Alvarez Hires Ex-Apollo Executive to Head India Private Credit
Mukerji will lead a team of around 20 professionals over a period of time, said Nikhil Shah, leader – financial advisory and special situations at Alvarez & Marsal in India.
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Thailand pitches crypto-to-baht QR payments sandbox to revive slowing tourism
Crypto users might be tempted to cash in on near-peak prices in the Land of Smiles as early as this month, as regulators plot out a new payments sandbox. Thailand's government is reportedly preparing to unveil the TouristDigiPay initiative that would allow foreign visitors to convert digital assets into Thai baht for use at local merchants. According to local news outlet The Nation, a formal announcement is expected on Monday, during a press briefing led by Finance Minister Pichai Chunhavajira and other top officials. While no official list of eligible cryptocurrencies has been publicly released for the scheme, it's likely limited to tokens already sanctioned by Thailand's Securities and Exchange Commission. As of March, the SEC's approved list includes Bitcoin, Ethereum, XRP, Stellar, and the USDC and USDT stablecoins. Officials say the initiative aims to counter sliding tourist arrivals, particularly from China, and lower friction for crypto-savvy visitors. The Tourist Wallet will support QR code payments at launch, with future enhancements under consideration. 'It will initially function as an e-money system for currency conversion,' said Naphongthawat Phothikit, senior director at the Bank of Thailand, 'with future plans to link it directly to foreign debit and credit cards.' Officials say the pilot is part of broader efforts to boost inbound tourism, which has faltered despite a strong post-pandemic reopening. In the first seven months of 2025, Thailand recorded 19.3 million foreign arrivals, down 6% year-on-year, alongside a 4.2% drop in international tourism revenue. The Thai Ministry of Finance did not immediately respond to a request for comment. Crypto market movers Bitcoin has gained 0.6% in the past 24 hours and is trading at $118,360. Ethereum is up 2.2% in the same period to $4,550. What we're reading Ethereum stakers head for the exit, causing $3.8bn logjam — DL News Adam Back's $2.1B Bitcoin Treasury Play Set to Challenge MARA in BTC Holdings — CoinDesk Bessent Clarifies U.S. Bitcoin Reserve Plans — Unchained Gemini files IPO bid amid crypto rally while bleeding $282m — DL News Kyle Baird is DL News' Weekend Editor. Got a tip? Email at kbaird@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
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10 best hardware shops in Singapore
If an electrical appliance at home is faulty and you want to fix it yourself, start by buying the necessary tools from a hardware shop in Singapore. Hardware shops, sometimes known as Do-It-Yourself (DIY) stores, sell household hardware to improve your home (or office). Check out our list of the 10 best hardware shops in Singapore to gear up for home improvement projects. 1. HardwareCity HardwareCity is a Singapore-based company that is a leading retailer and wholesaler of building and industrial hardware. They offer a range of products, from basic hardware such as screws and nails to more specialised tools, including power tools and gardening supplies. The AIKO TIG200AD (S$599) is a welding machine that utilises TIG (Gas Tungsten Arc Welding) and also has the capability for MIG (Metal Inert Gas) welding. It's a versatile machine known for its small size, portability and reliability, making it suitable for various welding tasks. The machine is designed for both light fabrication and maintenance work. The SPILLFIX SK100SF 100L General Purpose Spill Kit (38kg) (100 litres) (S$399) is a set of equipment designed to handle spills of various liquids, including oils, chemicals and other substances. It has a 100 percent organic absorbent, SpillFix, which is effective on uneven surfaces. The kit includes a variety of absorbent materials, personal protective equipment (PPE) and disposal bags, all contained within a durable, 140-litre wheelie bin. For a full list of locations, opening hours & contact numbers, refer here. Facebook | Instagram | Website 2. Horme Hardware Horme Hardware is Singapore's largest home improvement and DIY hardware supplier, with more than 100,000 stock-keeping units (SKUs) across 22 categories. They offer a variety of products, including industrial, safety and household hardware for all your needs. The Ace Safety Helmet [EN397 / SS98] (S$3.45) offers protection against impacts, falling objects and potential workplace hazards. It is adopted in various industries, such as construction and industrial work. The helmet comes with a harness and is available in colours such as yellow, white, blue and red, with a head circumference range of 53-62cm. The Evon Safety Goggle Mask V12 Dark Smoke (S$4.65) is designed for eye and face protection. It has a wraparound design for a secure fit and shields against impacts, dust, mists and splashes. The dark smoke lens gives extra protection from glare and bright light. For a full list of locations, opening hours & contact numbers, refer . Facebook | Instagram | Website 3. Teck Cheong Hardware Teck Cheong Hardware is a supplier of power tools, hand tools and hardware supplies in Singapore. They are known for supplying leading brands such as Bosch, Dewalt, Hitachi, Makita and Ryobi and also offer services such as product sourcing and hardware supply. The Hozelock 7215 Starter Garden Hose (S$49.27) is a 15-metre-long hose designed for basic garden watering tasks. It's a hard-wearing hose that has a 12.5mm diameter, featuring 4 layers with braided reinforcement for durability. The hose is weatherproof, with ultraviolet and frost protection and is free from harmful substances such as heavy metals. The KING TONY 9TD404-0619M (S$32.05) is a stud tool that can effectively remove rounded, damaged, or corroded studs, bolts and other fasteners. This particular model, in particular, is a 1/2 inch tool that can handle studs that range from 6 to 19mm in diameter. For a full list of locations, opening hours & contact numbers, refer here. Facebook | Instagram | Website 4. Mega Hardware City Marketing Mega Hardware City Marketing focuses on providing a variety of hardware items for various needs and aims to be a reliable source for individual customers and businesses. Their 10-step Fibre Platform Ladder is a self-supporting stepladder with 10 steps and a platform at the top, designed for stability and safety when working at height. These ladders are commonly made from fibreglass. The material is non-conductive and also resistant to environmental factors, making the ladder suitable for various tasks, such as electrical work. The Nippon Paint 5101 Odourless Water-Based Wall Sealer is a low-Volatile Organic Compound (VOC), low-odour sealer designed for interior masonry surfaces. It protects against moisture and alkalinity, enhancing the performance of top coats such as emulsion paints. It's suitable for various surfaces such as plastered walls, brickwork and wallboards. For a full list of locations, opening hours & contact numbers, refer here. Facebook | Instagram | Website 5. Chee Fatt Chee Fatt is a Singapore-based hardware shop that is a leading distributor of industrial tools and equipment. The firm supplies tools to various industries across Southeast Asia. The RIDGID® micro CD-100 Combustible Gas Detector (S$440.35) provides quick readings to identify the presence of combustible gases. With adjustable sensitivity, it can detect extremely low levels of gases in seconds. It ensures proper gas line installations, checks for maintenance and repair needs and quickly pinpoints combustible gas leaks. Engineered with an aluminium core and Acrylonitrile Butadiene Styrene (ABS) plastic, the Pelican 1970 Pocket Clip Black Lumen Penlight (S$31.07) can survive tough work environments, yet is slim enough to snap into the helmet mount or hold with your teeth. The penlight activates with a click of the tail switch or light pressure for momentary use. 54 Tanjong Penjuru, Singapore 609035 +65 6294 2066 Mon to Fri: 8.30am – 5.15pm Closed on Sat & Sun Facebook | Instagram | Website Best Oven Singapore: Here are our top 11 & guide to choose one for your budget 6. Aik Chin Hin Hardware & Machinery Aik Chin Hin, founded in 1974, specialises in selling hardware and machinery. The shop prides itself on its extensive spectrum of products and a commitment to customer service. The Assure Padlock (Model PL-AS) (S$4.04) is a heavy-duty padlock that is designed to beef up security in various settings such as homes, warehouses and offices. It features a hardened steel shackle to resist sawing and prying as well as a hardened lock shaft cover to prevent drilling. Internally, the lock is constructed with multiple layers for more security. The Double-G Bumper Protector (6pc) | Model: GG-1256 (S$2.40) is a set of 6 adhesive bumper protectors to shield your vehicle's bumpers from scratches and minor impacts. They comprise a clear, adhesive material suitable for flat and smooth surfaces. For a full list of locations & contact numbers, refer here. Mon to Fri: 8am – 6pm Sat: 8am – 3pm Sun: 8am – 1pm Facebook | Instagram | Website 7. Dragon Hardware & Electrical Services Dragon Hardware & Electrical Services (DHES) is a Singapore-based online hardware platform that provides a range of hardware, plumbing and electrical products and services. The DHES Forged Alloy Steel Anchor Bow Shackle With Screw Pin (S$158.95) is a rigging hardware used for connecting and lifting heavy loads. It has a bow-shaped body made from forged alloy steel and a screw pin that inserts into the shackle body to fasten it. Their OEM Renee Luxurious Chrome Plated Lever Handle Replacement (S$11.95) is a genuine replacement part for Renee faucets, ensuring a perfect fit and restoring the faucet to its original function. It features a premium chrome plating for durability and corrosion resistance and is designed for easy, DIY replacement without special equipment. 34 Boon Leat Terrace, #05-20C, Singapore 119866 +65 8826 4544 Mon to Fri: 9.30am – 4.30pm Closed on Sat & Sun | | 8. Kak Guan Hardware Kak Guan Hardware, established in 1988, is a family-owned hardware store in Toa Payoh. They sell various hardware and construction products, including power tools and toolboxes. The HS729 Safety Vest G & W Reflective Gloss (S$2.80) is a high-visibility safety vest designed to enhance the wearer's visibility, especially in low-light or hazardous conditions. It features reflective strips and a bright colour (yellow/orange) to maximise your visibility. The FD100 Blue Platform Trolley Without Handle (S$30) is a material handling tool designed for moving goods in various settings such as warehouses, workshops and retail environments. It features a robust, joinable platform, allowing multiple trolleys to be connected for increased load capacity. The trolley is known for its sturdy construction, smooth-rolling wheels and ergonomic handle, making it both efficient and user-friendly. Ubi Avenue 1, Block 302, #01-21/23, Singapore 400302 +65 9688 585 Mon to Fri: 8am – 5pm Sat: 8am – 12pm Closed on Sun | 9. Li Fong Hardware Li Fong Hardware Enterprise is a Singapore-based supplier of construction materials and hardware, serving builders, contractors, repairmen, and homeowners for minor repairs and professional remodelling. The hardware shop in Singapore has been in business since 2000. Their Dongcheng Brushless Blower is a cordless leaf blower with strong performance and features such as a brushless motor, varied speed settings and an ergonomic design, making it suitable for various cleaning tasks. It is a popular choice for both professional landscaping and homeowner use. It offers a balance of power, runtime and user comfort. Their Safety Jogger SAFETYCLOG is a lightweight, slip-on safety clog for industries such as cleaning and catering. It's characterised by its slip-resistant sole, composite toe cap for impact protection, and easy-to-clean, hygienic design. The clogs are suitable for both wet and dry environments and often feature a removable footbed for custom orthotic insoles. Bedok North Street 5, Block 3018, EASTLink, #01-18, Singapore 486132 +65 6444 6220 / +65 6444 6231 Mon to Fri: 8am – 5pm Sat: 8am – 1pm Closed on Sun Facebook | Website 10. Selffix Selffix is a leading DIY hardware and appliance store in Singapore. They offer a wide range of products, including tools, hardware, home appliances and outdoor equipment. If you are looking to buy a mop that works wonders, get the 3M Scotchbrite Dual Spin Mop T7 (S$69.90). With its adjustable handle and innovative spinning mechanism, this set ensures thorough cleaning of various surfaces, from tiles to glass. The microfibre mop head, crafted from 3M's unique fibres, offers superior stain removal and water absorption. The Jackie Draineasy 1 Litre (S$12.80) is a liquid drain cleaner that uses enzymes to break down organic matter and unclog drains. It is designed to be environmentally friendly and safe for all piping types. The product is usually used for maintaining free-flowing pipes. For a full list of locations, opening hours & contact numbers, refer here. Facebook | Instagram | Website 11 best Instant Pots, multi cookers & electric pressure cookers to buy in Singapore [Mar 2025 update] The post 10 best hardware shops in Singapore appeared first on
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Modi's tax overhaul to strain finances but boost image amid US trade tensions
By Nikunj Ohri, Aftab Ahmed and Aditya Kalra NEW DELHI (Reuters) -Indian Prime Minister Narendra Modi's deepest tax cuts in eight years will strain government revenues but are winning praise from businesses and political pundits who say they will bolster his image in an ongoing trade fight with Washington. In the biggest tax overhaul since 2017, Modi's government on Saturday announced sweeping changes to the complex goods and services tax (GST) regime which will make daily essentials and electronics cheaper from October, helping consumers and also companies like Nestle, Samsung and LG Electronics. At the same time, in his Independence Day speech on Friday, Modi urged Indians to use more goods made domestically, echoing calls from many of his supporters to boycott U.S. products after Donald Trump hiked tariffs on imports from India to 50% as of August 27. The tax cut plan comes with costs given GST is a major revenue generator. IDFC First Bank says the cuts will boost India's GDP by 0.6 percentage points over 12 months but will cost the state and federal government $20 billion annually. But it will improve weak stock market sentiment and bring political dividends for Modi ahead of a critical state election in the eastern state of Bihar, said Rasheed Kidwai, a fellow at New Delhi-based Observer Research Foundation. "GST reduction will impact everyone, unlike cuts to income tax, which is paid by only 3%-4% of the population. Modi is doing this as he is under a lot of pressure due to U.S. policies," said Kidwai. "The move will also help the stock market, which is now politically important as it has a lot of retail investors." India launched the major tax system in 2017 that subsumed local state taxes into the new, nationwide GST to unify its economy for the first time. But the biggest tax reform since India's independence faced criticism for its complex design that taxes products and services under four slabs - 5%, 12%, 18% and 28%. Last year, India said caramel popcorn would be taxed at 18% but the salted category at 5%, triggering criticism about a glaring example of GST's complexities. Under the new system, India will abolish the 28% slab - which includes cars and electronics - and move nearly all of the items under the 12% category to the lower 5% slab, benefitting many more consumer items and packaged foods. Government data shows the 28% and 12% tax slabs together garner 16% of India's annual GST revenue of roughly $250 billion last fiscal year. 'A BRIGHTER GIFT' AND POLITICS Bihar is a key state politically and goes to the polls by November. A recent survey by the VoteVibe agency showed Modi's opposition has an edge largely because of a lack of jobs. "Any tax cut has wide public appreciation. But of course, the timing is purely determined by political exigencies," said Dilip Cherian, a communications consultant and co-founder of Indian public relations firm Perfect Relations. "It seems to be an indication of some mixture of frustration as well as recognition that there is a broad public pushback against high and crippling rates of taxation." Modi's ruling Bharatiya Janata Party has seized on his tax announcement, posting on X that on the Hindu festival of lights, Diwali, "a brighter gift of simpler taxes and more savings is waiting for every Indian." Modi has vowed to protect farmers, fishermen and cattlemen, following Trump's surprise tariff announcement on India, after trade talks between New Delhi and Washington collapsed over disagreement on opening India's vast farm and dairy sectors and stopping Russian oil purchases. The latest round of trade talks between the two nations set for August 25-29 has also been called off. ($1 = 87.5080 Indian rupees) 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
