Financial Sector in Singapore, UBI in India – China Outbound
Our weekly round up of other news affecting foreign investors throughout Asia.
Singapore has risen to become the economic hub of Southeast Asia, and is mentioned alongside other global financial centers such as New York, Hong Kong, and Tokyo.
Now, its financial sector is facing new challenges and rapid digital progress, with technologies such as blockchain and 5G, which will have an even greater impact on it in the foreseeable future.
This election year, politicians across India are discussing Universal Basic Income (UBI) as an alternative to traditional subsidies and social welfare programs.
UBI is a policy that provides a periodic payment for beneficiaries regardless of social standing or employment status. Its goal is to eradicate poverty, encourage consumer demand, and redress inequality.
The final procedures for the Eurasian Economic Union (EAEU) to ratify a free trade agreement with Serbia is due to be signed in October 2019, member of the Board of the Eurasian Economic Commission Veronika Nikishina said at the international conference “From Idea to Reality: 25th Anniversary of Nursultan Nazarbayev’s Eurasian Initiative” currently being held in Nur-Sultan (previously Astana).
Stories have been hitting the media in the United States and Asia concerning Boeing considering the development of a new Boeing 797 aircraft targeted at the “Belt & Road and China”.
Boeing’s Marketing Director, Randy Tinseth, has stated that Boeing sees potential for an aircraft that would make more routes viable between nations involved in the BRI.
District 2 in Ho Chi Minh City is one of the biggest urban development areas in Southeast Asia. The show case redevelopment project is the Thu Thiem New Urban Area, which is touted to become the new central business district of Ho Chi Minh City.
New cities are usually built far from the city centre. In the case of District 2 it’s opposite the historic old city, on the other side of the Saigon River.
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