Gamer.LK dominates video games marketing category with Gold Award at SLIM Digis 2.5

Gamer.LK, Sri Lanka’s premier Video Games and Esports company, was recognised once again at the SLIM Digis 2.5 Awards, winning the Gold Award in the Gaming, Gamification and Esports category at the 2025 edition.

The Gold Award was presented for the campaign ‘NDB Avurudu Dupatha’, produced by Gamer.LK for National Development Bank PLC (NDB). Presented under the Gaming, Gamification and Esports category, which honours campaigns that leverage gamified experiences and the wider gaming ecosystem, the accolade highlights how Gamer.LK successfully engaged a hard-to-reach digital audience through interactive gaming content. Joining the campaign, Manitha ‘Maniya’ Abeysiriwardena, Sadun ‘Gaming Sadu’ Dilakshan and 16 other streamers from Gamer.LK’s streamer network live-streamed the story-based campaign to their audiences. By tapping into authentic gaming culture and delivering measurable engagement for the brand, the ‘NDB Avurudu Dupatha’ set a benchmark for how video games and gamification can be effectively integrated into mainstream marketing.

Gamer.LK also conceptualised and executed the campaign ‘Clean Up Mr. Claws’ for CLEAR by Unilever Sri Lanka., which received a Merit Award at this year’s SLIM DIGIS. The campaign transformed the usual 30-second cinema advertisement sit-through into a gamified experience, allowing audiences to interact with the content rather than passively watch. By merging entertainment with brand messaging, the activation created a unique connection with movie-goers, leaving a lasting impression while delivering tangible engagement results.

The SLIM DIGIS Awards are organised annually by the Sri Lanka Institute of Marketing (SLIM) and celebrate excellence in digital marketing by recognising the most innovative and effective campaigns across industries.

Gamer.LK Founder and InGame Esports CEO Raveen Wijayatilake said: ‘These awards once again demonstrate the strength of Gaming and Esports as a credible and effective marketing channel in Sri Lanka. Over the past decade, Gamer.LK has grown into an international Esports and video gaming agency, executing campaigns across multiple regions of the world. While our global footprint continues to expand, it is especially rewarding to partner with leading Sri Lankan brands and be recognised for the work in our home market.’

With these wins, Gamer.LK said it continues to reinforce its position as a pioneer in Gaming, Gamification and Esports-driven marketing. Over the years, the agency has been recognised at the SLIM DIGIS with multiple Awards, including the coveted Grand Prix Gold Award, further underscoring its track record of delivering impactful, innovative campaigns that connect brands with audiences in meaningful ways.

Parent disposes LCB Finance stake for Rs. 877.5 m

Lanka Credit and Business Ltd., has sold a 17.08% stake in Lanka Credit and Business Finance PLC (LCB Finance PLC) for Rs. 877.5 million.

Lanka Credit and Business Ltd., is the holding company of LCB Finance PLC.

The company said it sold 135 million shares in the market at Rs. 6.50 each on Friday (3 Oct.) LCB Finance shares closed at Rs. 7.90 yesterday. It reported a net asset per share of Rs. 4.05 as at end-June 2025.

Cyprus Department of Meteorology – Forecast for the Sea Area of Cyprus (A)

CYPRUS DEPARTMENT OF METEOROLOGY

FORECAST FOR THE SEA AREA OF CYPRUS (A)

FOR THE PERIOD FROM 0600 07/10/2025 UNTIL 0600 08/10/2025

Area covered is 8 kilometers seawards.

Winds are in BEAUFORT scale. Times are local times.

Atmospheric pressure at the time of issue: 1012hPa (hectopascal)

Weak low pressure is affecting the area. The weather will be partly cloudy and at times mainly cloudy with risk of light isolated showers, mainly over the western and northern coastal areas. Tonight the weather will be mainly cloudy with local showers and isolated thunderstorms.

Visibility: Good, but moderate to poor in showers

Sea surface temperature: 26°C

Warnings: NIL

Small steps, big gains

SMALL steps are often underestimated. Especially in the dog eat dog world of entertainment and the performing arts.

Many dream of becoming celebrities, and most of these dreamers will choose the one-time-big-time route not realizing that more often than not, true success comes when they take it one step at a time.

That is why we are so happy when we get to meet young artists who are not rushing to become big stars, who know that strategy is oftentimes a wonderful weapon to have, and who believe that timing is of great importance.

Take the case of new actor Miguel Odron, who continues to captivate the independent film audience worldwide with his effortlessly brilliant performance in Petersen Vargas’s Some Nights We Feel Like Walking, a wonderful film we were able to see when it was shown in local cinemas a few weeks ago.

The good news is: Odron recently scored a feature performance award nomination from the highly touted Iris Prize, an international LGBTQ+ festival and event open to films by, for, about, or of interest to these specific communities. The winners will be announced on October 19, in Cardiff, Wales.

The movie is Odron’s first acting assignment, and he admitted to being surprised by this nomination. ‘I’m truly out of words with this unexpected recognition. You can call me an accidental actor who tremendously enjoyed my experience working on my very first film. All I just want now is to make more films, and this nomination is more than a stamp of approval that I’m in the right career direction. I’m just happy that the film is getting a lot of good feedback from audiences around the world.’

Odron has proven once more that every step forward-no matter how small-is still movement in the right direction. And taking these small steps is the only way we can get to the top of a flight of stairs, to reach for our dreams, and to work on what we truly desire. I also got to meet two promising Sparkle artists recently: Kim Perez and John Rex.

Perez just released his song ‘Huling Hinto,’ a rock ballad that is hauntingly sad, while Rex, the grand winner of The Clash 2023 edition, lends his soulful vocals to the song ‘Kahit Wala Na Tayo.’ Rex’s powerful ballad has been chosen as the theme song for the drama series Cruz versus Cruz.

‘I’m waiting for my big break as a singer. My big win at The Clash was actually a jump-off point, but where I land will be my destiny. That’s why I work very hard and seize every good opportunity that comes my way. They say that all it takes is one song for a singer to soar to greater heights, and I’m taking all these small steps knowing that I will soar when my wings are ready,’ Rex shared.

Indeed, what starts as one small step often leads to another. When we focus on what we can do, we start to build momentum. A single effort can set off a chain reaction that, more often than not, leads to greater opportunities and more significant wins.

Aside from being a singer, Perez is also trying his luck as an actor. He is currently cast in the GMA TV series Sanggang Dikit. ‘I’m easy, you know. I don’t mind being described as an actor who can sing or a singer who can act. I’d love to explore all the possibilities that will be made available for me at this time in my young career. I enjoy doing both actually. In singing, I’m usually all by myself as a performer, but in acting I have to be a team player.’

A few days ago, I was happy to find out that Noel Comia has been cast in the upcoming musical Bagets, a production of Viva Live Events. He will give life and music to the same role that Herbert Bautista portrayed in the 1984 movie version.

I was first drawn to Comia in 2017 in the Cinemalaya movie Kiko Boksingero where I raved about his performance. There was no surprise when the then 12-year-old newbie actor romped away with the festival best actor prize for his endearing yet powerful performance.

The doors opened one by one for this promising actor who is slowly building quite an impressive filmography with such movies, like Song fo the Fireflies, Death of Nintendo, Gitarista, Tenement 66, Rainbow Sunset and Children of the River. He has also lent his talent to several theater productions and have won acting awards for these.

Not many remember Comia being part of the third season of The Voice Kids, making it to Lea Salonga’s Top 8 hopefuls. That is why I am excited to see how he will transform as an actor-singer when Bagets the musical comes to life onstage early next year at The Newport Performing Arts Theater.

Comia’s is a classic case of progress not being about perfection. It’s about focusing on what you can do with what you’ve got in reaching for your goals, no matter how small that action might seem. In the world of entertainment, it’s always tempting for newcomers to believe that only big, dramatic efforts bring results, but more often than not it’s the small consistent actions that actually shape our lives and determine the future. Like that of Comia’s.

When we focus on what we can do, however small that may seem to others, something shifts within us. The weight of difficulty, fear, doubt and frustration lightens, the mind becomes clear, and amazing ideas emerge. What was once a narrow mindset starts to expand, and creative juices start to flow naturally.

Success breeds success. Just like compound interest, small steps add up to impressive rewards. And these small steps help talented hopefuls like Miguel Odron, Kim Perez, John Rex, and Noel Comia create valuable habits that will help them achieve bigger gains in the future.

DME incentive under CREATE

Becoming an investment hotspot has been the goal of the Philippines for some time. Challenging the dominance of well-known investment destinations and providing an attractive investment climate required tweaks and changes to our tax and incentive laws, among others. One of the early attempts to improve the investment stature of the Philippines was the enactment of the ‘Corporate Recovery and Tax Incentives for Enterprises’ or more popularly known as the CREATE Act.

However, while CREATE aspired to propel the Philippines forward, to say that it has been mired in hampering issues is a bit of an understatement. CREATE’s lofty goals have been weakened by questionable execution of some of its provisions – the text of the law versus the promulgated rules and regulations; the legislative intent versus the administrative implementation.

Such incongruity has once again been highlighted in a recent decision of the Supreme Court involving the question of validity of certain provisions of CREATE’s implementing rules and regulations (IRR) as well as its related revenue regulations (RR).

Under CREATE, registered business entities (RBE) are entitled to VAT zero-rating on their local purchases of goods and services directly and exclusively used in the registered project or activity. However, the subsequently issued IRR and RRs changed the VAT zero-rating eligibility and made it applicable only to registered export enterprises (REE). It effectively deprived Domestic Market Enterprises (DME) of the same tax incentive despite them being RBEs.

Consequently, local suppliers charged VAT on the purchases of goods and services by DMEs. In turn, the DMEs under the 5 percent Special Corporate Income Tax will recognize the passed-on VAT as part of their costs or expenses.

The petitioner-DMEs in the case believed that the IRR and RRs unduly limited the application of the VAT zero-rating for local purchases since the law made no distinction between REEs and DMEs. In other words, they assert that all RBEs should enjoy the VAT zero-rating for local purchases.

After much deliberation, the Supreme Court held that the IRR and RRs are unconstitutional. Essentially, the IRR and RRs unlawfully altered the provisions of CREATE by carving-out DMEs from those entitled to the VAT zero-rating incentive. Considering that the grant and withdrawal of tax exemption is exclusive within the domain of legislation, the VAT zero-rating incentive cannot be removed or withheld from DMEs by an administrative issuance (such as an IRR or RR).

The case is a resounding acknowledgment of the implementation issues under CREATE that are experienced by taxpayers. However, while the Supreme Court sided with the taxpayer, what can the latter actually do with it? Is the decision anything more than a paper win?

Now that the Supreme Court upheld the entitlement of the VAT zero-rating incentive of DMEs under CREATE, can the latter file a claim for refund with the BIR on the VAT passed on by their local suppliers? Unfortunately, there are significant hurdles that DMEs must overcome:

Although any possible refund involves input VAT, it does not automatically mean that the claim for refund would be based on unutilized creditable input VAT under Section 112 of the Tax Code. Since the sales of DMEs are generally not zero-rated nor effectively zero-rated, it cannot claim refund under Section 112 of the Tax Code. As such, any refund would be based on Section 229 of the Tax Code which would require proof that the passed-on VAT on the local purchases is erroneous or illegally collected.

Even if the DME was able to prove that the passed-on VAT was erroneously or illegally collected, the administrative claim for refund must be filed within the 2-year prescriptive period regardless of the existence of any supervening cause after payment. Since CREATE took effect in April 2021, some claims may already be time-barred.

Further, it should be noted that CREATE has been amended by CREATE MORE. Among the CREATE MORE amendments is the express removal of the VAT zero-rating incentive on local purchases for DMEs. In effect, the doctrine laid down by the Supreme Court would not apply for local purchases by DMEs covered by CREATE MORE.

While the Supreme Court validated the position of DMEs, its redeeming effect is limited by practical circumstances and the effect of the improper implementation is not wholly recoverable. As between proper implementation and court vindication, laws would have a better chance of achieving its goal if we strive to effect the former rather than the latter.

The author is a partner of Du-Baladad and Associates Law Offices (BDB Law) (www.bdblaw.com.ph).

The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal, or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported, therefore, by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at jomel.manaig@bdblaw.com.ph or call 8403-2001 local 140.

Abuja poor internet spotlights digital divide

Residents of Abuja and northern Nigeria are grappling with persistent poor internet services, marked by slow speeds, frequent outages, and unreliable connectivity.

Amid Nigeria’s ambition to achieve a 70 percent broadband penetration rate by the end of 2025, the current rate stagnates at approximately 48.81 percent as of August 2025, hurting cities like Abuja.

The northern region, where poverty rates exceed 60 percent, faces heightened digital exclusion, with millions unable to access essential online services.

Experts warn that without urgent infrastructure upgrades, the region risks further marginalisation in Nigeria’s digital economy. The challenges stem from undersea cable damages, vandalism and insufficient fiber optic infrastructure.

A September 2025 report by the GSMA, the global industry body for telcos,

found that around 130 million people in Nigeria remain offline, despite living in areas with mobile broadband coverage, a gap widened by the slow rollout of the National Broadband Plan (2020-2025).

In Abuja, the nation’s capital, mobile network crises have become commonplace, with dropped calls and failed data connections disrupting daily life.

Complaints have flooded social media platform X, where Nigerians detail their ordeals. In Abuja’s Kado area, user @RightSideWitGod lamented, ‘Very poor internet service in Abuja, Kado, particularly. The decline has worsened over time.’

Similarly, @amare_of expressed extreme frustration with network service in Naf Valley Estate and Asokoro: ‘The connection has been consistently unreliable and slow. This experience is unacceptable.’

Another post from @Aiwanscales added, ‘The whole of Asokoro extension in Abuja is having issues with a service providers’ network and you guys cannot sort it out.’

Further north and in Abuja suburbs, users report data draining rapidly despite high costs. @Badmosgraphics in Ushafa, Abuja, complained: ‘It is now a constant thing for both call and data network to disappear for hours everyday without any reasonable explanation.’

Hostile actions

Gbenga Adebayo, chairman of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), has repeatedly highlighted the threats to service quality.

Adebayo noted; ‘Ongoing investments in network optimisation, fibre expansion, and site upgrades are transforming the sector, but hostile actions by some states, including excessive right-of-way fees and vandalism, risk digital exclusion, particularly in underserved northern regions where infrastructure deployment is already challenged.’

He urged state governments to foster a supportive environment, warning that vandalism alone led to multiple incidents from May to July 2025, potentially disrupting services nationwide.

Adebayo also pointed to diesel blockades by oil workers threatening over 16,000 telecom sites, including in northern states like Kaduna, emphasising the need for protective measures to sustain connectivity.

Aminu Maida, executive vice chairman of the Nigerian Communications Commission (NCC), addressed the investment angle, stating that the telecom sector has attracted over $1 billion in new investments in 2025, spurred by policy shifts, including tariff adjustments.

These funds from Mobile Network Operators (MNOs) will be channeled toward infrastructure upgrades, prioritising underserved areas starting with the northern part of Nigeria to bridge the digital divide.

This includes fiber deployment, site enhancements, and region-specific rapid response teams for protection, ensuring resilient networks for economic recovery.

‘The $1bn investment will start from the North, with expansion of fibre backbones beginning in the North Central region,’ Maida stated.

He stressed collaboration with governors to reduce right-of-way fees, aiming for an additional 90,000km of fiber by Q4 2025, with a focus on northern states to meet national broadband goals.

Inside Nigeria’s N14trn skincare market

Wuraola Ibitoye browses Instagram for imported serums, while Vivian Adeolu opts for Nigerian-made face washes and moisturizers – a contrast that captures the two sides of Nigeria’s beauty industry.

Nigeria’s skincare market is huge, estimated at N14 trillion, according to BusinessDay’s recent research report entitled, ‘Insight Survey Report: Consumer Trends in Nigeria’s Skincare and Beauty Industry.’

The report shows that imports still lead, but local brands are gaining ground in skincare, fragrances, makeup, and natural oils, offering affordability and a sense of cultural pride.

From Lagos to Ibadan, store shelves reflect this diversity, as consumers strike a balance between global prestige and home-grown credibility. Young Nigerians, in particular, are propelling the industry, investing in skincare, hair care, cosmetics, and fragrances. For some, beauty shopping signals status and experimentation. For others, it represents identity and accessibility. Together, these choices are reshaping what aspiration looks like in a fast-changing market.

Size of Nigeria’s beauty market

Nigeria’s beauty and personal care sector has quickly emerged as one of Africa’s fastest-growing markets. According to Statista, this sector – cosmetics, skincare, haircare, and fragrances – earned an estimated $8.36 billion (N7.3 trillion) in 2023. Out of this, cosmetics alone accounted for $1.64 billion, highlighting the strong demand for beauty products among Nigeria’s increasingly style-conscious urban population.

Between 2018 and 2023, the industry’s value nearly doubled, with a compound annual growth rate (CAGR) of seven percent – eight percent, despite economic disruptions during the pandemic in 2020 and ongoing inflationary pressures. The purchasing power of young city dwellers, the influence of social media celebrities, cultural trends that promote self-expression, and the rapid growth of e-commerce platforms have all contributed to accelerating expansion and transforming consumer behaviour.

Market projection

Looking ahead, the market is projected to grow at a significantly faster CAGR of 14.97 percent from 2024 to 2028, potentially reaching a total revenue of over $14 billion by 2030. This remarkable growth trend positions Nigeria not only as Africa’s largest consumer market but also as an emerging beauty hub on the continent, blending global ambitions with local innovation, creativity, and entrepreneurial spirit.

Who is buying?

Nigeria’s beauty and skincare market is primarily led by young adults, with those aged 25-34 making up nearly 60 percent of buyers. This group, who are tech-savvy and career-focused, influences product choices, purchase methods, and brand expectations. Women remain the primary consumers at 78 percent, but men are increasingly entering the market, particularly in grooming, skincare, and fragrances, a sign of shifting cultural views on male beauty, according to the BusinessDay survey.

Spending patterns reveal strong middle-class participation. More than half of respondents spend N10,000-N50,000 monthly, showing a demand for ‘affordable luxury.’ This balance of aspiration and cost-sensitivity highlights a clear sweet spot for brands. Most consumers are hybrid buyers, with 65 percent mixing local and imported products. While international brands still hold trust, Nigerian labels are being adopted where quality and credibility are proven.

The survey findings confirm that skincare component is the leading product category, with 69 percent of respondents prioritising creams, serums, and treatments. Fragrances rank next, reflecting Nigeria’s cultural emphasis on scent and presentation, while haircare and men’s grooming lag behind but remain significant.

Social media is the key driver of product discovery. Seventy-two percent of respondents learn about products via Instagram, YouTube, or TikTok. As one respondent explained: ‘I follow reviews online, and if a product trends, I’m more likely to try it.’ For younger buyers, validation from digital communities outweighs traditional advertising.

Male grooming continues to evolve. Beard care, in particular, has become a visible marker of identity. Most men groom weekly, often guided by barbers as trusted advisors. While grooming is acknowledged as ‘important’ or ‘very important,’ product usage is modest. The majority spend N5,000-N10,000 monthly, with only a small premium group exceeding N20,000. One respondent shared: ‘I spend about ?20,000 a month on beard oils and conditioners because grooming is part of my identity. For me, it’s not just about looking neat, it’s part of my daily style and look.’ The preference for natural and organic ingredients shows wellness-driven consumption is influencing men as much as women.

Dark side of beauty

Despite enthusiasm, challenges persist. Counterfeits were flagged by 67 percent of respondents as the biggest concern. Beyond undermining trust, fake products expose users to health risks and discourage them from trying new brands. One consumer explained: ‘Sometimes, when in the open market, you can’t tell if what you’re buying is original or fake, and that makes me hesitant to spend too much.’

Affordability is another major barrier. Nearly half of respondents cited rising prices, driven by foreign exchange (FX) volatility that inflates the cost of imported products. As one noted: ‘Prices keep going up, and creams I used to buy are now almost double.’ Loyalty remains fragile. A striking 89 percent of consumers say they will immediately switch brands if dissatisfied. In such a competitive landscape, consistency, authenticity, and safety matter as much as visibility and marketing.

Nigeria’s skin care, beauty stores

For many retailers in Lagos and Ibadan, the beauty business is more than commerce; it’s a calling shaped by passion and persistence. ‘I started little, telling people what to use to look good and selling to them. Many years later, it has become a family business,’ said the owner of a 41-year-old skin care business in Ibadan. Another explained, ‘It’s what my mother did, so I grew up in it. My vision is to make my skin care business a household name across Nigeria.’

Demand is also shifting, shaping how these entrepreneurs operate. In both cities, skincare is overtaking makeup as the primary driver of growth, with an increasing number of customers, including men, purchasing creams, serums, and grooming products. ‘Skincare is now a daily use, while makeup is occasional. That’s where we see sales moving,’ a Lagos store owner observed. Yet brand preference remains a hurdle. ‘Customers want foreign products because of trust, even when Nigerian brands are improving,’ an Ibadan retailer explained.

It is this same demand for trusted, science-backed skincare that has created space for medical aesthetics clinics.

According to Omolade Olatawura, chief operating officer of Laserdem Clinics, a leading skincare and aesthetics company with branches in Nigeria and Ghana, the clinic’s nearly 15-year journey was built on filling that very gap. ‘For years, Nigerians travelled overseas for safe, advanced skincare, exposing a clear need in the local market. Our response was to build a team of globally trained doctors, nurses, and aestheticians, and to use clinically tested products that meet international standards,’ she explained. Today, skin clinics like Laserdem reflect the same forces driving retail growth: a youthful, image-conscious population, lifestyle shifts, and rising incomes that drive greater investment in skin health and beauty.

Outlook: Industry at a crossroads

Nigeria’s beauty and skincare industry is growing rapidly, driven by young, digital-first consumers who view grooming as a means of expressing their identity. Yet, counterfeits, affordability pressures, and trust gaps pose a threat to stability. Opportunities lie in building trust through QR codes and education, targeting the ‘affordable luxury’ band, and scaling organic brands with indigenous ingredients. Digital discovery and influencer marketing are essential, while male grooming remains under-tapped. Local brands like Zaron, ORÍKÌ, Arami Essentials, and Dang must compete on both quality and visibility. As one respondent put it: ‘We all want to look good, but it has to be safe and worth the money.”

Viriyah makes AI a priority within its long-term strategy

Viriyah Insurance, Thailand’s largest non-life insurer, is charting a course into the digital era by placing artificial intelligence (AI) at the centre of its long-term strategy in order to retain its leading market position.

The company expects to record 42.6 billion baht in direct premiums this year, growth of 3.7% year-on-year. As of August, the company earned 28.1 billion baht in premiums, up 5.53% year-on-year.

With a market share of 14.5%, Viriyah has maintained its leading position in the non-life insurance segment, said managing director Amorn Thongthew.

Thailand’s non-life insurance industry continues to show resilience amid an economic slowdown, volatile politics and rising natural disaster risk, he said. In the first half of 2025, the sector recorded direct premiums of 146 billion baht, up 3.4% year-on-year, supported mainly by growth in accident, health and fire insurance.

“Viriyah has consistently outpaced the industry thanks to customer trust in our comprehensive services,” said Mr Amorn.

During the first eight months of 2025, motor insurance contributed 24.7 billion baht in premiums, up 4.5% year-on-year, for a 23.3% market share, while non-motor insurance surged 13% to 3.4 billion, accounting for a 3.74% share.

For the remainder of the year, the industry could face slower growth without government stimulus, he said. However, Mr Amorn said Viriyah remains confident of achieving its 2025 target of 42.6 billion baht in premiums, comprising 37.6 billion from motor insurance, up 3.3% year-on-year, with non-motor insurance soaring 11% to 4.98 billion.

“Our focus this year is to build a stronger balance between motor and non-motor products,” he said. “We remain committed to delivering ‘more than protection, true value’ for customers through every service touchpoint.”

THREE STRATEGIC PILLARS

Viriyah’s growth strategy is anchored on three core goals. The first is elevating service quality across omnichannel touchpoints to ensure seamless, convenient experiences for both online and offline operations.

Second, the company is expanding business ecosystem by increasing partnerships in electric vehicle (EV) claim services nationwide, specialised repair networks, and exclusive privilege programmes from 65 to 80 partner brands. The final focus is on human capital with efforts such as building leadership pipelines and equipping its 7,000 employees with skills in AI, EV-related technologies, and digital services under a lifelong learning framework.

Viriyah is accelerating its digital transformation through insurtech initiatives by leveraging over 78 years of experience and a database of more than 8 million policies to enhance product design, claims management, and risk mapping, he noted.

The company is also launching behaviour-based products, including PayLite, a usage-based motor policy for light drivers, and 2+ Good Drive, which refunds 30% of premiums to safe drivers who don’t make any claims.

To build its AI-driven future, Viriyah has engaged global consultancy Roland Berger to design its information and data architecture as part of a long-term digital roadmap.

In 2026, Viriyah targets growth in line with the overall industry, similar to this year’s growth andthe company has vowed to further speed up health insurance claims processing, expand EV repair networks nationwide, and roll out new products to address emerging risks, such as cyber insurance and property coverage for solar panel usage.

“Viriyah Insurance is about more than just car insurance. Our mission is to provide comprehensive protection for every aspect of our customers’ lives, combining human service excellence with AI-powered innovation,” said Mr Amorn.

In the medium to long term, the company sees AI as the most transformative force shaping the Thai insurance industry, one that will redefine customer, partner, and insurer experiences across the board while keeping people at the heart of service delivery.

Economy will pop with AI bubble

The old truism that the stock market is not the economy risks underplaying how much today’s powerful investment trends could impact the prosperity and lives of the whole country.

Artificial intelligence (AI) is obviously the megatrend of the moment. Scale is everything, and the US tech giants are driving the spending, while investors are scrambling to get on board an already overcrowded train.

The so-called Magnificent Seven — US tech companies that now make up a record 36% of the S and P 500’s market value — have seen their stock prices more than double over the past two years, after rebounding a whopping 60% from the troughs of this year.

Whether this is a bubble is perhaps the biggest question facing the stock market and the US economy at large.

While the extraordinary capital expenditure on AI over the past year may only represent about 1% of US GDP, its impact on growth has been massive.

Some reckon as much as one-third of the economy’s near 4% annualised expansion over the past two quarters may be accounted for by this digital gold rush. Tariff-related trade distortions have played havoc with GDP calculations this year, but last week’s revisions showed that business spending on intellectual property products grew 15% compared with a 12.8% previous estimate, while firms’ investment in equipment grew at an 8.5% clip instead of the previously reported 7.4%.

That growth may have slowed a bit this quarter, but not much.

What’s more, spending on data centres and infrastructure investment — up fourfold since 2020 — is fuelling construction and wider industrial sector activity to boot.

Growth in consumption, the lion’s share of GDP, is the other main driver of the economy — but that’s also heavily linked to the wealth effects from outsize gains in stock market indexes — clearly amplified by megacaps and two years of AI excitement.

The fundamental organic business growth of the rest of the S and P 500 has essentially just chugged along for the past five years and underperformed other blue-chip companies around the world in the process, as the investment manager GMO recently pointed out.

In short, AI better work — or else.

THE MUSIC’S STILL PLAYING

The AI arms race is unlikely to grind to a halt any time soon.

Echoing former Citi boss Chuck Prince, who famously said, on the eve of the global banking crash in 2007, you have to keep on dancing as long as the music is still playing, Meta boss Mark Zuckerberg was quoted last month as saying he would prefer to end up “misspending a couple of hundred billion dollars” than being late to the AI expansion.

Many questions about AI remain unanswered.

Although some studies have questioned the extent to which end usage of generative AI has really done anything for business returns so far, that says little about the technology’s potential to reshape hiring and job roles going forward. And scaling up computing and cloud capabilities will also position many big firms for much wider and potentially more profound changes to come — not least in quantum computing.

If you believe this is the future, with all the seismic impact on labour demand and productivity that adherents forecast, then it’s hard to see disappointment or reversal being a narrow investment event.

If AI is a bubble and it bursts, it will likely reverberate through the real economy — both independently of and through the equity market.

One retort is to look back at the dotcom bubble that burst in 2000. That tech stock mania reversed without the entire economy collapsing — and some of the companies that survived eventually became today’s behemoths.

Interest rate cuts and a housing rebound partly saved the day back then. And it’s conceivable that we could see a repeat this time around in the event of a sudden AI market implosion.

But sceptics certainly see the froth as well as the future in recent events.

Carlyle chief investment strategist Jason Thomas homed in on the eye-popping 36% one-day Oracle stock price surge on Sept 10 as a classic example of a crowded market desperate for any AI opportunity, regardless of the underlying numbers.

Mr Thomas described the Oracle move, which was prompted by news of AI-related cloud contracts with OpenAI and others, as “the rarest of rare events”, with a single-day change in value equal to 85 times the stock’s average daily trading volume.

The near tripling of its stock price over two years, to deliver a market cap that briefly topped a trillion dollars last month, is stunning given Oracle’s other underlying numbers.

Mr Thomas points out that to deliver on the OpenAI deal, Oracle will have to lift its own capital spending by almost $100 billion over the next two years, an annualised growth rate of some 47%, even though its free cash flow has already fallen into negative territory for the first time since 1990.

The International Pet Industry Meets in Bangkok This October

The upcoming 2025 edition of Pet Fair South East Asia, marking the event’s fourth edition, will take place from October 29-31 at the Bangkok International Trade and Exhibition Centre (BITEC).

With a record show floor bringing together 450 exhibitors from over 40 countries and forecasted trade visitors from more than 80 nations, the event will once again serve as a comprehensive B2B hub for the global pet supply chain.

Featuring an exhibitor mix of 75% international and 25% local companies, the show offers one of the most internationally diverse show floors in the global pet industry’s 2025 event calendar. Featured product categories on the 2025 show floor include:

Food and Nutrition (pet food, pet treats, pet food ingredients)

Health and Care (healthcare, hygiene, grooming)

Play and Lifestyle (accessories, apparel, furniture, toys, carriers)

Technology and Sustainability (processing solutions, packaging solutions, smart tech solutions)

Several international country pavilions, developed in close collaboration with strategic private-sector and government partners, have been confirmed for Pet Fair South East Asia 2025. Confirmed country and regional pavilions include: The United States of America, China, United Kingdom, Japan, South Korea, Italy, Spain, Canada, Taiwan, and dedicated Thai and Southeast Asia-based Start-Up Pavilions

As the event continues to grow in scale and significance, Pet Fair South East Asia is set to further solidify Bangkok’s position as a key global meeting point for pet industry professionals in 2025.

International Conference Program

In addition to hosting 450 exhibiting companies, Pet Fair South East Asia 2025 will feature a comprehensive conference program with over 40 sessions across two stages, covering a wide range of industry-relevant topics, including Market Trends and Insights, New Product Innovations, Business Strategies and Growth, Regulatory and Compliance Updates, and various other topic areas.

The in-hall conference program is free of charge for all attendees and designed to deliver valuable knowledge and practical takeaways to industry professionals from around the world.

In addition, Pet Fair South East Asia 2025 will host the return of Petfood Forum Asia 2025 – a special one-day technical seminar addressing the latest ingredient solutions, processing techniques, and packaging innovations. Organised by WATT Global Media, the people behind Petfood Forum in Kansas City, North America’s No. 1 event for pet food professionals, Petfood Forum Asia 2025 will take place on October 29 in a private seminar room setting in co-location with the show. Ticket sales and early-bird rates for this special co-located conference are now available under https://www.petfoodforumevents.com/asia/

Special Networking Events

Pet Fair South East Asia 2025 will once again host two special networking events, designed to foster high-level business connections in a relaxed and enjoyable atmosphere.

October 29: Evening Networking Event within the Exhibition Hall

October 30: Skybar Rooftop Networking Night – offering stunning skyline views as the industry connects under the stars

New for 2025: For the first time, tickets for the Day 2 Rooftop Networking Event will also be available to show visitors. Previously, access was exclusive to exhibitors. Ticket sales for visitors will open in September.

Combine Business and Leisure in Bangkok

While Pet Fair South East Asia is a key platform for business growth and networking, it also provides the perfect chance to experience the world-renowned charm of Bangkok – consistently ranked among the world’s leading tourism destinations. Many exhibitors and visitors take the opportunity to extend their stay or plan a weekend escape. With its world-class hospitality, culture, and cuisine, Pet Fair South East Asia is not only a business trip but an inspiring experience in every respect.