MARKETS & INVESTING | Staff Reporter, Singapore

Daily Briefing: GIC bags $1.65b ITC Holdings stake; Samsung Pay's Singapore launch date

And Singapore’s retail market is APAC's second most active.

Singapore’s sovereign wealth fund GIC Pte agreed to buy 19.9 percent of ITC Holdings Corp. from Fortis Inc. for US$1.23 billion (or $1.65b) in cash in one of the biggest investments Asian companies have made in U.S. power lines operators. Read more here.

Just a day after Apple announced that its Apple Pay mobile payment service would be available in Singapore, Samsung is getting more specific on when it will officially launch Samsung Pay there this year. Read more here.

Singapore has the second most number of new entrants of cafes and restaurants in Asia Pacific last year, making up 23 of the 63 new entrants in the region, a CBRE report released on Tuesday (19 April) revealed. Read more here.

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