Page 17 - Singapore

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

Major UPI Apps enabled to receive remittances from Singapore, says NPCI

Additionally, banks such as Axis Bank, DBS Bank India, ICICI Bank, Indian Bank, Indian Overseas Bank, and State Bank of India provide this functionality through their respective apps

World's most powerful passports 2024: Europe catches up with Japan, S'pore

South Korea, Sweden and Finland all climbed one spot to take joint second place, with access to 193 locations

Singapore looking to recruit APOs from India, China, Philippines & Myanmar

Singapore is considering hiring auxiliary police officers (APOs) from India, China, the Philippines and Myanmar, Law and Home Affairs Minister K Shanmugam told parliament on Wednesday. The city-State is looking to expand the jurisdictions from which it recruits APOs as the number from Taiwan has fallen in recent few years, As a result, the home affairs ministry has been considering expanding the jurisdictions where auxiliary police officers (APOs) can be recruited from. These potentially include Asian ones such as China, India, the Philippines and Myanmar, according to a Channel News Asia report. "We need to allow the Auxiliary Police Forces to recruit foreign APOs, to meet the increasing demand for security services," the Today newspaper also quoted the minister as saying. "(The Auxiliary Police Forces) face challenges in sustaining an adequate pool of APOs, given the shrinking local workforce, requirements such as physical fitness, and the job options Singaporeans have." He was

Singapore firms to invest Rs 31,000 cr in Tamil Nadu during investors meet

Global investors meet 2024 to see significant investment from Singapore in Tamil Nadu's sustainability and infrastructure development

Covid-19 peaks in Singapore but doctors watching out for possible surges

Doctors in Singapore believe the latest COVID-19 wave has peaked in the country, even as some clinics still face higher than usual patient loads, and doctors are watching out for possible surges in the coming months. The doctors are seeing cases stabilise, down by around 20 per cent from December, according to a Channel News Asia report on Friday. However, clinics are already planning for more man power and medication supplies in anticipation of another surge in the months ahead. Healthway Medical, for instance, now sees an average of 50 to 60 patients come in daily with respiratory infections across its 57 clinics, the report said. COVID-19 and influenza cases make up the bulk of them. This is around 10 per cent higher than regular patient loads but a slight drop from the peak around Christmas. The peak of all the upper respiratory tract infection cases has plateaued. Majority of people have already returned from travelling, CNA quoted head of primary care at Healthway Medical Gr

Indian-origin dy director pleads guilty of cheating Singapore Football body

An Indian-origin former deputy director at the Football Association of Singapore (FAS) has pleaded guilty to 15 cheating charges involving supplies to the sporting body through a company he owned. Another 30 similar charges will be taken into consideration for sentencing Rikram Jit Singh Randhir Singh, 43, who exploited his position to ensure that the sporting body's supply contracts were awarded to companies linked to him or his wife. The Singaporean admitted on Wednesday to dishonestly inducing FAS to disburse SGD 609,380, from which he and his wife, Asya Kirin Kames, made a profit of SGD 127,896, according to a report by The Straits Times. Their profits have been seized by the Corrupt Practices Investigation Bureau (CPIB) and will be returned to FAS, the court heard. Rikram joined FAS in December 2010 as a marketing manager and rose through the ranks to become a deputy director in July 2017. FAS is responsible for developing and advancing football in Singapore and is partially

Saudi fund outpaces Singapore's GIC with $31.6 billion splurge: Global SWF

That was higher than the $20.7 bn it invested the previous year, an increase that contrasts with a wider trend - globally state-owned investors deployed $124.7 bn, about a fifth less than prior year