Singapore Financial News

Mint previously reported that Gentari Sdn Bhd and GIC Holdings Pte Ltd will invest $1.75 billion in AM Green Ammonia Holdings, a company owned by Greenko Group founders Mahesh Kolli and Anil Kumar Chalamalasetty. Gentari will invest $1.5 billion for a 30% stake in AM Green Ammonia Holdings, valuing the company at $5 billion.

Zodia Custody, the crypto security firm owned by British banking giant Standard Chartered, is expanding its services to Hong Kong. Zodia Custody’s foray into Hong Kong marks its latest stride into the Asia-Pacific region after announcing plans to expand into Singapore last month.

Standard Chartered’s Q3 results – which came out yesterday — revealed the numbers behind something many have seen going on for a while: two cities are subsiding the entire rest of the bank.

DLF, TARC, Raheja, and Unity Group, who are releasing inventory after a long time, are suddenly recording a rush of residents from Central and West Delhi as they seek exclusivity and security in gated communities. According to experts, this is the first time that so many branded products will come to the market, where supply has always been an issue. «There is an inherent demand in Central and West Delhi, with people living there now wanting to move to gated condominiums with all the facilities. They have been forced to go to satellite towns due to a lack of supply,» said Amar Sarin, managing director and CEO of TARC Ltd. TARC has planned a luxury residential project in Kirti Nagar and is expected to launch about 400 apartments within this quarter. DLF will also soon announce the last tower of the 2.1 million sq.

Tether, the preeminent stablecoin firm globally, has once again exemplified its resolve against illicit financial activities by freezing 32 cryptocurrency addresses, implicated in terrorism and warfare funding within Israel and Ukraine. The move showcases the intensifying collaboration between cryptocurrency establishments and global law enforcement to counteract the rising tide of digital-financed crime.

It was November 2021, and Judo Bank was riding high.

El Salvador can follow Singapore’s lead and become a financial center in the Americas, says VanEck strategy advisor Gabor Gurbacs.

The Biden administration is contemplating measures to plug a loophole that has been enabling Chinese firms to acquire U.S. artificial intelligence (AI) chips through overseas channels, as reported by Reuters on October 13, 2023. This move underscores Washington's ongoing effort to curb China's burgeoning AI capabilities which are significantly anchored on U.S. chip technology.

On October 16, 2023, Upbit Singapore Pte. Ltd. (Upbit Singapore), secured an in-principle approval (IPA) from the Monetary Authority of Singapore (<dfn data-info=«The Monetary Authority of Singapore (MAS) is Singapore» s central bank. the mission of mas is to promote sustained non-inflationary>MAS) for a Major Payment Institution (MPI) licence, marking a pivotal step in the firm's journey to fortify its digital asset venture in the region. This provisional approval allows Upbit Singapore to persist in rendering regulated Digital Payment Token services in alignment with the Payment Services Act 2019, while awaiting the issuance of the full license.

On October 12, 2023, Cobo Argus, a fortified on-chain DeFi management solution, announced its integration with Chainlink Price Feeds on the Arbitrum mainnet, bolstering the security and efficiency of its automated DeFi strategies. This integration stems from Cobo Argus's collaboration with Chainlink, the leading decentralized oracle network, to access accurate, tamper-resistant price data, crucial for enabling users to mitigate potential losses through timely fund withdrawals if a token loses its peg.

HONG KONG—Hong Kong’s government is grappling with an exodus of citizens and a plummeting birthrate. Its solution: Subsidize baby-making. The city has lost its appeal to some residents over the last four years, hurt by strict rules during the Covid-19 pandemic, anxieties about the growing political influence of Beijing, and competition from Singapore and elsewhere.

money laundering operation. The trio is accused of hacking into a payment gateway app and diverting funds to offshore accounts in Hong Kong, Singapore, and China through a hawala network. According to cops, Dighe, who possesses extensive knowledge of banking procedures due to his previous role, utilised his expertise to manipulate the system. He diverted the stolen money into various accounts before channelling it abroad.

Harvey Norman, Australia’s largest white goods and home retailer, says pre-tax profits have halved in the first three months of the new financial year as sales momentum deteriorates faster than the market expected.

Billionaire Singapore developer Philip Ng has emerged as a last-minute impediment to TPG Capital’s $1.8 billion purchase of InvoCare, and has voted against the sale of the ASX-listed funeral provider to the private equity firm.

Reliance Industries (RIL) revenue streams — from energy to retailing and telecom — demonstrated robust growth in the second quarter. Operating profit at India's biggest company advanced 30% year-on-year to ₹44,867 crore. At the aggregate level, margins climbed nearly 4 percentage points due to more than 30% revenue growth in oil-to-chemicals (O2C), exploration and retail segments that together account for 81% of the revenue and two-thirds of operating profit at the conglomerate.

HTX, the crypto exchange formerly known as Huobi Global and owned by Chinese blockchain personality Justin Sun, has announced a profit of $98 million for the third quarter of 2023.

Chinese blockchain personality Justin Sun, who also serves as the de facto owner of crypto exchange HTX (formerly Huobi Global), claims that the firm posted a profit of $98 million in Q3 2023.

₹3,200 crore through an equity fundraise led by existing investor Temasek and project debt from State Bank of India (SBI) to build a cell manufacturing factory and expand its electric two-wheeler business. Ola Electric has introduced new products in its electric scooter line-up, with the latest S1X starting from ₹89,999 ex-showroom for the 2kWh battery variant. Mint was the first to report on 6 September that Ola Electric Mobility has signed an agreement to raise $140 million from existing investors including Temasek Holdings, at a valuation of $5.4 billion, lower than the $7-8 billion that Ola was seeking.

Cuscal is expected to fix pricing for its IPO next week, after the payments group’s executives and advisers zipped around the world to sell investors on the company and the coming “infrastructure-like” opportunity.

IGST waiver to luxury vessels converting to coastal run and encouraging setting up of cruise terminals in ports. The near-term goal is to encourage tourists who would otherwise be boarding cruises from Dubai or Singapore to onboard cruises from Indian destinations, shipping ministry officials aware of the plan told ET. In line with the plan, the Centre is encouraging setting up of cruise terminals to improve passenger experience in the country’s coastline ports, which are currently focused on transporting goods, one of the officials said. The Goods and Services Tax (GST) Council recently gave a conditional and limited duration waiver to foreign flag foreign-going vessels converting to coastal run from the 5% integrated goods and services tax (IGST). “This IGST waiver has made it viable for companies like Costa Cruises to bring their luxury vessels to Indian shores,” Nalini Gupta, managing director of Lotus Destinations – a representative of Costa Cruises in India, told ET. Costa Cruises will have for the first time an international cruise liner stationed in India for a two-month period. “The biggest attraction is international sailing experience without having the hassles of travelling abroad, hence no visa or passport will be required,” Gupta said. Sarbananda Sonowal, union minister of ports, shipping, and waterways, told ET, “The Costa Cruises initiative has been driven by the Dekho Apna Desh initiative of Prime Minister Narendra Modi.

By Ankur Banerjee