Singapore Financial News

Leading Swiss asset management bank UBS has announced the debut of its first live pilot of a tokenized Variable Capital Company (VCC) fund on the Ethereum blockchain in Singapore. 

Cryptocurrency trading firm and liquidity provider GSR's Singaporean subsidiary, GSR Markets Pte. Ltd, has received an in-principal approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license. 

Singapore's Vertex Technology Acquisition Corp (VTAC) will buy live streaming platform 17LIVE Inc for up to S$925.1 million ($676 million), the special purpose acquisition company (SPAC) backed by state investor Temasek said on Monday. The deal is the first purchase of a private company by a SPAC listed in the city-state since 2021 when the Singapore Exchange allowed SPACs, or shell firms, to float shares in a bid to position itself as a hub for this type of vehicle in Asia.

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Two 50 million Tether (USDT) transactions have been transferred from Bitfinex to the “Tether Treasury” address, according to transfer receipts from Whale Alert. 

Leading Swiss bank UBS has launched a live pilot of a tokenized version of its variable capital company (VCC) fund as part of Project Guardian, an initiative led by Singapore’s central bank. 

₹33 to ₹166 – a square foot per month, which is the lowest among world's leading markets, as per a report released by real estate consultancy group Vestian. In contrast, the monthly average rent in New York, London, Miami, Seattle and Boston is $40-80 per sq ft, and in Hong Kong, Singapore and Shanghai, it is in the range of $3-8 per sq ft a month, according to the data compiled by Vestian. Among the seven Indian cities – New Delhi, Mumbai, Kolkata, Chennai, Pune, Hyderabad and Bengaluru – the highest average office rentals were observed in Mumbai, the country's financial hub, where it ranges from $1-2.

Singapore, Australia, France, and Sweden are witnessing an increasing volume of score reports from Indian TOEFL test takers and emerging as new destinations of interest, according to the Educational Testing Service (ETS). The top two destinations for TOEFL test takers in India since 2017 have been the United States and Canada. Till 2019, Germany was at the third spot and the UK at the fourth spot. However, from 2020 onwards, the two countries have switched positions. «While the top five countries chosen by Indian TOEFL test takers have remained nearly consistent over the last 5-6 years. Apart from the top destination countries, emerging countries for Indian test takers include Singapore, Australia, France, and Sweden. These countries have seen an increasing volume of score reports from Indian test takers,» Sachin Jain, the Country Manager of ETS India and South Asia, told PTI. The Princeton-based ETS, which conducts the Test of English as a Foreign Language (TOEFL) and Graduate Record Examination (GRE), said the trend reflects shifting aspirations of people.

By Rae Wee

The third quarter was a story of dashed hopes in emerging markets, with the unraveling of some of the most profitable trades in the asset class.

United States-based cryptocurrency exchange Coinbase is expanding operations in Singapore after securing major regulatory approval from the country’s central bank.

sepaktakraw at the Asian Games on Monday. The men's side thrashed Singapore 2-0 (21-7, 21-15) in just 38 minutes before beating Philippines 2-0 (21-16, 21-15) at the Jinhua Sports Centre Gymnasium.

Crypto exchange Coinbase has secured a full major payment institution (MPI) license under Singapore's Payment Services Act.

Recharge Capital, a prominent $6B thematic-first private investment firm, has announced the appointment of Margaret Wang, previously the Executive Director and Head of Bridgewater Associates Singapore, as its new Managing Partner. Wang's primary focus will be on leading the Women’s Health Strategy and overseeing the firm's operations in the APAC region from its Singapore office.

Pickleball tournament in Mumbai saw the highest number of participants at 470 and a record number of over 15 sponsors, including Skechers, Decathlon, Selkirk, Franklin, and Pickleball United. Pickleball, often described as a combination of tennis, ping-pong and badminton, has grown nearly 40% in the last three years — making it America's fastest-growing sport. A relatively new and emerging sport in India, it is gaining popularity across age brackets and among CEOs.

finance and corporate affairs are at an advanced stage of firming up a much-awaited framework for direct listing of Indian companies abroad, which could be introduced later this financial year, said people with knowledge of the matter. The move would set the stage for unicorns and other entities to have easier access to a larger pool of foreign capital, they said, adding that it could also encourage a greater number of startups, with Indians at the helm, to incorporate within the country instead of jurisdictions like Singapore. Initially, the framework will be used to allow direct listing at the International Financial Services Centre (IFSC) at Gujarat's GIFT City. Subsequently, it will govern listings in other jurisdictions as and when the government decides to allow that, the people told ET. «The capital markets division of the Department of Economic Affairs (DEA) and the Ministry of Corporate Affairs (MCA) are firming up rules that will act as an enabler of the direct listing process.

migration market was largely geared towards the US EB-5. Now, residence-by-investment migration programmes in the UAE, Singapore, Greece and other European countries are gaining traction to enhance wealth and global mobility. The recently introduced Indian ODI (outward direct investment) regulations — which permit direct investments in international entities, subject to certain conditions — have acted as a catalyst for many wealthy Indian families to explore international investment opportunities, says Sunita Singh-Dalal, partner, private wealth & family offices at Hourani & Partners in the UAE.

Google Cloud joins Polygon’s Proof-of-Stake (PoS) network as one of its decentralized validators.

Su Zhu the founder of bankrupt crypto hedge fund, Three Arrows Capital has been arrested in Singapore while embarking on an attempt to flee according to reports.

Three Arrows Capital co-founder Su Zhu was apprehended in Singapore while trying to leave the country on Friday.

New Delhi: Tata Group-owned Air India is expected to consolidate its presence and increase efficiency across 100-plus routes, or over 50 origin-destination pairs, to fully utilize the group’s network of four airlines. According to Competition Commission of India’s assessment on deployment of both air traffic and seat capacity for 2022-2023, Air India and Vistara has shared presence in 48 origin-destination pairs, or on 96 routes.