8 southeast asian countries

- A + A KUALA LUMPUR (May 25): Malaysia is on track to continue leading the growth of Islamic banking in Southeast Asia, said S&P Global Ratings. South and Southeast Asia associate director Nikita Anand said the Islamic banking growth in Southeast Asia is projected to grow at a compound annual rate of 8% over the next three years, while Malaysia’s Islamic banking sector is estimated to grow between 6% and 8% over the next five years. “In Malaysia, local Islamic banks could account for about 45% of the overall commercial banking loan book by the end of 2026, from the current 37.5%,” Nikita said during S&P Global Ratings “Southeast Asia Islamic Banking Outlook” webinar on Wednesday (May 25). She said the large Islamic banking sector in Malaysia experienced a positive profit rebound last year, after a dip in 2020. “However, some of the small banks are still struggling and have yet to regain their footing. “Many of them are reporting losses and we believe … [Read more...] about S&P: Malaysia to continue leading Islamic banking growth in Southeast Asia

FILE PHOTO: Vendors load sugarcane onto a vehicle at a wholesale market in Kolkata, India, Oct 9, 2018. (Reuters) The world’s food problem is already severe as prices jump and protectionism flares but, a food security expert says there’s a good chance governments can stop it from getting way worse if they heed a lesson from the crisis in 2008: don’t panic. With a gauge of global prices already at a record following Russia’s invasion of Ukraine, a spate of nations have moved to curb exports in crops from wheat and sugar to cooking oils, exacerbating security risks for the rest of the world. Bad weather is a concern, too. Still, while wheat, corn and soy have soared, rice, a staple for more than 3 billion people, has so far been more stable. If nations do not panic or start hoarding, they can stop the current crisis from becoming a rerun of the one in 2008, when rice prices soared to put the region’s food security at serious risk, according to Peter Timmer, Professor Emeritus at … [Read more...] about Food crisis can be contained if Asia remembers not to panic: expert

CANNES (France): The Iskandar Malaysia Studios (IMS), a premier destination for filmed entertainment production in Southeast Asia, welcomes foreign production companies to increase film production activities in Malaysia. Its chief executive officer Rashid Karim said from the capacity point of view, IMS was extremely well equipped to undertake several productions concurrently. "For example, we have had a situation where we have six clients on the lot at the same time, and it was big production. So yes, we are ready for increased activity and we do have lot capacity currently and hopefully in the near future as we see more demand. "We have also started preliminary plans to introduce more facilities beyond just the standing sets, but more stages for example and more workshop spaces," he told Malaysian journalists here. He said IMS studios were spread over 20.23 hectares, including 2.43 hectares designated for building more structures, buildings and sets for clients. So far, about … [Read more...] about Iskandar Malaysia Studios ready to host more film shooting from foreign companies

X anPool, a cross-border payments infrastructure provider, aims to expand outside of the Asia-Pacific region amid growing global demand for both crypto and fiat currency settlements. The Hong Kong-based company—which has raised $32 million since inception in March 2019—plans to enter markets such as Europe and South America. “I see a lot of opportunity to scale up quickly,” says Jeffery Liu , founder and CEO of XanPool . At age 27, Liu is among this year's Forbes 30 Under 30 Asia honorees in the Finance & Venture Capital category who are using technology to disrupt the conservative world of finance. XanPool expects its user base (comprising of consumers and businesses opting to use alternative modes of paying for cross-border transactions) to reach 10 million by end-2022 from 500,000 currently. With XanPool’s gross merchandise value seen doubling to as much as $8 billion this year, the company (backed by investors including private equity firms Antler and Valar … [Read more...] about Meet The Fintech Founders And Startup Investors On The 2022 30 Under 30 Asia List

W hen it comes to consumer technology , Asia’s Forbes 30 Under 30 young entrepreneurs are on the forefront of developing new apps–from those for edtech t0 dating. Interest in Web3 apps is also increasing and these entrepreneurs are catering to that as well. Anticipating the rise of the metaverse, 27-year-old Risa Feng cofounded BUD in 2019 to enhance the new social experiences. Users of this free app can create and exchange 3D content, such as cuddly avatars and objects, in a drag-and-drop fashion. They can also make friends, chat with each other and start online battles in a recently added survivor mode. Following the app’s launch last October, Feng quickly rolled out BUD in app stores around the world. She declines to disclose active user numbers, but the app was downloaded 12.5 million times from Google Play and Apple’s App Stores worldwide, according to analytics platform Sensor Tower. “From text to pictures then to videos, every generation has its … [Read more...] about 30 Under 30 Asia: From Edtech To The Metaverse, Meet The Young Entrepreneurs Innovating In Consumer Technology

A s one of the first regions to be impacted by the Covid-19 pandemic and, arguably, the last to emerge from it, Asia-Pacific had its fair share of challenges over the past year. From ongoing travel restrictions to disruptions in supply chains, it has not been business as usual in this part of the world. But this didn’t stop young entrepreneurs across the region from trying new ideas, building on success, and in some cases starting their own businesses, despite the challenges. This year’s 30 Under 30 Asia honorees bring a lot to the table. From innovative ways of delivering e-commerce and online learning services to venturing into the Web3 space—their forward-thinking vision shows determination and optimism. They are redefining the future of business and society in Asia. Over 4,000 nominees applied to be on this year’s list–a record number for the Asia list–and the final 300 were selected and vetted by our reporters and a group of respected judges, including some of … [Read more...] about Meet The Forbes Under 30 Asia Class Of 2022

MANILA, Philippines – Generally fair weather is expected in most parts of the country including Metro Manila, even as a low pressure area was spotted off Mindanao and outside the Philippine area of responsibility, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) said Thursday morning. Localized thunderstorms, however, may still cause partly cloudy to cloudy skies with isolated rain showers in most areas throughout the day. The LPA has a slim chance of progressing into a storm, Pagasa weather specialist Benison Estareja said in an early morning forecast. “As of 3 in the morning ay nasa 365 kilometers ito, southeast of General Santos City. Itong low pressure area ay mababa ang tsansa na maging isang bagyo at posible na rin pong malusaw sa susunod na isa hanggang dalawang araw,” he stressed. (As of 3 in the morning, it was monitored 365 kilometers southeast of General Santos City. This low-pressure area has low chance of … [Read more...] about Pagasa: Generally fair Thursday weather; LPA spotted off General Santos City

ISTANBUL (Reuters) - President Tayyip Erdogan's pledge to carry out a new military incursion on Turkey's southern borders has triggered speculation about potential targets, with the Syrian town of Tal Rifaat emerging as a primary goal of any operation. Two days after Erdogan announced the plan, the pro-government Yeni Safak newspaper said on Wednesday preparations had been made for a new operation to expand "safe zones" already set up in northern Syria, with several goals identified. "Among the probable targets of the Turkish Armed forces and the (Turkey-backed) Syrian National Army, are Tal Rifaat, Ain al Arab (Kobani), Ain Issa and Manbij," the paper said. Turkish control of the towns, which lie on or close to a central stretch of the 911-km-long border with Syria, could extend and deepen its military presence from near the Mediterranean coast along nearly three-quarters of the frontier. So far, there have been few signs of military movements that preceded Turkey's last … [Read more...] about Erdogan’s vowed military operation returns spotlight to Syrian border towns

Thailand’s deputy health minister says the country’s international airports are being asked to screen arrivals for monkeypox symptoms. According to Sathit Pitutecha, the screening will apply in particular to travellers from 17 countries. Notably, arrivals from the UK, Spain, and Portugal will be closely screened. Travellers from those countries who have symptoms such as a rash will be asked to take a test. However, it’s understood no testing has been carried out so far. To date, the health ministry has not classified monkeypox as a dangerous communicable disease and Thailand has not reported any cases of the virus. However, the DDC says officials will need to determine the risks. According to Thassayu Dechachote, head of disease control at Phuket airport, 130 passengers have arrived from at-risk countries recently but no cases of monkeypox have been reported at this time. While Thailand does not currently have any plans for a vaccination programme, Dr Supakij Sirilak from … [Read more...] about Thailand News Today | Airports to screen arrivals for monkeypox

Tengku Zafrul: Our coffers will be OK. (Photo by Zahid Izzani Mohd Said/The Edge) - A + A KUALA LUMPUR (May 26): Malaysia’s economy is growing strongly thanks to the rise in commodity prices and central bankers “still have room” to tighten monetary policy to tackle accelerating inflation if needed, according to Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz. The economy gained speed in the first quarter of this year as the country dropped most virus restrictions. That allowed the central bank room to raise borrowing costs this month to pre-emptively fight inflation, even though consumer prices are gaining at the slowest rate in Southeast Asia. The central bank may resume hiking the benchmark policy rate again in the third quarter, according to a Bloomberg survey. “We think we are on the right track,” Tengku Zafrul told Bloomberg Television’s Haslinda Amin at the World Economic Forum in Davos, Switzerland. “Our interest rate has gone by up by 25 … [Read more...] about Tengku Zafrul says economy on track, has room to raise rates