E-commerce and trade

Google plans global expansion of YouTube Premium Lite

Google is reportedly preparing to launch YouTube Premium Lite, a cheaper alternative to its full subscription service, in several countries, including the US, Australia, Germany and Thailand. Bloomberg reports that the service will cater to users who want an ad-free experience for most videos but do not necessarily need access to YouTube Music.

YouTube previously tested a similar version of Premium Lite in parts of Europe in 2021, but the plan was discontinued in 2023. However, recent tests suggest that the updated version may include limited ads rather than a completely ad-free experience. Pricing remains unclear, but in Australia, a test version was listed at $8.99 AUD per month, significantly lower than the standard YouTube Premium price.

A YouTube spokesperson confirmed that the company is working on a new subscription tier with ‘most videos ad-free’ and hopes to expand it with support from its partners. While no official launch date has been announced, the move could provide a middle ground for users seeking fewer interruptions without committing to the full YouTube Premium package.

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Amazon’s own Appstore will no longer work on Android devices

Amazon has announced that its Appstore will no longer support Android devices from 20 August, 2025. While the marketplace will remain available on Fire TV and Amazon tablets, the company has not provided a clear reason for the change. Apps previously downloaded through the Appstore may continue to function, but Amazon warns they will no longer receive updates and may stop working over time.

This decision follows Microsoft’s move to discontinue Amazon’s Appstore support on Windows in early March. Alongside this, Amazon is also shutting down its Amazon Coins programme, a virtual currency used for app purchases. Users can spend their remaining balances until 20 August, after which refunds will be issued for any unused coins.

Despite attempts to compete with Google’s Play Store, Amazon’s Appstore struggled to gain widespread traction. While it initially offered unique features like app test drives and exclusive deals, its market share has diminished over time. With this latest move, Amazon appears to be shifting focus away from third-party Android devices, consolidating its ecosystem around its own hardware.

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UAE sees surge in crypto app downloads in 2024

The United Arab Emirates saw a sharp rise in cryptocurrency app downloads in 2024, with a total of 15 million installations recorded. According to data from AppsFlyer, this marked a 41% increase compared to the previous year, with the biggest surge occurring in December when downloads hit 2.8 million.

Analysts attribute this spike to several factors, including growing interest in digital assets and global political shifts. The US presidential election in November, won by Donald Trump, was seen as a boost for the crypto industry due to his pro-crypto stance. His launch of a meme coin in January further fuelled global interest, drawing new investors into the market.

While adoption continues to grow, retaining users has proven to be a challenge. AppsFlyer reported that aggressive marketing campaigns contributed to 60% of downloads, yet one in five crypto apps was uninstalled within 30 days. Despite this, January saw another record high, with 3.5 million downloads in the UAE alone, setting the stage for what could be a record-breaking year for the industry.

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China’s tech giants take on US rivals in stock market surge

Chinese tech stocks are experiencing a major surge, inspiring catchy nicknames as they rival the United States ‘Magnificent Seven’ tech giants. Driven by excitement around AI startup DeepSeek and perceived state backing following President Xi Jinping’s meeting with business leaders like Alibaba founder Jack Ma, the Hong Kong market has climbed significantly.

The Hang Seng index now ranks among the best-performing major markets this year, with leading firms stepping into the spotlight.

Brokerages have dubbed rising Chinese companies the ‘Seven Sisters,’ likely emerging from sectors like AI, chip-making, and high-end manufacturing. Companies such as Tencent, Alibaba, Xiaomi, and BYD are top contenders.

Another group, the ‘Terrific Ten,’ has also gained attention, with firms like JD.com, Geely, Baidu, and SMIC included, boosting the Hang Seng Tech index by nearly 70% over the past year—outpacing Nasdaq’s 27% gain.

The rivalry pits China‘s rising stars against the US ‘Magnificent Seven,’ a term coined by Bank of America, representing giants like Apple, Meta, and Nvidia.

Meanwhile, UBS has identified eight AI-driven Chinese stocks as the ‘VENUS Eight,’ and DeepSeek features among the ‘Little Dragon’ startups in Hangzhou, signalling China’s growing tech ambitions in the global market.

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STMicroelectronics unveils new AI chip for data centres

STMicroelectronics has announced the launch of a new computer chip aimed at the rapidly expanding AI data centre market. Developed in collaboration with Amazon Web Services (AWS), the photonics chip uses light rather than electricity, which helps increase speed and reduce power consumption in AI data centres. These chips are expected to be used in transceivers, which are crucial components in data centre infrastructure.

As top US software companies plan to invest $500 billion into AI infrastructure, there is rising demand for specialised chips, not only for computing but also for memory, power, and communications applications. ST’s new chip targets the communications sector, with a focus on improving the efficiency of transceivers, which are essential in AI data centres. The company also has a collaboration agreement with AWS to deploy this technology in their infrastructure later this year.

ST is working with a leading provider of optical solutions, although the company’s name has not been disclosed, to integrate the new chip into next-generation transceivers. The market for such devices, valued at $7 billion in 2024, is expected to grow significantly, reaching $24 billion by 2030. ST will begin mass production of these chips at its facility in Crolles, France.

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TikTok lays off staff in trust and safety restructuring

TikTok is reportedly laying off staff from its trust and safety unit, which is responsible for content moderation, as part of a restructuring effort. The layoffs began on Thursday, affecting teams in Asia, Europe, the Middle East, and Africa. Adam Presser, TikTok’s operations head, sent a memo to staff informing them of the decision, though the company has not yet commented on the move.

The layoffs come at a time when TikTok’s future is uncertain. The app, used by nearly half of all Americans, faced a brief outage last month, followed by a law that came into effect in January, requiring its Chinese owner ByteDance to either sell TikTok or face a national security-related ban. TikTok CEO Shou Chew had previously testified before Congress about the company’s trust and safety measures, pledging to invest more than $2 billion in these efforts.

In line with a shift towards AI-driven content moderation, TikTok had already made significant layoffs in October, including staff in Malaysia. The company currently employs 40,000 trust and safety professionals globally, but the full scope of the recent cuts remains unclear.

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Apple rejects UK plans for mobile browser controls

Apple has pushed back against proposed remedies from the UK’s competition watchdog, arguing they could hinder innovation in the mobile browser market. The Competition and Markets Authority (CMA) is investigating Apple and Google’s dominance in browser engines and cloud gaming distribution through app stores, with potential regulatory measures under consideration.

In its response, Apple stated that mandating free access to future WebKit updates or iOS features used by Safari would be unfair, given the significant resources required to develop them. The company warned this could lead to ‘free-riding’ by third parties and discourage further investment in browser technologies.

The UK CMA’s investigation aims to increase competition in the mobile browser space, where Apple’s WebKit engine is a key player. However, Apple insists that the proposed changes would harm its ability to innovate and could ultimately reduce the quality of browser experiences for users. The regulator is expected to continue assessing industry feedback before making a final decision.

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EU grants €920 million to Infineon for new semiconductor facility

The European Commission has approved a €920 million German state aid package for Infineon to build a new semiconductor manufacturing plant in Dresden. This funding will support the company’s MEGAFAB-DD project, which aims to produce a wide variety of chips. The new facility, expected to reach full capacity by 2031, will play a key role in strengthening Europe’s technological autonomy and security of supply in semiconductor technologies, aligning with the European Chips Act’s goals.

This move is part of a global trend where chipmakers are investing heavily in new plants, taking advantage of subsidies from the US and the EU to maintain the West’s edge in semiconductor technology over China. The European Commission has allocated €15 billion for public and private semiconductor projects by 2030, further reinforcing the region’s commitment to securing its position in the industry.

Infineon’s €3.5 billion investment, the largest in its history, will help address the growing demand for semiconductors used in industrial, automotive, and consumer applications. The company has committed to ensuring the plant benefits the wider EU semiconductor value chain, including research and development for the next generation of chips. The plant will also contribute to crisis preparedness by prioritising orders in case of supply shortages.

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Dutch companies to launch first regulated digital euro

Three Dutch firms have joined forces to launch EURQ, a blockchain-based digital euro designed to merge decentralised technology with traditional financial systems. The collaboration, involving Quantoz Payments, NPEX, and Dusk, marks the first time a licensed stock exchange will integrate electronic money tokens into its operations. The initiative, fully compliant with European regulations, aims to provide businesses and individuals with a secure, regulated digital euro.

EURQ is built to meet the Markets in Crypto-Assets Regulation (MiCA) requirements, allowing the seamless trading of real-world assets on-chain via the Dusk and NPEX networks. Quantoz Payments will establish a regulatory-compliant framework, enabling faster and more efficient cross-border transactions. The initiative is expected to set a new standard in financial innovation, demonstrating how blockchain can enhance existing monetary systems.

The project’s leaders stress that EURQ is more than just a stablecoin—it is a true digital representation of the euro, fully approved by regulators. They see it as a significant step towards integrating digital assets into mainstream finance, promoting greater transparency and trust within the financial sector. This development highlights the evolving role of blockchain in regulated markets, paving the way for further advancements in digital finance.

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X discusses a new financing round at $44 billion

Elon Musk’s social media company X is currently in discussions to raise funds from investors at a $44 billion valuation, according to Bloomberg News. Musk purchased the platform, formerly known as Twitter, for the same price in 2022.

The financing talks are still ongoing, with the potential for details to change or even for the discussions to be abandoned altogether, the report added. The US company has not yet responded to requests for comment on the matter.

In related news, last month, it was reported that Morgan Stanley, Bank of America, and Barclays were preparing to sell up to $3 billion in debt holdings in X.

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