While owning a vehicle in Brazil is becoming expensive, Singapore can elevate the concept of 'expensive' to a cosmic level. This island nation is recognized as the most expensive place in the world to purchase a car, with such high prices being attributed to the strict transport regulation policy in this small city-state.
At a recent permit auction on August 5th, a license granting the right to drive a car for ten years cost S$ 123,890 (equivalent to approximately R$ 499,014). This amount exceeds the cost of many luxury cars, and it pertains solely to the document that authorizes vehicle registration, not the vehicle itself.
This document is called the Certificate of Entitlement (COE) and is a key element of the quota system used by the government to limit the number of vehicles. Since 12% of the territory is covered by roads, the government maintains a zero-growth policy for private cars: a new car can only start moving after another one is taken out of service. Certificates are distributed at public auctions held twice a month by the Land Transport Authority (LTA), the country's transport body.
Quota A, the most competitive, covers internal combustion engine vehicles with an engine capacity up to 1,600 cm³ and 132 hp, as well as electric vehicles with up to 150 hp. This category reached the price of S$ 123,890. Quota B, intended for larger and more powerful engines, was sold for S$ 129,910. Category C, for trucks and buses, cost S$ 91,545, while Category D, mandatory for motorcycles, amounted to S$ 10,503. Category E is open and suitable for everything except motorcycles, and closed at a price of S$ 131,000. Only quotas C and E are transferable.
It should be noted that the price for Category A in August represents a temporary decrease. In July, the same certificate set a record high of S$ 129,000.
Adding the cost of the car itself makes the comparison even more complex. A non-hybrid Honda Civic sells in Singapore for S$ 211,899, which is about 165.6 thousand US dollars. In the United States, a 2026 Civic LX costs $25,890, including delivery charges. Thus, this Japanese sedan costs more than the annual income of the average family in the country, which is S$ 149,352 ($116.7 thousand).
At the top of the price ladder, the Mercedes-Benz GLE starts from S$ 572,888, which is nearly $100,000 more than a McLaren 750S in the United States.
However, the certificate is just one level of expense. The buyer must also pay a registration fee, a 20% excise tax on the import value, a 9% Goods and Services Tax (GST), and an Additional Registration Fee (ARF), which varies from 100% to 320% of the vehicle's value depending on progressive ranges.
After ten years, to keep the car, the owner must pay the Prevailing Quota Premium (PQP)—a rolling average of quota prices over the previous three months. This amounts to 100% of the cost to extend for another decade or 50% for five years, with no right to further extension. The deadline for this is one month after expiration; if missed, the car must be deregistered. Nevertheless, the queue is not shrinking: in the last LTA auction, 1,522 applications were received for Category A and 1,316 for Category B.
The spiritual technology startup AstroTalk has entered India's unicorn club, reaching a billion-dollar valuation through an Employee Stock Ownership Plan (ESOP) buyback program, according to available reports.
More than a hundred employees are involved in this program, which allows them to sell a portion of their shares and receive a share of the value created by the company. It is reported that this deal is financed by AstroTalk's operating profit, rather than by a new round of external funding.
AstroTalk was founded in 2017 by Puneet Gupta and Anmol Jain. Initially, the company operated as an online platform for astrological consultations but later expanded its activities into spiritual commerce. Through its AstroTalk Store, the company sells items such as stones, rudraksha beads, bracelets, and other spiritual goods.
In fiscal year 25 (FY25), AstroTalk recorded operational revenue of 1176 crore rupees, significantly exceeding the 651 crore rupees from the previous year. The company's total income reached 1214 crore rupees, and pre-tax profit increased to 285 crore rupees compared to 127 crore rupees.
The AstroTalk Store has become an important segment of the startup's business, generating over 140 crore rupees in revenue in 2025 and processing more than 1.6 million orders. Reaching a billion-dollar valuation represents substantial growth compared to the approximately $300 million recorded in 2024.
Indel Money, a non-banking financial company that does not accept deposits, announced on Wednesday its plans to raise up to 500 crore rupees through the public issuance of unsecured debt obligations (NCDs) with a face value of 1,000 rupees per unit.
According to the company's statement, the issuance will open on August 18 and close on August 31, with the possibility of early closure subject to obtaining the necessary approvals.
Investors can submit one or more applications to purchase NCDs, with a minimum application size across all series totaling 10,000 rupees, and subsequent amounts must be in multiples of 1,000 rupees.
The public offering includes a base volume of 250 crore rupees, with the possibility of oversubscription for a similar amount, which will bring the total issue volume up to 500 crore rupees.
The net proceeds from this issuance will be used for further lending, financing, or refinancing existing debts and/or debt servicing. This includes paying interest and/or repaying or prepaying the company's principal and interest, as well as for general corporate purposes. The company clarified that the funds from this issuance will not be used to pay early repayment penalties, if any.
Indel Money Director, Umesh Mohanan, noted that amid the stability of the Indian economy and the sustained healthy demand for credit, organized lenders, including NBFCs providing gold loans, play an important role in meeting the financing needs of individuals and businesses.
Mohanan added: 'This fundraising will further strengthen our capital position and support our ability to meet growing credit demand, realize our long-term growth goals, and comply with regulatory requirements.'
