A technology revolution is disrupting the financial services industry and could make digital currency and blockchain transactions commonplace in just a few years, financial technology and fintech experts argued in a session on the topic at the Annual Meeting of the New Champions 2016. Technologies from big data analytics to mobile apps are reshaping the sector, resulting in new ways for companies to interact with customers and for consumers to manage their money and conduct transactions.
The commodities boom has deflated, and Latin American economies must now develop ways to stimulate growth in a tepid environment. The challenges are many and tough, and a number of promising approaches are clearly in view, senior government officials and experts agreed on the final day of the World Economic Forum on Latin America.
In a session on the emergence of the digital economy in South-East Asia at the 25th World Economic Forum on ASEAN, global and regional IT leaders said that countries in the region could miss out on major opportunities. They urged governments to collaborate on harmonizing regulations and liberalizing the sector.
The Gwadar Port project has an exceptionally important function not only for Pakistan but also for the rest of the region. Notably, the Chinese government has paid the bulk of the funds for the project execution. The state owned Frontier Works Organization (FWO) of Pakistan got financial support of $360 million from China for the expansion and up gradation of the Karakoram Highway in order to smooth and speedy transportation of the imported and exported goods through the Gwadar Port.