Heineken launches global GenAI Lab in Singapore

By:
On:
In: Technology
  • collaborates with AI Singapore to establish itself as a global-connected baker.
  • By the end of 2025, the laboratory intends to establish a specialized, full-time professional team.

Left to right: Surajeet Ghosh, chief AI officer, Heineken; Dr Ralph Ostertag, director Digital & Technology APAC and Global GenAI Lab, Heineken; Laurence Liew, director, AI Innovation, AI Singapore; Kenneth Choo, managing director, APAC, Heineken; Melissa Guan, vice president and head, Consumer, EDB

The Heineken Company has made the announcement that Singapore will house its second global conceptual AI laboratory. The company stated in a statement that this program aims to transform how GenAI’s worldwide operations increase development, productivity, and client engagement. The Heineken GenAI Lab, which was established in a partnership with AI Singapore, represents a major step forward for the brewery in its quest to become the world’s related brewer.

Heineken’s key digital and tech officer, Ronald den Elzen, stated:” Heineken aims to be the nation’s best-connected baker. GenAI does play a growing part in better understanding customer needs, boosting customer engagement, and boosting company productivity. The establishment of the world GenAI lab is a major milestone in Heineken’s journey toward electric transformation, highlighting our proper emphasis on sophisticated GenAI technologies as key factors in growth, efficiency, and innovation.

However, Kenneth Choo, managing chairman, APAC, Heineken, expressed his satisfaction with the world GenAI lab’s collaboration with AI Singapore. This lab may act as a global center of expertise, improving our operations on a global scale while fostering native AI innovation.

By reaffirming our responsibility to Singapore and the Asia-Pacific place by taking this important step, Heineken is carefully positioning ourselves for a tenacious and prosperous future. We are excited to contribute to the development of innovative solutions that will change the drink industry for years to come by harnessing Singapore’s extraordinary AI ecosystem, experienced talent, and sympathetic government policies, he said.

The lab will be in charge of creating cutting-edge, flexible GenAI solutions for a range of vital business sectors, including complex agentic systems that can freely solve challenging issues, including clever financial reporting, next-generation customer support and knowledge management systems, from automated marketing content creation to smart financial reporting. In order to ensure responsible conduct in its operations, Heinrichein said its method combines human resources with AI capabilities in order to develop standardized solutions for global application.

The test is unique because Heineken and AI Singapore work together continuously, fostering constant information move and talent discussing. By the end of 2025, the test hopes to have a very specialized full-time team of experts ready to work for them. This group will bring together AI Singapore-recruited ability with Heineken’s online and technology specialists. Also, this core group will have access to the talent pool of AI Singapore, allowing them to connect with the best AI professionals and use the most creative approaches in the field.

Heineken is the first company to collaborate with AI Singapore in creating an AI laboratory and center of experience for AI innovation, according to Laurence Liew, director, AI innovation, at AI Singapore. We are developing a potent model for how cooperation between the private and public sectors can lead to creative solutions with real-world effect by combining Heineken’s business experience with AI Singapore’s cutting-edge AI abilities and skills.

Singapore welcomes the beginning of Heineken’s world GenAI lab, which capitalizes on Singapore’s reputation as a skill and innovation hub for businesses looking to create AI solutions, said Chan Ih-Ming, executive vice president, EDB. This program will give Heineken the ability to capitalize on Singapore’s innovative business potential while also acting as a useful platform for enhancing AI talent and capabilities.

Heineken points to the GenAI lab’s proven track record of successful GenAI implementations, including its modern knowledge and insight management solution that revolutionizes how its marketing teams entry customer and market insights, and its economic insights platform that provides fast access to a decade of fiscal data. These successes set the stage for the agency’s optimistic research agenda and demonstrate the agency’s commitment to GenAI-powered innovation.

Continue Reading

Trump tariffs: Will import duty war push India to open its markets?

By:
On:
In: Asia
13 minutes ago
Soutik Biswas
Getty Images US President Donald Trump with Indian Prime Minister Narendra Modi at the White House in Washington DC, United States, on February 13, 2025.Getty Images

India has usually turned to economic reforms in times of distress, with the most famous example being 1991, when the country embraced liberalisation in the face of a deep financial crisis.

Now, with US President Donald Trump’s tit-for-tat tariff wars and the global trade upheaval that has followed, many believe that India finds itself at another crossroad.

Could this be a major opportunity for the world’s fifth largest economy to shed its protectionism and further open up its economy? Will India seize the moment, just as it did more than three decades ago, or will it retreat further?

Trump has repeatedly branded India a “tariff king” and a “big abuser” of trade ties. The problem is that India’s trade-weighted import duties – the average duty rate per imported product – are among the highest in the world. The US average tariff is 2.2%, China’s is 3% and Japan’s is 1.7%. India’s stands at a whopping 12%, according to data from the World Trade Organization.

High tariffs increase costs for companies dependent on global value chains, hindering their ability to compete in international markets. They also mean that Indians pay more on imported goods than foreign consumers. Despite growing exports – primarily driven by services – India runs a significant trade deficit. However, with India’s share of global exports at a mere 1.5%, the challenge becomes even more urgent.

The jury is out on whether Trump’s tariff war will help India break free or double down on protectionism. Narendra Modi’s government, often criticised for its protectionist stance, seems to have shifted gears in recent years.

Getty Images India portGetty Images

Last month, ahead of Prime Minister Modi’s meeting with Trump in Washington, India unilaterally lowered tariffs on Bourbon whiskey, motorcycles and some other US products.

Commerce Minister Piyush Goyal has made two trips to the US to discuss a potential trade deal, following Trump’s threatened retaliatory tariffs, looming on 2 April. (Citi Research analysts estimate India could lose up to $7bn annually from reciprocal tariffs, primarily affecting sectors like metals, chemicals and jewellery, with pharmaceuticals, automobiles and food products also at risk.)

Last week, Goyal urged Indian exporters to “come out of their protectionist mindset and encouraged them to be bold and ready to deal with the world from a position of strength and self-confidence”, according to a statement from his ministry.

India is also actively pursuing free trade deals with several countries, including the UK and New Zealand, and the European Union.

In an interesting turn of events, homegrown telecoms giants Reliance Jio and Bharti Airtel have teamed up with Trump ally Elon Musk’s SpaceX to launch satellite internet services via Starlink in India. The move surprised analysts, especially after Musk’s recent clashes with both companies, and came as US and Indian officials negotiate the trade deal.

India’s rapid growth from the late 1990s to the 2000s – 8.1% between 2004-2009 and 7.46% from 2009-2014 – was in large part driven by its gradual integration into global markets, particularly in pharmaceuticals, software, autos, textiles and garments, alongside a steady reduction in tariffs. Since then, India has turned inwards.

Many economists believe that protectionist policies over the past decade have undermined Modi’s Make in India initiative, which prioritised capital- and technology-intensive sectors over labour-intensive ones like textiles. As a result, it has struggled to boost manufacturing and exports.

High tariffs have also fostered protectionism in several Indian industries, discouraging investments in efficiency, according to Viral Acharya, a professor of economics at New York University Stern School of Business.

This has allowed “cosy incumbents” to gain market power by consolidating their positions without facing much competition. As Mr Acharya, a former central banker, noted in a paper by Brookings Institution, restoring industrial balance in India requires “reducing tariffs to increase the country’s share of global goods trade and reduce protectionism”.

With India’s tariffs already higher than those of most countries, further increases could be especially damaging.

“We need to boost exports and a tit-for-tat tariff war won’t help us. China can afford this strategy due to its massive export base, but we can’t, as we hold only a small share of the global market, Rajeshwari Sengupta, an associate professor of economics at Mumbai-based Indira Gandhi Institute of Development Research, said. A trade conflict could hurt us more than others,” she added.

Getty Images Workers walk in front of an Apple iPhone 16 billboard along an under-construction flyover in Bengaluru on January 6, 2025Getty Images

In light of this, India finds itself at a crossroad. As the world undergoes a major shift, India has a “unique opportunity to shape a new vision” for global trade, says Aseema Sinha, a trade expert at Claremont McKenna College.

By lowering protectionist barriers in South Asia and strengthening ties with Southeast Asia and the Middle East, India has the chance to lead in shaping a new trade vision, positioning itself as a key player in a “re-globalised” world, Ms Sinha, author of Globalising India, says.

“By reducing tariffs, India could become the regional and cross-regional magnet for trade and economic activity, drawing in varied powers in its orbit,” she adds.

That could help India create the jobs it desperately needs at home. Agriculture, which makes up 15% of its GDP, accounts for a whopping 40% of employment, reflecting extremely low productivity. Construction remains the second-largest employer, absorbing casual daily workers.

India’s challenge isn’t in expanding its thriving service sector, which already makes up nearly half of total exports, but in dealing with the large pool of unskilled workers who lack the basic skills needed for service jobs.

“While high-end services are thriving, the majority of the workforce remains uneducated and underemployed, often relegated to construction or informal jobs. To provide meaningful employment to millions entering the workforce each year, India must ramp up its manufacturing exports, as relying solely on services won’t address the needs of the unskilled labour force,” says Ms Sengupta.

Reuters Indian farmer in UPReuters

One concern is that reducing tariffs could lead to dumping, where foreign companies flood the market with cheap goods, potentially harming domestic industries.

According to Ms Sengupta, India’s ideal approach to trade would involve a “universal reduction” in import tariffs, as it currently has some of the highest tariffs among its trading partners.

However, there is a caveat: China’s trade struggles, particularly with the US due to the ongoing trade war, could lead to Chinese dumping in India in the “short run”.

“To protect against this, India can use non-tariff barriers against China but only against this one country and only in cases of proven dumping. Barring that, it is in India’s interest to do a wholesale slashing of tariffs,” she says.

There’s also a growing concern that India may be overcompensating in its efforts to flatter the US.

Ajay Srivastava, founder of the Global Trade Research Initiative (GTRI), believes that India’s tendency to soften trade policies “based on rhetoric rather than economic pressure” shows a lack of assertiveness in global trade talks.

If this trend continues, he says, India may end up making even more compromises in its trade deal with the US, further “eroding its bargaining power”.

“In comparison to other major economies, India’s pre-emptive surrender on multiple trade fronts – without the US imposing a single country-specific tariff – makes it appear exceptionally vulnerable to pressure tactics.”

The broader consensus seems to be that India should capitalise on what could be the unintended consequences of Trump’s tariff wars. Pranjul Bhandari, chief India economist at HSBC, believes that “potential US tariffs may have become a catalyst for reforms.“.

“If supply chains are rejigged again during the second Trump presidency due to higher tariffs on large exporters, and the world looks for new producers, India may get a second chance,” she writes.

Creating jobs that manufacture goods for the world won’t be easy. India has largely missed the bus on low-end, unskilled factory work – jobs China dominated for decades. Automation is taking over. Without deeper reforms, India risks being left behind.

Continue Reading

‘Road tragedy’ was designed to deceive

By:
On:
In: South-East Asia
Police take Phiraphat Rakkun, second right, to re-enact the crime. TV SCREEN CAPTURE
Single correct, Phiraphat Rakkun, is taken back by police to recreate the crime. CAPTURE OF A Television Display

What most initially thought was a road accident led to the tragic death of Wichian Jityen, 32, on a painfully busy Sakon Nakhon road. However, additional investigation revealed that he had been the subject of a planned death, reports that has shocked the neighborhood.

The intricate deception’s creators wanted to mislead insurance companies of staggering 14 million baht.

What started out as a tragic story of a man’s horrible untimely passing on a quiet street in Wanon Niwat district has turned into a sinister plot that has left many wondering how long some people will go to get paid.

On Highway 2280 near the Ban Na Bua-Charoen Sin way, Wichian, known for his aggressive behavior and struggles with drug addiction, fell from a delivery truck and was hit by two different vehicles on the night of February 10.

Government and Wichian’s family initially assumed it to be a horrible accident.

However, as the investigation progressed, it became clear that the event was a result of a properly planned plan to arrange his death and gather millions in insurance money from various policies.

The discovery that the scheme’s genius was none other than an expert police inspector makes this event even more spooky.

Before his passing, Wichian’s girl, Ms Buarian, had spoken to Sakon Sonkaew, 38, about her son’s violent bouts.

Ms. Buarian trusted Mr. Sakon, who had been there for the family since their father’s accident in October of last year, when she was feeling hungry and vulnerable.

After her nephew harmed their families, she also asked him to “teach Wichian a lessons.” This honest plea had fundamentally turn into the launching pad for a terrible plot.

Mr. Sakon called Ms. Buarian the day of Wichian’s passing to say he was taking him out to “teach him a lessons.”

Later that night, the family of Ms. Buarian learned that her son had died in a road mishap. Ms. Buarian had no evidence to refute her doubts, despite the fact that she felt everything wasn’t right.

Investigators discovered anything troubling about the insurance laws of the vehicles involved in the plot’s unraveling.

Between them, three pickup trucks had 28 independent insurance policies, including a mix of voluntary and compulsory plans. The total amount of the compensation was 14 million baht, which is the actual sum that would be given to Wichian’s home after his death.

The most egregious aspect of the story occurred after the crash, when Mr. Sakon organized a collection of the insurance money with a power of attorney from Wichian’s crippled and illiterate family, Chanthi.

Mr. Sakon’s donation to my son’s death was only 100,000 ringgit. Ms. Buarian expressed dissatisfaction with the situation and the fact that no one had been arrested for what she thought was a murder.

Comprehensive firms intervene

The Office of the Insurance Commission and several insurance companies complained to police on February 25, 2025, about the irregularities that had occurred during the incident.

The Sakon Nakhon Provincial Police’s chief, Pol Maj Gen. Somjit Laomongkolnimit, requested an immediate investigation into the situation.

Officials began to piece collectively the issue, finding numerous red banners, including an autopsy report that revealed Wichian’s brow and knee injuries that appeared to be unrelated to a car accident.

The autopsy revealed no abrasions or incident marks, which are common in car accidents, according to Pol Lt Col Noppadol Buali, lead analyst at Wanon Niwat authorities station, adding more doubt to the initial story.

Investigators discovered a number of suspect people as they delved deeper.

Somsak Wobao, 56, who was in the first delivery vehicle Wichian was in, Phonchanok Onsurathum, 41, who was also in the next vehicle with the victim, Mr. Sakon, who was in the next pickup truck, and Phiraphat Rakkun, 30, who were in the next pickup truck, were all ordered to appear in court.

By March 8th, three of the defendants had been detained. Mr. Phonchanok fled, but he eventually turned himself in later that evening. None of the defendants admitted to the crime, despite being charged with deliberate crime.

Mr. Sakon claimed he had merely intended for the position to rise and that he had only invited Wichian for a walk. He claimed Wichian had run over after falling from the vehicle on his own. Additionally, he denied knowing the various two individuals.

The truth was revealed, however, as more and more facts emerged. Since both Mr. Sakon and Mr. Somsak were Kusa Kam Subdistrict Council people, the officers discovered that Mr. Sakon knew him.

Additionally, it was discovered that Mr. Sakon had paid Mr. Somsak, Mr. Phiraphat, and Mr. Phonchanok between 100, 000 and 200, 000 baht each after the event. The two men’s employment at Mr. Sakon’s bottled waters factory increased his involvement in the plan.

A significant milestone was made as the research progressed when Mr. Phiraphat confessed to the crime. When he led the authorities to the scene, he revealed the truth:” Wichian had been placed face down on the road for the cars to run over him,” they said as they recited his statement. Mr. Phiraphat acknowledged that he had participated in the offense to pay off his bills.

The architect is discovered.

The story was even more complex than the initial apprehensions of the authorities suggested. There was a third vehicle at the image, driven by a police investigator who parked nearby to observe the incident, according to Mr. Phiraphat. Eventually, the officer was identified as Pol Lt Col Nanmanas Phosri, 58, an experienced investigator who had previously been involved in road mishap investigations.

Authorities believe that Pol Lt. Col. Nanmanas was in charge of the system, having planned it at least a quarter prior to the incident. In his story, Pol Lt Col Nanmanas obtained numerous forced insurance policies from local businesses according to a surveillance video found by police.

The police inspector was detained on March 12 after showing up at Wanon Niwat authorities place to work. He appeared agitated and refused to respond to any press inquiries. He and the other four defendants face conspiracy to commit deliberate crime.

The arrest of a police officer for quite a hate crime has shook the neighborhood to the core, posing significant questions about the morality of law enforcement. The Office of the Insurance Commission has vowed to take legal action against those responsible, raising concerns about widespread fraud and healthcare fraud as a result of the situation.

Authorities are looking into the full scope of the crime as the research progresses, and they want to know if anyone else was involved. In addition, it has been questioned as to whether Pol Lt Col Nanmanas has been a part of any other related crimes in the past.

Pol Maj Gen Somjit declined to provide more information about how Wichian passed away or whether he was still intact before being taken to the hospital. The group is now eagerly awaiting justice, hoping that those responsible for this cold, calculated death will be held responsible. This event serves as a bleak reminder of how much money some people will spend, no matter how much.

Continue Reading

Commentary: Why China is suddenly flooding the market with powerful AI models

By:
On:
In: Asia

AI IMPLEMENTS INTERNATIONALLY

Most US tech companies currently enshrine AI as a unique resource, limiting access to their most effective types hidden behind paywalls. OpenAI, Google DeepMind, and Anthropic restrict access to their most sophisticated AI types, which they provide through subscription plans like paid subscriptions and business deals.

The US government is concerned about security risks associated with open-source AI, citing the possibility that illegal designs may be refined to fit into cyberweapons. In response to national security concerns, US lawmakers are now pushing to outlaw DeepSeek AI software from federal devices.

However, Foreign technology companies are acting in a very unique way. By using open-source AI, they avoid US sanctions, decentralize growth, and use international skill to improve their models. When China’s models can train and improve themselves on alternate hardware, Nvidia’s high-end chips also have less of an impact.

Through repetition, AI develops. Every new version improves the previous one, improving its shortcomings, enhancing functions, and increasing productivity. Chinese tech companies create an ecology where world programmers can continuously improve their models through empty purchasing AI models, without having to pay all the development costs. &nbsp,

The potential impact of this strategy could ultimately alter AI’s monetary structure. The ability to marketize AI as an unique product is a collapse if open-source AI gains the same level of power as custom US models. Why pay for finished versions when there is a free, comparable option?

This tactic could be a potent tool in the US-China software conflict for Beijing. US AI businesses that are built on business licensing and superior services may find themselves in a race to the bottom where there is ample AI but obscure profits.

Continue Reading

Debt plan spooks pundits

By:
On:
In: South-East Asia

According to experts, Thaksin’s theory” had fail.”

Thaksin Shinawatra meets supporters in Phitsanulok province on Monday. (Screenshot)
On Monday, Thaksin Shinawatra meets with followers in Phitsanulok state. ( Screenshot )

Academics warned the government on Wednesday about implementing former prime minister Thaksin Shinawatra’s plan to address family bill, warning that it might not solve the problem and have a negative effect.

They expressed caution against Thaksin’s government-led house debt buy-back program, which they acknowledged was possible but that if implemented alone, it might be a double-edged sword.

The government had organize under the initiative to arrange for individuals to pay off their debt to the bank system slowly.

The government had then assist people in rebuilding their life by removing their names from the National Credit Bureau (NCB), releasing them from bill, and allowing them to begin clean.

This action could get financed through private investment, as opposed to purely state funds, Thaksin claims.

Given the amount of household debt in Thailand, AMCs ‘ Associate Professor Wichai Witayakiattilerd, a professor at Thammasat University’s Department of Mathematics and Statistics, said allowing AMCs to obtain bad debts from financial institutions as opposed to using state money would be a more suitable strategy given the amount of home loan.

The nation’s household debt currently totals 15.54 trillion baht, with non-performing loans ( NPLs ) accounting for 4 %, or about 620 billion baht, according to the academic.

He predicted that an AMC could inject between 120 and 210 billion baht into the system, increase GDP by 1.5 days, and at least reduce bad debt by at least 50 % if it purchased bad debt at an average reduction of 35 %, which he termed a typical market mechanism.

He suggested that the system may be restricted to low-income people with debts under 500, 000 baht as opposed to being a blanket policy. He did point out that if consumers didn’t adopt better control and change their financial habits, the program would have risks.

Nonarit Bisonyabut, a senior research fellow at the Thailand Development Research Institute ( TDRI), said he disagrees with the proposal because it would only provide temporary relief rather than address the root cause.

He claimed that people are hoarding cash and that the present situation is due to rising loan, which makes lenders more cautious about lending. This limits the flow of money, and it has an impact on overall financial activity.

The request may provide a quick solution for home loan reduction right away. It fails to target the deeper structural issues, he claimed.

According to Mr. Nonarit, the problem may fix itself if the financial system makes the necessary changes.

The Bank of Thailand ( BoT ) stated on Wednesday that it is awaiting clarification on the policy.

The central banks said it focuses on promoting audio fiscal discipline to avoid moral hazard, and ensuring debtors you access upcoming credit at reasonable prices in order to address household debt.

Options require collaboration from different sectors, it said, given the complexity of Thailand’s home debt.

Sirikanya Tansakul, a member of the People’s Party ( PP ) in the party, expressed doubts about the effectiveness of Thaksin’s proposal because the bulk of the debt is in the informal sector, and commercial banks stand to gain the most.

She claimed that the government does intervene and that debtors might postpone making payments.

She even questioned whether an AMC has the resources to pay off the debt if the state doesn’t have enough money.

” I’m not sure what strategy will be employed to assist the individuals. The internet might want to ask Thaksin afterwards.

Continue Reading

China stocks back as US exceptionalism fades away – Asia Times

By:
On:
In: Asia, Finance

As US exceptionalism seems to be waning, the age of Wall Street dominating global markets with unwavering confidence is waning. China is poised to capitalize on this change.

A jumble of forces, including huge advances in artificial intelligence and an undervalued equities market, are influencing how China’s stock market is perceived as more attractive than its American counterpart.

Investors have clung to the notion that the US market was uniquely positioned to withstand outside shocks, with tech giant guiding an extraordinary business increase, for years. The so-called” Beautiful Seven” rose, thanks to AI hype, ease of money, and America’s perceived financial resilience. &nbsp,

However, business cycles don’t last long, and the modification that is currently affecting US stocks represents a turning point. &nbsp,

Under President Donald Trump, the S&amp, P 500, and Nasdaq have all slammed into correction territory, falling under the mass of concerns about trade wars and worsening governmental outlooks. &nbsp,

China’s MSCI Index, meanwhile, has experienced its best performance on record, growing by nearly 20 % since the start of the year.

Trump’s taxes have created new doubt in the US market. His extreme stance on trade, which the markets immediately perceived as bluster, is now causing actual disruptions. &nbsp,

Investors who previously found pleasure in American hegemony are being forced to consider protectionist plans ‘ effects, especially as inflation challenges rise. &nbsp,

As taxes increase prices and weaken global supply chains, the threat of stagflation is growing. It is a dangerous combination of slowing development and price increases.

The US Federal Reserve’s ability to intervene becomes restrained, leaving US businesses in an extremely prone position, if development stagnates while prices rise.

China, in comparison, is giving Wall Street something that it already lacks: new speed. With the rise of AI, a business that has been plagued by governmental repression and economic stagnation is resurrected. &nbsp,

The launch of DeepSeek’s R1 design earlier this year has rekindled investor confidence in China’s technological prowess. China’s AI industry offers broader, less expensive options than the US, where AI opportunities have been concentrated in a few already-inflated tech giant. &nbsp,

Foreign businesses that were once shunned by investors are now positioned for significant progress, despite government policy actively encouraging development and growth.

The pricing of Chinese stocks also affects the hinge. Over the past five decades, US tech names have become wildly cheap, but China’s equities have remained stagnant. Investors who see a market on the verge of a rebound are now finding that cheap to be attractive. &nbsp,

After centuries of driving US indices up and up, The Magnificent Seven are no longer a one-way wager. As the stock market is slack as the economy worries, profits are uncertain, and political headwinds grow, there is more of it.

The previously unshakeable trust in these business titans is waning, and Wall Street is now projected to continue to rise unchallengedly.

Then there is the overall financial photo. While the US’ GDP increased by 2.8 % in 2024, it had a price to pay for it. The governmental deficit ballooned, debt worries grew bigger, and market sentiment grew more nervous. &nbsp,

Trump’s first few months in office have been marked by a sharp focus on fiscal tightening, a move toward poverty that could further stymie growth. &nbsp,

In contrast, China’s economic policies lean toward signal, ensuring that major industries receive funding, and halting the US’s market fear of stagnation.

Global traders are taking notice. A new turning point has been reached with the redistribution of money from US equities to Chinese stocks. The storyline of where the next big possibilities lie is changing as well as business leadership is changing. &nbsp,

The notion of unquestioned American monetary supremacy is fading even as Wall Street continues to be a formidable force. Long-forgotten, China’s areas are demonstrating that they still have the ability to surprise and exceed.

The story of US individualism has been a driving force for years in international investing. However, narratives change, and markets are continuous.

Continue Reading

Migrant worker rights group calls for transport subsidy to help firms stop ferrying workers in lorries

By:
On:
In: South-East Asia

For its report, HOME held focus group discussions with 34 migrant workers who frequently travel in vehicles, as well as solicited opinions from other parties, including a former owner of a construction business, lorry drivers, bus owners, an scholar, and a representative from a travel business.

HOME suggested that the government work with business partners to establish dedicated bus firms and assist organizations that want to train and hire in-house drivers in order to address the shortage of bus drivers and trucks.

According to HOME, there is a three-year space between the legislative longevity of a public vehicle, which is 17 years, and that of a personal vehicle, which is 20 years.

The NGO also called for regular monitoring of information on fleet accidents, deaths, and injuries, as well as stricter enforcement of existing health regulations, such as limits on driving hours and deployment of acceleration limiters in lorries above 3, 500kg.

The customers police were” concerned by the small assembly charge” of speed limiters, according to Home Affairs Minister K Shanmugam in January. By the end of 2024, only about 50 of the roughly 17, 000 available lorries had completed the required assembly. The speed limit condition may start as early as next time, depending on the design of the lorry.

Home also suggested that the government offer subsidised public transportation passes to migrant workers, which might be desirable for those who reside close to MRT or bus stops.

According to interviews conducted with stakeholders for this report, “migrant workers usually begin their day sooner than the typical Singaporean worker, and end their workday afterwards, which suggests that the number of commuters on public transportation would probably not increase significantly,” said HOME.

It advised that immigrant workers ‘ lodging been strategically located to lower prices for employers and workers ‘ demands for public transportation.

To help continuous immigrant dormitories to be residing closer to, or within locals ‘ housing communities, it said,” Existing housing models for immigrant workers must be constantly disrupted in order to address the long distances that workers have to travel to get to their workplace every day.”

Senior Minister of State for Transport, Amy Khor, said last month that many micro, small, and medium businesses were unable to afford to ban lorry transport for migrant workers in response to parliamentary inquiries.

She cited the case of” special trades” that “typically need to transport a small crew of workers and equipment to several locations within a day, and ensure that both the workers and equipment can arrive at the site at the same time to reduce downtime.”

These were” not just financial constraints but practical operational challenges,” according to Dr. Khor. She also cited a “grave shortage” of bus drivers, which is a problem for the bus companies that run public transportation, tour buses, and school buses.

The government encourages migrant worker dormitories to be set up close to large construction sites, such as shipyards, and it also engages industry associations to promote alternatives to lorries, she continued.

Continue Reading

Kyberlife closes US mil investment round, sets sight on catalysing growth for Southeast Asia’s life science sector

By:
On:
In: Technology
  • claims to have reduced the typical procurement day by 40 %
  • Local development and digitalization of AI-powered procurement will be funded through funding.

The Kyberlife team at their Singapore-headquartered office

In its most recent investment round, Kyberlife, Singapore’s leading B2B healthcare e-commerce platform, raised US$ 3 million ( RM13.3 million ), led by Singapore’s leading B2B venture capital firm 5I Ventures, with East Ventures, A2D Ventures, and NUS Alumni Ventures as partners. The new funding will help the startup expand its local footprint and realize its goal of reviving the heath procurement process.

The Eastern health sector is expanding, and McKinsey projects that it will account for one-third of international sales by 2025. Acquisition of crucial test technology has become more difficult and time-consuming due to changes in supply chains and fresh compliance requirements. To address these issues, Kyberlife has developed an online industry that connects international researchers and suppliers to research facilities, medical facilities, and research centers in Southeast Asia.

With its open digital marketplace concept, Kyberlife, which is based on a platform-as-a-service ( PaaaS ) model, claims to revolutionize the sourcing process. The program offers a wide range of products, including lab equipment and life-science equipment, with 1.2 million products from 160 brands.

The startup’s ability as a one-stop shop allows academic and research labs, as well as other medical institutions, to purchase important equipment, breaking the mold of drawn-out sourcing procedures, extensive lead times, and transparent pricing common of traditional procurement. The program claims that by digitizing manual processes and streamlining the supply chain, the average sourcing period has been reduced by 40 %.

The platform’s proprietary technology is built to work smoothly with existing purchasing enterprise resource planning systems and direct-to-consumer online workflows. The business has improved the buying and selling knowledge over the past year by incorporating cutting-edge technologies like AI and data analytics to create personalized product recommendations.

Kyberlife stated that its most recent funding round will encourage geographical expansion and that it will put an emphasis on expanding into Indonesia by bringing in local vendors to expand internationally. Additionally, it intends to expand its customer and dealer network in Southeast Asia, with a goal of a twofold increase in its vendor portfolio in the next three years. Also, the startup has plans to invest in AI to improve the quality of products, improve procurement, and reduce the need to rely on sourced and acquired goods for sustainability.

“Kyberlife is a program created by professionals, specifically for professionals. Our goal is to make the complicated and time-consuming steps that scientists must take to obtain lab equipment and supplies for R&amp, D in the medical sector simpler. Ryan James Lim, co-founder and CEO of Kyberlife, expressed his gratitude for the ongoing help and look forward to collaborating with more care providers to advance R&amp, D attempts in Singapore and the broader Southeast Asia region.

We invest in businesses that undermine business and offer flexible options at 5I Ventures. Dieter Schlosser, managing companion at 5I Ventures, said that Kyberlife’s revolutionary approach to purchasing is a game-changer for the life sciences sector.

In the meantime, A2D Ventures ‘ general partner Ankit Upadhyay said:” We support Kyberlife’s ability to redefine how government institutions, laboratories, and healthcare facilities access crucial supplies. Our goal is to support revolutionary startups because of their system’s capacity to grow and inspire innovation in a sector that has millions of lives in it.

Wesley Tay, the superintendent at East Ventures, stated:” We believe Kyberlife may make a difference in digitizing and streamlining procurement processes in the medical and life sciences area in Southeast Asia and above, while also bringing local medical institutions greater admittance to international suppliers. We’re delighted to have Kyberlife join the East Ventures ecosystem, and we’re optimistic about their success.

A roster of supporters has been drawn to Kyberlife since its founding in 2021, including Maya Hari, a former global vice president at Twitter, professor Jeremy Lim, a former CEO of AMiLi, and Dr. Michael Gorriz, a former global CIO of Standard Chartered Bank, all of whom have contributed significantly to the company’s expansion.

Leading suppliers like Merck, Zymo Research, DKSH, Eppendorf, and Sartorius have been signed up to date through the platform, which includes over 160 global brands and 1.2 million SKUs. It provides major clients, including the National Cancer Center of Singapore, Duke-NUS, Nanyang Technological University, and National University of Singapore.

Continue Reading

Arctic LNG 2 deal could underwrite US-Russia detente – Asia Times

By:
On:
In: Asia

According to a report from Bloomberg on March 18,” Russia is wooing Arctic gas customers with living after US restrictions.”

According to unnamed sources, Novatek, the organization behind the Arctic LNG 2 proposal, is reportedly courting American, German, and yet American buyers away of Trump’s potential curbing or lifting of sanctions on the power initiative as part of the&nbsp, nascent&nbsp, Russian–US&nbsp,” New&nbsp, Detente.”

Notably, a senior executive cited in the history described this as” a way to store a rising China.”

Whatever they might purchase from Arctic LNG 2 from those three prospective clients, who all have problematic ties to China, may lower the amount Beijing could receive.

If they collectively replace China’s lost investments after secret Chinese companies withdrawn from Arctic LNG 2 according to American sanctions, there is also a possibility that they hip China out of the megaproject completely. If Japan and South Korea, which share similar interests, find involved as well, this might be accomplished.

In turn, this may put China under a lot more pressure on the continent in the form of comparatively less expensive LNG from countries like Australia and Qatar, both of which are British allies and whose export could be more quickly cut off by the US Navy in the event of an Eastern problems.

Russia is neutral in the Sino-US aspect of the New Cold War, just as China is neutral in the Russian-American one, with both putting their national interests first as their leaders frame and comprehend them.

Russia’s interests lie in giving the West privileged access to this same megaproject as an incentive for the US to coerce Ukraine into concessions, so China didn’t want to risk risking America’s wrath by abusing one of the latter’s most significant sanctions, ergo why it pulled out of Arctic LNG 2.

Therefore, the dynamics surrounding this particular issue and issue don’t align with Russian and Chinese interests. They are expected to responsibly manage their disagreements as usual in the spirit of their partnership.

These strategies are in line with the changing interests of the US. An Arctic LNG2 deal might be a way to squeeze China because the US wanted China to informally abide by some sanctions, such as this one and others, as a way to pressurize Russia for the Ukraine war while also curtailing or lifting sanctions on Russia ( including in a potentially phased manner ).

The US may not have anticipated this, but rather it’s flexibly adapting to the changing circumstances brought on by Russia’s impressive resilience in the&nbsp, Ukrainian conflict.

Russia didn’t suffer as a result of the sanctions; instead, it didn’t collapse under the pressure of the sanctions, and its military-industrial complex didn’t shut down. Instead, Russia gradually gained ground and is now on the verge of a resolution that could either end the conflict decisively or escalate it.

Russia might not want to risk risk whatever the US might do to stop it in the event of a breakthrough, hence why they have started negotiations at this point. The US doesn’t want Russia to reach its&nbsp, maximum goals&nbsp, let alone by using military means.

The series of attainable compromises that the two parties are currently discussing could force Russia to accept a ceasefire in exchange for a portion of its pre-conflict complex interdependence with the US-led West in order to lay the groundwork for a comprehensive agreement later.

The energy aspect could play a key role in achieving agreement, as explained here and explained in early January, but there might be other mutually beneficial terms to whatever ceasefire they might reach.

As Russia’s most important energy megaprojects, Arctic LNG 2 and Nord Stream could therefore feature prominently in any series of pragmatic compromises with the US.

Together, they could create a network of direct stakeholders for maintaining and strengthening a ceasefire in Ukraine, bringing those two together, the EU and the Indo-Pacific nations of India, Japan, and South Korea.

This might even be the outcome of Putin and Trump’s interim agreement.

This article was originally published on Andrew Korybko’s Substack, and it is now available for resale with kind permission. Subscribe to the Andrew Korybko Newsletter here.

Continue Reading

South Korea showing tell-tale signs of terminal decline – Asia Times

By:
On:
In: Asia

South Korea is the country’s major central bank if it is experiencing a terrible 2025.

Between slowing growth, surging home loan, Chinese recession and Donald Trump’s fast-intensifying trade conflict, Bank of Korea Governor Rhee Chang-yong may be excused for wishing someone else was in his boots.

A gruesome social issue, which has made Rhee the de facto leader of the nation of 51 million people, only makes matters worse.

Yoon Suk Yeol’s impeachment on December 14 as a political reply to his ominous implementation of military rules earlier that month created the political vacuum.

As South Korea’s Supreme Court mulls Yoon’s conventional treatment from energy, Asia’s fourth-biggest business is in purgatory at the worst imaginable time.

Worldwide investors have had a hard time figuring out who is actually in charge of Seoul’s affairs, who is running the business, and whether the “lost decade” that many investors had feared for South Korea is now a foregone conclusion.

International funds score organizations are currently at a loss and are, for the time being, pulling their blows. As Fitch Ratings researcher Jeremy Zook puts it:

While Korea has sufficient additional funding and governmental buffers to deal with a period of great political volatility, persistent political gridlock could eventually lead to declines in policymaking power, economic performance, and fiscal management.

Investors are being less lenient as Kospi catalog stocks and the conquered money are being traded. In the confusion and restlessness, Seoul is confirming, day after day, why international funds much assigned a” Korea cheap” to the area.

The potential for Korea to remain blatantly uninspired in terms of technology may be the most disturbing. In a field that has outperformed all others for ten years, there are beginning to show signs of declining it competitiveness.

Korea is feeling the” China result” from both ends. China’s” Made in 2025″ it drive is gaining real grip, and China’s overcapacity is flooding Asia with low but impressive products. There is a decline in mainland desire for chips.

The recent winds that US President Donald Trump hasimposed are hardly surprising. Supply-chain doubt, also, as trade substitute relationships have Korea Inc unclear where Washington’s red ranges on business exist.

All of this is putting the central banker-turned-defacto-Korean-leader Rhee to the test as few, if any, may ever realize.

Certain, Governor of the Bank of Japan, Kazuo Ueda, has a 2025 difficult task ahead of him. Continuing to hike rates to suppress prices could tip the country’s third-biggest economy into recession. And only four months before regional elections at a time when the Liberal Democratic Party’s ruling party, led by Prime Minister Shigeru Ishiba, is losing support.

In this context, Morgan Stanley MUFG’s general Japan economist Takeshi Yamaguchi says,” we retain our see that the bank will be on hold in the near future.”

In Washington, Federal Reserve Chairman Jerome Powell faces his own Trumpian problem. It’s difficult to see the Fed giving in to Trump’s requirements for lower rates now that the price is likely to rise more and inflation is re-heating.

Emily George, former leader of the Federal Reserve’s Kansas City tree, says,” You have prices wetness on the one hand.” ” At the same time, you’re trying to look at what influence could this have on the job business, if growth begins to pull up. So it’s a difficult situation for them for certain. That is the entangled web they’re in, according to George.

Some worry the US is courting downturn as Trump, through severe political uncertainty, risks sabotaging the biggest market. Returning to the Fed’s 2 % inflation target might require tighter policy, given that Trump’s Republicans are suing for tax cuts and US unemployment is only 4.1 %. That could lead to Trump attempting to flame Powell once more.

In Seoul, while, Rhee really is the adhesive holding a big, trade-reliant business up. &nbsp,

The BOK considerably lowers its GDP forecasts as a result of the BOK’s 25 basis point reduction to 2. 75 % on February 25. Most board members agreed that Korea is losing speed faster than expected amid weak domestic spending and international challenges.

According to the moments of the BOK gathering,” The local economy is growing more slowly than we had anticipated, and upside risks are growing from US price policies.”

More price reductions may be counterproductive at the same time. For instance, it may encourage households to up loans activity.

At the end of 2024, South Korea’s home debt-to-gross domestic product ratio was the second-highest among the main countries, at 91.7 %. Among the 38 Organization for Economic Cooperation and Development ( OECD ) countries, that is the second-highest.

Any move lower in Bloom costs risks incentivizing households to raise bill, adding to Korea’s biggest imbalances.

Nevertheless, Yoon’s December declaration of martial law has had a dramatic impact on the country. It was” Korea’s most bizarre and violent political crisis in ages,” according to Ian Bremmer, president of Eurasia Group, a risk consultancy.

But even before then, Yoon was extremely unhappy with voters for, among other things, failing to stage playing fields, address&nbsp, near-record&nbsp, household&nbsp, debts, increase productivity, empower women or improve corporate governance.

Between Yook’s inauguration in May 2023 and his disastrous December 3 blunder, there were hardly any reformist whirlwinds. The BOK was now securely in the driver’s seat.

More and more, the central bank has taken the lead in managing what, until perhaps very recently, was one of the globe’s most open and dynamic major economies.

Rhee has been urging the government to find a way to boost fiscal stimulus and has been calling for economic reinforcements for some time.

According to Ashok Bhundia, an economist at the Institute of International Finance,” A supplementary budget is also crucial to addressing downside growth risks.” ” If the government fails to pass a supplementary budget, then a deeper rate-cutting cycle may be needed”.

Unfortunately, there were indications that Yoon’s People’s Party was trying to reinvigorate Korea’s tech industry. The next six months will be the golden age that will determine the fate of our industries, according to then-Finance Minister Choi Sang-mok, who spoke the day before Yoon blew up his legacy and Korea’s reputation.

Choi, who later replaced Yoon as premier, added that “given the current challenges, including global economic shifts under the incoming US administration, competition from emerging countries and the rapid reorganization of global supply chains, &nbsp, the role of the government must evolve from a supporter to a player working alongside businesses”.

Investors were anticipating Seoul’s intention to introduce a package of support measures for the semiconductor industry at the time. South Korea is more uncertain than most other countries regarding Trump’s tariff plans, thanks to Samsung Electronics and SK Hynix, which are world leaders in the area.

Lee Kyung-mook, co-author of&nbsp,” The Samsung Way”, notes that increasing Seoul’s commitment to research and development is “essential” given how South Korea is” sandwiched&nbsp, between more developed nations” and China, which is both catching up and lowering costs.

Students of another Lee, the late Samsung Group chairman Lee Kun-hee, will be familiar with this metaphor. Lee warned in 2007 that Korea must move quickly upmarket to avoid being” sandwiched” between wealthy Japan and skepticism Chinese.

These days, Trump’s tariffs and China’s overcapacity are dimming South Korea’s outlook.

According to Evans Revere, senior fellow at the Brookings Institution, a Washington think tank, “growing strategic competition between the United States and the People’s Republic of China has ended the era in which South Korea could enjoy a robust trade relationship with China and a strong alliance with the United States.”

The China effect is already obvious. Last month, Korea’s semiconductor exports to China plunged at the same moment the Trump administration is slapping export restrictions on cutting-edge chips to Xi Jinping’s economy.

In February, South Korean exports to China and Hong Kong dropped by 31.8 % year over year. That is even worse than the January decline of 22.5 %. At the end of 2024, China welcomed about two-fifths of all Korean tech exports.

Chronic complacency is the root of the issue. Yoon is the fourth Korean leader since 2008 who took power pledging to generate more economic energy from the ground up, not just the top down.

That typically involved engaging in the” chaebol system” led by family-owned behemoths like Samsung, which contributed to Korea’s rise to the top 12 economies worldwide. &nbsp,

The backdrop is that Korea Inc knows that so much of what it does well has been commoditized. In terms of cars, electronics, robots, ships, and popular entertainment, China and other emerging Asian powers are now competing.

Taiwan’s innovation rate is constantly improving, while startups like Indonesia and Vietnam are boosting the competitiveness of tech “unicorn” startups.

The best way for South Korea to maintain its high living standards is to innovate in ways that propel the economy upmarket even faster. In order to move Korea upmarket into higher-value sectors, Yoon and the three leaders who came before him pledged an innovative “big bang” in this regard.

Lee Myung-bak left the chaebol system without making significant changes between 2008 and 2013. Then came&nbsp, Park Geun-hye, Korea’s first female president.

She boldly announced her intention to create a more” creative” economy in 2013 when she took office. Park vowed to expand tax breaks for startups, strengthen antitrust laws, and fine large corporations for stealing profits that could be used to bolster paychecks.

Park ended up going easy on the chaebols. She did indeed succeed in bringing back South Korea’s startup economy. Her efforts to increase the cash flow to entrepreneurs contributed to Korea becoming one of the top 10 incubators for tech unicorns, or businesses with market capitalizations greater than US$ 1 billion.

Moon Jae-in, Park’s successor, expanded the program from 2017 to 2022. Trouble is, chaebols continue to monopolize the financial fuel startups need to become major game-changers.

That is still Korea’s current issue. And as Yoon desperately tries to cling to power, Seoul’s political paralysis couldn’t come at a worse time for its tech-dependent economy.

Follow William Pesek on X using the hashtag# WilliamPesek

Continue Reading