AIonOS in the national capital on Tuesday. InterGlobe is a diversified group with focus on travel, transportation, logistics and hospitality. The country's largest airline IndiGo is part of it.

Karnataka Milk Federation, the state-owned dairy cooperative federation with brand name 'Nandini', will sponsor Scotland and Ireland cricket teams in the 2024 T20 World Cup — a move which has come under criticism in some quarters. «Yes, we are sponsoring them. They are going to display our brand during the matches,» KMF Managing Director M K Jagadish told PTI on Sunday. He said the decision was taken to make Nandini a global brand. «We already have stores in the Middle East. Our presence is in Singapore as well. We are selling our sweets in America,» Jagadish explained. Information technology industry veteran and former Chief Financial Officer of Infosys T V Mohandas Pai criticised the move. In a post on 'X', he said: «What a big shame!Why are they using the money belonging to the farmers of Karnataka, paid by consumers who are kannadigas, to sponsor foreign teams? What value will it deliver? Pay poor farmers better. @siddaramaiah @DKShivakumar this is a waste for a largely Karnataka based co/op!»

Baltimore's mayor and city council are calling for the owner and manager of the cargo ship that took down the Francis Scott Key Bridge to be held fully liable for the deadly collapse

NEW DELHI : India's top food regulator, the Food Safety and Standards Authority of India (FSSAI), will conduct sampling of major spice and infant nutrition brands in India, a senior government official said requesting anonymity. The move follows two separate reports of alleged food violations by brands in spices and infant nutrition categories. FSSAI has deployed state food commissioners and issued orders for samples of major spice brands to be taken from their manufacturing units pan-India, the official said.

The uber wealthy live a world apart and their investing strategies also look vastly different from the average investor's portfolio.

Singapore-based payments company Triple-A has announced plans to integrate PayPal’s stablecoin into its  list of  supported tokens for customer payments.

Dharmesh Shah, Head-Technical, ICICI Direct, says “Reliance is a pure proxy play on oil and gas and telecom. We believe this stock, after witnessing a sharp move from Rs 2,800 to Rs 3,000, has been consolidating in a strong bull candle for a long time. Once things get settled in the market, we should see a primary uptrend for Reliance, where Reliance can be considered for a target of around Rs 3,050, keeping a stop loss of Rs 2,790. Bharat Dynamics has been consolidating for the last five weeks. We remain positive on Reliance and BDL in the near term.” How did the setup look? Did it look like there was a breakdown in the first place or were you already getting a sense that today's dip will be bought? What are you recommending your clients today after looking at the price action that has happened in the first half of the session today? Dharmesh Shah: In the morning, it was a very panic-type situation. The Singapore Nifty opened a gap down of about 300-400 points. Historically, when such events come, once the anxiety settles, the market generally has a tendency to move up. We believe once this anxiety gets over, maybe in a week, things should get settled and 21,700, 21,600, like in last month's low should hold.

Russian Ministry of Internal Affairs officials took a $53.2 million Bitcoin and ETH bribe from a crypto exchange executive, a major newspaper in the country claimed this week.

JSW Steel, India's largest manufacturer of the alloy, has raised $900 million from a consortium of eight foreign banks to refinance debt maturing this month and pre-pay some high-cost borrowings. The loan was priced 180 basis points above the international secured overnight financing rate (SOFR) earlier this month, multiple people aware of the details said. One basis point is a hundredth of a percentage point. Eight banks — Singapore's DBS Bank, France's BNP Paribas, UK-based HSBC and Standard Chartered, UAE's Mashreq Bank and First Abu Dhabi Bank, Japan's Sumitomo Mitsui Banking Corp (SMBC) and Taiwan's CTBC Bank — are the joint underwriters for the loan.

A gauge of global chip stocks and AI bellwether Nvidia Corp. have fallen together into a technical correction, showing moderation in the global equity market’s most conspicuous driver over the past year and a half.

Binance  has made a significant strategic move by converting the entire pool of assets held in its emergency fund for users into USDC (USD Coin), a stablecoin issued by Circle Internet Financial. 

The owner of the container ship Dali has initiated a process requiring owners of the cargo on board to share salvage costs after the deadly collapse of Baltimore’s Francis Scott Key Bridge

ZEE Entertainment Enterprises Limited (ZEEL) has withdrawn its application from the National Company Law Tribunal (NCLT) that sought directions to Sony Group Corp-owned Culver Max Entertainment and Bangla Entertainment to implement the composite scheme of arrangement between the three companies. In an official statement issued late on Monday evening, the company said it has withdrawn the implementation application based on the advice received by the board after a detailed consultation with legal experts. Sony and Zee had signed definitive agreements on December 21, 2021 to merge their businesses. ZEEL had filed the application on January 24 after Culver Max and Bangla Entertainment---both India units of Sony Group--terminated the merger agreement on January 22 over an alleged breach of the merger cooperation agreement (MCA), putting an end to the multi-billion-dollar merger deal that had been in the making for more than two years.

Singapore’s incoming leader says Prime Minister Lee Hsien Loong will stay on as senior minister in the government after he steps down next month

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Israel-Iran Tensions Impact: Emerging-market currencies fell to a new low for the year as the dollar extended gains into a fifth day amid heightened geopolitical tensions and after robust US data boosted bets the Federal Reserve will delay interest-rate cuts. Also Read | Israel vows to respond to Iran's drone attack, US military military assets in Middle East | Top 10 updates The MSCI EM Currency Index dropped 0.2% on Tuesday to the lowest since December.

RIL, Jio Financial, JSW Infra, Cipla, Gujarat Gas among others will be in focus due to various news developments. Crisil, SG Mart, Den Networks Shares of Crisil, SG Mart, and Den Networks will be in focus as the companies will announce their fourth quarter results on Tuesday.