Singapore Financial News

Mint. Alipay’s share sale follows a partial stake sale by Softbank Group in the food delivery aggregator last month where the Japanese investor sold 1.1% stake for ₹1,200 crore. Alipay is selling 296 million shares in the online food delivery company and expects to raise ₹3290 crore or ($395 million).

Singapore’s central bank’s managing director, Ravi Menon, emphasized that private cryptocurrencies falling short of fundamental financial service tests will eventually fade from the monetary scene.

SINGAPORE (Reuters) -Oil prices rose slightly on Tuesday due to a weak dollar, and expectations that the OPEC+ producer group would deepen and extend output cuts due to fears demand would remain subdued.

Investing.com-- Most Asian currencies advanced on Tuesday amid growing conviction that the Federal Reserve was done raising interest rates, which in turn put the dollar at a three-month low.

By Raphael Satter and Diane Bartz

By Ankur Banerjee

central bank digital currencies (CBDC), sources close to the development told ET. An internal Reserve Bank of India (RBI) working group has been exploring the best technology path to develop a roadmap for such direct transactions between two countries. CBDC, or the equivalent of paper money in a digital form, has the potential to be a game-changer, particularly in facilitating cross-border settlements that currently require the Swift platform for routing funds through banks.

Shein, a leading online fashion retailer originating from China, confidentially filed for an IPO in the United States, according to The Wall Street Journal report today, citing people familiar with the matter.

Following his appointment as the new CEO of the world’s largest crypto asset exchange on November 22, Richard Teng has outlined his vision for the platform going forward.

Sembcorp Industries on Monday said it has signed two separate agreements to acquire 428 MW of wind power assets in China and India for 200 million Singaporean dollar (about Rs 1,247 crore). Sembcorp, backed by Temasek Holdings Pte, will acquire 228 MW of operational wind power assets of Leap Green Energy Pvt Ltd for 70 million Singaporean dollar and 200 MW of Qinzhou Yuanneng for 130 million Singaporean dollar, the company said in a statement. With the latest acquisition, the company now has a balanced portfolio of 3.7 GW of renewable assets in India, comprising 2.25 GW of wind and 1.45 GW of solar assets. Last year, the company acquired Vector Green, adding 583 MW of renewable assets to its portfolio. «Sembcorp’s wholly-owned subsidiary, Sembcorp Energy (Shanghai) Holding Co., Ltd, has signed an agreement with Envision Energy Co., Ltd to acquire 100% of the share capital in Qinzhou Yuanneng Wind Power Co., Ltd, (Qinzhou Yuanneng) for an equity consideration of approximately S$130 million[1]. Qinzhou Yuanneng owns 200MW of operational wind assets in Guangxi, China,» the company said in a press statement, adding that separately, Sembcorp’s wholly-owned subsidiary, Green Infra Wind Energy Limited (GIWEL), has signed an agreement with Leap Green Energy Private Limited (Leap Green Energy), an independent power producer in Tamil Nadu, India. «Under the agreement, GIWEL will acquire from Leap Green Energy, 100% of the share capital in two special purpose vehicles (SPVs) for an equity consideration of approximately S$70 million.

Tron. Quicker and cheaper than its larger rival Bitcoin, Tron has overtaken its rival as a platform for crypto transfers associated with groups designated as terror organisations by Israel, the United States and other countries, according to interviews with seven financial crime experts and blockchain investigations specialists.

Israel's fight against the funding of Iran-backed militant groups from Hamas to Hezbollah: A fast-growing crypto network called Tron. Quicker and cheaper than its larger rival Bitcoin, Tron has overtaken its rival as a platform for crypto transfers associated with groups designated as terror organizations by Israel, the United States and other countries, according to interviews with seven financial crime experts and blockchain investigations specialists.

Crypto exchange Zipmex Thailand has announced the immediate suspension of digital asset trading until early next year. 

how to keep artificial intelligence safe from rogue actors, pushing for companies to create AI systems that are "secure by design." In a 20-page document unveiled Sunday, the 18 countries agreed that companies designing and using AI need to develop and deploy it in a way that keeps customers and the wider public safe from misuse. The agreement is non-binding and carries mostly general recommendations such as monitoring AI systems for abuse, protecting data from tampering and vetting software suppliers.

Think-tank GTRI on Sunday suggested that the government study the bilateral free trade agreement with Singapore and as part of the Asean bloc together while reviewing its trade pact with the 10-nation grouping.Singapore is a member of 10-nation Asean bloc with which India has a free trade agreement in goods since 2010. Separately, India also implemented a comprehensive free trade agreement (FTA) with Singapore in 2005.The Global Trade Research Initiative (GTRI) also suggested a similar exercise with Thailand, another member of Association of Southeast Asian Nations (Asean). India signed a limited free trade pact with Thailand in 2006.

BSE) has introduced new guidelines for small and medium enterprises (SMEs) seeking to move to the main board from the SMEs platform. As per the latest guidelines, an applicant firm will be required to have a net worth of at least ₹15 crore for the preceding two financial years to migrate to the main board.

Cryptocurrency exchange Zipmex has announced it is taking immediate action by suspending all digital asset trading in Thailand as part of its efforts to comply with regulations.

Visiting Ayodhya on Saturday, ahead of inauguration of Ram Mandir Gujarat Chief Minister Bhupendra Patel announced that Gujarat Tourism department will construct a major “Yatri Bhavani” at Ayodhya for the benefit of the tourists visiting the town for the grand Ram Temple that is being built. Patel had reached Ayodhya before embarking on his weeklong tour to Japan and Singapore for the promotion of Vibrant Gujarat Global Summit 2024. He had also visited Hanuman Garhi temple in Ayodhya as well. For the records, the inauguration of the temple is scheduled for January 22 next, while the tenth Vibrant Gujarat Investor Summit (VGIS) will take off from January 10.

how to thrive in the multipolar age. The country is home to just over 0.1% of the world’s people and produces only 0.5% of its GDP, but it contains nearly 10% of the world’s oil reserves, and this wealth helps it punch above its weight. Like many emerging countries today, it straddles political and economic divisions.

news aggregator InShorts saw its losses balloon by over a third during the year ended March 2023 to Rs 309.75 crore, from Rs 231.87 crore in FY22, as it spent significantly more during the period. The company saw its operating revenue rise 8.7% year-on-year during FY23. The Noida-based company’s revenue from operations rose to Rs 180.90 crore in FY23, compared to Rs 166.37 crore a year earlier, according to its financial statements filed with the Registrar of Companies (RoC).

Popular Bitcoin Lightning wallet app Wallet of Satoshi has suddenly vanished from Apple and Google’s app stores in the United States.