Singapore Financial News

Schengen visa was denied, a woman from the Philippines eventually got it after she persuaded the authorities that she would depart Schengen territory before the visa expired because she had tickets to Taylor Swift's concert in Singapore in March. In a post on Reddit, the woman narrated the whole incident and wrote, “I just wanna share that I got denied in my first attempt. The comment was that they don't think I'll leave the Schengen territory before the visa expires." “So when I reapplied, I said that I'd leave because I would attend Taylor Swift's concert in Singapore and attached the mail confirmation," she said.

Tata Electronics is reportedly to sign a Memorandum of Understanding (MoU) worth a whopping Rs 12,082 crore with Tamil Nadu Government. The MoU is likely to be signed at Tamil Nadu Global Investors Meet 2024 in Chennai which was inaugurated by state's Chief Minister M. K.

₹2,300 crore. Singapore and its companies will strengthen economic cooperation with the state of Gujarat. This will be through expanded investments in Gujarat's green economy and sustainability sector.

The Airports Authority of India (AAI) and Delhi International Airport Ltd (DIAL), the operator of the Indira Gandhi International Airport in the national capital, are locked in a tussle over the development of a proposed air train. This train is designed to connect the airport’s three terminals, its cargo hub, and Aerocity, a zone hosting numerous hotels and office complexes. Two key issues dominate the debate: the project's financing and the number of stops the air train should have.

Ant Group is closing in on a deal to buy Dutch payments firm MultiSafepay as part of the Chinese financial technology group's latest push into Western payment markets, people familiar with the matter told Reuters. The transaction, which is subject to regulatory approval, is expected to value MultiSafepay at around $200 million, one of the people said. It generates $50 million in revenue, the person added, speaking on condition of anonymity.

Karnataka makes Covid test mandatory for patients with respiratory illnesses Singapore's OneCare Medical also saw Covid-19 cases stabilising across its 38 clinics. It said cases are less likely to go up significantly again in the near term. “We feel that the ARI (Acute Respiratory Infection) has already peaked, so we should see the numbers stabilise and probably slowly come down over the next few weeks, back to the usual baseline numbers," CNA quoted CEO of OneCare Medical Dr Jimmy Chew.

Marico Q3 Update: Domestic volumes see low single-digit growth amid weak rural demand; details here Titan reported a robust 21 percent growth in domestic sales for its jewelry division, attributed to a substantial increase in the number of buyers and a modest improvement in average selling prices. “ Suitable investments in exchange programs and consumer offers were carried out during the festive period to maintain growth momentum. Wedding segment contribution improved marginally YoY," the company said.

Marico Bangladesh Ltd. Musthafa will be responsible for global expansions, building food-tech capabilities and strategic acquisitions. As part of its growth strategy, iD Fresh will also appoint dedicated business heads and CEOs for each International market.

Convicted Malaysian defense contractor Leonard Francis who led a daring escape weeks before he was scheduled to be sentenced in 2022 is seeking new defense attorneys now that he is back in U.S. custody after the Venezuelan prisoner swap last month

iD Fresh Food on Friday announced the appointment of industry veteran Rajat Diwaker as its India CEO. Rajat comes with two decades of experience in the FMCG industry. In his last role, he served as the Managing Director of Marico Bangladesh.

Investing.com -- Shipping giant Maersk (CSE:MAERSKb) has said it would divert its vessels away from the Red Sea region for the «foreseeable future» in response to «significantly elevated» security risks posed by recent attacks by Yemen's Iran-backed Houthis.

SINGAPORE (Reuters) — Oil prices edged higher on Friday after minutes from a Federal Reserve meeting suggested inflation was under control and as U.S. Secretary of State Antony Blinken prepared to visit the Middle East to prevent escalation in the Israel-Gaza conflict.

crypto stablecoins, which advertise tranquility in an ocean of tumult, have hardly lived up to their billing. Not one out of the 68 tokens studied by researchers at the Bank for International Settlements has managed to stay on its peg at all times. Tether and USD Coin, the two largest players, reference their values 1:1 to the dollar, which enables them to act as a bridge of sorts between virtual and real-world representations of money. However, they have very little use outside the domain of crypto trading. For the broader population that doesn’t dabble in Bitcoin or Ether, keeping money in a bank that has deposit insurance has always been a safer option. And yet, despite their well-known infirmities, more stablecoins keep coming. Regulators, too, seem to be more receptive to having them around, despite spectacular blowups like when TerraUSD breached its $1 price target in May 2022 and wiped out about $500 billion from cryptocurrency markets. Circle’s USD Coin briefly lost its peg during the US regional banking crisis of 2023. Still, Hong Kong put out a proposal last week to license stablecoins. Singapore has already announced similar intentions. It’s very likely that before the end of 2024, the two financial centers will have come up with rules that US lawmakers have failed to adopt after three years of efforts.

By Ankur Banerjee

In the year 2022, Three Arrows Capital (3AC), which had previously been a well-known brand in the bitcoin hedge fund industry, was confronted with a catastrophic failure. This decrease was not simply a single occurrence; rather, it was a trigger in a chain of domino events that occurred, which caused the cryptocurrency market to be shaken. The court in the British Virgin Islands has taken quick action by freezing assets associated to the fund's founders, Su Zhu and Kyle Davies, as well as Davies' wife, Kelly Chen, with a potential value of up to $1.14 billion.

The Bank of China has marked a significant milestone in the realm of digital currency with the completion of the world's first cross-border Central Bank Digital Currency (CBDC)-powered precious metals deal. On December 20, 2023, the Bank of China's Shanghai branch successfully conducted a 100 million yuan ($14 million) e-CNY CBDC settlement received overseas for gold via the Shanghai Financial Exchange International Board. This historic transaction underlines the growing acceptance and utility of digital currencies in international trade, especially in the precious metals sector.

By Joice Alves and Rae Wee

By Andrew Hayley and Jeslyn Lerh

By Ankur Banerjee

Vedanta Resources (VRL) have voted in favour of a proposed restructuring of the debt instruments that were due to mature starting later this month, helping metals maven Anil Agarwal stick to financial commitments ahead of a series of planned multiple listings for his operational companies in India in an ambitious value-unlocking exercise. People familiar with the matter told ET that the approval is more than 97% for bonds maturing in 2024, 2025, and 2026. The company had to immediately repay $1 billion debt on January 21.

By Harry Robertson and Rae Wee