DEALSTREETASIA: Russia’s economic slump is set to boost the fledgling financial services technology (Fintech) startup ecosystem in Singapore and South East Asia. Moscow-based venture capital firm Life.SREDA, that focuses exclusively on investments in Fintech mobile and internet projects, is pivoting to Asia, and moving its corporate headquarters to Singapore, executives aware of the developments told DEALSTREETASIA. (more…)
TECHINASIA: Last week, the Singapore government issued new laws that will allow drivers to receive payments for carpools. The statute was completed on Monday, March 2, and reported by the Straits Times on Friday. According to the statute, car owners can accept monetary compensation for driving passengers, provided the driver does not accept hails on the street or in a parking lot. In addition, payment cannot exceed the cost of taking the passenger to his or her destination, which must be agreed upon before the ride begins. Drivers are also prohibited from making more than two rides a day.