Malaysia has cautioned that US President-elect Donald Trump’s proposed tariffs on BRICS nations could disrupt the global semiconductor supply chain. Trump has warned of 100% tariffs on BRICS members unless they halt efforts to create a new currency or reduce reliance on the US dollar, a move Malaysia’s trade minister, Tengku Zafrul Aziz, says could harm both sides.
The United States is Malaysia’s third-largest trade partner, and US firms are key investors in Malaysia’s semiconductor industry, which handles 13% of global chip testing and packaging. Tengku Zafrul emphasised that supply chain stability depends on cooperation, not protectionist measures.
While BRICS countries have discussed alternatives to the dollar, no official decision has been made. Malaysia has applied to join the bloc but is not yet a member. Meanwhile, Russia argued that US pressure would only accelerate global moves toward national currencies in trade.
Vietnam has temporarily suspended operations of Chinese online retailer Temu after the company failed to meet a business registration deadline set for the end of November. The trade ministry announced the move as part of broader efforts to regulate foreign e-commerce platforms, citing concerns over heavy discounting and potential counterfeit sales.
Temu, owned by China’s PDD Holdings, began serving Vietnamese shoppers in October but must now complete its registration process to resume operations. The platform’s Vietnamese-language options were removed, and Temu confirmed it is working with authorities to comply but gave no timeline for its return.
Shein, another Chinese retailer affected by the deadline, also had its Vietnamese site disabled, though it remains unclear if its operations were officially suspended. The crackdown comes amid Vietnam’s push for stricter tax regulations, including ending value-added tax exemptions for low-cost imported goods, a change expected to impact foreign e-commerce platforms significantly.
Turkey‘s competition board has concluded its investigation into Meta Platforms regarding data-sharing practices between Threads and Instagram. The inquiry, launched last year over potential competition law violations, ended after Meta addressed concerns through commitments deemed satisfactory by the authority.
Meta pledged that Threads users in Turkey will be able to access the platform without needing an Instagram account, once Threads becomes available again. Additionally, the company assured that data from Threads accounts will not be merged with Instagram unless users explicitly choose to link their profiles.
In April, Meta temporarily suspended Threads in Turkey to comply with an interim order from regulators. The resolution paves the way for the app’s reinstatement while easing concerns over anti-competitive practices.
Amazon has unveiled a series of advanced AI platforms, dubbed Nova models, at its AWS conference in Las Vegas. The tools enable users to generate text, images, and videos, representing a major leap in the company’s AI offerings. The announcement places Amazon in direct competition with Adobe, Meta, and other tech giants vying to dominate AI-driven automation.
The new Nova Reel software is designed to create videos from single images or text prompts, offering six-second clips initially, with longer formats to follow. Amazon CEO Andy Jassy highlighted developers’ need for improved latency, lower costs, and customisation capabilities as key drivers behind the innovations. These features aim to meet growing demand from businesses seeking efficient AI-powered solutions.
Amazon’s leadership emphasised the competitive edge of the new models. Rohit Prasad, head of artificial general intelligence, pointed to the platform’s speed and affordability as factors expected to attract users. Prasad described the current AI landscape as ‘very early,’ suggesting Amazon has significant potential to establish itself as a leader.
Nova models mark Amazon’s attempt to shed perceptions of lagging behind in AI advancements. The tools come at a critical time when interest in video generation and automation is surging across industries, with companies like OpenAI and ByteDance also introducing competitive applications.
Virgin Voyages has made history by becoming the first cruise line to accept Bitcoin for payments. The cruise line, founded by Sir Richard Branson, now allows customers to use the leading cryptocurrency to purchase its recently launched Annual Pass. Priced at $120,000, the pass secures a spot on a sea terrace for an entire year and offers various exclusive perks.
This step marks a pivotal shift for the company as it embraces the growing influence of digital finance. Branson’s Virgin Galactic was one of the first companies to accept Bitcoin back in 2013 for future space travel. With this latest announcement, Virgin Voyages signals its commitment to innovation in the travel industry.
The move aligns with a broader trend in 2024, a year that has seen increased adoption of Bitcoin across various sectors. As the cryptocurrency continues to gain regulatory acceptance and reach new milestones, more companies are likely to follow Virgin Voyages in integrating Bitcoin into their payment systems.
The Netherlands Authority for Consumers and Markets (ACM) is receiving complaints related to the Digital Services Act (DSA), but it currently lacks formal authority to act until the law is fully transposed by the national parliament. The DSA, which aims to regulate large online platforms and protect users, became applicable in February 2024, but enforcement will only begin once the Netherlands passes the necessary implementing legislation.
Martijn Snoep, Chairman of the ACM, highlighted that enforcement under the DSA is expected to lead to clashes between regulators and Big Tech leaders, although he plans to approach this more neutrally. The ACM focuses on three main areas: ensuring platforms comply with basic rules, protecting minors online, and tackling irresponsible hosting providers. While the Dutch regulator is investigating non-compliant companies, it cannot yet take enforcement actions against foreign firms or force them to share information.
The ACM has received 227 complaints, mostly regarding companies based outside the Netherlands, and while it can redirect these to other regulators, it cannot yet act on them. Snoep emphasised that, despite challenges, the Netherlands is preparing to enhance its regulatory capacity to ensure fair compliance, though he prefers waiting before introducing new legislation on emerging issues like online child safety or advertising.
Despite the slow start, the ACM is confident that over time, as the industry adapts to a more regulated environment, digital platforms will gradually become more compliant with the DSA’s requirements.
Dutch semiconductor equipment maker ASM International (ASMI) said that the new US export controls align with its earlier 2025 revenue outlook. The updated restrictions, which include limits on semiconductor equipment exports to China, are not expected to significantly affect the company’s financial targets. ASM’s larger peer, ASML, has also indicated that the new regulations will not disrupt its financial guidance.
While the export controls include new limits on chip-manufacturing tools and equipment production in countries like Singapore and Malaysia, ASM believes that these changes will have only an indirect impact on its business. The company reaffirmed its 2025 revenue goal of between 3.2 billion and 3.6 billion euros ($3.4 billion to $3.8 billion) and expects a moderate sales decline in China in the first half of 2025, with year-on-year declines in its full-year sales in China.
ASM maintained its fourth-quarter sales guidance for 2024, expecting between 770-810 million euros, with a rise of more than 15% in sales from July to December compared to the first half of the year. Following the announcement, ASM’s shares rose by 1.5%.
Google Cloud has partnered with Air France-KLM to apply generative AI technology to the airline group’s vast data. The airline’s extensive operations, which include 551 aircraft and 93 million passengers carried in 2023, generate significant amounts of data. Google Cloud’s AI solution will analyse passenger preferences and travel patterns and optimise aircraft maintenance predictions.
The partnership aims to enhance the airline’s operations by offering more tailored services to passengers and improving maintenance efficiency, reducing the time needed for predictive analysis from hours to minutes.
Despite the collaboration, Air France-KLM will retain full control over its data. Matt Renner, President of Google Cloud’s Global Revenue, emphasised the value of airline data in driving operational insights and enhancing customer experiences.
Chinese AI company SenseTime Group, which has struggled to keep up with rivals in the generative AI sector, announced a major organisational restructuring on Tuesday to shift its focus toward generative AI technologies. The Hong Kong-listed firm, which was once a leader in computer vision and surveillance, has faced a 61% drop in its share price since its IPO three years ago.
As part of its transformation, SenseTime is pivoting to make generative AI its core business, aiming to drive future growth and profitability. This comes as its traditional AI business, especially in computer vision, has seen a significant decline, with revenues from its ‘traditional AI’ segment dropping by more than 50% in the first half of the year.
SenseTime launched its own large language model, SenseNova, in early 2023, positioning it as a competitor to OpenAI’s GPT models. The company’s restructuring involves the creation of several new business units, each with its own CEO, focusing on sectors like smart healthcare, robotics, and smart retail. Despite its challenges, SenseTime continues to push for a shift toward more profitable, cutting-edge AI technologies.
Investors are flocking to data centre operators in the Asia Pacific region, driven by the growing demand for AI services and robust market valuations. Major transactions, like Blackstone’s $15.58 billion acquisition of Australia’s AirTrunk, have set high benchmarks for the sector. Industry experts predict that the region’s data centres will continue to see strong valuations due to their nascent stage and promising growth, despite concerns about insufficient infrastructure in some areas.
Several notable investment opportunities have surfaced, such as the sale of stakes in Indonesian data centre NeutraDC and Telkom’s data centre arm, which could be valued at over $1 billion. These deals reflect a broader trend of investors seeking high-growth opportunities in the region. NeutraDC’s expansion plan, which aims to increase capacity to 500 megawatts by 2030, has made it an attractive target, with valuations potentially exceeding 20 times core earnings.
The Asia Pacific region has become a leader in global data centre mergers and acquisitions, surpassing half of the world’s total transactions this year. This surge is attributed to the booming AI demand, with companies rapidly expanding their data processing capacity. However, some investors warn that the sustainability of these high valuations will depend on overcoming challenges like power shortages and the reliable delivery of new infrastructure projects.
While the long-term outlook for Asia Pacific’s data centre market remains positive, experts predict that growth may slow slightly as new capacity is brought online. Investors will need to navigate execution risks to maintain the sector’s momentum and ensure the continued expansion of data centre infrastructure.
