Singapore Financial News

After-Hours Stock Movers:

MUMBAI : Zee Entertainment Enterprises Ltd on Wednesday dragged Sony Pictures Networks India (now Culver Max Entertainment Pvt. Ltd) before the National Company Law Tribunal (NCLT), following the inglorious end to their two-year engagement. The Punit Goenka-led firm moved the tribunal seeking directions to implement the merger, while also initiating legal action to contest Culver Max and Bangla Entertainment Pvt.

Global macro investing is a tough business.  Your position sizes are big, and they’re often leveraged.  And “relative value” trades have the nasty property that sometimes the “cheap” side gets cheaper while the “expensive” side gets more so, leaving you with a “hedge” position that’s losing money at double the speed.

Western Australia is keen to have direct air connectivity with India as well as expand cooperation in the area of critical minerals, its Deputy Premier Rita Saffioti said on Wednesday. Promoting tourism to Western Australia was the priority talking point for the Deputy Premier as she concluded a delegation-led mission in Delhi. A delegation visit is also scheduled for January 25 in Chennai.

By Joe Cash

Competition Commission of India (CCI) on January 23 approved JSW Ventures Singapore's acquisition of up to 38 percent of MG Motor India, as per an order statement. "The Commission approved the acquisition by JSW Ventures Singapore Pte. Limited (Acquirer), for up to approximately 38% of the share capital of MG Motor India Private Limited (Target).

promoter of the second-largest pharmacy retail chain MedPlus Health Services, is set to refinance the debt held by private equity firm Warburg Pincus, said sources familiar with the matter.

PCBL Ltd, formerly known as Philips Carbon Black Ltd, is raising funds from DBS Bank to part-finance its proposed acquisition of Aquapharm Chemicals, said people with knowledge of the matter. The Singapore-based bank has committed Rs 210 crore and will be the anchor investor in PCBL's Rs 700 crore proposed bond issue, the people cited above said. Stock exchange-listed PCBL Ltd announced the acquisition of Aquapharm Chemicals Pvt Ltd last November for Rs 3,800 crore.

Terraform Labs has filed for Chapter 11 bankruptcy protection, less than two years after a collapse of the company’s cryptocurrency devastated traders around the world

Science and Technology Minister Jitendra Singh made the announcement here in the presence of NITI Aayog member V K Saraswat, Principal Scientific Advisor A K Sood and Department of Science and Technology (DST) Secretary Abhay Karandikar. The VAIBHAV or Vaishvik Bhartiya Vaigyanik fellows are from the topmost institutes of Australia, Canada, Finland, Japan, Singapore, Sweden, Switzerland, the UK and the US, and will work with Indian institutes such as IISc, IUCAA and the IITs for the next three years on jointly identified projects.

Tata Electronics-Wistron deal. This proposed combination involves the acquisition of 100 per cent equity share capital of Wistron Infocomm Manufacturing (India) Private Limited by Tata Electronics Private Limited.

BENGALURU : Eruditus, founded in 2010 by Chaitanya Kalipatnapu and Ashwin Damera and headquartered in Singapore, is evaluating if it would be feasible for the executive education startup to move its base to India to capitalise on growing opportunities in the market. “It is a fact that the Indian stock markets are far more attractive than the global peers," said Damera in an interview with Mint. “Sometime in the future we will have to figure out how to give an exit to the investors.

By Vidya Ranganathan and Alun John

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Terraform Labs, the issuer of the collapsed stablecoin TerraUSD (UST), has filed for Chapter 11 bankruptcy protection in the United States.

Terraform Labs, the company behind the stablecoin TerraUSD, which collapsed and roiled cryptocurrency markets, filed for Chapter 11 bankruptcy in the United States, according to court papers filed on Sunday. Singapore-based Terraform labs, in a filing with the bankruptcy court in Delaware, listed assets and liabilities in the range of $100-$500 million.

Billionaire businessman David Rubenstein argued at the World Economic Forum former President Trump has a clear shot at victory.

Chinese equities have continued where they left off in 2023 with the Hang Seng Index (HSI) already down 8% in the new year. China stocks extended their decline as disappointing economic data and Premier Li Qiang's comments on avoiding massive stimulus weighed on the market.

HS Prannoy is enjoying the best phase of his career and would be one of the dark horses at the Paris Olympics, reckons Denmark's head coach Kenneth Jonassen. Prannoy had a phenomenal season in 2023, winning a maiden bronze medal at the Asian Games and World Championships, and also sealed his first super 500 title at the Malaysia Masters besides finishing runner-up at Australia Open. Jonassen, who has coached the likes of world no.

Bitcoin slid to the lowest since mid-December as the speculative demand for the token sparked by hype about new exchange-traded funds dissipates, leaving the cryptocurrency in the red since the start of 2024. The largest digital asset briefly flirted with a drop below $40,000 before trading at $41,160 as of 6:30 a.m. Friday in Singapore, a decline of 3% in the past 24 hours. Smaller tokens like Ether, Solana and Polkadot also struggled. Bitcoin surged 157% last year on optimism about the eventual Jan. 11 launch of the first US exchange-traded funds to directly hold the token. Digital assets also got a tailwind from bets on looser monetary policy. Traders are now assessing how much money the ETFs attract and paring expectations for interest-rate cuts. “This type of correction after a significant run-up is normal for Bitcoin,” said Greg Moritz, co-founder at crypto hedge fund AltTab Capital.

Reliance Industries: Mukesh Ambani-owned Reliance Industries Ltd will announce its December quarter (Q3FY24) results on 19 January, Friday. The oil-to-telecom conglomerate is expected to report a 9.3% year-on-year rise in consolidated net profit to ₹17,257 crore, aided by a steady performance of its digital and retail businesses. Consolidated revenue for Q3FY24 is likely to rise 5% YoY to ₹2.31 trillion.