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flying cars inch closer to reality in southeast asia but face hurdles

Island nations like Indonesia and the Philippines face logistical challenges that eVTOL aircraft could address, enhancing point-to-point travel for tourism, medical emergencies, and cargo. However, commercialization is slow due to certification hurdles and regulatory frameworks still being developed. While some countries are making progress, such as Singapore and Thailand, the overall readiness for flying cars in Southeast Asia remains limited.

ubs family advisory co-head thomas ang steps down to pursue culinary passions

Thomas Ang, co-head of family advisory at UBS Global Wealth Management, is stepping down after a 20-year career in wealth management, including nearly two years at UBS and over 15 years at Credit Suisse. In his farewell, Ang expressed gratitude for the support from his colleagues and shared his plans to explore culinary arts, starting with a course in French cuisine at Le Cordon Bleu in Bangkok.

Thailand and US postpone trade talks amid tariff concerns

Ministerial-level trade talks between Thailand and the US, scheduled for April 23, 2025, have been postponed, with further details to be provided by Deputy Prime Minister Pichai Chunhavajira on April 22. The delay comes amid rising tensions over a significant trade imbalance, as Thailand's surplus with the US surged to $45.6 billion in 2024, prompting concerns over potential tariffs that could impact economic growth and export-dependent sectors.

Taiwan's economic confidence plummets amid US tariff concerns and inflation fears

Economic sentiment in Taiwan has sharply declined due to concerns over potential US tariffs, with the current economy index dropping to minus-44.5 and consumer sentiment weakening significantly. Inflation expectations have risen, with 70% anticipating rates above 2%, reflecting a disconnect between government positions and public confidence. The National Development Council warns that Taiwan's GDP growth could be reduced from 3.14% to 1.53% as trade tensions escalate.

big banks and conglomerates dominate thailand's fintech landscape

Big banks and conglomerates dominate the fintech landscape in Thailand, shaping the industry's growth and direction. Their influence raises questions about competition and innovation within the sector, as traditional financial institutions leverage their resources to maintain a stronghold.

China warns nations against US trade deals amid escalating tariff conflict

China has warned nations against making trade deals with the US that undermine its interests, accusing Washington of tariff abuse amid escalating tensions. The Chinese Commerce Ministry stated it would respond resolutely to any agreements made at its expense, as the US pressures countries to limit trade with China. Meanwhile, Southeast Asian nations, heavily reliant on China, are navigating the fallout from the ongoing tariff war, with significant trade ties to both the US and China at stake.

digital wallets set to lead hong kong payments by 2030

Digital wallets are set to dominate Hong Kong's payment landscape by 2030, projected to account for 45% of online and 48% of in-store transactions, while credit card usage declines to 32%. AlipayHK leads the market with 42% share, amidst a diverse ecosystem of 17 e-wallet providers. The region's strategic cross-border payment initiatives further position it as a key financial hub in Asia-Pacific.

resolv labs raises 10 million to enhance stablecoin innovation and growth

Resolv Labs, based in Abu Dhabi, has secured $10 million in seed funding to enhance its yield-bearing stablecoin protocol, USR, which is pegged to the US dollar. The funding, led by Cyber.Fund and Maven11, will diversify yield sources and expand blockchain integration. Resolv aims to balance stability and decentralization through a two-tiered risk structure, catering to both low-risk and higher-risk investors.

xendit introduces free venture capital database for southeast asian startups

Xendit has launched a free database featuring over 150 active venture capital firms in Southeast Asia, aimed at connecting founders with potential investors across Indonesia, Singapore, Vietnam, Malaysia, Thailand, and the Philippines. This initiative comes at a time when the region faces a significant funding downturn, with 2024 seeing a 42% drop in venture capital investment. The database will be regularly updated to assist both first-time and experienced entrepreneurs in navigating a more selective investment landscape.
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