Singapore Financial News

CBDT), has clarified that past investments made under certain tax treaties with countries like Mauritius, Cyprus, and Singapore will not be affected by a new rule called the Principal Purpose Test (PPT).

Ng Kok Song, a 76-year-old Singaporean financier, entrepreneur, and former Director of the Monetary Authority of Singapore, believes he has the answer. As per his LinkedIn profile, he has an extensive career in finance and as the founder of an investment company, Ng is also an advocate for healthy living.

Subscribe to enjoy similar stories. Citizens of India residing abroad are classified as non-residents (NR) under the Income Tax Act, 1961 (the Act) based on their physical stay in India. Lately, there has been a surge in tax compliance among non-resident Indians, including filing of tax returns.

Subscribe to enjoy similar stories. SINGAPORE—China suggested it was willing to work with Donald Trump to keep TikTok operating in the U.S. The Chinese Foreign Ministry said Monday that companies can make their own decisions on operations and acquisitions, a reversal of the government’s previous position that it would block any forced sale of TikTok.

Digital Edge DC, a National Investment and Infrastructure Fund (NIIF)-backed entity to fund part of its data centre project in Navi Mumbai, indicating higher preference among lenders to fund secured assets.

Indonesia is poised to join a select group of nations establishing a dedicated India-specific special economic zone (SEZ) aimed at attracting Indian investments in sectors such as automotive, electronics, movie production, pharmaceuticals, healthcare, and education.

Tharman Shanmugaratnam on Saturday said his country was trying to contribute to the semiconductor ecosystem and the air connectivity sector. «India aspires to be a pole in its own right, in a multipolar world that is true geopolitically, but it is also true economically. India is emerging as a major pole of the global economy. India is a nation with which we would like to collaborate,» he said, while briefing the media at the end of his two-day tour to Odisha.

Subscribe to enjoy similar stories. SINGAPORE—China said its economy expanded by 5% last year, formally hitting its official growth target in a difficult year that saw officials respond to a sharp summertime deterioration in key indicators with its most aggressive stimulus in years. The country’s National Bureau of Statistics said gross domestic product was buoyed by solid growth in investment and exports, which offset weaker consumption, highlighting the unevenness of Chinese growth.

In a heated Senate confirmation hearing for Pete Hegseth, Sen. Tammy Duckworth grilled the proposed defense secretary over the Association of Southeast Asian Nations, asking him if he could name one member and how many countries were in the bloc

e-commerce exports have seen a commendable rise. An EY-Assocham study put the country’s e-commerce exports at $4-5 billion in FY23, with a target of $200 billion by 2030. E-commerce has helped give small businesses a level playing platform to sell to a much bigger market. The business requires minimal investment and with enablers and push from global players like Amazon, eBay as well as cross-border payment platforms like Payoneer, e-commerce export is becoming a lucrative option for many MSMEs in India.

The settlement, finalised on Wednesday, involves SEFE Marketing paying $285 million to GAIL (India), marking a resolution to the dispute. The agreement also includes the withdrawal of the arbitration proceedings before the London Court of International Arbitration.

Singapore’s Immigration and Checkpoints Authority (ICA) has raised alarm over a significant rise in "sham marriages" — unions arranged for the sole purpose of securing immigration benefits. These marriages, often arranged by syndicates, predominantly involve Singaporean men marrying foreign women in exchange for payment, granting the women the ability to stay or work in Singapore. The ICA recorded 32 such cases between January and September 2024, a sharp increase compared to just four cases in the same period in 2023.

Singapore where 12 flights were diverted to regional airports due to intense monsoon since Friday, the airport operator said on Tuesday. «The flights, operated by various airlines, were from destinations such as Bangkok, Jakarta, Phuket and Shanghai,» the Changi Airport Group told PTI.

Subscribe to enjoy similar stories. SINGAPORE—Chinese officials, facing a looming U.S. TikTok ban, have internally discussed options including the possibility of allowing a trusted non-Chinese party such as Elon Musk to invest in or take control of TikTok’s U.S.

Subscribe to enjoy similar stories. On November 25th the Elva, a tanker flagged in São Tomé and Príncipe, clandestinely picked up 2m barrels of Iranian crude off Malaysia’s coast. Sailing from there to north-east China, the vessel’s likely destination, usually takes two weeks at most.

Singapore President Tharman Shanmugaratnam will make a State Visit to India from 14 to 18 January 2025, at the invitation of the President Droupadi Murmu. Tharman’s State Visit commemorates the 60th anniversary of the establishment of Singapore-India diplomatic relations. He will visit New Delhi from 15 to 16 January, and Odisha from 17 to 18 January.

NCLT) has approved the merger of Kiranakart Technologies, which operates quick commerce platform Zepto, with its Singaporean affiliate entity Kiranakart Pte Ltd—a move that will help accelerate its initial public offering (IPO) plans in India this year. Zepto’s domicile flip to India will formally complete within the next 30 days, a person aware of the matter said, adding that this was one of the fastest approvals of its kind from the tribunal. “The scheme appears to be fair and reasonable and (it) is not in violation of any provisions of law and is not contrary to public policy,” the Mumbai bench of NCLT observed in its January 9 order.

Henley Passport Index of the year 2025 has crowned Singapore as the most powerful passport of the world while granting its citizens visa free access to 195 out of 227 global destinations, reported CNBC Travel. This achievement actually marks a pretty significant milestone in global mobility while demonstrating the diplomatic and international standing of Singapore. According to CNBC Travel, Japan actually closely follows in second place with 193 visa free destinations while Finland, France, Germany, Italy, South Korea and Spain share third place together whereas each country is offering access to 192 destinations. The rankings actually highlight the continued dominance of Asian and European nations in international travel freedom. The United Arab Emirates emerged as a notable climber while rising 32 places to enter the top 10 with access to 185 destinations, asserted CNBC Travel. At the same time, on the other hand, the US eventually experienced a significant decline while dropping seven places to ninth position.

Accor SA.

budget, the spotlight is on tax reforms and their impact on economic growth, boosting consumption and attracting foreign investment. Dinesh Kanabar, tax expert and CEO of Dhruva Advisors LLP, shares his perspective in a discussion with ET. Edited excerpts: