Singapore Financial News

Vishnu Varathan was on the seventh floor of his office in Singapore’s Asia Square on Thursday when the phones started ringing. The yen was surging and clients wanted to know what was coming next, quickly. 

rival brand when you are an airline CEO? It’s just another day of boarding the flight for AirAsia CEO Tony Fernandes. Taking to Instagram, the entrepreneur revealed that he was unable to book a seat in AirAsia, and so opted to fly with Singapore Airlines flight. Sharing a picture of his seat inside the plane, Fernandes wrote, “No seat on @flyairasia for three flights so had to take @singaporeair.

Atletico Madrid, a top-tier Spanish football team, is apparently getting ready to file a lawsuit against WhaleFin, a cryptocurrency exchange located in Singapore, for failing to pay sponsorship money of forty million euros, which is equivalent to forty-four million dollars. Prior to the 2022–2023 season, the club had reached an agreement with WhaleFin covering a period of five years. WhaleFin was going to be one of the primary sponsors of the club, and it was going to be installed. However, Atletico Madrid asserts that WhaleFin violated the terms of the contract by failing to make the payments that were agreed upon when the deal was signed. As a consequence of this, the club is requesting a compensation amount of twenty million euros, which is twenty-two million dollars.

Nvidia is in advanced talks with Malaysian power-to-property conglomerate YTL on a data centre deal, three sources familiar with the matter said. The potential tie-up would include collaborating on cloud infrastructure, and is likely to be anchored at YTL's data centre complex in the southern Malaysian state of Johor, bordering Singapore, one of the people said.

Zomato: Svf Growth (Singapore) Pte, part of Japan’s SoftBank Group, will sell a 1.1% stake in food-delivery company Zomato Ltd Friday for an estimated ₹1,127.5 crore, or $135 million, as per the term sheet of the block deal. The floor price of the deal is set at ₹120.5 per share, a discount of about 1.1% to Zomato’s Thursday closing price of ₹121.80 on the BSE.

MUMBAI : An arm of Japan’s SoftBank Group is slated to sell a 1.1% stake in food-delivery company Zomato Ltd on 8 December for an estimated Rs1,127.5 crore, or $135 million, as per the term sheet of the block deal. The floor price of the deal is set at Rs120.5 per share, as per the deal terms reviewed by Mint. That’s a discount of about 1.1% to Zomato’s Thursday closing price of Rs121.80 on BSE.

Singapore-based Cake Group, the parent company of crypto platform Bake, is winding up its company and has filed for liquidation.

Singapore’s regulatory body the Monetary Authority of Singapore (MAS)  plans to begin piloting the digital currency “E-CNY” – also known as the digital yuan, in collaboration with China to encourage tourism spending.

UPI will continue to grow at about 60% in terms of volume above 2023 UPI transactions; P2M will continue to trend higher than that of P2P transactions; P2M will be about 60% of the total UPI volume," said Mehul Mistry, Global Head-Strategy, Digital Financial Services & Partnerships, Wibmo, A PayU Company. “The forecast for 2024 envisions UPI as a pivotal player in promoting financial inclusivity, offering a convenient and interoperable solution for users nationwide.

SINGAPORE—Chinese internet titan Alibaba Group Holding once seemed invincible. Now, it is stuck in a slump. The e-commerce giant was a major driver of China’s growing consumer economy as it pioneered online shopping in China.

Egyptian authorities say a cargo ship broke down in the Suez Canal and crashes into a bridge over the crucial waterway

Bonds around the world are extending gains on expectations that a wave of easier monetary policy will break out next year as inflation fears evaporate.

KHAVDA: Rising from the bare expanse of the large salt desert that separates India from Pakistan is what will likely be the world's largest renewable energy project when completed three years from now. The solar and wind energy project will be so big that it will be visible from space, according to developers of what is called the Khavda renewable energy park, named after the village nearest to the project site. At the site, thousands of laborers install pillars on which solar panels will be mounted.

By Faith Hung and Rae Wee

SINGAPORE (Reuters) — Nvidia (NASDAQ:NVDA) will continue to develop a new set of products that comply with U.S. government regulations involving exports of high-end chips to China, CEO Jensen Huang said on Wednesday.

By Ankur Banerjee

Shifting to renewable energy is a key issue at the ongoing COP28 climate summit

(Corrects paragraph 9 to say U.S. job openings data will be released at 1500 GMT, not 1530 GMT. The error was also in previous editions of this story)

Canada remains a chronic underachiever. Our economy contracted by 1.06 per cent quarter-over-quarter in the third quarter, while the United States economy grew by 5.2 per cent. The European Union and Australia also saw modest economic growth.

DigiFT, a decentralized exchange for digital assets, has obtained a capital markets services (CMS) license from the Monetary Authority of Singapore (MAS). 

By Rae Wee