Singapore Financial News

MUMBAI : The Indian Institutes of Technology (IITs) are bracing for a sobering placement season. For the thousands of to-be engineers in the class of 2024, the number of hirings is likely to taper, even while salaries may not fall much. “This year, we added more companies, but there is a 20% dip among the regular recruiters since many say they had over-hired last year.

bond investments, according to a report published on Thursday. The slippage follows two years of strong asset growth, with the funds also grappling with a rise in real interest rates, according to the report by OMFIF, Official Monetary and Financial Institutions Forum. OMFIF analysed data from the annual reports of the world's 50 largest public pension funds and 50 biggest sovereign funds. It also drew on surveys and contributions from 22 global public pension funds, including Singapore's GIC and Canada's CDPQ. A net 13% of survey respondents expected to reduce their real estate and conventional government bond holdings in the next 12-24 months, with funds looking, in contrast, to add inflation-linked debt and commodities, the report said. In emerging markets, nearly 40% of surveyed funds saw India as the most attractive market.

Green Hydrogen and Green Energy Sector across the VGGS Roadshows and Delegation Visits. To incentivize investments in the green hydrogen domain, the Government of Gujarat has introduced a land allotment policy offering benefits to companies engaged in green hydrogen projects.

Geneva, New York and Hong Kong, the Economist Intelligence Unit (EIU) said on Thursday as it cautioned that the global cost-of-living crisis was not yet over. On average, prices have risen by 7.4% year on year in local currency terms for over 200 commonly used goods and services, a drop from the record 8.1% increase last year but still "significantly higher than the trend in 2017-2021," it said in a report.

climate summit convened by the UN, COP28 , which opens in Dubai on November 30th, one group is sure to have an outsize voice. These are the small island developing states (SIDS). Their club numbers just 39 full members and 18 associates.

The first phase followed the creation in 2020 of a new regulator, the International Financial Services Authority, which outlined an ambition to create a welcoming place where India-centric trading that’s moved to Dubai, Mauritius or Singapore can return home. K Rajaraman, who took charge as chairman of the IFSCA in August, spoke with Bloomberg News about the outlook for GIFT City. The interview is lightly edited for clarity: How has GIFT developed since the creation of the IFSCA? GIFT City started in 2007 as a completely greenfield experiment when PM Modi was the chief minister of the state of Gujarat. In 2020 the government created the IFSCA as a unified regulator.

Ant Group sold a 3.4% stake in Zomato for ₹3,337 crore on Wednesday through a series of deals on the exchanges. According to BSE bulk deals data, Alipay Singapore Holdings, an entity of the Ant Group, sold 297 million shares at ₹112.70 per share. Zomato's shares ended 2.55% higher at ₹116.70 on the BSE on Wednesday. As of September 30, 2023, Alipay Singapore Holdings held a 3.44% stake.

Crypto firm Paxos has secured in-principle approval from Abu Dhabi’s regulator on two fronts: to issue stablecoins and conduct digital asset services.

MUMBAI : Lenders to Go First plan to scout for litigation finance to bring home up to ₹12,000 crore tied up in various lawsuits, two people aware of the development said, as the bankrupt airline stares at likely liquidation. The amount includes an arbitration award that it won against engine maker Pratt & Whitney at the Singapore International Arbitration Centre (SIAC) earlier this year, as well as several other lawsuits under way.

Last week brought several major developments on the crypto regulation front. Binance founder Changpeng Zhao pleaded guilty to criminal charges in the U.S. and now faces up to 10 years in prison. Meanwhile, Grayscale submitted an updated prospectus for converting its Bitcoin Trust into a spot ETF, fueling hopes that approval may be close. Overseas, Singapore announced tighter regulations to protect crypto consumers, including banning crypto ads and incentives. Finally, ECB President Christine Lagarde revealed her son lost most of his crypto investments, reinforcing her skeptical stance.

Crypto firm Paxos has secured two in-principle approvals from the Financial Services Regulatory Authority in the Abu Dhabi Global Market.

An ongoing crypto donation campaign dedicated to improving the lives of children worldwide has received over $7.6 million to date, half of which was donated in Ether (ETH). 

This is the view of Ravi Menon, retiring head of the Monetary Authority of Singapore (MAS) who belives he is not the only one on the way out.

Zipmex has put forward a new proposal to repay creditors, initially offering 3.35 cents for each dollar of their claims as part of its restructuring efforts, according to Bloomberg.

Embattled Thai crypto exchange Zipmex is offering its creditor 3.35 cents per dollar of initial claims with further payouts in a recovery scenario. The proposal came as a part of the restructuring offer from a company that owes its customers $97 million. 

By Yuka Obayashi and Muyu Xu

Shein has a lot of work to do to convince skeptics that the runway is clear for it to launch an initial public offering next year. The Singapore-headquartered company filed confidentially for a listing in New York, a person familiar with the matter has said, weeks after Bloomberg News reported that it could seek a valuation of as much as $90 billion in a first-time share sale.

By Rae Wee

Fashion company Shein has confidentially filed to go public in the United States, according to two sources familiar with the matter, in what is likely to be one of the most valuable China-founded companies to list in New York.

Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news. __________

Executives of banking giants JPMorgan Chase and Apollo revealed plans for a tokenized enterprise mainnet formed during a collaboration on the Monetary Authority of Singapore’s (MAS) Project Guardian pilot project.