Singapore Financial News

leadership of the world's second-biggest economy, diplomats and analysts say. Defence Minister Li Shangfu, who has missed meetings including with at least one foreign counterpart since he was last seen in late August, is under investigation in a corruption probe into military procurement, Reuters reported on Friday. Newly installed Foreign Minister Qin Gang vanished with scant explanation in July, the same month as an abrupt shake-up of the military's elite Rocket Force, which oversees China's nuclear arsenal.

360 Realtors, India’s leading institutional channel partner (ICP), has forayed into the fractional ownership space through its new company 360 FRXNL. The newly-incubated entity will offer transparent and seamless transaction facilities across multiple assets, including commercial, residential, industrial, plots, and much more. The company aims at offering institutional-quality deals with the flexibility & convenience of retail investment.

By Greg Torode and Martin Quin Pollard

Restaurant Brands Asia - previously known as Burger King India, witnessed high stock movement on Friday, September 15 as eight investors picked nearly 24 per cent equity stake in the company after the promoter QSR Asia offloaded more than 25 per cent shareholding through an open market transactions. Shares of Restaurant Brands Asia climbed as high as 6.7 per cent during Friday's trading session and hit a fresh 52-week high at ₹137.85 apiece.

Mike Ashley is reportedly in discussions to sell online clothing brand Missguided to the Singapore-based giant, Shein. This potential deal is in progress months after Ashley's Frasers Group saved the brand from administration. Here's what we know:

Nipah virus has been reported in Kerala, triggering a panic in the southern state of India. Nipah virus is caused by fruit bats and is potentially fatal to humans as well as animals. Along with respiratory illness, it is also known to cause fever, muscular pain, headache, fever, dizziness, and nausea.

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.

Flying rights are allocated on a bilateral reciprocal basis by the government to airlines of their country. Airlines cannot operate more flights than they are allotted.

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Vistara will start direct flights between the national capital and Hong Kong from October 29.

Crypto exchange JPEX has reportedly increased its withdrawal fee to up to 999 Tether (USDT) after receiving a warning from Hong Kong’s Securities and Futures Commission (SFC). The staff of the exchange has also been reportedly missing from its Token 2049 booth in Singapore. 

Ethereum (ETH) co-founder Vitalik Buterin has issued a word of caution to cryptocurrency projects considering establishing their operations in Hong Kong. 

According to the report, Pakistan's finance ministry has cited the exhaustion of the country's foreign exchange reserves as the reason for being unable to release salaries, extending the financial strain into September. This situation poses a significant challenge to officials working in costly cities like Washington, DC, and Hong Kong, as well as Singapore, as they face the prospect of going without salaries for yet another month. Top officials have confirmed, «The press attaches working in Washington, DC, and Hong Kong, as well as the press counsellor deputed in Singapore, continue to live without salary since June.» This is not the first time that Pakistan, facing financial constraints, has encountered difficulties in disbursing salaries.

Livspace said its revenue for FY23 jumped 85% to Rs 1,147 crore, even as its losses narrowed. The company said it has cut down its Ebitda (earnings before interest, tax, depreciation and amortisation) loss in India to half. The Singapore-headquartered company, which is valued at $1.2 billion, reported Ebitda before Esops of Rs 581 crore.

Johnny Ng, a member of the Legislative Council of Hong Kong, took to social media on Sept. 15 in response to comments made by Ethereum co-founder Vitalik Buterin about Hong Kong’s future “friendliness” toward cryptocurrencies. 

Axiscades Technologies has partnered with Singapore-based Cantier to provide automated manufacturing solutions to industrial players across sectors. As part of the partnership, the entities will provide end-to-end automated manufacturing solutions to corporates coming from various sectors, including semiconductor, electronics, aerospace, and food processing, among others, Axiscades Technologies said in a statement on Friday. «By integrating Cantier's innovative MES 4.0 with our engineering and technology solutions, we are poised to transform the core of industrial manufacturing. »We're not just enhancing workflows but also creating a new period of manufacturing excellence with real-time insights and seamless digital integration," Arun Krishnamurthi, CEO and MD of Axiscades, said. Commenting on the partnership, Prabakar Selvam, Founder & CEO of Cantier, said it is a step towards autonomous manufacturing and a true digital transformation.

By Sudarshan Varadhan

Hong Kong was crowned the best-prepared jurisdiction for widespread cryptocurrency adoption in 2023, retaining its crypto-readiness prowess for the second year in a row. 

₹488 apiece on BSE, and touched intraday high of ₹522.20. According to Rajesh Bhosale - Equity Technical and Derivative Analyst, Angel One, Strides Pharma Science Limited share price has experienced a significant increase in both price and trading volume, breaking through a key resistance level at 490 with an Bullish gap, which suggests a up trend. It is possible that prices can continue to rise in the short term, with a potential resistance level at 560.

Decentralized stablecoins may eventually dominate the stablecoin market, so long as crypto “ends up living up to its potential,” says Rune Christensen, the co-founder of DeFi pioneer MakerDAO.

Hong Kong legislator Johnny Ng has extended an invitation to Buterin to gain a firsthand understanding of the region's regulatory environment and crypto-related strategies after the Ethereum co-founder questioned the city's crypto-friendliness.