Singapore Financial News

On November 2, Sky Mavis, the developer behind the popular monster-battle nonfungible tokens (NFT) game Axie Infinity, announced a partnership with Korean gaming studio Act Games, to bring a variety of Japanese video game franchises to its native Ronin blockchain.

Chris Ellison’s Mineral Resources made a down payment on the Bald Hill lithium mine as he advances a billion-dollar spending spree in the West Australian lithium sector, and mounts a potential challenge to SQM’s takeover of Azure Minerals.

In response to the evolving landscape of technology-enabled crimes, Singapore's Attorney-General's Chambers (AGC) has officially established two specialized task forces this year, according to Lianhe Zaobao . Comprising approximately 20 prosecutors, these units aim to tackle challenges posed by technological advancements in criminal activities.

₹1,000 crore ($120 million) for its open-ended fund to invest in Indian equities. Kotak Iconic Fund, a category-III alternative investment fund (AIF), invests in equities with varied market capitalisation through diversified active and passive strategies. “The journey to ₹1,000 crore in AUM (assets under management) has been marked by unwavering dedication, resilience, and the trust of investors who have chosen Kotak Iconic as their preferred investment vehicle in the Indian equities space," said Lakshmi Iyer, chief executive officer, investments and strategy, Kotak Alternate Asset Managers.

Singapore’s defense minister has urged China as a dominant power in Asia to take the lead in reducing tensions in the region, warning that a military conflict like the one in Ukraine or the Israel-Hamas war would be devastating for the continent and it...

Southeast Asia's internet economy is expected to grow 11% year-on-year in 2023, slowing from last year's 20% growth, an industry report showed on Wednesday. The annual report published jointly by Alphabet's Google, Singapore state investor Temasek Holdings and global business consultants Bain & Company, also said the region's internet economy is seen worth $295 billion by 2025, down from a previous estimate of $330 billion.

AM Green, a hydrogen and ammonia producer owned by the founders of Indian renewable company Greenko Energy Holdings, is planning to raise around $1 billion to fund its growing business, according to people familiar with the matter. The firm is working with an adviser on the fundraising to bolster its ability to produce green hydrogen and other chemical compounds, the people said, asking not to be identified as the information is private. AM Green aims to build a million tonnes a year of green methanol capacity, one of the people said. Singapore sovereign wealth fund GIC Pte and the renewable energy arm of Malaysian state oil giant Petronas Nasional Bhd.

The race to buy Balmaine Gold, owner of Ballarat’s last gold mine, has narrowed to a handful of bidders from at least 25 who took an early look.

The FCA joins MAS, Singapore’s central bank, the Financial Services Agency of Japan (FSA), and the Swiss Financial Market Supervisory Authority (Finma) as part of the project.The initiative is an extension to MAS’ Project Guardian, in which the central bank collaborated with 15 financial institutions to carry out industry pilots on asset tokenisation in fixed income, foreign exchange, and asset management products. While the pilots demonstrated the potential to reap significant market and transaction efficiencies from the use of tokenisation, scale challenges entail closer cross-border collaboration among policymakers and regulators.The project aims to share knowledge and examine the benefits, regulatory challenges, and commercial use cases of asset and fund tokenisation.Leong Sing Chiong, deputy managing director, MAS, states: “MAS’ partnership with FSA, FCA and Finma shows a strong desire among policymakers to deepen our understanding of the opportunities and risks arising from digital asset innovation.

Central banks have loaded up on more gold than previously thought this year, offering crucial support to prices that have faced pressure from global monetary tightening.

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TPG’s $1.8 billion buyout of InvoCare has been approved by shareholders of Australia’s largest funerals group, ending two decades of public listing.

Rare earths play Northern Minerals has asked the Foreign Investment Review Board to probe whether recent share acquisitions are part of a covert attempt by Chinese interests to gain control of its strategically important assets in Western Australia.

Vistara on Monday announced the launch of its daily direct flight between the national capital and Hong Kong. The inaugural flight, operated by an A321 neo aircraft, commenced from Delhi airport on Sunday evening and arrived at Hong Kong on Monday morning.

Singapore’s central bank has announced plans to collaborate with monetary authorities in Japan, Switzerland, and the United Kingdom for joint digital asset pilots.

Israel is pounding Gaza non-stop and from all fronts to get to Hamas. But, oil traders seem more concerned right now about what the Federal Reserve might do or say at the central bank’s rate decision on Wednesday and how the US job numbers for October will turn out on Friday, than the Middle East’s raging war that practically had markets on tenterhooks last week.

Incoming investment capital and immigration will lead to a major economic shift that will turn El Salvador into a financial center, argued Gabor Gurbacs, strategy adviser of investment management giant VanEck.

The Monetary Authority of Singapore (MAS), the country’s central bank and financial regulator, is planning to start crypto-related cooperation with some European countries and Japan.

Spacetech company Skyroot Aerospace on Monday said it has raised $27.5 million in a pre-Series C funding round led by Temasek, a global investment company owned by the government of Singapore. The startup plans to utilise the newly acquired capital to build its infrastructure and technology, attract talent and enhance its launch frequency and capabilities.

Zodia, the institutional cryptocurrency custody platform co-owned by British banking giant Standard Chartered, Japanese SBI Holdings and the financial firm Northern Trust, is expanding its services to Hong Kong.

India's Skyroot Aerospace said on Monday it has raised $27.5 million in a fresh round of funding led by Singapore's Temasek, upping the ante in the country's burgeoning space industry days after rival Agnikul Cosmos raised a similar amount. The Hyderabad-based company, which launched India's first private rocket in 2022, is set to launch its second commercial rocket, the Vikram-I, next year. The launch vehicle can take payloads of upto 300 kilograms into low earth orbit.