Flipkart Internet, the online marketplace arm of the Walmart-backed company in India, has received an over SGD655-million (INR3,462-crore) investment from Flipkart Marketplace, Singapore, as per regulatory documents in India.
Category: Corporate
SBI plans to tap India-Singapore remittance corridor worth SGD1.16 billion
State Bank of India is one of the largest banks of the nation and also caters to thousands of overseas Indians living in different parts of the world, including Singapore. Recently, the bank opened its first remittance centre in Singapore christened ‘Ezy Remit’ which was inaugurated by HE Jawed
SEBI panel suggests relaxing FPI norms against NRIs, overseas Indian-backed funds
In a move that is set to bring major relief to foreign fund owners, a Securities and Exchange Board of India (SEBI) appointed panel has suggested relaxing foreign portfolio investor (FPI) norms restricting Non-resident Indians (NRIs) and overseas citizens of India from holding more than a five per c
Singapore’s Temasek to invest USD400 million in NIIF for boosting infrastructure in India
To boost infrastructure financing in India, Singapore-based Temasek has agreed to invest as much as USD400 million (SGD550 million) in the National Investment Infrastructure Fund (NIIF), a fund created by the Indian government to finance infrastructure in the country.
Grab’s revenue expected to double in 2019
Grab’s co-founder Hooi Ling Tan said it is on track to raise US$3 billion of funding before the end of this year.
OCBC apologises for software failure that caused outage for 3-4 hours
OCBC said the incident was due to a software failure that was not detected “due to a human oversight”.
Indian airlines expected to lose up to S$2.6 billion this year
Indian airlines have completely lost pricing power as a result of the rapid influx of capacity.
India’s aviation sector hit by cheap tickets, high oil prices and declining rupee
Experts have warned that churning out cheap tickets and an over-reliance on favourable fuel pricing are unsustainable in the long run.
Singapore’s GIC acquires minority stake in Indian realty firm Provenance Land
Taking advantage of the push for investment into India and economic partnership with Singapore, the city-state’s sovereign wealth fund GIC has acquired a 49 per cent stake in realty firm Provenance Land for an estimated SGD200 million (INR1,000 crore), according to sources.
Remitly updates Indian market services, signs R Madhavan as Brand Ambassador
Continuing its international expansion efforts to bring its service to more overseas Indian communities worldwide, Remitly, a private digital remittance company headquartered in the United States, today announced it has released an update to its money transfer service to India.
