China Blocks $2bn Purchase of Manus by Meta

Manus is an agentic AI startup. Meta wanted to acquire Manus to leapfrog ahead in AI. Although Manus was incorporated in Singapore, its owners hail from China.

Crypto Exchange Wins "In-Principle Approval" from Singapore Regulator

The MAS, or Monetary Authority of Singapore, has granted an "in-principle approval" to Independent Reserve, for digital payment token services. Independent Reserve was started in Australia in 2013.

Vedanta Increases Oil and Gas Production, Tullow Monetises Assets

Vedanta's oil and gas production has increased thanks to Cairn India (a subsidiary) which has made its 26th oil strike in Rajasthan. Its iron ore operations suffered due to suspensions in Goa (Western India, with an Arabian Sea coast) and Karnataka. Silver production was up to 13m ounces. Goa put a ban on iron ore transportation due to accidents on the roads.

Tullow Oil, another FTSE oil and gas producer, as part of its "portfolio management and asset monetisation" process, will be selling its assets in Bangladesh to Singaporean company, KrisEnergy, for $42m. This gives Kris a 30% stake in Block 9, which includes the Bangora gas producing facility. Tullow is named after a small town in Ireland, about 35 miles South of Dublin. It's Founder and CEO is Aidan Heavey.

Abu Dhabi Extends its Arms Across the Semiconductor Industry with $5.6bn offer for Chartered

Abu-Dhabi-based Atic will pay $2.5 billion for the shares and assume $3.1 billion in debt and convertible redeemable preference shares. Temasek have accepted the offer. Atic is on an acquisition spree to acquire and consolidate chip companies. Analysts say chipmakers have been struggling with excess capacity and need economies of scale to survive. TODAY newspaper in Singapore reports that the deal will help Chartered compete with Taiwanese rivals e.g.TSMC, and United Microelectronics Group (UMC). Temasek own 62% of Chartered shares.
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