THE FINLAB, a joint venture company between United Overseas Bank Ltd (“UOB”) and Infocomm Investments Pte Ltd (“IIPL”), invites Thai fintech start-ups to apply for its acceleration programme slated to start in May 2016 in Singapore.
What is THE FINLAB?
THE FINLAB accelerates the development of disruptive FinTech start-ups changing our world today. Through our deep expertise and broad experience in the financial industry and the venture capital ecosystem, we provide start-ups with valuable insights, analytics and a strong infrastructure to propel their businesses to the next level. A joint venture between Infocomm Investments Pte Ltd (IIPL) and United Overseas Bank Ltd (UOB), our wide connections in ASEAN, Greater China, Europe and the United States provide our start-ups an unparalleled access to the global market for growth and expansion.
Why should fintech start-ups apply to join The Finlab’s acceleration program, and what’s in it for them should they get selected?
It is a fact that early stage start-ups face a failure rate of higher than 90%. The causes are usually bad business models and/or lack of experience of the team in planning, execution, and tapping into the right networks for resources like funding.
These can be largely mitigated when start-ups join THE FINLAB’s acceleration programme; and for an intense 3-month period, they get to refine their business and revenue models by leveraging the knowledge, experience and networks of the mentors
Digital Revolution and Repression in Myanmar and Thailand
Activists have also proactively published social media content in multiple languages using the hashtags #WhatsHappeningInMyanmar and #WhatsHappeningInThailand to boost coverage of events on the ground.
How will oil prices shape the Covid-19 recovery in emerging markets?
– After falling significantly in 2020, oil prices have returned to pre-pandemic levels
– The rise has been driven by OPEC+ production cuts and an improving economic climate
– Higher prices are likely to support a rebound in oil-producing emerging markets
– Further virus outbreaks or increased production would pose challenges to price stability
A combination of continued production cuts and an increase in economic activity has prompted oil prices to return to pre-pandemic levels – a factor that will be crucial to the recovery of major oil-producing countries in the Middle East and Africa.
Brent crude prices rose above $60 a barrel in early February, the first time they had exceeded pre-Covid-19 values. They have since continued to rise, going above $66 a barrel on February 24.
The ongoing increase in oil prices, which have soared by 75% since November and around 26% since the beginning of the year, marks a dramatic change from last year.
Following the closure of many national borders and the implementation of travel-related restrictions to stop the spread of the virus, demand for oil slumped globally.
In the wake of the Saudi-Russia price war in early 2020, Brent crude prices fell from around $60 a barrel in February that year to two-decade lows of $20 a barrel in late April, as supply increased and demand plummeted. The value of WTI crude – the main benchmark for oil in the US – fell to record lows of around $40 a barrel last year on the back of a lack of storage space.
While global demand for oil remains low, one factor credited with reversing the trend is the decision to make significant cuts to oil production, which subsequently tightened global supplies.
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