Singapore Financial News

Investing.com-- Most Asian currencies kept to a tight range on Thursday, while the dollar edged lower as markets weighed stronger-than-expected inflation data against expectations that the Federal Reserve will keep rates unchanged next week. 

Big Tech player Meta gave the metaverse a bad name when it pushed its janky vision to the masses. Luckily, open online virtual worlds have continued to evolve, says Yuga Labs CEO Daniel Alegre.

Reliance Industries: Reliance Retail is in talks with existing investors including the sovereign wealth funds of Singapore, Abu Dhabi and Saudi Arabia for combined new investments of around $1.5 billion. The discussions of India's largest retailer with investors are part of an internal target to raise $3.5 billion which the company wants to close by the end of this month, according to a report by news agency Reuters. Out of that, QIA last month announced a $1 billion investment and KKR & Co this week $250 million.

Indian startup ecosystem. The sector has witnessed one of the worst slowdowns in risk capital funding for startups that has stretched for over a year, drawing the moniker of a “funding winter”. The eleven jurors including top business leaders, startup entrepreneurs who have taken their companies public recently, marquee investors and other founders, would therefore display a razorsharp focus on business models built for the long term.

Australian F1 driver Daniel Ricciardo and his Olympic snowboarder mate Scotty James say they always think long and hard about the risks of promoting the wrong thing. 

Adani stocksAdani Group is in talks with banks to refinance debt taken on to fund its purchase of Ambuja Cements, with lenders divided into three categories in what could be one of Asia’s largest syndicated loan deals of the year, Bloomberg reported.Reliance IndustriesReliance Industries arm Reliance Retail is in talks with existing investors including the sovereign wealth funds of Singapore, Abu Dhabi and Saudi Arabia for combined new investments of around $1.5 billion.Read more: Here's the trading setup for today's sessionKPI Green EnergyKPI Green Energy has commissioned a 7.80MW wind-solar hybrid power project comprising 4.20 MW wind and 3.60 Mwdc solar capacity under the CPP segment.NBCCNBCC has been awarded consultancy and project management services for upcoming Infrastructural related projects of Bokaro Steel Plant from SAIL.IRCTCIRCTC has signed a Memorandum of Understanding (MOU) with Maharashtra State Road Transport Corporation (MSRTC) to enable MSRTC's online bus booking services via IRCTC's bus booking portal/website.Bombay DyeingBombay Dyeing approved a proposal to sell the land parcel of about 22 acres in Worli, Mumbai to Goisu Realty, a subsidiary of Japanese realty developer Sumitomo for Rs 5200 crore.WiproWipro has launched a cyber defense center (CDC) in Dusseldorf, Germany.

The Japanese electronics and entertainment giant Sony will develop a blockchain network, making it the latest company from the nation to move into the Web3 space.

Kozhikode villages. 3) 58 wards across nine panchayats in Vadakara taluk of Kozhikode district have been declared as containment zones. Essential services and only entry and exit are allowed in these areas.

ZopSmart emerged as the hands-down winners of the Comeback Kid category at ETSA 2023. Hailing the team of Mukesh Singh, Raj Pandey and Vikash Kumar as role models for their sheer hard work, grit and perseverance, the star-studded jury unanimously voted for ZopSmart’s founders in the secret ballot on Tuesday.

National Australia Bank will shut down its office in Hong Kong after deciding that Shanghai, Singapore and Tokyo are the preferred regional centres to support its institutional banking clients in Asia.

Three central banks have joined the beta phase of bank messaging platform SWIFT’s central bank digital currency (CBDC) interoperability project, the company announced Sept. 13. It has also entered a new phase of sandbox testing, it said.

Small-ticket personal loans below ₹50,000 and some higher-end personal loans are seeing some stress, according to Amitabh Chaudhry, managing director of Axis Bank. Speaking to investors in Singapore, as per a Macquarie report, Chaudhry also highlighted some specific concerns about capital expenditure (capex) demand. He mentioned that securing equity for large projects is difficult, and banks are adopting a conservative stance.

Samhi Hotels IPO: Samhi Hotels has raised ₹616.50 crore from anchor investors a day ahead of its IPO subscription opening for bidding. The initial public offering (IPO) will open for subscription on Thursday, September 14 and close on Monday, September 18. The Goldman Sachs-backed company has fixed the price band at ₹119 to ₹126 per share.

₹ 253.52 crore ahead of company’s proposed IPO at the upper price band of ₹ 164 per equity share (including premium of ₹ 163 per equity shares) with face value of ₹ 1 per share. Out of the total allocation of 15,458,515 equity shares to the Anchor Investors, 3,780,630 Equity Shares (i.e. 24.46% of the total allocation to the Anchor Investors) were allocated to 3 domestic mutual funds through a total of 4 schemes.

Samhi Hotels on Wednesday said it has mopped up Rs 616.54 crore from anchor investors ahead of its initial share sale. The company has allocated 4,89,32,143 equity shares to 35 entities at an average price of Rs 126 apiece, according to a circular uploaded on the BSE website.SBI Mutual Fund (MF), Aditya Birla Sun Life MF, ICICI Prudential MF, Tata MF, Elara India Opportunities Fund, Singapore Government, Monetary Authority of Singapore, Societe Generale, Segantii India Mauritius, D E Shaw Valence International (SPV) LLC, Lion Global Asia Pacific Fund and Citigroup Global Markets Mauritius Pvt Ltd are among the anchor investors. On Monday, the Gurugram-based Samhi Hotels' fixed the price band for its Rs 1,370 crore-primary share sale that opens on Thursday at Rs 119-126 per share. The Initial Public Offering (IPO) comprises fresh issuance of equity shares worth up to Rs 1,200 crore and an Offer For Sale (OFS) of up to 1.35 crore shares.

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

U.S. equity futures traded little changed as traders awaited inflation data for clues on whether policy makers will keep rates higher for longer.

Kempegowda International airport in Bengaluru which started operating international flights on Tuesday, is a 'terminal in the garden', reminding one of Singapore's Changi airport with its extravagant display of trees, plants and waterfalls. If the Bengaluru airport's Terminal-2 doesn't compete with Changi, it sure does take a 'leaf' out of it. The terminal fuses the ethnic with the futuristic and the aesthetic with the efficient amid a lush green design. The new 255,000 square metre terminal is designed and built on four key pillars and reflects Bengaluru's rich culture, history, its nature as the garden city and technology hub of India. Spread over four levels, the terminal is built for seamless departures and easy arrivals that are facilitated on different floors. The scale of T2 and the insightful design makes it a destination in itself.

Singapore's outgoing President Halimah Yacob on Wednesday extended her best wishes to the Indian-origin President-elect, Tharman Shanmugaratnam, in her final speech as the holder of the city-state's highest but non-political post. Singapore-born economist Tharman will be sworn in as the ninth president of the city-state on Thursday, days after he was overwhelmingly elected as the ninth head of state of the country. The 66-year-old President-elect won 70.4 per cent of the 2.48 million ballots cast by voters on September 1, while his Chinese-origin rivals Ng Kok Song and Tan Kin Lian received 15.72 per cent and 13.88 per cent respectively. Wednesday marked the end of 69-year-old Halimah's six-year term as president. «Tomorrow, a new president will be sworn in,» she said at her farewell reception at the Istana (Presidential Palace), according to Channel News Asia. «I wish Mr Tharman Shanmugaratnam all the best in discharging his duties,» she added. Halimah, also Singapore's first female president, said she was humbled that the people of Singapore had placed their trust and faith in her as their president. She added that this unwavering support fuelled her determination to serve every day of her six-year term. Retrospectively, Halimah said she had a good relationship with the government.

Institutional adoption of digital assets in Asia is gaining momentum as regulatory clarity improves in the region. 

Digital assets investment giant Pantera Capital is increasing its venture capital (VC) reach to mid-stage crypto-centric companies, at a time when investors are interested in artificial intelligence (AI), particularly after the crypto market rout.