Will Singapore s Fave succeed in India following Pine Labs acquisition? ANI | Updated: Apr 19, 2021 12:16 IST
By Lee Kah Whye
Singapore, April 19 (ANI): Last week, Noida based Pine Labs announced that it is acquiring Fave, one of Southeast Asia s fastest growing fintech and e-commerce startups in a cash plus stock deal.
Pine Labs said in a press release that it is paying over SGD 60 million (USD 45 million) to take over the Singapore-based company. Fave s investors will receive cash whereas the founders and key Fave employees will receive cash and shares of Pine Labs.
Fave count among its backers Sequoia Capital India, China-based SIG Asia Investments, and Indonesian venture capital firm Venturra Capital.
What Indian tourists will find when they return to Singapore ANI | Updated: Apr 11, 2021 10:55 IST
By Lee Kah Whye
Singapore, April 11 (ANI): With vaccinations against the COVID-19 well underway around the world, many are hoping that leisure and regular business travel will soon resume.
According to government data compiled by the Our World in Data project at the University of Oxford, as of April 9, 6.2 per cent of Indians have received at least one vaccination shot whereas Singapore has vaccinated 19.3 per cent of its 5.8 million population with at least one dose of the vaccine as of April 6.
Singapore will have the capacity to vaccinate its entire population by the third quarter of this year but expect that the rollout will not be completed until the end of the year as some are still hesitant to take the vaccine.
Singapore s DBS Bank to focus on India and China for growth ANI | Updated: Apr 05, 2021 14:24 IST
By Lee Kah Whye
Singapore, April 5, 2021 (ANI): Singapore s DBS Bank, which acquired India s Lakshmi Vilas Bank (LVB) last November, plans to accelerate its business by doubling down on growth markets of India and China.
DBS Group CEO, Piyush Gupta, said this when briefing investors, analysts, and the media at its virtual annual general meeting (AGM) last week.
In spite of the health crisis and economic chaos caused by the COVID-19 pandemic, Southeast Asia s largest lender by total assets achieved its highest ever operating profit of SGD 8.4 billion (USD 6.3 billion). This was an increase of two per cent over the previous year. Total income held steady at SGD 14.6 billion (USD 10.9 billion) which was about the same as in 2019.
Foreigners including Indians bear brunt of Singapore COVID Job losses aninews.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aninews.in Daily Mail and Mail on Sunday newspapers.
ANI | Updated: Mar 15, 2021 11:45 IST
By Lee Kah Whye
Singapore, March 15 (ANI): Malaysian discount carrier AirAsia, which co-owns AirAsia India with Tata Sons, has launched a no-frills food delivery service in Singapore.
This is aligned with their super-app strategy to diversify revenues following the devastation caused by the COVID-19 pandemic to the airline industry. Airlines around the world are struggling to stay afloat and are finding ways to generate some revenue in whatever form.
In a report published on March 5, IATA (International Air Transport Association) said that air travel measured by Revenue Passenger Kilometres (RPKs) fell in January, from levels in December, and was 72 per cent lower than in the pre-crisis month of January 2019. This setback for the airlines passenger business was driven by tightening government travel restrictions across the world, following the emergence of COVID-19 variants.