The Afternoon Update with Lynlee Foo

Technology is driving the transition to a more sustainable future. Green tech innovations are at the forefront of the global sustainability push, offering practical solutions to some of the most pressing environmental challenges. Recently, UOB FinLab, the Bank’s innovation accelerator, awarded a total of more than $100,000 to selected Green Technology (GreenTech) firms to pilot 15 sustainability solutions with UOB and its corporate partners across ASEAN. The pilot solutions and partnerships were unveiled at the GreenTech Accelerator 2024 Showcase Day as part of Singapore FinTech Festival’s Insights Forum. We find out more about the trends and developments in the green technology space with Marianne Tan, Programme Director at UOB FinLab, and Emmanuel Tay, CEO and co-founder of Circular Unite, which is behind one of the 15 pilots selected for funding by UOB FinLab. They share their insights on the green technology ecosystem and the ways industry players are addressing pain points in sustainability.

The US dollar is soaring amid strong momentum to the upside following Donald Trump’s US election win.  What does this mean for the USD / JPY pair and the carry trade? How will a strong dollar and impending tariffs impact the Chinese markets? How does the USD pair with the Singapore dollar in the current market conditions? Yeap Junrong, Market Strategist at IG, weighs in with his views on the greenback. 

The global quantum computing market is estimated to be worth between US$45 billion and US$131 billion by 2040 (McKinsey). The single largest sector to be impacted is the financial services sector, with an estimated value at stake of US$450 billion. To this end, the business world is rapidly transforming with two revolutionary technologies leading the charge; quantum computing and AI. Each of these technologies represents immense potential to redefine the boundaries of what's possible. This powerful fusion of quantum computing and artificial intelligence is emerging, and it promises to reshape our world in ways we can hardly imagine.  Dipen Mehta, Head of Financial Services for SoftServe, a global IT consulting and digital services provider, sheds some light on the potential of quantum computing in financial services. 

Up to 20,000 additional certificates of entitlement (COE) will be injected across the five vehicle categories over the next few years from February 2025. The announcement, made by Land Transport Authority on Oct 29, has sparked much discussion among many. The LTA says the move reflects recent trends in vehicle usage, the upcoming and improved ERP 2.0 system and significant investments in Singapore’s public transport network. Could a boost in COE supply lead to a drop in COE premiums and ease car ownership costs? Lee Nian Tjoe, Senior Transport Correspondent, The Straits Times, weighs in on the impact of this latest development.

Singapore Airlines Group's net profit fell 48.5% YoY to $742m in H1 FY2024/2025 on weaker operating performance. Shares of the city's flag carrier dropped after it reported a slump in profits due to increased competition and higher fuel costs.   Isaac Lim, Chief Market Strategist at investment platform moomoo Singapore joins The Afternoon Update to unpack details of the earnings release and shares his take on the charts for SIA's stocks.

In recent years, the digital entertainment landscape has witnessed a fascinating evolution with the emergence of Virtual YouTubers, or VTubers. There is a rising trend of these content creators who use computer-generated avatars representing themselves in videos and live streams. The VTuber market, stands at around US$500 million ($658.7 million).  Today on Industry Insight, we find out more about this trend in the live-streaming industry from SGX-Listed live-streaming platform 17LIVE. The global company is the SGX’s first and only entity to have gone through a despac transaction reversed a US$118.2 million loss to profit.  CEO of 17LIVE, Jiang Honghui. shares more.  

With the rise of digital assets, it can be quite an uphill journey and steep learning curve for both traditional banks and clients in navigating this space. This is where Singapore-based digital payment solution provider MetaComp enters the picture.  Describing themselves as the Compass of the Meta-Crypto World, Eddie Hui, COO and Co-President of MetaComp and Tin Pei Ling, Co-President of MetaComp, shares with us more about their vision, which is to build the bridge between traditional and crypto finance.

While quantum computing is still in its developmental stages, it is gearing up to have a profound impact on the financial system. According to McKinsey, by 2035, quantum computing use cases in the finance industry could create $622billion in value. Here in Singapore, efforts are being made to tap into that potential. For example, just a few months ago, the Monetary Authority of Singapore announced plans to invest SGD$100 million to fund quantum computing and AI projects, as part of a scheme to support banks and other financial institutions as they innovate and develop capabilities in both quantum computing and artificial intelligence (AI) technologies. Dr Joe Fitzsimons, CEO of Horizon Quantum Computing shares his insight on the potential impact of quantum computing in the financial sector and how might quantum banking change the financial system.

As global financial institutions and consumers navigate economic and regulatory changes, more effective ways are sought to predict risk. With the boom in generative AI, how has technology changed the financial services industry when it comes to financial crime compliance? What are the new challenges for financial institutions in the fight against financial crime? Rohit Mittal, APAC Director of Financial Crime Compliance and Payments at global data and analytics company LexisNexis Risk Solutions, shares more.

In an era of rapid digital transformation, efficient and innovative payment solutions are crucial for business success.  On Industry Insight, we look at the latest in payment solutions, and explore the advancements in payment technologies. From real-time transactions to embedded finance, what are some of the common initiatives industry players are focusing on, to help businesses scale and unlock new revenue streams through smarter and more secure payment infrastructures?  Sarita Singh, Managing Director of Southeast Asia, India and Greater China with global financial infrastructure company Stripe shares her views.