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Indonesian e-commerce platform Bukalapak reported a 37% revenue growth in Q1 2025, reaching 1.5 trillion rupiah (US$89.74 million), driven by strong performance in gaming and retail segments. The company achieved a net profit of 112 billion rupiah (US$6.7 million), recovering from a significant loss in the previous quarter, and ended with 18.8 trillion rupiah (US$1.12 billion) in cash and liquid investments, indicating robust financial stability. This turnaround follows a strategic pivot towards higher-margin virtual products, reflecting a response to the competitive e-commerce landscape in Indonesia.
Cove, an Indonesian co-living startup, has expanded its operations to Surabaya and Yogyakarta, aiming to add 2,400 new rooms by 2025 amid rising housing demand. The company achieved an 80% occupancy rate at its first Surabaya property within a month and is offering consulting services in Yogyakarta to help property owners convert spaces into co-living units. This expansion aligns with Indonesia's housing affordability crisis and emphasizes the importance of transit-oriented development in urban areas.
Indian voice AI platform Stimuler has secured $3.75 million in pre-series A funding, led by Lightspeed and SWC Global, to enhance its AI infrastructure and expand its team. The company focuses on providing a voice-first AI tutor for English-as-a-second-language learners, particularly in Latin America and Southeast Asia, where demand for English proficiency is rising. Stimuler's innovative approach addresses key challenges in language acquisition, offering personalized feedback and tailored learning paths that traditional methods cannot match.
Adidas reported a 9.9% operating margin with a profit of €610 million for Q1 2025, but will not revise its full-year outlook due to uncertainties surrounding US tariffs, which could raise production costs and affect pricing. The company is focusing on improving results in non-US markets as it navigates these challenges.
South Korea's LG Group is increasing its investment in a battery cell factory in Indonesia by $1.7 billion, bringing the total to $2.8 billion. This move supports the HLI Green Power joint venture with Hyundai, following LGES's withdrawal from a larger $8.46 billion EV battery supply chain project due to market conditions. Despite this, Indonesia's government remains committed to its EV development strategy, leveraging its significant nickel reserves to attract manufacturing investments.
A global survey by the University of Melbourne and KPMG reveals that individuals in emerging economies exhibit greater trust in AI, with three in five expressing confidence compared to two in five in advanced nations. Despite high skepticism—58% deeming AI untrustworthy—two-thirds regularly use AI, highlighting a gap between trust and usage. Economic benefits may drive this disparity, as emerging markets view AI as a means to access previously unavailable services, necessitating careful management of AI adoption to address ethical concerns.
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The Amex Business Platinum Card offers business owners a wealth of travel benefits, including a limited-time welcome bonus of 150,000 Membership Rewards points and a $500 statement credit for qualifying flight purchases. With a high annual fee of $695, the card provides access to over 1,400 airport lounges and the ability to earn 5x points on flights and hotels. By leveraging the card's perks, users can enjoy luxury travel experiences, such as booking a week at a 5-star hotel in Asia using transferred Hilton Honors points.
Indonesia's QR code payment system is gaining traction across the region, showcasing its potential for growth despite facing criticism from the United States. This expansion highlights the increasing adoption of digital payment solutions in Southeast Asia, reflecting a shift in consumer behavior and financial technology trends.
Indonesia's Quick Response Code Indonesian Standard (QRIS) payment system is expanding regionally, now compatible with systems in Singapore, Malaysia, and Thailand, despite US criticisms regarding trade barriers. With over 56 million users and 2.6 billion transactions, QRIS is a key part of Indonesia's digital transformation strategy, projected to boost the digital economy to $146 billion by 2025. The introduction of QRIS Tap, utilizing NFC technology, further enhances its appeal, positioning Indonesia as a leader in the growing global QR payments market.
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