Page 14 - Singapore

Nazara subsidiary to fully acquire Freaks 4U Gaming in deal worth Rs 271 cr

E-sports and gaming company NODWIN will enhance its stake to 100 per cent in its European peer Freaks 4U in a share swap deal valued at around Rs 271 crore, the company said on Friday. Singapore-based NODWIN is a material subsidiary of Nazara Technologies, a company headquartered in Mumbai. "NODWIN Gaming International Pte has signed definitive agreements to increase its existing 13.51 per cent stake in Freaks 4U Gaming GmbH to 100 per cent in tranches through a share swap valued at up to Rs 271 crore (Euro 30.3 million)," the company said in a statement. NODWIN will initially increase its existing stake in Freaks 4U to 57 per cent. "The remaining 43 per cent held by the founders Michael Haenisch, Matthias Remmert and Jens Enders will be swapped at a later time at its option. Existing investors of Freaks 4U Gaming will become shareholders of NODWIN Pte," the statement said. Freaks 4U generated Rs 223 crore (Euro 26.9 million) revenue in 2023. NODWIN acquired a minority stake in F

Congestion at Singapore port shows global ripple impact of Red Sea attacks

Retailers, manufacturers and other industries that rely on massive box ships are again battling surging rates, port backups and shortages of empty containers

Determined to respond to financial crime risks: Singapore PM Wong

Singapore published a national asset recovery strategy report as part of its efforts to enhance its anti-money laundering

Singapore costliest city for luxury spending, Hong Kong, London follow

Singapore has continued to attract the ultra-wealthy by maintaining its reputation for political and economic stability

Singapore rushes to clean-up oil slick after boat hits stationary fuel ship

An oil spill caused by a dredger boat hitting a stationary cargo tanker has blackened part of Singapore's southern coastline, including the popular resort island of Sentosa, and sparked concerns it may threaten marine wildlife as a clean-up operation was underway Sunday. The Netherlands-flagged dredger Vox Maxima struck the Singaporean fuel supply ship Marine Honor on Friday. It damaged the cargo tank on Marine Honor, which leaked oil into the sea. Singapore's Maritime and Port Authority said in a statement late Saturday the oil leak from the vessel had been contained, and that the oil that escaped from the damaged tanker had been treated with dispersants. But due to the tidal current, it said the treated oil had landed along shorelines including at Sentosa and other southern islands, a nature reserve and a public beach park. Sentosa, which attracts millions of visitors annually, houses one of Singapore's two casinos, golf courses and Southeast Asia's only Universal Studios theme ..

Beaches on Singapore's resort island of Sentosa closed after oil spill

Tanjong Beach Club, which is normally bustling with guests on weekends, was largely empty. Scattered tables with a handful of diners looked over the shoreline

Indian techie jailed in Singapore for hacking ex-employer's server

Kandula Nagaraju, a former employee of NCS, was found guilty of executing a cyber-attack on the company's quality assurance system after being fired

Super-wealthy may quit UK over Labour plans for inheritance taxes on trusts

Economists say overall tax levels are likely to approach an all-time high whoever wins the election, despite promises by both main parties not to increase major tax rates

India to clock highest growth in tech spending in 2024 in APAC: Report

Tech economy 'enjoys strong growth' due to digitisation push by central and state governments, it says

Indian gets 2-yr jail term for hacking ex-employer's system in Singapore

An Indian national was sentenced to two years and six months' jail term here for a charge of unauthorised access to computer material during which he deleted 180 virtual servers, costing his employer about SGD 918,000 (USD678,000). The sentence was pronounced on Monday. Another charge was taken into consideration for sentencing Kandula Nagaraju, 39, who was "upset" that he was fired by NCS in October 2022 due to poor work performance and his employment ended on November 16, 2022. Between November 2021 and October 2022, Kandula was part of a 20-member team managing the quality assurance (QA) computer system at NCS, a company that offers information communication and technology services. The system that Kandula's former team was managing was used to test new software and programs before launch. It consisted of about 180 virtual servers, and no sensitive information was stored on them. According to court documents, Kandula felt "confused and upset" when he was fired as he felt he had

Singapore authorities ramp up scrutiny of family offices, hedge funds

The government's push to tighten various investment regimes has accelerated since March, with agencies setting out additional requirements that must be met in the coming months

'India a big market; good to have stronger Lufthansa-Air India partnership'

India is a big aviation market and a stronger partnership between Air India and Lufthansa is good, as efforts of the Star Alliance are to bring the partners together to provide a unique value proposition for the passengers, the airline grouping's CEO Theo Panagiotoulias has said. Air India and Lufthansa are part of the Star Alliance, whose 26 member airlines come together at more than 50 global hubs to offer smooth connections across a global network. A management company, based in Frankfurt and Singapore, coordinates Star Alliance projects and activities. It includes airport co-location, digital infrastructure, frequent flyer integration and joint business lounge projects to improve the travel experience. Talking to PTI on the sidelines of IATA annual general meeting in Dubai this week, Panagiotoulias was bullish about the prospects in the Indian market that offers "so much of opportunities". "The alliance is to bring the partners together to provide a unique value proposition...

Surge in aerophobia treatment in Singapore after severe turbulence on SQ321

More people in Singapore are seeking treatment for aerophobia -- the fear of flying -- following the severe turbulence incident that struck a Singapore Airlines flight over the Irrawaddy Basin in Myanmar last month. Aerophobia can range from slight uneasiness to very severe panic attacks triggered by a thought or impending occasion of flying, according to a Channel News Asia report on Friday. While aviation experts say that flying remains among the safest forms of travel, some service providers have seen a spike in people seeking to address this fear, according to the report. On May 21, SQ321, en route from London to Singapore, encountered extreme turbulence. The Boeing 777-300ER aircraft was carrying 211 passengers and a crew of 18 when it made an emergency landing at Bangkok's Suvarnabhumi Airport. One passenger a 73-year-old British man died and dozens were injured, some of them seriously. Some SQ321 passengers painted a harrowing scene in an interview with the channel. Thos

Over $23 bn of sustainable infra projects identified at IPEF eco forum meet

As many as 69 sustainable infrastructure projects worth over USD 23 billion of investment opportunities were identified at the Indo-Pacific Economic Framework for Prosperity (IPEF) clean economy investor forum meet in Singapore, according to a statement. The statement of Singapore's ministry of trade and economy, which hosted the meet, out of the 69 projects, 20 investment-ready projects worth about USD 6 billion were presented to investors at business matching sessions. Remaining projects worth about USD 17 billion were also identified as potential investment opportunities in future. The forum brought together about 300 participants from the Indo-Pacific region's top investors, cutting-edge project proponents, innovative start-up entrepreneurs, ministers and senior government officials. The Indian delegation was led by Commerce Secretary Sunil Barthwal. Organised by Singapore's ministry alongside the 13 other IPEF partners, the forum aims to facilitate high-quality business and .

World leaders congratulate Modi ahead of third term as Prime Minister

Over 50 world leaders have congratulated Prime Minister Narendra Modi as he is set to take oath this week for a third straight term at the top office following the National Democratic Alliance's victory in the Lok Sabha polls. From India's neighbourhood and extended neighbourhood, presidents of Sri Lanka, the Maldives, Iran, Seychelles and prime ministers of Nepal, Bangladesh, Bhutan, Myanmar, Mauritius have sent congratulatory greetings to Modi. In a post on X, Singapore's Prime Minister Lawrence Wong described the victory of the NDA alliance as "historic" and said he was looking forward to working with his Indian counterpart to celebrate the 60th anniversary of diplomatic ties between the two nations next year. "Congratulations @narendramodi on the historic victory by the NDA for the third consecutive term. Look forward to working with you to deepen the Singapore-India partnership and to celebrate the 60th anniversary of diplomatic ties next year," Wong said on X. Among G20 ...

IPEF's clean economy investor forum meet in Singapore to begin on Jun 5

Senior officials from the commerce ministry will participate in the two-day clean economy investor forum meet in Singapore, organised by Indo-Pacific Economic Framework for Prosperity (IPEF), an official said. Commerce Secretary Sunil Barthwal, Additional Secretary in the ministry Rajesh Agrawal, and other senior officers have reached Singapore for the meet, which will start on June 5. "Indian projects would be pitched in the forum. Over 150 investors would participate," the official said. The Indo-Pacific Economic Framework for Prosperity (IPEF) was launched in May 2022 and it currently includes 14 partners -- Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, the US, and Vietnam. It provides a platform for countries in the region to collaborate on advancing resilient, sustainable and inclusive economic growth, and aims to contribute to cooperation, stability and prosperity in the region. Th

6,000 feet drop in 3 mins: Singapore Airlines flight's mid-air chaos. WATCH

A British passenger suffered a fatal cardiac arrest, and many were injured when a Singapore Airlines flight encountered severe turbulence mid-air. The plane made an emergency landing in Bangkok

Singapore economy grows 2.7%, fastest in 18 months as outlook improves

Separate data showed annual core inflation came in at 3.1 per cent in April, matching the rate in March

TN govt assures no need for panic amid new Covid wave in Singapore

The new Covid wave in Singapore is a "milder infection" and there was no need for panic and Tamil Nadu has the required infrastructure to face any situation, a top official said on Wednesday. Dr T S Selvavinayagam, Director, Directorate of Public Health and Preventive Medicine (DPHPM), said "there has been no significant (hospital) admissions" in Singapore following the outbreak. "In the last few weeks, it is being reported that there are Covid cases in South Asian countries like Singapore. As far as we (TN) are concerned, there is no need for any apprehension...the Singapore variant, KP.2 is a sub variant of Omicron and has been reported in some parts of India," he said. As many as 290 cases of KP.2 and 34 cases of KP.1, both sub-lineages of Covid-19 that are responsible for surge in cases in Singapore, have been found in India, according to official data. In a video released by the DPHPM, Selvavinayagam said the variant has been "so far giving only milder infection, no severe ...

Singapore Airlines says 'sorry' after flight turbulence kills 1, injures 71

Chief of Singapore Airlines Goh Choon Phong confirmed the airline's full cooperation with the authorities throughout the ongoing investigations and expressed his condolences to the victim's family