In Bangkok recently, I was greeted with the election of 72-year-old former general Prabowo Subianto as the incoming president of Indonesia. Outgoing president Joko Widodo’s son Gibran (37 years old) has been elected as vice-president. At the same time, former Thai prime minister Thaksin Shinawatr...

Condivergence: Ageing leaders and investment choices

The world is in a mess. Polycrises or multiple crises that break out with no simple solutions — such as the Gaza genocide, social discontent, climate and natural disasters, and growing war fears — are changing the existing order.

Condivergence: A Chinese (New Year) way of understanding polycrises

Welcome to 2024. This is the year that the Barcelona Centre for International Affairs (CIDOB) calls one “of ballots and bullets”. Across more than 70 countries, over four billion people will participate in elections, which will decide the direction of global politics. Meanwhile, war continues in ...

Condivergence: Investing in 2024

How should you allocate your portfolio assets for 2024, a year of grave uncertainty?

The good ol’ 60/40 rule of 60% equity and 40% bonds and cash portfolio allocation is alive and well in 2023, although returns have been driven solely by equities. Fixed income, traditionally 40% of such...

Condivergence: Bonds, cash or gold for 2024?

The trajectory of global finance in 2024 hinges upon one central actor — the US Federal Reserve. When will the Fed start easing?

Condivergence: The outlook for 2024

Like Warren Buffett said, “It’s only when the tide goes out that you learn who has been swimming naked.” Two notable tales of grief this month bookended a period of overexuberance. The first demise came with FTX founder Sam Bankman-Fried being found guilty of committing fraud almost one year afte...

Condivergence: Mild global recession or bad times ahead?

In 1993, when Bill Clinton became US president, he was warned by his treasury secretary Robert Rubin that free fiscal spending would be stopped by the US bond market. Clinton’s political adviser James Carville famously joked that he would like to be reincarnated as the bond market, because “you c...

Condivergence: What the bond market is signalling about the global outlook

In the 21st century, global wealth has experienced remarkable growth, fuelled by an extended period of historically low interest rates across major economies. From the period of 2008 to 2022, the world enjoyed continued growth in private wealth. According to the UBS Global Wealth Report 2023, onl...

Condivergence: Keeping an eye on the coming peak of global wealth inequity

Something is going on in the House of the Dollar, the mightiest currency in the world. You would have thought that with everyone fleeing to the US dollar, attracted by high interest rates, the Numero Uno would be laughing all the way to the bank, quietly taking the money in.

Instead, Am...

Condivergence: Has the US dollar peaked?

The boom led by artificial intelligence (AI) created a buzz in 2023 with the Magnificent Seven stocks (Apple, Amazon, Google, Meta Platforms, Microsoft, NVIDIA and Tesla) accounting for 80% of the growth in the S&P 500 year to date. Jointly, these stocks have a market valuation of over US$11 ...

Condivergence: Is the tech rally sustainable?

(May 19): Liverpool's outgoing manager Juergen Klopp has never been one for social media but he took the plunge on Saturday ahead of his final game in charge, instantly becoming an Instagram hit when he racked up a million followers.

Klopp announced in January that he would leave Liverp...

Klopp earns a million Instagram followers within hours

KHARKIV, Ukraine (May 19): Ukraine said Russian shelling targeted civilians in two cities in the northeastern region of Kharkiv on Saturday while President Volodymyr Zelenskiy reported successes by troops fighting a renewed Russian assault there.

Ukrainian prosecutors said they were inv...

Ukraine says Russian shelling targets civilians in Kharkiv region

(May 19): After guiding Chelsea to the Women's Super League title for the seventh time, Emma Hayes is a woman with just one job.

Hayes can fully concentrate on being coach of the United States Women's National Team after Chelsea's 6-0 win over Manchester United on Saturday. It marked the fifth st...

After one last Chelsea title, Emma Hayes now focused on USWNT

Police have identified the male suspect who attacked the Ulu Tiram police station on Friday and confirmed that he has no links to any terrorist groups.

Inspector-General of Police Tan Sri Razarudin Husain clarified that the initial statement of the suspect being a member of Jemaah Islamiyah (JI) was based on his father's involvement with the terrorist group.

IGP: Suspect in Ulu Tiram police station attack not linked to terrorist group

From New York to London to Tokyo, if there’s one similarity among the world’s equity markets it’s this: record highs.

Of the world’s 20 largest stock markets, 14 have hit all-time highs recently.

From Tokyo to New York, stock markets are on a record-hitting spree around the world

All the suspects remanded on Saturday following the attack at the Ulu Tiram police station early on Friday morning are local citizens, said Inspector-General of Police Tan Sri Razarudin Husain.

Ulu Tiram attack: Seven suspects remanded are locals, says IGP

The Communist Party of Vietnam has nominated police minister To Lam to be state president, the government said on Saturday.

Vietnam nominates top police official To Lam as state president

Maybank and English Premier League club Manchester United have launched their latest co-branded credit card in Indonesia.

In 2023, Maybank and Manchester United announced the extension of their 13-year partnership into Indonesia — adding a fourth Asean country to their existing co-branded products available to customers in Malaysia, Singapore, and the Philippines.

Maybank, Manchester United launch new co-branded credit card in Indonesia

China's agriculture minister is being investigated for suspected violations of law and discipline, the country's anti-graft watchdog said on Saturday.

China probes agriculture minister for suspected disciplinary violations

Sarawak is optimistic that its state revenue will continue to grow over the next two to three years, driven by the state's strong economic performance this year, said Premier Tan Sri Abang Johari Tun Openg.

Abang Johari optimistic Sarawak's revenue will grow in next two to three years

From New York to London to Tokyo, if there’s one similarity among the world’s equity markets it’s this: record highs.

Of the world’s 20 largest stock markets, 14 have hit all-time highs recently.

Police have identified the male suspect who attacked the Ulu Tiram police station on Friday and confirmed that he has no links to any terrorist groups.

Inspector-General of Police Tan Sri Razarudin Husain clarified that the initial statement of the suspect being a member of Jemaah Islamiyah (JI) was based on his father's involvement with the terrorist group.

All the suspects remanded on Saturday following the attack at the Ulu Tiram police station early on Friday morning are local citizens, said Inspector-General of Police Tan Sri Razarudin Husain.

(May 19): Liverpool's outgoing manager Juergen Klopp has never been one for social media but he took the plunge on Saturday ahead of his final game in charge, instantly becoming an Instagram hit when he racked up a million followers.

Klopp announced in January that he would leave Liverp...

KHARKIV, Ukraine (May 19): Ukraine said Russian shelling targeted civilians in two cities in the northeastern region of Kharkiv on Saturday while President Volodymyr Zelenskiy reported successes by troops fighting a renewed Russian assault there.

Ukrainian prosecutors said they were inv...

(May 19): After guiding Chelsea to the Women's Super League title for the seventh time, Emma Hayes is a woman with just one job.

Hayes can fully concentrate on being coach of the United States Women's National Team after Chelsea's 6-0 win over Manchester United on Saturday. It marked the fifth st...

Andrew Sheng and Tan Yi Kai

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Andrew Sheng and Tan Yi Kai

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