Singapore Financial News

Polygon Labs announced on Sep. 29 that Google Cloud has joined the Polygon PoS network as a validator. 

The co-founder of Three Arrows Capital (3AC), Su Zhu, was arrested in Singapore when attempting to leave the country, Cointelegraph has learned from Teneo, the joint liquidator of the bankrupt hedge fund. 

TiE Global Summit (TGS) 2023, the flagship event of TiE Global, is set to bring together visionaries, industry leaders, investors, and entrepreneurs from across the globe. This is the 8th annual edition of the event. This premier entrepreneurial event is scheduled to take place from 15 – 17 November 2023 at Singapore Expo and Marina Bay Sands hotel.

PMO) in the annual Population in Brief report by the National Population and Talent Division. «The total population of 5.92 million as of June 2023 is the highest recorded figure in Singapore's history,» the PMO said. The population rebounded from declines during the COVID-19 pandemic and has since exceeded the 2019 population of 5.7 million.

Authorities in Hong Kong and Macau have recently revealed arrests connected to the JPEX crypto exchange fraud case and highlighted that they are currently tracking down several other suspected figures.

A nonfungible token (NFT) artist raised nearly $140,000 (114,000 British pounds) from an art event in Edinburgh, Scotland to support cancer treatment.

IHG Hotels & Resorts is expanding its portfolio in Mumbai with the signing of new hotels with Nikhil K. Raheja and Vijayta Raheja. With this partnership, IHG will launch its new five-star brand voco in Mumbai, along with a new Holiday Inn Express & Suites property.

Temasek is paring its holding in Manipal Hospitals six months after it bought a controlling stake, but the Singapore sovereign wealth fund (SWF) will continue to hold 51% in the hospital chain, people aware of the development said. Temasek-owned Sheares Health is in advanced negotiations to sell 8-9% in Manipal Health Enterprises to Abu Dhabi fund Mubadala and Brunei Investment Authority (BIA), another SWF, at an enterprise valuation of $5 billion, or about ₹40,000 crore, they said. The valuation is the same as when Temasek acquired an additional 41% to take its holding in the Bengaluru-headquartered hospital chain to 59%.

China has bought several hundred thousand metric tons — trad Chinese importers are believed to have made large purchases of animal feed corn from Ukraine in the past two weeks, traders in Asia and Europe said on Thursday, providing a boost for the war-ravaged country from an unlikely source. The traders were unable to say the exact volumes but several said they amounted to several hundred thousand metric tons. A Ukrainian government source also confirmed corn sales to China, a key ally of Russia, particularly since Moscow's full-scale invasion of Ukraine in February 2022. «Importers in China have bought around 10 to 12 Panamax cargoes of Ukrainian corn for November/December shipment,» said a Singapore-based trader at an international grains trading company, referring to a size of ship with a capacity that typically exceeds 60,000 tons of grain. «Ukraine is the cheapest origin for corn as of now,» the trader said. A Ukrainian government source said: «I cannot tell you the volume, but I know that many (traders) did it and it is a good trend (for Ukrainian corn).» Russia has tried to impose a de facto blockade on seaborne Ukrainian grain exports through the Black Sea.

Project Mariana was developed jointly by three BIS Innovation Hub centres in Switzerland, Singapore and Europe, together with Bank of France, Monetary Authority of Singapore and Swiss National Bank.The project's proof of concept successfully tested the cross-border trading and settlement of hypothetical euro, Singapore dollar and Swiss franc wCBDCs between simulated financial institutions. The DeFi element was provided by an Automated Market Maker, which is a specific type of decentralised exchange to trade and settle spot FX transactions automatically.While not endorsing the use of DeFi, the BIS says these protocols could be used by the next generation of financial market infrastructures facilitating cross-border trading and settlement between financial institutions."As tokenisation and DeFi technologies are still nascent, further research and experimentation is needed," emphasizes the BIS.

Singapore-based exchange Crypto.com has teamed up with PayPal and Paxos to become a preferred platform for PayPal USD (PYUSD). 

The Bank for International Settlements (BIS) and the central banks of France, Singapore and Switzerland concluded a joint test of the cross-border trading and settlement of wholesale central bank digital currencies (CBDCs). Banque de France issued the report on Sept. 28. 

The Bank for International Settlements (BIS) and central banks of France, Singapore, and Switzerland have jointly announced a successful test of cross-border trading and settlement for wholesale central bank digital currencies (wCBDCs).

LONDON (Reuters) — New York has easily remained the world's top financial centre with London still second and gaining some ground, but also facing a tougher fight with Singapore and Hong Kong, the Global Financial Centres index showed on Thursday.

By Florence Tan and Mohi Narayan

SINGAPORE (Reuters) — Singapore state investment firm Temasek's wholly owned unit True Light Capital said on Thursday it raised $3.3 billion in its flagship fund that invests in Greater China and has now closed it to new capital.

SINGAPORE (Reuters) — Singapore's finance ministry on Thursday announced an additional S$1.1 billion ($801.98 million) to help households handle increases in the cost of living.

Mayuresh Joshi, Head-Equity Research, India, William O'Neil, says “the commentary surrounding order wins by IT companies remains extremely strong because the targeted bucketed list that they probably have between a million dollars to five million and to ten million for midcap IT companies those order wins and those transformational deals when it comes to AI and the associated space is there itself still continues at a rapid and a very good pace. The other space, ER&D, where a lot of companies like a KPIT, Tata Elxsi, Sonata have done well and continue to do well.” Is a move on Reliance sustainable and are there enough fundamental triggers in place? Singapore GRMs have come off in the last few weeks and therefore the refining segment for the better part of the second quarter and the third quarter, will stay at these levels and can be under some sort of pressure. But we all know that Reliance has access to multiple feedstocks and even if Singapore GRMs have corrected to around $6.5, an outperformance of $2 to $3 to say the least can be expected from Reliance.

Siddhartha Khemka, V-P, Head of Research (Retail), MOFSL, says “Reliance Industry’s core business which is facing headwinds, will not see recovery in the near term. Jio Financial post listing has not seen much excitement. The telecom business has been pretty stable though. All put together, we would not see a huge upside but I would expect it to remain steady in terms of share price movement for the next couple of weeks.” Do you think the triggers are in place for a meaningful up move from Reliance from these levels? In Reliance, there have been multiple headwinds. If we look at their last few AGMs, they have heavily invested into new-age or the alternate fuels where a few years back, they were talking about net debt-free and cash surplus. Again, with the investment cycle coming up, the core business is getting some pressure. The Singapore GRMs have come off from their highs and that is also hurting the oil business. If you put together all the pieces, the core business where there are headwinds, will not see recovery in the near term. We saw the Jio Financial listing but post listing, there has not been much excitement there. The telecom business has been pretty stable though. All put together, we would not see a huge upside but I would expect it to remain steady in terms of share price movement for the next couple of weeks.

Lawyers for Terraform Labs co-founder Do Kwon have requested a federal court to reject the United States Securities and Exchange Commission’s (SEC’s) request to question him in the U.S. over the collapse of the Terra Money ecosystem.

The urgency for Southeast Asian nations to switch to clean energy to combat climate change is breathing new life into a 20-year-old plan for the region to share power