Commentary: Were warnings of Hong Kong’s demise as a financial hub exaggerated?

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Third, in recent years Hong Kong has promoted blockchain innovation and development. For example, the Hong Kong Monetary Authority released the” FinTech 2025″ approach in June of that year to stimulate the financial industry to adopt systems by 2025. As of January, Hong Kong is home to roughly 1, 000 finance companies, and it just welcomed China-based online bank WeBank to demonstrate its engineering headquarters in the city.

This has made it easier for the city to advance both in the fast expanding financial sector and conventional finance. The town’s competitiveness in this sector has increased as a result of the government’s efforts to reduce regulation procedures.

Third, Hong Kong’s real estate market plays a component in Hong Kong’s treatment. The US Federal Reserve announced a 0.5 % interest rate cut in September, with additional breaks anticipated in the upcoming month. This may help stabilise Hong Kong’s house market and improve accommodation pricing.

The estate market’s health being one of the key economic indicators in Hong Kong, adding to people’s assurance in the city’s forthcoming economic outlook.

SINGAPORE REQUIRES CONTINUOUS Technology

Singapore serves as the gate to China, enabling Chinese companies to conduct outgoing business. Numerous Chinese companies rely on Singapore as their foundation for Southeast Asia and its growing global development because of its solid trade and financial ties with China.

Also, Singapore has worked to improve its own references to China, such as through the Chongqing Connectivity Initiative which promotes cooperation in financial services, aircraft, logistics, and information and communications systems.

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Singapore software game developers seek to crack global market

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While Chinese builders Cygames and SNK opened new headquarters in Singapore this year, along with their already-established rivals Hyundai and Capcom, businesses like Tencent, miHoYo, and NetEase from China have established bases there.

As more international games companies establish their presence in this country, Mr. Chia stated that the association is working closely with higher education institutions and government organizations to develop a native talent pool to match industry demands.

” This creates a lot of organisational knowledge. He told CNA that local talent who enters these companies can also emerge and offer options for some of their individual businesses and studios.

HUB FOR SEA GAMING SCENE

Mr. Chia added that Singapore could foster cross-collaboration and advancement with provincial game makers and serve as a hub for East Asian gaming.

” Collectively as a region … ( we can ) make better games, staff better studios… and drive the uplifting of the storytelling from our region to the rest of the world”, he said.

Southeast Asia has advantages over cookie-cutter games that are already on the decline, Mr. Barnard claimed, as well as low labor costs and distinct nations.

” We’ve reached a point where video game ‘ graphics are unmatchable. If you have some sort of art concept that’s interesting and does n’t look like anything else that’s out there … it can get a lot of attention”, he said. &nbsp,

Publishers who invest in and promote video games have said that the game’s creativity must be balanced with caution and be approachable to buyers.

” We have to consider ( whether ) … we present these stories and narratives in a way that matters to the global audience”, said Mr Brian Kwek, the founder of Ysbryd Games, an indie game publisher based in Singapore and Britain.

He added that investments are necessary for the native gaming industry’s continued expansion.

Mr. Leyden’s suggestion to fresh developers would be to create solid foundations with games that can appeal to the target market right away.

” If you are just starting up, do n’t shoot for the moon… walk before you run. Build up your expertise set and acquire it frontward”, he said.

” Create a game that speaks to you, that compels you, that your neighbour, your town, your country is going to enjoy. Create a skill set that the people you know you appreciate as a key component of your career.

According to data-gathering company Statista, the global entertainment market is projected to grow at an monthly rate of about 9 % to reach US$ 363 billion by 2027.

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Govt backs esports to boost economy

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The Thailand Game Show 2024 at Queen Sirikit National Convention Center. (Photo: Nutthawat Wichieanbut)
The Queen Sirikit National Convention Center hosts the Thailand Game Show in 2024. ( Photo: Nutthawat Wichieanbut )

According to Deputy Prime Minister Prasert Jantararuangtong, the government plans to promote the esports industry by working with big international gaming companies to train workers for the expanding sector.

Mr Prasert, also Minister of Digital Economy and Society ( DES ), on Sunday visited the Thailand Game Show 2024 at Queen Sirikit National Convention Center along with Asst Prof Nuttapon Nimmanphatcharin, director-general of the Digital Economy Promotion Agency ( Depa), and Warin Ratchananusorn, director of the Digital Startup Institute on Saturday. They extolled the agency’s high-tech potential and its ability to bring in new income.

He said the government intended to accelerate the development and development of new businesses, such as games, activities, and graphics because they are industries of chance.

The minister even gave Depa and its Digital Startup Institute a directive to help these areas so they can play a major role in boosting the nation’s attractiveness.

” Manpower is the key element that drives the games, games, and graphics businesses. The government wants to develop individuals or teams to compete in gaming at the highest level, or even to create and export games, he said. Thailand has many skilled players and developers.

Thailand may be a major regional hub for electric content. These are serious concerns the authorities had address”, Mr Prasert said.

” We will immediately start the Depa Esports job, which will cause a major revamp in the Thai games business”, he added.

The deputy prime minister and his team also spoke about fostering cooperation in the gaming industry with renowned international organizations and corporations for game creation, such as Nintendo Co, Konami Group, a Japanese multinational entertainment business, and the Korea Game Developers Association (KGDA ).

He stated that KDGA may invite some Thai activity developers to demonstrate their ability in the South Korean games industry. “KGDA is interested in establishing a game development skills center in Thailand to make manpower for the gaming industry these at home and other parts of the world,” he said.

Through the creation of facilities like the Digital Edutainment Complex, according to Asst Prof. Nuttapon of Depa, the government intends to foster investment in the gaming, esports, and related industries.

In the Chon Buri district of Sriracha, the page will become located on a 20, 000m2 site inside the Thailand Digital Valley.

He claimed the structure would serve as a testing ground for modern technology and support the Thai gaming and esports industries.

More than 50 top game designers and engineers from domestic and international firms were even showcased at the Thailand Game Show 2024, which ended on Sunday.

Culture Minister Sudawan Wangsuphakijkosol stated at the ceremony’s opening ceremony on Friday that the market for gaming in Thailand was worth about US$ 1.3 billion ( roughly 44 billion baht ) last year, up 10 % from 2023.

Thailand’s gaming industry is thought to be the next region in Southeast Asia with the fastest growth.

” It is a company that creates value and new jobs, whether as an esports company, channel, figure artist, or professional cosplayer.

These are promoting growth and are in line with the developments in the modern economy’s period, she said.

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Govt to focus on R&D for EVs, AI and clean energy

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PUBLISHED: 18 Oct 2024 at 19: 35

Prime Minister Paetongtarn Shinawatra chairs a meeting of the National Higher Education, Science, Research and Innovation Policy Council at Government House on Friday. (Photo: Royal Thai Government)
The National Higher Education, Science, Research, and Innovation Policy Council meets at Government House on Friday, presided over by Prime Minister Paetongtarn Shinawatra. ( Photo: Royal Thai Government )

According to Prime Minister Paetongtarn Shinawatra, the government will concentrate more on R&D, particularly in science and innovation for electric vehicles ( EV ), AI, advanced medical industries, and clean energy.

During this year’s second meeting of the National Higher Education, Science, Research and Innovation Policy Council she chaired on Friday, Ms Paetongtarn emphasised the importance of advancing higher education, technology, research and innovation in Thailand to gain the people and the country.

She claimed that the conference was focused on conducting research to advance vital national sectors. This is in line with the need to encourage investment and promote development in various areas and with workers market demand.

Ms Paetongtarn said exclusive attention was given to Thailand’s” 4 2″ business: EV, AI, advanced medical companies, clean energy shift and green organic asset management.

The prime minister added that the government is putting emphasis on staff development to promote business development, and that it is committed to promoting lifelong understanding and opportunities for mentoring, particularly through the creation of learning platforms promoted by the National Credit Bank.

Ms. Paetongtarn expressed hope that the efforts of the National Higher Education, Science, Research, and Innovation Policy Council will foster the development of technology, engineering, and cultural knowledge to solve federal issues and generate revenue from advances in research.

Meanwhile, the Higher Education, Science, Research and Innovation Ministry’s Geo-Informatics and Space Technology Development Agency ( Gistda ) launched the” Thailand Space Week 2024″ event, themed” Converging Technologies, Connecting People”, to create a platform for connecting cutting-edge technologies and tech-savvy people.

The event, the largest space-related event in Southeast Asia, will partner with more than 30 international and domestic organisations, including the Electricity Generating Authority of Thailand ( Egat ), Siemens, Thaicom, PTT, ISPACE, and the Cabinet Office of Japan, among others.

It will show how the most recent developments in place technology can be used in different sectors.

Supamas Isarabhakdi, Minister of Higher Education, Science, Research, and Innovation, emphasized the significance of the space industry in accelerating Thailand’s economic growth and strengthening the nation’s aggressive edge on the international market.

The event may have many activities, including talks by leading experts, storage technologies exhibitions and business matching sessions, where foreign space agencies, policymakers, experts and entrepreneurs from around the world will gather to investigate opportunities for collaboration, she said. The chancellor expressed confidence that Asean will become a hotspot for the development of storage technology.

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Cathay Cineplexes acquires WE Cinemas’ 321 Clementi outlet

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SINGAPORE: &nbsp, Cathay Cineplexes ‘ parent company mm2 announced on Friday ( Oct 18 ) its acquisition and takeover of operations at WE Cinemas ‘ 321 Clementi outlet.

It will take result from Nov 1, when the film will remain businesses as&nbsp, Cathay Cineplexes Clementi 321, mm2 and Eng Wah Global&nbsp, said in a joint declaration.

The package shows mm2’s” continued trust in the theater company and our steadfast belief that blockbusters may return to our screens quickly”, &nbsp, Melvin Ang, the media company’s executive chairman, said.

Deadpool &amp, Wolverine, the next biggest picture of the year, was a significant lack from Cathay Cineplexes ‘ stone of movie earlier in the year. This was a “business choice”, a Cathay Cineplexes director told CNA next.

Mr Ang said that&nbsp, 321 Clementi was” also located in the heart of Clementi, &nbsp, in a well-positioned land which serves a good spread of public and private accommodation estates, colleges and colleges, and is the nearest to town for all our other cinemas operating today”.

Mr Ang said that the&nbsp, film company has yet to recuperate entirely in the years since the COVID-19 crisis, citing factors like&nbsp, restricted power occupancies due to social distancing, &nbsp, strikes in Hollywood that resulted in a blockbuster shortage and the changing consumer habits of filmgoing audiences.

” The company treatment is taking longer than expected”.

Recently, the company has seen a rise at the box company as well as several renowned acquisitions, joint endeavors and large-scale film development plans in the US, China and Southeast Asia, &nbsp, mm2 noted.

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SDEC 2024 advances Malaysia’s AI and semiconductor ambitions with major announcements and collaborations

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  • Agreements were signed for skill development, study &amp, cooperative projects
  • GEM Education pledged US$ 23 mil to ASEM, boosting M’sia’s silicon ecosystem

ASEM signed MoUs and Letters of Intent with 19 universities for talent development, research exchanges, and joint projects, strengthening academia-industry ties.

On the second day of the Selangor Smart City &amp, Digital Economy Convention ( SDEC ) 2024, which is a part of the Selangor International Business Summit ( SIBS ), Malaysia’s ambition to become a regional leader in AI and semiconductor technologies gained traction. It was organized by Selangor Information Technology &amp, Digital Economy Corporation ( Sidec). Important presentations emphasized the country’s commitment to digital technology, including the marketing of AI Nusantara to the Advanced Semiconductor Academy of Malaysia ( ASEM), which represents a further development of efforts to develop world-class ability in both AI and silicon areas.

The Day 2 meeting of SDEC 2024 was officiated by Hajjah Hanifah Hajar Taib, assistant secretary of Economy. Also provide was Ng Sze Han, Selangor State Executive Councillor for Investment, Trade, and Mobility, who delivered opening comment highlighting Selangor’s authority in driving revolutionary companies such as AI and electronics. A number of important announcements and initiatives were featured at the meeting to strengthen Malaysia’s position in the global technical landscape.

The marketing of AI Nusantara to the Advanced Semiconductor Academy of Malaysia ( ASEM) was a crucial show of the day. This achievement marks a significant step forward for Malaysia’s efforts to develop a strong talent pool in both silicon and AI technology. ASEM may focus on developing world-class ability and providing industry-relevant training, preparing Malaysia for a modern future driven by electronics.

Meanwhile, GEM Education announced a pledge to support US$ 23 million ( RM100 million ) for ASEM, underscoring its commitment to Malaysia’s growing semiconductor ecosystem. Malaysia’s position in the global semiconductor market is anticipated to be strengthened by this purchase, as well as the growth of cutting-edge skill and research.

More solidifying Malaysia’s authority in semiconductor technology, ASEM signed Memorandums of Understanding and Letters of Intent with 19 partner institutions. These agreements focus on cooperation in skill development, research exchanges, and shared projects, fostering a stronger relationship between academia and industry.

The event even recognised the completion of 30 instructors who have completed the Train-the-Trainer program. This program, run in partnership with Sidec, The Hive Southeast Asia, and Taiwan AI Academy, has upskilled teachers in semiconductor training, equipping them with the instruments to cultivate the next generation of tech professionals.

Additionally, the day honored the accomplishments of 450 individuals who successfully completed ASEM’s specialized training. These graduates have completed courses in fields like LLM Application Design and Object Detection, and they now possess the skills necessary to succeed as future tech leaders in Malaysia’s rapidly evolving digital economy.

Meanwhile, a series of panel sessions took place throughout the day, exploring potential across various industries. Top AI innovators were gathered for the” Battle of the AI Minds” talent competition, which was moderated by Dr. Ling-Jyh Chen from Taiwan AI Academy and Kamesh Raghavendra from The Hive. Participants presented AI solutions to real-world challenges, underscoring Malaysia’s commitment to developing global AI talent.

In another discussion, the generative AI in the cloud panel featured experts from AWS, SNS Network, and Exabytes, who shared insights on the rapid deployment of AI technologies via cloud infrastructure. Moderated by Denning Tan of GenAI Fund, the panel highlighted AI’s role in accelerating innovation across healthcare, smart mobility, and other key sectors.

The SDEC 2024 Exhibition showcased a diverse range of AI-powered technologies from over 200 exhibitors worldwide. It served as a hub for industry leaders, startups, and investors to connect and explore new opportunities in AI, robotics, and digital transformation. Business professionals and tech enthusiasts were attracted to the exhibition, which made it a key component of the convention.

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CNA Explains: Why Singapore and Southeast Asia could see a wetter, rainier end to 2024

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What does it imply for the location and Singapore?

Dr Dhrubajyoti Samanta, a senior research fellow with the Earth Observatory of Singapore at&nbsp, Nanyang Technological University, pointed to the&nbsp, NOAA prediction a poor La Nina in Southeast Asia.

This leaves it “very likely” that it wo n’t be “very wet” or cause significant concern beyond a typical La Nina.

For conditions could even be useful for water refill- where water infiltrates deeper earth layers- and agriculture, while improving air quality, said Dr&nbsp, Samanta. &nbsp,

However, according to Prof. Roth, a La Nina over the upcoming month may coincide with the upcoming Northeast rain season, which is already the rainiest time of year. &nbsp,

Aside from cooler air conditions, there’s an increased likelihood of localised flood when above-average snowfall coincides with intervals of currently high water levels, such as during seasonal high waves, he said. &nbsp,

Dr. Wang speculated that some Southeast Asian nations might experience a higher risk of flooding in low-lying places with inadequate drainage and floods or landslide in mountainous regions.

This can also interfere with planting and harvesting routines, or worse, damage crops, lowering agricultural yields and causing financial loss, among other things.

For instance, Malaysia’s 2021 storms affected more than 10, 000 acres of land, causing grain supply to fall by more than 200, 000 kilograms, Dr Wang pointed out.

He added that recovering the infrastructure damage and wheat production, which are still not at their best levels, may take years.

Most countries on the Indochina island are now dealing with the effects of dangerous storms in recent months, as it stands. &nbsp,

Typhoon Yagi brought strong winds and heavy rainfall to Vietnam, Thailand, Laos and Myanmar in September, killing thousands and destructive factories and land. &nbsp,

And in recent months, the Philippines has experienced a number of fatal storms, including Typhoon Gaemi in July, Yagi in September, and Krathon in October.

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Heavy rain expected in North, Northeast

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PUBLISHED: 17 Oct 2024 at 14: 02

Workers clear mud from a lane in Muang district, Chiang Mai, on Thursday. Weathermen warn of rain in the northern and northeastern regions from Saturday to Monday. (Photo: Chiang Mai Municipality Office)
Employees distinct dirt from a street in Muang area, Chiang Mai, on Thursday. Additionally, from Saturday through Monday, Weather Weatheren warns of rainfall in the north and northeast regions. ( Photo: Chiang Mai Municipality Office )

The north and northern regions of the United States have been warned from Saturday through Monday by the Meteorological Department about thunderstorms and heavy rain.

Residents in the lower part of both regions were warned on Thursday that a high-pressure system from China would be impacted by stormy weather, including heavy rain and potential gusts, according to the weather agency. &nbsp,

People in eastern and southeastern regions along the Gulf of Thailand are advised to watch out for flash floods and storms during this time.

In Bangkok, another slippery trip is expected, with weather good in most regions.

According to the Bangkok Metropolitan Administration ( BMA ), many areas, including Chom Thong, Bang Khun Thian, and Bang Khae, received heavy rain on Wednesday.

According to climate experts, Southeast Asia was see higher-than-normal snowfall in the coming decades, threatening further problems to agriculture, hospitality and industrial production in a region already hit by a series of hurricanes this year.

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