Apollo Wins Bid for Singapore's $1 Billion Private Credit Fund
The Dutch Intersection Is Coming to Save Your Life
Advocates Fear US Agents Are Using 'Wellness Checks' on Children as a Prelude to Arrests
LA Homelessness Drops for Second Year
Manhattan, Chicago Murder Rates Drop in 2025, Officials Say
Mumbai Facelift Is Inspired by 200-Year-Old New York Blueprint
The Ministry for Trade and Industry and Enterprise Singapore in March introduced the $1 billion Private Credit Growth Fund, which aims to provide non-dilutive customized financing for high-growth local enterprises, according to a statement then. It will announce more details about the fund by the third quarter, the statement said.
The Private Credit Growth Fund, first introduced in the government's budget speech in February, is among Singapore's initiatives as it seeks to boost its presence in the burgeoning $1.7 trillion private debt space.
This follows the Monetary of Authority of Singapore's initiative from March, when it had sought public feedback on a proposed regulatory framework targeting the asset class. The framework aims to grant retail investors access to the private market with proper safeguards in place.
Adding onto the city state's private market ambitions, Singapore's sovereign wealth fund Temasek Holdings Pte. in December said it had set up a private credit platform with an initial portfolio of about S$10 billion ($7.8 billion), consisting of direct investments and credit funds.
Meanwhile, Temasek's unit SeaTown Holdings International last year raised $1.3 billion for its second private credit fund. The firm actively lends to companies across Asia Pacific, such as to Vietnamese conglomerate Vingroup JSC's units Vincom Retail JSC and Vinfast Auto Ltd.
What the Tough Job Market for New College Grads Says About the Economy
How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All
Godzilla Conquered Japan. Now Its Owner Plots a Global Takeover
Forget DOGE. Musk Is Suddenly All In on AI
The Quest for a Hangover-Free Buzz
©2025 Bloomberg L.P.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
17 minutes ago
- Yahoo
China EV brands Zeekr, Neta inflated car sales to hit targets
STORY: Chinese electric vehicle brands Zeekr and Neta inflated sales to hit aggressive targets. That's according to documents reviewed by Reuters and interviews with dealers and buyers. Documents from recent years show both companies arranged for cars to be insured before they were sold to buyers. This enabled them to book sales early under Chinese industry car registration practices, so they could hit monthly and quarterly targets, sources said. Switch Auto Insurance and Save Today! Great Rates and Award-Winning Service Affordable Auto Insurance, Customized for You The Insurance Savings You Expect Documents show Neta used this method for over 64,000 cars - more than half of vehicles sold from January 2023 to March 2024. Meanwhile, premium EV brand Zeekr used the same method to book early sales in late 2024, Reuters interviewees said. Vehicles booked as sold before reaching a buyer are called "zero-mileage used cars" in the Chinese auto industry. The practice has emerged out of cutthroat competition for sales in the world's largest auto market. The industry faces a moment of reckoning, with state media calling out the zero-mileage car practice. Meanwhile, China's cabinet has pledged to regulate "irrational" competition.
Yahoo
an hour ago
- Yahoo
China discreetly sets rare earth quotas for 2025
China has delayed and then discreetly issued its first rare earth mining and smelting quotas for 2025, a move that signals tighter control over the critical sector, reported Reuters, citing unnamed sources. The delay in this year's quotas is partly attributed to a proposal introduced in February to include imported ore in the quota system. This proposal was met with resistance from import-dependent companies concerned about potential restrictions on their feedstock supply. Rare earth elements (REEs), essential in various high-tech applications, are a key focus of global supply chain monitoring. China, as the world's largest producer of rare earth minerals, has traditionally issued these quotas to state-owned companies. Access to the quotas was restricted to only two state-owned groups, China Rare Earth Group and China Northern Rare Earth Group High-Tech, which were eligible last year, a decrease from six in previous years. The expected announcement in the first quarter was absent, and companies were reportedly instructed not to disclose the figures for security reasons. This strategic shift comes as China becomes increasingly protective of its rare earth resources, which have been a point of contention in trade negotiations with the US and EU. China has previously leveraged its control over rare earths, adding several elements to its export restriction list in response to US tariff hikes, disrupting supply chains and impacting manufacturers globally. The Ministry of Industry and Information Technology, which is responsible for issuing the quotas, has not responded to enquiries about the change in disclosure practices. In the past year, China's mining quotas were set at 270,000 tonnes (t), with growth falling to 5.9% from 21.4% in 2023. The smelting and separation quotas also saw an increase to 254,000t, a 4.2% rise from 2023. The quota system, in place since 2006, alongside corporate consolidation, has been used by Beijing to exert control over the industry's output. "China discreetly sets rare earth quotas for 2025" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
India's Reliance Retail sees 11.3% revenue growth in Q1 FY26
Indian conglomerate Reliance Industries Limited's (RIL) retail business has reported a 11.3% year-on-year increase in its net revenue, reaching Rs737.2bn ($8.55bn) in the first quarter (Q1) of the fiscal year 2026 (FY26), compared to Rs662.6bn in Q1 FY25. The growth is credited to a strategic expansion, omni-channel presence, customer reach, diversified consumption basket and integrated supply chain. Reliance Retail Ventures Limited (RRVL) executive director Isha Ambani stated: 'Reliance Retail delivered resilient performance during this quarter driven by our relentless focus on operational excellence, geographical expansion and sharper product portfolio. Our continued investments in cutting-edge technologies and differentiated product offerings have enabled us to serve our customers better and scale with agility." The retailer recorded a robust 12.7% year-on-year (YoY) rise in earnings before interest, taxes, depreciation and amortisation (EBITDA). RRVL reported an increase in its EBITDA margin of 20 basis points YoY, reaching 8.7%. The company attributes this rise to strategic measures, enhanced operating efficiency and stringent cost management leading to robust margins. RRVL reported that 'all segments performed well, with market leading performance in grocery and fashion'. JioMart, the company's digital grocery platform, has seen a significant uptick in its hyperlocal delivery services, with daily orders climbing 68% quarter-on-quarter and 175% YoY. The fashion and lifestyle business experienced an increase in both revenue and EBITDA, fuelled by the launch of new store formats and solid performance of its private labels. It also noted that the early onset of monsoons impacted consumer electronics and devices segment but stated that recovery is underway. RIL chairman and managing director Mukesh Ambani stated: 'Retail's business performance registered customer base expanded to 358 million, along with significant improvement across operating metrics. We are focusing on strengthening the portfolio of own FMCG [fast-moving consumer goods] brands, which resonate with the tastes of Indian consumers. Our retail business continues to enhance its ability to fulfil everyday as well as specialised needs of all customer cohorts, through a multi-channel approach.' The momentum of store expansion picked up during the quarter with the opening of 388 new stores, reaching 19,592. "India's Reliance Retail sees 11.3% revenue growth in Q1 FY26" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
