Daily Archives: August 7, 2018


Singapore Stock Watch :Singapore shares end higher on Tuesday

Singapore Stock Watch :

SINGAPORE shares shut higher on Tuesday, with the Straits Times Index up 1.7 for each penny or 54.66 focuses to 3,340.

Around 1.99 billion offers worth S$1.37 billion altogether changed hands, which worked out to a normal unit cost of S$0.69 per share.

Gainers dwarfed failures 249 to 158.

The most effectively exchanged stock was Genting Singapore, which shut S$0.01 or 0.9 for each penny bring down at S$1.12 with 46.5 million offers evolving hands.

Different actives included ThaiBev and Ezion Holdings.

Singapore’s fintech stage Rate brings $15m up in token deal from Matrix Partners, others

Singapore-based fintech organization Rate has brought $15 million up in a token offering through its cross-outskirt installments blockchain venture Rate3 from speculators including Matrix Partners China and Fenbushi Capital author Bo Shen. The token deal was likewise joined by crypto-centered VC firms Node Capital, Kenetic, FBG Capital and Signum Capital. Continues will be utilized for specialized item improvement and extension to different markets. Rate3 is a blockchain-based settlement and leeway stage that encourages cross-outskirt installment and credit scoring for SMEs and people. “We trust that blockchains have not achieved standard selection in light of the fact that the present framework isn’t prepared yet. In the first place, there are no basic legitimate structures to tie possession and control of true resources for computerized tokens. Second, there are as yet many varying savvy contract gauges and in conclusion, the present character environment on blockchains is as yet divided.

Without normal benchmarks, government controllers will likewise think that its difficult to manage and review blockchain organizations,” said Rate prime supporter and CEO Jake Goh. The aggregate subsidizing got sums to 25,000 ether (ETH), the advanced token on the Ethereum organize. Rate3’s tokenized resources can likewise exit as Steller resources. Preceding the most recent gathering pledges, Rate had raised a $2.3-million pre-Series A round co-driven by Alpha JWC Ventures and Insignia Venture Partners in March 2018. Rate says it looks to guarantee honesty and security of monetary exchanges over its stage and relieve fakes in the web based business and online installment space that are required to reach $41.7 billion by 2020. “As a backer of blockchain advances and subsequent to having sponsored 400 organizations, the test for ventures to receive blockchain is extremely genuine. We trust Jake has the perseverance and foreknowledge to rally his group to execute Rate3’s vision of a tokenized world among ventures,” said David Su of Matrix Partners China. A few trades on which RTE tokens are exchanged incorporate Bibox FCOIN, Coinrail, ABCC trade, DDEX, DEX.top and IDEX.

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  • Gold prices hovered near a 17-month low on Monday amid lingering worries over the U.S.-China trade conflict, while a stronger U.S. dollar also put pressure on the yellow metal. Gold futures for December delivery on the Comex division of the New York Mercantile Exchange fell by $0.9, or 0.07%, to $1,224.4 a troy ounce by 1:50AM ET (05:50 GMT). Chinese authorities announced on Friday that it would impose tariffs, ranging from 5% to 35%, on $60 billion in U.S. goods that include many agriculture-related goods if the U.S. proceeded with placing more tariffs on Chinese imports.
  • Oil prices rose on Monday after Saudi crude production registered a surprising dip in July and as American shale drilling appeared to plateau. Markets also anticipated an announcement from Washington later on Monday on renewed U.S. sanctions against major oil exporter Iran. So-called “snapback” sanctions are due to be reinstated at 12:01 a.m. EDT on Tuesday, according to a U.S. Treasury official. Spot Brent crude oil futures were at $73.42 per barrel at 0653 GMT on Monday, up 21 cents, or 0.3 percent, from their last close.
  • For decades, the Friendship pipeline has delivered oil from Russia to Europe, heating German homes even in the darkest days of the Cold War. But a new pipeline that will carry gas direct from Russia under the Baltic Sea to Germany is doing rather less for friendship, driving a wedge between Germany and its allies and giving Chancellor Angela Merkel a headache. For U.S. President Donald Trump, Nord Stream 2 is a “horrific” pipeline that will increase Germany’s dependence on Russian energy.



  • Indonesia handed over to Malaysia on Monday a $250 million luxury yacht, impounded earlier this year as part of an international hunt for assets purchased with billions of dollars allegedly siphoned off from state fund 1Malaysia Development Bhd. Malaysia’s Prime Minister Mahathir Mohamad thanked Indonesian President Joko Widodo, in a video posted on his Facebook (NASDAQ:FB) page, for facilitating the yacht’s handover.
  • The Shanghai head office of China’s central bank has levied a fine of 4.12 million yuan ($601,846) on Alipay, the online payment platform of Ant Financial, for violating regulations on payment services, the regulator said on Monday. It gave no other details.
  • More than five years into a radical plan to boost the world’s third-biggest economy, the Bank of Japan sent a message of quiet surrender last week, admitting it couldn’t stoke inflation and walking back steps intended to do so. The man leading the BOJ away from its program of unprecedented asset-buying and low or negative interest rates is the man who largely crafted the measures in the first place, bank deputy governor Masayoshi Amamiya. A fan of classical music who has recently begun to favor Russian composers, Amamiya “plays the piano, guitar and flute well,” says a person who has known him for decades.


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