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Since its launch in late 2018, KBZPay has transformed KBZ Bank into Myanmar's leading digital lifestyle enabler, boasting over 19 million users. The platform's annual transactions surged from 1.2 billion in 2023 to over 2.1 billion in 2024, reflecting a remarkable 90%+ growth. Powered by Huawei's cloud, KBZPay offers a robust suite of financial services with exceptional uptime, performance, security, and agility, driving financial inclusion and digital transformation across the nation.
Huawei Cloud is accelerating AI adoption in the Asia Pacific by signing cooperation MoUs with Silverlake and GlobeOSS, and hosting the 2025 Asia Pacific Partner Conference, which gathered over 500 partners. The company emphasizes building a robust ecosystem to enhance competitiveness and drive growth through strategic partnerships and localized solutions. With significant investments in AI-native cloud services and infrastructure, Huawei Cloud aims to empower enterprises and foster innovation across key industries in the region.
Chinese exports surged by 8.1% year-on-year in April, reaching a record USD 315.7 billion, despite a 21% drop in exports to the US due to increased tariffs. Exports to ASEAN and the EU rose significantly, indicating resilience in global trade, which may support the CNY against depreciation in the coming months.
A2D Ventures has partnered with India’s We Founder Circle to foster cross-border innovation and investment opportunities for startups in Southeast Asia and India. This collaboration comes amid a funding reset in Southeast Asia, where startups are now prioritizing sustainable business models and diversifying capital sources, with a notable increase in AI and climate tech investments. The partnership aims to enhance transparency and efficiency in investment processes, reflecting a broader trend of cross-border expansion as startups seek growth beyond fragmented local markets.
Crypto donations have surpassed $1 billion in 2024, gaining significant momentum following the earthquake in Myanmar and Thailand. This surge highlights the growing acceptance and impact of cryptocurrency in humanitarian efforts and disaster relief initiatives.
Thailand’s Gulf Development, led by billionaire Sarath Ratanavadi, debuted on the stock exchange on April 3 after merging Gulf Energy Development and Intouch Holdings Pcl. The new entity opened with a market valuation of 736 billion baht (approximately US$21.4 billion), reflecting a 13% drop from the pre-merger value. Despite economic challenges, including a 36% US tariff and the impact of a 7.7-magnitude earthquake in Myanmar, the stock rose 1% in early trading. The merger combines power, infrastructure, and LNG operations with telecom assets, positioning the company for growth in sectors like AI and data centers.
On April 2, the US imposed tariffs of 10% to 49% on several Southeast Asian nations, with Vietnam, Cambodia, and Laos facing the highest rates at 46%, 49%, and 48%, respectively. This move, justified by the White House as a response to unfair trade practices, could severely impact export-driven economies, particularly Vietnam, where US trade constitutes a significant portion of exports and GDP. Critics argue the tariffs are based on trade surplus data rather than actual rates, potentially undermining trust in US partnerships in the region amid growing Chinese influence.
Asian shares plummeted on Monday, with Tokyo's Nikkei 225 dropping over 4% following a significant retreat on Wall Street, driven by fears of worsening inflation and a slowing U.S. economy amid escalating trade tensions. The S&P 500 experienced its worst day in two years, falling 2%, while consumer pessimism about future finances surged, raising concerns about a potential stagflation scenario. As markets brace for upcoming tariff announcements, oil prices and U.S. futures also declined.
Zhao has committed to providing BNB for disaster relief efforts in Thailand and Myanmar. This initiative aims to support communities affected by recent calamities, showcasing a proactive approach to humanitarian aid through cryptocurrency.
Copper prices are expected to "collapse" as a rush to ship the metal to the US ahead of impending tariffs concludes. BNP Paribas forecasts prices will drop to $8,500 a ton by the end of Q2 2025, citing a significant surplus as US trade policies dampen demand. The firm has revised its copper consumption growth estimate down to 2.3% for the year, reflecting concerns over reduced global trade and economic growth.
MMR
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