Singapore – Page 2 – The News Desk

Shein Still Needs to Prove It’s a Bargain

28Nov

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Money

Shein Still Needs to Prove It’s a Bargain

Built-in-China online fashion company Shein has swept the world with its fast-to-market, hip designs. It now needs to show investors that its breakneck growth can convert into bigger profit, too.Shein, now based in Singapore after moving its headquarters from China in 2021, has filed for an initial public offering in the U.S. that could take place next year. The company is probably looking for a valuation higher than the $66 billion implied by a fundraising round in May. That would put Shein’s market value comfortably above H&M’s $27 billion but below Zara’s parent Inditex’s $127 billion.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Singapore Looks Well-Equipped to Weather Financial Shocks, MAS Review Shows

27Nov

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World

Singapore Looks Well-Equipped to Weather Financial Shocks, MAS Review Shows

Nov. 27, 2023 12:06 am ET|WSJ ProSINGAPORE—Singapore’s corporate, household and financial sectors are in good shape to withstand shocks, but still face risks that could test their resilience, a review by the country’s central bank showed.The Monetary Authority of Singapore’s Financial Stability Review, which gauges how well the city-state’s financial system can weather global risks and domestic vulnerabilities, found that most companies, banks and households have sufficient buffers to manage shocks to income and financing costs. Stress tests showed broad resilience among the sectors but also some weak spots that are more vulnerable to the impact of factors like high interest rates and slower global growth, according to the review released Monday.Copyright ©2023 Dow Jones & Company, In...

India’S Bilateral FTA: India’s bilateral FTA with Singapore and as part of Asean needs to be studied together: GTRI

26Nov

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Business

India’S Bilateral FTA: India’s bilateral FTA with Singapore and as part of Asean needs to be studied together: GTRI

NEW DELHI: Think-tank GTRI on Sunday suggested that the government study the bilateral free trade agreement with Singapore and as part of the Asean bloc together while reviewing its trade pact with the 10-nation grouping. Singapore is a member of 10-nation Asean bloc with which India has a free trade agreement in goods since 2010. Separately, India also implemented a comprehensive free trade agreement (FTA) with Singapore in 2005. The Global Trade Research Initiative (GTRI) also suggested a similar exercise with Thailand, another member of Association of Southeast Asian Nations (Asean). India signed a limited free trade pact with Thailand in 2006. These suggestions assume significance as India and Asean have agreed to review their trade pact and are aiming to conclude the exercise by 20...

Singapore family office enquiries slow amid money laundering probe

24Nov

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Money

Singapore family office enquiries slow amid money laundering probe

SINGAPORE -- The pace of enquiries to set up family offices in Singapore has slowed amid an investigation into a case of massive money laundering in the city-state, though some remain hopeful that the wave of Chinese wealth flooding into the city has not yet crested.The number of single-family offices in Singapore nearly tripled from 400 in 2020 to about 1,100 by the end of 2022, data from the Monetary Authority of Singapore (MAS) shows. No official breakdown by country of origin is given, but lawyers and wealth advisors in Singapore have been courting wealthy Chinese looking to diversify from their home country. !function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n; ...

Singapore Airlines targets 5 per cent sustainable fuel by 2030 – Business Traveller

16Nov

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Travel

Singapore Airlines targets 5 per cent sustainable fuel by 2030 – Business Traveller

Singapore Airlines (SIA) and Scoot, the two airlines within the SIA Group portfolio of carriers, have announced their target of replacing 5 per cent of their total fuel requirements with sustainable aviation fuels (SAF) by 2030. Sustainable fuels are a key decarbonisation lever for the airline industry, given their potential to reduce carbon emissions by up to 80 per cent on a life-cycle basis compared to conventional jet fuel. This makes them critical to SIA group’s goal of achieving net zero carbon emissions by 2050. Discussions with fuel suppliers on opportunities to purchase sustainable aviation fuels are ongoing, SIA says. Over the last few years, the group has been working closely with partners, both in Singapore and around the world, to better understand the operational and com...

India’s outward FDI falls 12.14% to $1.88 bn in October: RBI data

13Nov

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Business

India’s outward FDI falls 12.14% to $1.88 bn in October: RBI data

Reflecting slack in global economic growth, India’s outward foreign direct investment (FDI) commitments fell by 12.14 per cent sequentially to $1.88 billion in October, compared to over $2.14 billion in September. They also saw over $2.66 billion in October 2022, according to Reserve Bank of India (RBI) data. Outbound FDI, expressed as a financial commitment, comprises three components: equity, loans, and guarantees. A slowdown in economic and business activities, especially in developed markets, has impacted direct investment flows, both inbound and outbound. Most investments (outward FDI) are in subsidiaries or stakes in foreign companies. A slowdown in the developed markets means fewer opportunities, according to bankers. Just like the weak outbound FDI numb...

Singapore Airlines to resume fifth daily Sydney flight – Business Traveller

9Nov

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Travel

Singapore Airlines to resume fifth daily Sydney flight – Business Traveller

Singapore Airlines (SIA) has announced it will be offering a fifth daily service between its Singapore hub and Sydney. Starting 27 October next year, the Star Alliance carrier will add a new 0645 daily flight to its Singapore schedule. This will be available for the six-month Northern Winter season, subject to regulatory approvals, Sydney airport said. SIA will deploy a mix of Airbus A380, A350-900 and Boeing 777-300ER aircraft on its five daily Sydney frequencies. This new fifth flight means Sydney airport will become the largest port in the airline’s network from Changi Airport, with more than 12,000 seats available for passengers each week. Singapore Airlines is also offering the fifth daily supplementary service during the upcoming Christmas holiday peak from 2 December to 14 Jan...

Singapore’s DBS Takes a Hit from Money-Laundering Affair

6Nov

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Money

Singapore’s DBS Takes a Hit from Money-Laundering Affair

Singapore’s largest bank, DBS, is financially exposed to the tune of around S$100 million (US$73.8 million) to a recent money-laundering scandal in the city-state, its chief executive said Monday.Piyush Gupta said at a press briefing that the bank had financed property purchases by individuals or companies that are being investigated by Singapore authorities. Police in August arrested 10 foreign nationals on charges including fraud and money laundering.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

6Nov

By adminNo Comments

World

Singapore’s DBS Takes a Hit from Money-Laundering Affair

Singapore’s largest bank, DBS, is financially exposed to the tune of around S$100 million (US$73.8 million) to a recent money-laundering scandal in the city-state, its chief executive said Monday.Piyush Gupta said at a press briefing that the bank had financed property purchases by individuals or companies that are being investigated by Singapore authorities. Police in August arrested 10 foreign nationals on charges including fraud and money laundering.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Singapore Airlines to host this year’s AAPA Assembly of Presidents – Business Traveller

1Nov

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Travel

Singapore Airlines to host this year’s AAPA Assembly of Presidents – Business Traveller

Singapore Airlines (SIA) will host the 67th edition of the Association of Asia Pacific Airlines (AAPA) Assembly of Presidents on 9 and 10 November 2023. The AAPA, which has 14 member airlines, is the trade association for scheduled international carriers based in the Asia Pacific region. More than 200 delegates, attendees, and members of the media from around the world are expected at the assembly, which will be held at Singapore’s recently revamped Mandarin Oriental Hotel. Delegates from member airlines, including chief executive officers and senior management, will be joined by representatives from key stakeholders such as the International Air Transport Association (IATA), International Civil Aviation Organization (ICAO), Airports Council International (ACI), Singapore’s Ministry o...