Emad Yassa is a healthcare entrepreneur and nonprofit founder with more than three decades of professional experience across clinical practice and international philanthropy.

Yassa is the Founder and Chairman of Touch of Love International (TOLI), a nonprofit organisation focused on economic empowerment through micro-loans in underserved communities.

Born and raised in Egypt, Emad studied physical therapy at Cairo University, graduating in 1985. During his university years, he was also a competitive athlete and earned a silver award in single rowing. In 1989, he relocated to the United States, where he began building his career in outpatient physical therapy.

In 1995, Emad founded Physical Therapy and Rehab in West Hills, California. The clinic grew steadily and reflected his hands-on approach to leadership and patient care. After moving to Colorado Springs in 2005, he worked with Cheyenne Mountain Rehab before launching Dynamic Physical Therapy in 2007. He led the practice for over fifteen years, guiding it through growth, operational challenges, and long-term stability. In August 2023, he sold the business to focus full time on his nonprofit work.

Emad founded Touch of Love International in 2006, alongside his clinical career. The organisation provides small micro-loans to individuals and families in Egypt, Kenya, Ethiopia, Uganda, and Nicaragua. His work centres on dignity, accountability, and long-term self-reliance rather than short-term aid.

Today, Emad is recognised for his disciplined leadership style, cross-sector experience, and commitment to building systems that create lasting impact.

A Conversation with Emad Yassa on Building Businesses, Purpose, and Long-Term Impact

Q: You began your career in Egypt. What shaped your early direction?

I grew up in Egypt and studied physical therapy at Cairo University. I was focused on discipline early on. Sports played a big role for me. I rowed competitively and won a silver award while at university. That experience taught me structure and endurance. Those lessons stayed with me long after graduation.

Q: What prompted your move to the United States in 1989?

I wanted broader professional opportunities and exposure to a different healthcare system. Moving countries was challenging, but it pushed me to adapt quickly. I learned how to work within new regulations, new cultures, and higher expectations.

Q: Your first business came in 1995. How did that start?

I founded Physical Therapy and Rehab in West Hills, California. At the time, I was very hands-on. I treated patients, managed operations, and learned the business side through experience. It taught me how important systems and consistency are.

Q: Why did you relocate to Colorado Springs?

In 2005, I moved to Colorado Springs and worked with Cheyenne Mountain Rehab. It gave me a different perspective on practice management and team dynamics. That experience helped prepare me to launch my next clinic.

Q: Dynamic Physical Therapy became a long-term chapter. What made it different?

I founded Dynamic Physical Therapy in 2007. By then, I understood how to build a practice that could last. We focused on steady growth and patient trust. I led the clinic for over fifteen years, which required constant adjustment as healthcare evolved.

Q: You sold the business in 2023. Why then?

It was a deliberate decision. I had already started Touch of Love International years earlier, but I wanted to give it my full attention. Selling the practice allowed me to shift my focus completely.

Q: Tell us about the origin of Touch of Love International.

I founded TOLI in 2006. The idea was simple. Small loans can change lives if they are given responsibly. We work in Egypt, Kenya, Ethiopia, Uganda, and Nicaragua. The focus is self-reliance, not dependency.

Q: How does your business background influence your nonprofit work?

Very directly. Structure, accountability, and follow-through matter in any organisation. I approach the nonprofit with the same discipline I used in healthcare.

Q: How do you define leadership today?

Leadership is about consistency and responsibility. It is showing up, making hard decisions, and building something that lasts beyond you.

Gaming now transcends the physical realm. If you want the thrill of spinning today, you no longer need to live near a casino or plan a trip. That excitement, which once required time and travel, can now be accessed wherever you are.

Let’s be clear – this isn’t about good versus bad, or old versus new. Physical casinos are undeniably fun. Online gaming simply builds on that fun, offering more flexibility and choice.

Physical casinos are where it all began, and they are big business. There are over 6,500 operational physical casinos across more than 95 countries, and the worldwide land-based casino market was estimated at $107.5 billion in 2024.

While there is no doubt that physical casinos remain an important part of the gaming and gambling industry, online gaming offers something different and unique.

Online platforms remove many of the practical barriers that come with physical casinos. There’s no need to plan around opening hours and no requirement to live near one. The benefits of gaming online are reflected in consumer behavior, with the number of users spinning with online casinos rising by 19% between 2023 and 2024.

If you love a particular land-based casino, you have to be there in person, operating on its schedule. Your experience is tied to that place.

But if you have a favorite online casino, you can play from almost anywhere. The experience fits around your life, not the other way around. Platforms like Roobet are built and designed around this ethos, enabling players to jump straight into games without friction.

Another great strength of online casinos is their ability to leverage technology to tackle operational challenges. For example, over 70% of major gambling platforms use AI to detect fraud and support responsible gambling measures, helping to ensure a secure and fair environment for players.

At the same time, these platforms use AI to create a more personalized experience. By analyzing session length, play styles, and preferred game formats, they can recommend games and bonuses that are tailored to each player’s preferences. The result is a more personalized, engaging gaming experience.

Delivering this level of personalization at scale is extremely difficult for physical casinos. Online, it’s built into the design. Platforms like Roobet use this approach to create experiences that feel intuitive, helping players spend more time enjoying the games they love.

Importantly, licensed online platforms also operate under strict regulatory standards, with identity checks, secure payments, and responsible-gaming tools helping to keep players safe while they play.

Variety is another asset of online casinos. While physical casinos are limited by floor space, online platforms have no such constraints.

Online platforms can offer thousands of games across every style imaginable. Think of classic slots, live games, Crash, and everything in between.

Whatever type of game you enjoy, there’s almost certainly an online version waiting for you.

Stake has more than 2,000 games. Betpanda has over 6,000. Roobet alone offers more than 7,000 games, including popular titles like Gates of Olympus, Sweet Bonanza, Crazy Time, and Roobet Originals such as Crash and Mission Uncrossable. That scale of choice means whatever kind of game you enjoy, there’s almost always something new to try.

Alongside variety, online platforms can offer more frequent bonuses and rewards. Lower overheads mean better value for players, whether through promotions, loyalty perks, or higher overall returns.

In simple terms, players tend to get more chances to play and more entertainment for their time.

Physical casinos remain iconic. A stay and spin at places like the Bellagio or Caesars is special. But those experiences aren’t available to everyone, all the time.

Online gaming expands the spinning experience. It offers more choice, more rewards, more freedom, and more accessibility, all without losing the thrill that made casinos popular in the first place.

Online, the fun is endless, seamless, and safe.

In January 2026, the SET Index rose by 5.2% to close at 1,325.62 points, with an average daily trading value of 46,496 million THB, marking a 19.2% increase year-on-year. Foreign investors were notably active, contributing a net purchase of 4,345 million THB, leading to a total of 10,547 million THB over two months, while the investor composition showed foreign investors at 53.37%.

The IMF upgraded its global growth forecast to 3.3%, propelled by advancements in AI and government stimulus, amidst a stable U.S. interest rate of 3.50–3.75%. No new companies listed on SET or mai, but 2025 recorded the highest dividends and share buybacks in history, with high dividend yield stocks achieving a total return of 11.32%.

1. Market Overview

• Date: January 2026
• SET Index: Closed at 1,325.62 points, a 5.2% increase compared to the end of 2025, aligning with trends in major regional markets .
• Average Daily Trading Value: 46,496 million THB, up 19.2% year-on-year .

2. Key Statistics

• Foreign Investment: Net foreign purchases amounted to 4,345 million THB, marking a total of 10,547 million THB over two consecutive months of net buying, the first since July 2023 .
• Investor Composition:
  • Foreign Investors: 53.37%
  • Domestic Retail Investors: 29.63%
  • Domestic Institutional Investors: 10.56%
  • Securities Firms: 6.44% .

3. Economic Trends

• Global Economic Outlook: The IMF revised its global growth forecast for 2026 to 3.3% from 3.1%, driven by AI advancements and government stimulus policies .
• Interest Rates: The Federal Reserve maintained interest rates at 3.50–3.75%, with mixed opinions among board members regarding future rate cuts .

4. Sector Performance

• Top Performing Sectors: Technology, industrial goods, and resources outperformed the SET Index compared to the end of 2025 .
• No New Listings: No new companies registered for trading on SET or mai during January .

5. Market Reactions

• Geopolitical Concerns: Commodities rallied due to geopolitical tensions, while global markets experienced volatility following news of a potential new Fed chair appointed by Trump, which raised concerns about future monetary policy .
• Upcoming Events: A significant event is the Thai general election on February 8, 2026, historically correlated with positive returns for the SET Index in the month before and after elections .

6. Dividend and Share Buyback Trends

• Record Payouts: 2025 saw the highest recorded dividends and share buybacks in history, with high dividend yield stocks (SETHD) achieving a total return of 11.32% .

This summary encapsulates the essential aspects of the stock market and economic conditions in January 2026, highlighting significant trends, investor behaviors, and forecasts impacting the market.

Source : Presentation summarizing the stock market situation in January 2026

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Shares of PSU Bharat Heavy Electricals (BHEL) fell around 5% to Rs 259.3 on Wednesday morning after the government launched an Offer for Sale (OFS) to sell up to 5% stake in the company to raise around Rs 4,422 crore. The floor price for the OFS has been fixed at Rs 254 per share, which is at a discount of 8% to Tuesday’s closing price of Rs 276.05.

Under the offer, the Centre will first sell a 3% stake, with an option to sell an additional 2% if the issue is oversubscribed.

The offer opened for subscription on Wednesday for non-retail investors, while retail investors can place their bids on Thursday.

If fully subscribed at the floor price, the sale of 17.41 crore shares, or 5% stake, would fetch the government Rs 4,422 crore.

The base issue size comprises over 10.44 crore shares, or 3% stake, in BHEL, plus a greenshoe option to sell over 6.96 crore shares or 2%.

The government holds 63.17% in BHEL.
So far in the current fiscal year, the government has raised Rs 8,768 crore through PSU disinvestments.Sensex, Nifty today: Catch all the LIVE stock market action here

BHEL reported a sharp turnaround in its December-quarter performance, with net profit more than tripling on the back of higher execution and operating leverage. The state-owned engineering major posted a net profit of Rs 382 crore for the third quarter ended December 2025, compared with Rs 125 crore in the same period last year, marking a 206% year-on-year jump.

Revenue from operations rose 16% YoY to Rs 8,473 crore from Rs 7,277 crore a year earlier, reflecting improved project execution and a stronger order pipeline. Total income for the quarter, including other income, stood at Rs 8,700 crore, up from Rs 7,393 crore in the year-ago period.

Artificial intelligence (AI) is significantly bolstering scam centers across Southeast Asia, enabling them to evade crackdowns, target more victims, and operate with unprecedented sophistication and efficiency.

Despite efforts by governments to dismantle these operations, Interpol officials warn that AI tools are making the criminal business model easier, leading to the evolution and expansion of scam centers rather than their eradication.

AI’s integration into scam operations enhances various aspects:

• Sophistication and Realism:
  • Large language models (LLMs) like ChatGPT are used to craft highly authentic-sounding messages, even in languages where scammers may not be fluent.
  • AI tools generate realistic job advertisements within seconds, making them harder to identify as fraudulent.
  • Voice cloning and deep fake technology allow for convincing voice and video impersonations, enabling scammers to pose as family members or alter their appearance (e.g., men appearing as women) to dupe victims globally.
• Efficiency and Scale:
  • AI allows criminals to target larger pools of potential victims at high speed.
  • Operations can be scaled up at a low cost, increasing profitability and making operators more willing to risk detection.
  • The technology enables quick adaptation, allowing centers to shift to new targets and locations rapidly.

Government crackdowns, such as Cambodia’s arrest and deportation of alleged kingpin Chen Zhi and Beijing’s execution of individuals linked to Myanmar scam centers, are underway following international pressure. However, these actions are met with the scam industry’s increasing professionalization and adaptability through AI. This advancement in criminal tactics presents “uncharted territory” for law enforcement, who struggle to keep pace with the evolving methods.

The societal cost of these scam farms is high and rising, with a conservative estimate putting the annual value of funds stolen by transnational criminal networks involved in online gambling and scams at $64 billion by the end of 2023. Geographically, scam operations are expanding beyond Southeast Asia, with new centers emerging in the Americas, Africa, and the Middle East, some showing links to Asian gangs or being run by local organized groups, indicating a globalization of the modus operandi.

While AI has not yet reduced the number of people trafficked into these centers, experts suggest it could in the future by diminishing the need for large numbers of “worker bees” and concentrating on fewer core personnel alongside AI-driven efficiencies.

These developments underscore a growing challenge for authorities worldwide, as the integration of AI allows scammers to refine their operations, making detection and prevention significantly harder. The use of deepfake technology, AI-driven phishing schemes, and automated communication tools enables criminal networks to exploit vulnerabilities on an unprecedented scale. Meanwhile, international cooperation remains inconsistent, further complicating efforts to dismantle these operations. As governments and law enforcement agencies scramble to adapt, the need for advanced technological tools and cross-border collaboration becomes more urgent than ever.

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Benjamin Nasberg is a Canadian entrepreneur and the CEO of Carbone Restaurant Group. He is known for building scalable hospitality businesses while staying closely connected to the people and communities behind them. His career reflects a steady focus on growth, culture, and practical leadership.

Nasberg began working in restaurants at the age of 16. Those early roles gave him a ground-level understanding of operations, teamwork, and customer experience. He later graduated as valedictorian from Shaftesbury High School and earned a Bachelor of Science from the University of Manitoba. Rather than follow a conventional corporate route, he chose to build his career in hospitality.

In 2011, Nasberg became managing partner of a small restaurant called Carbone. Under his leadership, the business expanded from one location to four within four years. He also helped launch a nightclub, a sports bar, and an events company, applying the same disciplined approach to each venture. Today, as CEO, he oversees Carbone Restaurant Group’s continued expansion across North America.

Benjamin Nasberg is recognised for turning ideas into structured, workable models. During the pandemic, he founded the Restaurant Emergency Support Fund, which partnered with charities to purchase meals from local restaurants and distribute them to people in need.

His leadership approach is rooted in consistency, accountability, and culture. He focuses on long-term value rather than short-term gains. Through measured growth and clear decision-making, Benjamin Nasberg continues to shape a modern, resilient hospitality business.

Benjamin Nasberg: Building Ideas, Teams, and Sustainable Hospitality

Let’s start at the beginning. How did your career in hospitality first take shape?

I started working in restaurants when I was 16. It wasn’t part of a long-term plan at the time. I just liked going out for dinner and had friends that could get me a job at one. But I quickly realised how much I enjoyed the pace and the teamwork. Growing up in Winnipeg, I was also around family businesses and community spaces, so being in an environment where people gathered felt natural to me. Plus my family either went out for dinner or ordered in 3-4 times per week growing up!

What did those early jobs teach you that still matters today?

They taught me respect for the work. When you’ve washed dishes, cleared tables, and handled a busy service, you understand how much effort goes into one good night. That perspective stays with you. Even now, as a CEO, I don’t see operations as abstract numbers. I see real people doing real work. That changes how you make decisions.

How did Carbone Restaurant Group come into your life?

In 2010, a friend and their brother inlaw told me about a restaurant they were planning to open with another partner. I was intrigued as I had always thought of eventually owning a restaurant. As I saw it start to come to life in 2011, they had asked if I wanted to throw some events and partys there, which I did. They went over really well and I was then approached with the idea of becoming the managing partner of Carbone. At the time, it was one location with a strong concept but limited structure. I saw an opportunity to build something solid. I didn’t have everything figured out, but I trusted my instincts and the people involved. That decision shaped the rest of my career.

Carbone grew quickly in the early years. What guided that growth?

We focused on fundamentals. Consistent service, strong culture, clear roles and taking some gambles. Within four years, we expanded from one location to four. At the same time, I launched a nightclub, a sports bar, and an events company. Each project came from observing what our community wanted. We didn’t chase trends. We responded to demand and tried to execute well.

What challenges came with that pace of expansion?

The biggest challenge was wrong people and decisions locations. It is easy to double down. But is much different to triple or quadruple down as you can only be so many places at once. And until you have the systems in place to essentially replicate you and the energy you bring, opening is easy but sustaining operations and growth is tough. Early on we relied on the wrong franchise partners. The idea itself was sound, but the people we brought on were not as ready as they had made us seem. We also took locations that were lower rent but less attractive locations. I would rather pay higher rent now for guaranteed foot traffic and focus many on managing systems. That experience taught me that growth only works when the foundation is solid and the people have done the thing you are looking to achieve. Speed can feel productive, but readiness is what actually protects the business.

How has your role changed as CEO over time?

My job used to be very hands-on, solving problems hour by hour. Now it’s more about meeting with shareholders, strategic partners, and direction. You can’t be everywhere forever. At some point, your responsibility is to create an environment where others can make good decisions without you. I now rely on a small group of people that I can trust to keep the wheels turning, while I look for our next 5 years of growth.

During the pandemic, you launched the Restaurant Emergency Support Fund. What led to that idea?

I saw two problems happening at the same time. Restaurants were struggling to survive, and food banks were overwhelmed. It didn’t make sense to treat those issues separately. The Restaurant Emergency Support Fund partnered with charities like S.S.C.O.P.E. Inc. to purchase meals directly from local restaurants and distribute them to people in need. We served meals almost every day early on in COVID. It showed me how effective simple, practical ideas can be when they connect existing resources.

How does community involvement fit into your business philosophy?

It’s part of the responsibility that comes with growth. I’ve been fortunate, and I don’t think success exists in isolation. Whether it’s the Westland–Carbone Culinary Scholarship or supporting KidSport Manitoba and Coats for Kids, the goal is to strengthen the environment around the business. When communities do well, businesses do better too.

What keeps you motivated after years in the industry?

I enjoy building things that last. Hospitality is challenging, but it’s also deeply human. People come together in these spaces to celebrate, relax, and connect. Being able to shape those experiences is still motivating. I also enjoy learning. I spend time reading outside my field because new ideas often come from unexpected places.

Looking back, how do you define progress in your career?

Progress isn’t just expansion. It’s stability, trust, and consistency. It’s knowing the culture can survive without you in the room. When a team operates well on its own, that’s real progress.

What would you say to someone early in their career today?

Be mindful who you partner with. Know everything about them, like you are going to marry them (because you are). Ensure they have different skillsets than you but you share the same vision for the business and the same values. Pay attention. Don’t feel bad asking for help. Learn from people who have done the thing you are looking to accomplish. Don’t rush to the top. The experience you gain early becomes the foundation for everything that follows. If you build that foundation carefully and the right connections, the rest tends to make more sense.