Daily roundup: Chinese EV brand JMEV officially launches in Singapore with the Elight sedan — and other top stories today, World News
1. Chinese EV brand JMEV officially launches in Singapore with the Elight sedan
Another day, another new Chinese car, and the latest to arrive on our shores is JMEV, an EV brand that is targeted at budget-conscious consumers... » READ MORE
2. 'We wanted to try somewhere with footfall': Ben Yeo opens new fish soup stall at Orchard Towers
Last year, local actor-host and entrepreneur Ben Yeo had to relocate his fish soup stall Tan Xiang Fish Soup due to manpower issues... » READ MORE
3. 'Best job ever': Netizens tickled by NParks contractors using gel blasters to chase away monkeys
In an effort to manage the growing monkey population in Punggol, some National Parks Board (NParks) contractors have turned to an unexpected solution: gel blasters... » READ MORE
4. 'Did you have to go this far?' Malaysia's TV3 slammed after Bella Astillah made to present award to actress in ex-husband's scandal
Malaysian broadcaster TV3 and entertainment programme Melodi are under fire after the audience witnessed a messy turn of events during their award show Anugerah Melodi Terhangat 2025 (2025 Melodi Hottest Awards) on Aug 3... » READ MORE
editor@asiaone.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
31 minutes ago
- Straits Times
Singapore's Carro targets US IPO with over $3.8 billion valuation, sources say
Sign up now: Get ST's newsletters delivered to your inbox If successful, Carro's listing would be the largest South-east Asian IPO in the US since Shopee parent Sea's listing in 2017. SINGAPORE - Singapore-based Carro, South-east Asia's largest used-car online marketplace, is preparing for a US initial public offering (IPO) as early as 2026 that could raise up to US$500 million (S$642.6 million), according to sources familiar with the matter. The company is aiming for a valuation of more than US$3 billion (S$3.8 billion), according to the sources, who could not be named discussing confidential information. If successful, Carro's listing would be the largest South-east Asian IPO in the United States since Shopee parent Sea's 989.3 million listing in 2017 and the third biggest South-east Asian high-tech IPO in the US, according to LSEG. It would also be the first major automotive tech and artificial intelligence or AI-driven commerce start-up from Singapore to go public in the US. Carro is on track to deliver US$100 million in annual earnings before interest, taxes, depreciation, and amortisation by its fiscal year ending March 2026, one of the sources said. The IPO size is still under discussion and may change depending on market conditions, the sources added. Carro did not immediately respond to an email request seeking comment on Aug 6. Top stories Swipe. Select. Stay informed. Singapore Some ageing condos in Singapore struggle with failing infrastructure, inadequate sinking funds World Trump eyes 100% chips tariff, but 0% for US investors like Apple World White House says Trump open to meeting Russia's Putin and Ukraine's Zelensky Singapore MRT track issue causes 5-hour delay; Jeffrey Siow says 'we can and will do better' Singapore ST Explains: What is a track point fault and why does it cause lengthy train disruptions? Singapore ST and Uniqlo launch design contest for Singapore stories T-shirt collection Asia Malaysia plans barrierless toll system modelled after Singapore's ERP Singapore S'pore and Indonesia have discussed jointly developing military training facilities: Chan Chun Sing Founded in 2015, Carro operates a digital platform that enables consumers and dealers to buy and sell vehicles, while also offering insurance, financing and after-sales services. Besides Singapore, it has a presence in markets across the Asia-Pacific region including Malaysia, Indonesia, Thailand, Japan, Taiwan and Hong Kong, its websites show. With over 4,500 employees across Asia-Pacific, Carro has raised more than US$1 billion in debt and equity from investors including Temasek, SoftBank and several other sovereign funds, according to its websites. A successful listing could pave the way for other regional unicorns such as Carsome, Traveloka and Xendit to follow suit. Beyond South-east Asia, a growing number of Chinese companies are also eyeing US listings, drawn by the potential for higher valuations despite ongoing geopolitical tensions. REUTERS
Business Times
31 minutes ago
- Business Times
India's Modi to visit China for first time in seven years as tensions with US rise
[NEW DELHI] Indian Prime Minister Narendra Modi will visit China for the first time in over seven years, a government source said on Wednesday (Aug 6), in a further sign of a diplomatic thaw with Beijing as tensions with the United States rise. Modi will go to China for a summit of the multilateral Shanghai Cooperation Organisation (SCO) that begins on Aug 31, the government source, with direct knowledge of the matter, said. India's foreign ministry did not immediately respond to a request for comment. His trip will come at a time when India's relationship with the US faces its most serious crisis in years after US President Donald Trump imposed the highest tariffs among Asian peers on goods imported from India, and has threatened an unspecified further penalty for New Delhi's purchases of Russian oil. Modi's visit to the Chinese city of Tianjin for the summit of the SCO, a Eurasian political and security grouping that includes Russia, will be his first since June 2018. Subsequently, Sino-Indian ties deteriorated sharply after a military clash along their disputed Himalayan border in 2020. Modi and Chinese President Xi Jinping held talks on the sidelines of a Brics summit in Russia in October that led to a thaw. The giant Asian neighbours are now slowly defusing tensions that have hampered business relations and travel between the two countries. Trump has threatened to charge an additional 10 per cent tariff on imports from members, which include India, of the Brics group of major emerging economies for 'aligning themselves with anti-American policies'. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Trump said on Wednesday that his administration would decide on the penalty for buying Russian oil after the outcome of US efforts to seek a last-minute breakthrough that would bring about a ceasefire in the war in Ukraine. Trump's top diplomatic envoy Steve Witkoff is in Moscow, two days before the expiry of a deadline the president set for Russia to agree to peace in Ukraine or face new sanctions. Meanwhile, India's National Security Adviser Ajit Doval is in Russia on a scheduled visit and is expected to discuss India's purchases of Russian oil in the wake of Trump's pressure on India to stop buying Russian crude, according to another government source, who also did not want to be named. Doval is likely to address India's defence cooperation with Russia, including obtaining faster access to pending exports to India of Moscow's S400 air defence system, and a possible visit by President Vladimir Putin to India. Doval's trip will be followed by Foreign Minister Subrahmanyam Jaishankar in the weeks to come. Export impact US and Indian officials told Reuters a mix of political misjudgement, missed signals and bitterness scuttled trade deal negotiations between the world's biggest and fifth-largest economies, whose bilateral trade is worth over US$190 billion. India expects Trump's crackdown could cost it a competitive advantage in about US$64 billion worth of goods sent to the US that account for 80 per cent of its total exports, four separate sources told Reuters, citing an internal government assessment. However, the relatively low share of exports in India's US$4 trillion economy is expected to limit the direct impact on economic growth. On Wednesday, the Reserve Bank of India left its GDP growth forecast for the current April to March financial year unchanged at 6.5 per cent and held rates steady despite the tariff uncertainties. India's government assessment report has assumed a 10 per cent penalty for buying Russian oil, which would take the total US tariff to 35 per cent, the sources said. India's trade ministry did not immediately respond to a request for comment. The internal assessment report is the government's initial estimate and will change as the quantum of tariffs imposed by Trump becomes clear, all four sources said. India exported goods estimated at around US$81 billion in 2024 to the US. REUTERS
Straits Times
an hour ago
- Straits Times
Britain asks China to clarify contested embassy plan
Sign up now: Get ST's newsletters delivered to your inbox The project comes as the Labour government is looking to reset long-fraught ties with Beijing. LONDON - The British government on Aug 6 asked China to explain partially redacted plans it has submitted for its new London embassy project, which has fanned worries from residents and human rights advocates. China has sought for several years to move its embassy from the chic Marylebone district to a sprawling historic site in the shadow of the Tower of London. It would be the largest embassy complex in Britain, and the project comes as the Labour government is looking to reset long-fraught ties with Beijing. On Aug 6, Deputy Prime Minister Angela Rayner sent a letter to the firm DP9 that represents the Chinese government, requesting details on some documents transmitted during a public inquiry. Ms Rayner sought in particular details on portions of the plans that had been 'greyed-out' or 'redacted for security reasons'. The letter was published online by Luke de Pulford of the Interparliamentary Alliance on China, an international body, one of its copied recipients. The British government gave China until Aug 20 to respond. Top stories Swipe. Select. Stay informed. Singapore Some ageing condos in Singapore struggle with failing infrastructure, inadequate sinking funds World Trump eyes 100% chips tariff, but 0% for US investors like Apple World White House says Trump open to meeting Russia's Putin and Ukraine's Zelensky Singapore MRT track issue causes 5-hour delay; Jeffrey Siow says 'we can and will do better' Singapore ST Explains: What is a track point fault and why does it cause lengthy train disruptions? Singapore ST and Uniqlo launch design contest for Singapore stories T-shirt collection Sport Son Heung-min joins Los Angeles FC in record MLS deal Singapore S'pore and Indonesia have discussed jointly developing military training facilities: Chan Chun Sing The proposed embassy site, which Beijing bought in 2018 for a reported US$327 million (S$421 million), once housed the Royal Mint. It was earlier home to a Cistercian abbey built in 1348 but is currently derelict. In 2022, the local authority, Tower Hamlets Council, unanimously rejected China's plans, which include designs by the renowned firm David Chipperfield Architects. In July 2024, Beijing resubmitted the proposals almost entirely unchanged. AFP
