Singapore Financial News

Also read: Nipah virus top 10 updates: From closed schools, colleges to tests, antibody launch; here's how Kerala is prepared The containment zones were created after two deaths related to the Nipah virus reported this year. The containment zones have been created within a five-kilometre radius of the homes in Kozhikode district. Shops selling essential items and medical shops can operate from 7 am to 5 pm.

₹50 crore in Indian stocks today.The ECB raised its key interest rate to an all-time record-high level on Thursday and signalled this will likely be its final move in a more-than-a-year-long fight against stubbornly high inflation. The decision raised the benchmark deposit rate to 4%, up drastically from minus 0.5% just a little more than a year ago and the highest since the euro was established in 1999.One report from the US said that shoppers spent more at retailers last month than economists expected.

NEW DELHI : EbixCash Ltd, payment services company that plans to go public, is yet to disclose in its draft share sale documents an adverse arbitration order passed by a Singapore court in June that could cost it ₹100-200 crore. The firm, a unit of Nasdaq-listed Ebix Inc., received the markets regulator’s approval for a ₹6,000 crore IPO in April. EbixCash purchased gift card provider ITZCash in 2017 and rebranded it to Ebix Payment Services (EPS), which now forms a big chunk of its business.

As per the Liberalized Remittance Scheme (LRS), an Indian citizen can send $250,000 per year. Can this amount be used for investments in futures & options (F&O) trading on international listed derivatives. For example, can a trading account be opened with an international broker in foreign geography to trade exchange products such as S&P 500 futures, crude oil options, gold, Comex (F&O market for commodities), etc. What is the taxation if the account is opened in Dubai, UAE or Singapore; jurisdictions which have double taxation avoidance agreement (DTAA) with India? —Name withheld on request Remittances under LRS are allowed only in respect of permissible capital or current account transactions or a combination of both.

Vedanta Resources financial policy regarding debt transactions may result in a potential downgrade of its current 'B-' rating to 'CCC' or 'CC,' as detailed in their credit FAQ addressing the implications of a liability management exercise for Vedanta Resources' credit rating. This rating action will happen if Vedanta tries a debt deal without enough compensation or buys back debt at a lower price than its face value in secondary markets. If Vedanta goes through with such a deal, S&P would probably lower Vedanta's rating to 'SD' and the bond ratings affected by this would drop to ‘D'.

Florintree, a growth-stage private equity firm, has bought a significant stake in Videonetics, the Kolkata-based video computing platform company, said a company statement. The financial investors, GenNext Ventures Fund, and US-based global investor exited through this transaction. According to sources, Florintree has invested about Rs115 crore in Videonetics. Founded in 2008 by Tinku Acharya, Videonetics has recently expanded offshore with operations in Singapore to cater to the Southeast Asian markets. " Videonetics is poised to become a dominant player in the global arena and add significant value to the marketplace.

Commerce (ONDC) has expanded its reach into the international business-to-business marketplace by partnering with the Singapore-based B2B network Proxtera. With this move, ONDC, an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT), aims to establish connections between small and medium enterprises (SMEs), logistics services and payment transfers, facilitating seamless export opportunities for Indian businesses.

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ONDC) has roped in Singapore-based platform Proxtera as its first international buyer app as part of its foray into international business-to-business (B2B) exports. Further, SignCatch and Rapidor, with Bech.app and placeorder.com respectively, will be among the first to join ONDC as international B2B seller network participants.

The German bank was one of a handful of company’s to invest in a $65 million, series B fundraising round for Taurus in Feb. 2023. The company offers enterprise-grade infrastructure to issue, manage custody and trade cryptocurrencies, tokenized assets, nonfungible tokens (NFTs) and other digital assets.

Changpeng Zhao, CEO of the world’s largest cryptocurrency exchange by trading volume Binance, said that Singapore’s approach to digital assets has become more “conservative,” particularly after the spectacular collapse of the now-defunct FTX exchange.

Bridgewater Associates LP founder Ray Dalio said he doesn’t want to own bonds and prefers cash, highlighting difficulties investors face as global central banks try to manage inflation.

By Muyu Xu

Grab, Southeast Asia’s super app and the biggest technology startup in the region, is piloting Web3 services in Singapore in collaboration with the USD Coin (USDC) issuer Circle.

Crypto security firm Certik has revealed that more than 40% of Telegram Bot tokens could be exit scams.

By Yantoultra Ngui

New Delhi: Adani Global Pte Ltd., Singapore, a wholly-owned subsidiary of Adani Enterprises Ltd., on Thursday announced a 50:50 joint venture (JV) with Kowa Holdings Asia Pte Ltd., Singapore, for sales and marketing of green ammonia, green hydrogen and its derivatives, the company said here in a statement. “The green hydrogen and its derivatives are to be manufactured in India under Adani New Industries Limited (ANIL). The JV will concentrate on marketing of products in Japan, Taiwan and Hawaii," the company added.

Circle Internet Financial, global payments firm behind the USDC stablecoin, has announced a partnership with ride-hailing giant Grab to pilot a Web3 blockchain-based wallet in Singapore. 

Singapore's central bank, the Monetary Authority of Singapore (MAS), has barred the founders of Three Arrows Capital, Zhu Su and Kyle Livingston Davies from participating in financial markets within the city-state for a period of nine years.

Kozhikode, Kerala, has been diagnosed with Nipah fever, adding to the mounting number of cases. This development comes just a day after four people were proven to be afflicted with the Nipah virus, two of whom tragically died. With this recent case, the total count of Nipah patients receiving treatment in the district now stands at three. The other two individuals are the nine-year-old son and the 25-year-old brother-in-law of Mohammedali (47), the index case, who regrettably succumbed to the virus on August 30.

The Monetary Authority of Singapore (MAS) has issued a nine-year prohibition order to Three Arrows Capital (3AC) founders Kyle Davies and Zhu Su over alleged violations of the country's securities laws.