09/12/2025

BIZ & FINANCE TUESDAY | DEC 9, 2025

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Robinhood to enter Indonesia via acquisitions

Only a few carmakers likely to sustain AI push, Gartner says BERLIN: Only a handful of automotive companies are likely to sustain ambitious artificial intelligence investment in the coming years, a study released yesterday showed, raising doubts over whether current industry “euphoria” will deliver lasting benefits. By 2029, just 5% of automakers will maintain strong AI investment growth, down from over 95% today, technology research firm Gartner said in its report on 2026 predictions for the sector. The study found that only carmakers with strong software foundations, tech-savvy leadership and “a consistent very long-term focus on AI” are expected to pull ahead, potentially deepening a competitive AI divide. Volkswagen and other legacy manufacturers, long known for engineering rather than software skills, are battling to catch up with new tech-driven rivals such as Tesla and BYD. Many legacy automakers are trying, but internal obstacles and outdated mindsets hold them back, Gartner analyst Pedro Pacheco told Reuters. Success requires companies to become “digital-first” organisations, eliminating internal obstacles and prioritising technology at the highest levels, including direct reporting lines of software leaders to CEOs, Pacheco said. – Reuters The military government plans to hold multi-phased elections starting on Dec 28, which human rights groups and some Western governments have denounced as an exercise to perpetuate the control of the country’s ruling generals. – Reuters Myanmar economy set for growth rebound: World Bank YANGON: Myanmar’s economy is showing some signs of improvement and its GDP growth is estimated to rebound to 3% in the next fiscal year despite the challenges of continuing conflict and the impact of the devastating March earthquake, the World Bank said yesterday. In a report, the World Bank said, the projected growth is driven by post-earthquake reconstruction and continued targeted assistance for the hardest-hit areas. However, inflation is expected to remain above 20%. “These early signs of recovery are encouraging,” Melinda Good, the World Bank division director for Thailand and Myanmar, said in a statement. “However, Myanmar’s economy continues to face formidable obstacles, including constrained reconstruction financing, ongoing conflict and insecurity, and unreliable electricity supply.” A junta spokesman did not respond to a call from Reuters seeking comment on the report. In June, the bank had projected Myanmar’s economy to contract by 2.5% during the current fiscal year, which ends in March, after a major earthquake in March that impacted more than 17 million people, 31% of the country’s total population. Direct damages to property and infrastructure from the 7.7 magnitude quake were initially estimated at US$11 billion, or 14% of the nation’s gross domestic product, according to the World Bank. Myanmar has been in turmoil since the military seized power in 2021, ousting an elected civilian government led by Nobel laureate Aung San Suu Kyi and triggering nationwide protests that evolved into an armed rebellion against the junta.

joining the benchmark S&P 500 index. The company also announced its entry into prediction markets in March. Shares of the company, which went public in New York in 2021, have gained nearly 268% so far in 2025 – as of Dec 4 close. Meanwhile, Jakarta stocks jumped as much as 1% to a new record, extending a streak of fresh highs logged in the last two weeks and recouping Friday’s losses. Indonesia has unveiled a 16.23 trillion rupiah (RM4 billion) stimulus package this year under new Finance Minister Purbaya Yudhi Sadewa, while liquidity support for state banks and a stronger growth outlook have further bolstered investor sentiment. President Prabowo Subianto also launched Danantara in February, a US$20 billion state fund that is expected to invest heavily domestically. “Hopes are high for Danantara – the country’s new holding company for state owned enterprises (SOEs) – to lead strategic projects, improve efficiency, and catalyse growth,” analysts at DBS wrote in a note. – Reuters

o Commission-free and app-based platform is widely credited with disrupting US retail trading

JAKARTA: Robinhood Markets will acquire Indonesian brokerage firm Buana Capital Sekuritas and licensed digital asset trader Pedagang Aset Kripto, marking the retail trading platform’s entry into one of Southeast Asia’s major crypto hubs, the company said in a blog post on Sunday. Indonesia is among the world’s leading adopters of cryptocurrency, backed by supportive regulation and a tech-savvy young population, making it a prime target for US firms seeking growth in Asia. The country has more than 19 million capital market investors and 17 million cryptocurrency traders, underscoring its appeal for both stock and digital asset trading. “Indonesia represents a fast-growing market for trading, making it an exciting place to further Robinhood’s mission to democratise finance for all,” said Patrick

Chan, head of Asia at Robinhood Markets. Acquiring a brokerage eases a company’s entry into new markets by helping meet regulatory requirements and build presence, while buying a licensed digital asset trader speeds access to crypto products. Robinhood did not disclose financial terms of the deal, which is expected to close in the first half of 2026. Pieter Tanuri, majority owner of both Indonesian firms, will stay on as a strategic adviser to Robinhood, the company said. Robinhood’s commission-free, app-based platform is widely credited with disrupting US retail trading by drawing in a new generation of investors and changing how Americans engage with stock markets. The deal signals a new phase for the retail trading platform, which has gained broader market recognition this year after

Two men watch stock prices at the Indonesia Stock Exchange in Jakarta. – AFPPIC

Nikkei buoyed by stable yen, SoftBank slides TOKYO: Japan’s Nikkei share average edged higher yesterday, supported by a pause in recent yen strength and a rebound in property shares, but was held back by sharp declines for heavyweight stock SoftBank Group. 58 points, with a 1% decline due to its massive weighting. By contrast, the broader Topix gained 0.7% to end the day at 3,384.31.

equities strategist at Nomura Securities. “The underlying trend of falling tech stocks remains intact.” The Nikkei rose to a record high of 52,636.87 in early November before the AI-centered selloff. “The Nikkei feels heavy,” said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management. “For the time being, I expect stocks to trade sideways. A rise from here would come with high risk.” Real estate was among the best performers in the Tokyo Stock Exchange’s 33 industry groups yesterday, rising 3.2%. Banking lost 0.6% to be among the worst performers. – Reuters

SoftBank is a major investor in OpenAI, and media reports over the weekend said the ChatGPT creator’s CEO Sam Altman had issued an internal “code red” alert after Google’s Gemini 3 appeared to outperform it in several metrics. Investors had already turned more cautious in recent weeks on the sky-high valuations for many artificial intelligence-linked shares, spurring a bout of heavy selling last month. “There’s a sense of overheating in high-tech stocks, making them susceptible to selling pressure,” said Fumika Shimizu, an

Although market expectations are building for a Bank of Japan interest rate hike next week, traders are unwinding some of last week’s big moves, which saw the yen gain, property shares decline and bank stocks rally. The Nikkei added 0.2% to 50,581.94, with 177 of its 225 constituents rising versus 48 that fell. However, a 3.3% slide for startup investor SoftBank Group shaved 124 points from the Nikkei’s advance. Uniqlo owner Fast Retailing erased another