Thailand’s virtual banking miscalculation

More: Oracle’s US$6.5 billion bet on Malaysia cloud infrastructure. [Read from your browser]( Daily Newsletter Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](.  --------------------------------------------------------------- IN FOCUS In today's newsletter, we spotlight: - The [unintended consequences]( of Thailand’s virtual banking push - How the conflict in the Middle East is shaking the stock markets - SEA’s ailing healthtech landscape - Other newsy highlights such as Oracle putting US$6.5 billion toward building Malaysia’s cloud infrastructure --------------------------------------------------------------- Hello {NAME} One of the more recent newsworthy developments in European football is the English Premier League’s profitability and sustainability rules (PSR), which punish teams that spend beyond their means with points deductions. In theory, this should level the playing field. In practice, however, only mid-sized and smaller teams have been punished so far while bigger teams appear to be getting away scot-free. Time will tell whether the PSR will have the desired effect, but this is just one example of how things that look good on paper might not play out as expected. Today’s premium article looks at Thailand’s virtual banking push. While the drive is supposedly meant to improve financial access for the underbanked and boost competition, it may instead reinforce the dominance of the country’s largest banks and conglomerates. -- Winston  ---------------------------------------------------------------  THE BIG STORY Thailand's virtual banking push, designed to boost competition, may actually strengthen the dominance of large banks and conglomerates. Analysts predict that the new virtual banks will remain small-scale and have limited macro impact. Dive into the full story [here](. --------------------------------------------------------------- TRENDING NEWS [Oracle invests $6.5b in Malaysia’s cloud infrastructure]( The investment is aimed at expanding its AI and cloud computing capabilities within the country. Oracle’s proposed cloud region will consist of several dedicated data centers, focusing on computing and storage services. [Iran missile attack on Israel jolts US investors]( Escalating tensions in the Middle East have shaken investor confidence. The US stock market experienced a sharp decline following Iran’s ballistic missile attack on Israel, which Iran asserted was retaliation for Israel’s military actions against Hezbollah in Lebanon. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [The players in SEA’s ailing healthtech landscape]( However, AI might be just what the doctor ordered. --------------------------------------------------------------- GET READY FOR THE FUTURE OF AI  Oliver Jay of OpenAI to headline SYNC 2024 SYNC 2024 is bringing you the leading minds shaping the future, and we're thrilled to welcome Oliver Jay, managing director of OpenAI, to our main stage. A true pioneer in the generative AI space, Oliver will share the AI research company’s groundbreaking vision for the years to come. He will delve into the transformative power of genAI, revealing how it's poised to revolutionize industries and innovate our world. 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