Page 17 - Singapore

Singapore expects over 1.5 million tourists from India in 2024: STB

Expecting over 1.5 million Indian tourists this year, Singapore is focusing on increasing its hospitality infrastructure such as hotel rooms, and working on seamless and easy visas for them, a senior tourism official said on Wednesday. Before the pandemic-induced lockdown, Singapore had received 1.4 million tourists from India in 2019, which then recovered to 1.1 million in 2023. In 2024, the Singapore Tourism Board (STB) expects the number to go past the 2019 strength even as it acknowledged the potential of getting over 1.5 million visitors though it has not set any target given the huge tourism potential of the Indian market. With three offices in Mumbai, Delhi and Chennai, the STB is working on getting seamless and easy visas for Indian tourists, Poh Chi Chuan, executive director of Exhibition & Conference at the Singapore Tourism Board (STB) told PTI. The island state is building infrastructure for tourists and business travellers, such as 9,000 new hotel rooms that are being

EAM S Jaishankar to pay 5-day visit to Singapore, Philippines, Malaysia

External Affairs Minister S Jaishankar will pay a five-day visit to Singapore, the Philippines and Malaysia beginning March 23 with an aim to boost bilateral ties and discuss regional issues of "mutual concern". Jaishankar's first destination is expected to be Singapore. "External Affairs Minister S Jaishankar, at the invitation of his counterparts, will be on an official visit to Singapore, Philippines and Malaysia from March 23 to 27," the Ministry of External Affairs (MEA) said in a brief statement on Saturday. "The visit will focus on enhancing bilateral relations with the three countries, and would provide an opportunity for engagement on regional issues of mutual concern," it said. The overall situation in the strategic waters, including the South China Sea and Red Sea, are likely to figure in Jaishankar's talks with his counterparts in the three countries. There have been growing global concerns over China's sweeping claims of sovereignty over all of the South China Sea, a

India-Singapore lock key MoU on law, dispute resolution to boost ties

The MoU will boost cooperation between India and Singapore on a range of fields, including international commercial dispute resolution

UBS starts job cuts at HK, Singapore wealth units after profit slump

Wealth generation in China has stalled as the nation's economy struggles to regain momentum amid a property crisis and a selloff in equities

Will bring more investments from Singapore into India: Envoy Shilpak Ambule

The Indian High Commission here is working to get more and more investments into India's burgeoning economy led by aggressive progress being made in infrastructure, renewable energy and advanced technology space, envoy Shilpak Ambule has said. The High Commissioner listed three factors driving the growth saying for India, it will be a green growth with the development of renewable energy, while digital infrastructure has been put in place for smoother flow of economic activities and thirdly it will be sustainable growth. "We are very much committed to getting more investments from Singapore into India which is a growth story," the High Commissioner said at the '2024 Budget Analysis Singapore and India' event here on Tuesday evening. He also highlighted the wide range of economic activities driving the India growth story like continuing efforts on skilling youths, development of advanced technologies like semiconductors and efforts towards the growth of rural economy and empowering

'Singapore will do everything to extend help to those affected in Gaza'

Singapore's Home Affairs and Law Minister K Shanmugam said on Saturday that his country would do whatever best possible to extend help to those affected in Gaza amidst the ongoing Israel-Hamas war. Speaking at Soka Kindergarten in Tampines on the east coast of the prosperous city-state, where volunteers had gathered to pack supplies for children in Gaza, Shanmugam said that the continued efforts to those affected in Gaza showed who exactly Singapore is as a society, the Channel News Asia reported. "The continued efforts to raise funds and send aid to Gaza are a demonstration of who we are as a society, coming together across different religious groups to try and help," said Shanmugam. Interfaith non-profit group Humanity Matters organised the event, ahead of a possible ceasefire in Gaza. The group aimed to assemble 5,000 comfort packs, each comprising a backpack, an inflatable pillow, vitamin gummies, snack treats, a water bottle, a stress ball and a stuffed toy, according to the .

DBS CEO Piyush Gupta's total pay declined 27% to $8.3 million in 2023

In 2022, Gupta received a salary of SGD 15.4 million

Air India, Vistara merger receives Singapore's conditional approval

Singapore's flagship carrier announced its plan to merge Vistara and Air India in November 2022, in a bid to create a dominant full-service airline in the domestic and international markets

Singapore PM defends exclusive deal with Taylor Swift that irked neighbours

Singapore's Prime Minister Lee Hsien Loong on Tuesday defended an exclusive deal his city-state struck with Taylor Swift that prevents the pop star taking her current Eras Tour to anywhere else in Southeast Asia. Swift is performing six concerts from March 2 to 9 in Singapore under an exclusive deal that has been criticised by some Southeast Asian neighbours who complain they have been deprived of the tourist boom that her concerts have brought elsewhere. Lee confirmed that Swift was provided with certain incentives from a government fund established to rebuild tourism industry after COVID-19 disruptions to make Singapore her only Southeast Asian destination. He did not say how much the deal cost. He said he did not regard the deal as unfriendly toward his neighbours in the 10-country Association of Southeast Asian Nations. It has turned out to be a very successful arrangement. I don't see that as being unfriendly, Lee said in the Australian city of Melbourne where he is attending

PC, laptop imports from China surged by 11.3% to $276 million in December

In December, China's share increased to 89.4 per cent in total shipments of the items to India compared to 76.4 per cent share during April-December period of FY24

Adani holds Singapore meeting for first dollar bond since Hindenburg crisis

An executive arrived at an office tower overlooking the city state's Marina Bay in a black van on Wednesday, the first stop on a tour of international financial hubs to win over buyers

TVS Motor buys Killwatt shares worth Rs 35 cr to hike stake to 49%

TVS Motor Company on Monday said its Singapore-based arm has increased stake in the Germany-based electric mobility products and components start-up Killwatt GmbH to 49 per cent with the acquisition of an additional 8,000 equity shares for 4 million euros (over Rs 35 crore). TVS Motor (Singapore) Pte Ltd has agreed to acquire a further 8,000 equity shares in Killwatt GmbH following which its shareholding will increase from 39.28 per cent to 49 per cent by way of newly issued shares of the latter, TVS Motor Co said in a regulatory filing. The total consideration for the acquisition of 8,000 equity shares in Killwatt GmbH is 4 million euros, whereby 2 million euros will be paid on or before March 4, and the remaining 2 million euros will be paid at a later date, subject to the completion of a specific pre-agreed milestone by Killwatt GmbH, it added. Killwatt is a privately held firm engaged in businesses comprising development, design, manufacture, sale and distribution of products an

Singapore to impose green fuel levy on flights, passengers to bear costs

Under the European model, the carrier pays for the blended fuel and decides whether the cost will be passed on to passengers in ticket prices

S'pore police repeats call for not allowing Israel-Hamas-related protests

The Singapore Police Force has reiterated its stance on not allowing events related to the Israel-Hamas war to be held, amid online calls for a weekend march at the Singapore Botanic Gardens, a sprawling park in the diplomatic conclave close to the British and the US embassies. Police said on Thursday that they are aware of calls on social media to gather for an event called Walk-Out Singapore' to demonstrate views related to the Israel-Hamas conflict". The SPF said that they contacted the organiser on Thursday and advised her on the matter. "A police permit is required for such activities," Channel News Asia reported, citing the SPF. Police said organising or participating in such an event is an offence. Earlier this week, the authorities also said that they were aware of calls to protest against Israel at the Singapore Airshow and have warned that organising or participating in a public assembly or procession without a permit is illegal. The Israeli defence contingent is ...

Changi Airport looks at Jaipur-Lucknow as passenger generating destination

Singapore's Changi Airport Group (CAG) is looking at new destinations such as Jaipur and Lucknow for generating passenger traffic out of India, one of the bright spots for the city state's airport, according to a media report. Lim Ching Kiat, executive vice-president for air hub and cargo development at CAG, said that Changi Airport Group will work with airlines to add more capacity on high-demand routes by increasing frequencies or getting carriers to use bigger planes, The Straits Times reported. We are looking at new destinations like Jaipur and Lucknow. We think there's demand there, said Lim in an interview to the Straits Times. Lim has described India as another bright spot, as passenger traffic and connectivity have already exceeded pre-pandemic levels. Lim said that CAG will work with airlines to add more capacity on high-demand routes by increasing frequencies or getting carriers to use bigger planes. For example, South Korea continues to draw healthy demand for inbound a

The Singapore banker who tried to be Gandalf is now running out of time

Trouble is, after more than 14 years leading DBS, the wizard of Asian banking is running out of time: Succession is on the horizon

GIC buys units in Data Infrastructure Trust for Rs 933 cr via open market

Singaporean sovereign wealth GIC on Tuesday bought units in Data Infrastructure Trust for Rs 933 crore through an open market transaction. GIC through its wholly-owned subsidiary Anahera Investments Pte purchased 6.06 crore units of Data Infrastructure Trust (DIT) on the BSE. Data Infrastructure Trust (DIT) is a Sebi-registered Infrastructure Investment Trust (InvIT) that provides passive telecom infrastructure services. According to the bulk deal data available with the BSE, Anahera Investments Pte Ltd acquired 6,06,00,000 units, amounting to a 2.33 per cent of total units in DIT. The units were picked at an average price of Rs 153.95 apiece, taking the transaction value to Rs 932.94 crore. Meanwhile, private sector lender Axis Bank sold the same number of units at the same price. The unit of Data Infrastructure Trust gained 0.69 per cent to close at Rs 153.95 apiece on the BSE.

Singapore's Asia Genesis closes hedge fund after losing bets on China

The fund, which hedge fund veteran Chua launched in 2020, manages about $300 million

HDFC seeks Singapore bank licence to open its 1st branch in the country

The bank has applied to the Monetary Authority of Singapore for a banking licence and is awaiting approval, according to sources familiar with the matter.

NPCI expands UPI's linkage with Singapore's PayNow: Check details here

Currently, users of mobile-based applications such as Bharat Interface for Money (BHIM), PhonePe, and Paytm can access the service