Southeast region

- 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

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

- A + A KYIV/KRAMATORSK, Ukraine (May 26): Russian forces on Wednesday pounded Ukrainian-held twin cities in the Donbas region that is now the focus of the three-month war, threatening to shut off the last main escape route for civilians trapped in the path of their advance. After failing to seize Ukraine's capital Kyiv or its second city Kharkiv, Russia is trying to take full control of the Donbas, comprised of two eastern provinces Moscow claims on behalf of separatists. Russia has poured thousands of troops into the region, attacking from three sides in an attempt to encircle Ukrainian forces holding out in the city of Sievierodonetsk and its twin Lysychansk. Their fall would leave the whole of Luhansk province under Russian control, a key Kremlin war aim. Police in Lysychansk are collecting bodies of people killed in order to bury them in mass graves, Luhansk regional governor Serhiy Gaidai said. Some 150 people have been buried in a mass grave in one … [Read more...] about Russia pounds Ukraine’s east as town buries dead in mass grave

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

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

Share to Twitter Share to Linkedin North Carolina is well known as an outdoor adventurer’s dream destination and there’s never been a better time to discover this outdoor oasis. Whether you’re planning a quick getaway or a longer trip, there’s no shortage of things to do in North Carolina. While these outdoor adventures are best in the summer, there are many other opportunities to explore the outdoors in North Carolina at any time of year. Here are some of the best outdoor adventures in North Carolina. ZipQuest Waterfall & Treetop Adventure This 2.5-hour treetop tour with eight ziplines and three canopy sky bridges designed for families with children and thrill-seekers alike will have everyone’s adrenaline rushing and heart pumping! The course covers remarkably steep and varied topography, including Carver’s Falls, a 20-foot-tall waterfall that stretches 150 feet wide and is the largest waterfall in the central and eastern regions of the … [Read more...] about Discover North Carolina’s Top 6 Outdoor Adventures

- A + A KUALA LUMPUR (May 26): Malayan Banking Bhd (Maybank) reported on Thursday (May 26) that its first quarter net profit dropped to RM2.04 billion from RM2.39 billion a year earlier as revenue fell. In a statement to Bursa Malaysia, Maybank said revenue fell to RM11.91 billion in the first quarter ended March 31, 2022 (1QFY22) from RM12.22 billion a year earlier. "Maybank, Southeast Asia's fourth largest bank by assets, today said that its net profit for the 1QFY22 came in at RM2.04 billion compared with RM2.39 billion in 1QFY21, as geopolitical tensions and market volatility impacted the operating environment. "Profit before tax for the quarter (1QFY22) was lower at RM2.97 billion from RM3.17 billion a year earlier. Although the reopening of regional economies led to a pickup in loans growth and reduced impairment charges, the market weakness mitigated this positive impact," Maybank said in a statement. "While the outlook for the remaining part of the year … [Read more...] about Maybank 1Q net profit down to RM2.04b from RM2.39b a year earlier

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

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