Silicon Valley, London and Beijing come to mind in response to the phrase tech hub, but around the world, promising and trailblazing tech hubs are springing up in a number of locales, especially in Asia and Africa. This article examines three emerging, highly competitive tech hotspots—Singapore, Bengaluru and Kenya—that are drawing start-ups and talent and giving the leading tech mega-centres a run for the money, including venture-capital investment.
The special administrative region of Hong Kong has long been a magnet for foreign direct investment. Recently, the cracks in its special “one country, two systems” relationship with China have widened. The grievances of pro-democracy Hong Kong residents have erupted into massive protests—threatening Hong Kong’s appeal to international investors. If not Hong Kong, where else can investors direct their wealth? Or should they wait the Hong Kong situation out?
Thanks in no small part to recent rate cuts by the US Federal Reserve System, Singaporean banks are now under increasing pressure. And the outlook for the Asian city-state’s banking sector suggests that things may get only worse this year, especially for the three biggest players:
The Southeast Asian island city-state of Singapore may be comparatively small in size but is mighty in influence, universally recognized as a global financial centre. Due to its esteemed status, it’s not surprising that its luxury real estate is popular among high-net-worth investors. Some of the most desirable properties in the Orchard Road area, at the heart of the city’s retail and accommodation activity, are showcased in our real-estate feature.
Singapore has much to celebrate. Along with Hong Kong, it is regarded as one of Southeast Asia’s top financial hubs. Although these rivals match each other on many fronts, their stock exchanges do not. Singapore’s SGX is shrinking, while Hong Kong’s stock exchange continues to grow. It’s easy to see that the SGX is ailing but much harder to figure out exactly why—and how to reverse the trend.
Malaysia is amongst Southeast Asia’s most prosperous nations, with consistently high economic growth. It is also amongst the region’s most progressive; one of its top five banks, Hong Leong Bank, is leading the widespread adoption of digital solutions in finance. We were pleased to be joined by two of HLB’s senior executives, Domenic Fuda and Charles Sik, to discuss HLB’s newest strategies toward being “digital at the core”.