Singapore Prime Minister Lawrence Wong has removed Indian-origin Workers' Party chief Pritam Singh as Leader of the Opposition (LoP), and asked the opposition party to nominate another Member of Parliament (MP) to fill the position following Singh's conviction for lying to a parliamentary committee.
Bharti Airtel on Thursday said that Bharti Telecom and Singtel have mutually agreed to amend the existing shareholders' agreement to better align with business requirements and governance standards, and that as part of the changes, Singtel has relinquished "several key reserved rights".
Tech Mahindra, Trent, Reliance Industries, HCL Tech, Hindustan Unilever, and ITC were also among the laggards. However, Bajaj Finance, Tata Steel, Mahindra & Mahindra, and Bajaj Finserv were among the gainers.
Singapore Airlines will make an additional investment of Rs 3,194.5 crore in Tata Group-owned Air India post-merger of Vistara in November. The merger, announced on November 29, 2022, and set to be completed on November 11, 2024, will result in Singapore Airlines having a 25.1 per cent stake in the enlarged Air India. Full-service carrier Vistara, which started flying on January 9, 2015, is a joint venture between Tatas and Singapore Airlines, where the latter holds a 49 per cent shareholding.
Singapore Airlines' deal with Tata Sons (Tata) will inject a further SGD 360 million ($267 million) into Air India. It will give SIA a 25.1 per cent stake in the enlarged Air India group following its takeover by Tata and merger with Vistara Airlines. The November 2022 deal between Singapore Airlines and Tata Sons to further inject $267 million into Air India is one of the key strategic initiatives for future growth mentioned in the quarterly financial report. This agreement is still subject to regulatory approval. SIA in the statement said, "The merged entity will be four to five times larger in scale compared to Vistara, with a strong presence in all key airline segments in India.
Bharti Airtel promoter Bharti Telecom will buy a 3.33 per cent Airtel stake from Singtel for 2.25 billion Singapore dollars or about Rs 12,895 crore in 90 days' time, the telecom operator said on Thursday. Bharti Group chairman Sunil Bharti Mittal's family and Singtel are co-investors in Bharti Telecom (BTL). Singtel in a statement said that after the transaction, Singtel Group is expected to own an effective stake of 29.7 per cent in Bharti Airtel, which is estimated to be worth SGD 22 billion (about Rs 1.26 lakh crore).
The combined deposits of its Indian operations stood at SGD 9 billion and net advances were at SGD 5.6 billion at the end of December 2020.
Ambani is in good company. The likes of ultra-rich individuals like hedge fund billionaire Ray Dalio and co-founder of Google Sergey Brin have chosen Singapore to establish their family offices. So have British inventor James Dyson, famous for his bladeless fans and hair dryers and vacuum cleaners, and Zhang Yong, founder of China's Haidilao hotpot restaurant chain, reports Lee Kah Whye.
The red-shingled, colonial-style Capella is a five-star hotel on the Sentosa island, which boasts several resorts, hotels, two golf courses and a theme park.
Some of the workers claimed they were entitled to draw salaries of SGD 2,200 to SGD 3,300 per month but were paid only SGD 900
The three commemorative coins -- in gold, silver and nickel-plated -- feature an "affirmative handshake" between the two leaders, the scheduled date of the summit, the flags of both countries and the national flowers.
India, ranked 11 among Singapore's top 15 trading partners, accounting for 3 per cent of Singapore's total trade of SGD 984.9 billion in 2012, IE said.
Fortis Healthcare and its founders, the Singh family, on Thursday made a $2.3 billion (around Rs 11,000 crore) bid to acquire all the shares in Singapore-based hospital chain Parkway in response to an offer launched by Malaysian fund Khazanah.
The historic summit between United States President Donald Trump and North Korean leader Kim Jon-un that is going to be held on Jun 12 is the talk of the town these days. The Capella Hotel in Singapore was announced to be the official location of the summit. Take a look at this 30 acre luxurious resort where history will be made.
The body of a 28-year-old Indian construction worker, who died in a crane collapse accident in Singapore on Monday, is being flown back to Tamil Nadu where his wife, pregnant with their first child, and parents await.
The Singapore Minister applauded Prime Minister Modi's effort to make India the manufacturing hub of the world.
DBS Bank India on Monday said customers of Lakshmi Vilas Bank, which has now been merged with it, can continue to access all banking services, and interest rates on savings and fixed deposits are unchanged as of now. Lakshmi Vilas Bank (LVB) has now been amalgamated with DBS Bank India Ltd (DBIL), the wholly-owned subsidiary of DBS Group Holdings Ltd, DBS Bank India said in a statement.
Fortis Global Healthcare on Thursday said it has acquired a specialised under construction cancer hospital in Singapore from First Real Estate Investment Trust for a consideration of SGD 33 million (over Rs 115 crore).
Parkway, which is the biggest listed hospital chain in Asia, is now at the centre of a probable bidding war between the Singh Family-promoted Fortis Healthcare and Khazanah.
A 16-year-old Singaporean boy, a Protestant Christian of Indian ethnicity, was detained last month under the Internal Security Act (ISA) after planning to use a machete to attack Muslims at two mosques in March, on the anniversary of New Zealand's Christchurch attacks.
Modi hailed the close defence cooperation between the two countries and welcomed the completion of the logistics agreement between the two navies.
A Myanmarese woman who delivered a baby boy during a flight from Singapore to Yangon has payed tribute to the crew by naming him after the Singaporean budget airline.
Fourteen Indians were on Thursday jailed for clashing with a group of people in Singapore's Little India, a precinct of South Asian businesses where the country's worst riot in 40 years broke out last year.
India's largest private sector lender ICICI Bank has hit the Chinese debt market for a benchmark issue of about $500 million.
HDFC, TCS, RIL, ITC and ICICI Bank dragged the Sensex by over 100 points.
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