What's in this episode:

• TOP BIT: The End of One-Euro Parcels from China
  • The EU plans to scrap duty exemptions for low-value imports (under €150) by 2026, two years earlier than planned, due to surging volumes from China.
  • An additional 2-euro admin fee per parcel is planned.
  • 4.6 billion low-value parcels entered the EU in 2024, 91% from China (Temu, Shein), shipped on 35 daily cargo flights.
  • China’s tax office is also cracking down, with retroactive 13% tax claims on previously under-declared sales.
• NUMBER OF THE DAY: $80 Million
  • The amount Vietnamese app developers earned abroad in 2024.
  • Vietnam is an "app powerhouse" with over 6 billion downloads (5.7B from overseas); 12,000 apps installed per minute globally.
  • AI is a key growth engine, cutting development time by up to 40%.
• MARKET BIT: Grab + GoTo Mega-Monopoly Merger
  • Grab and GoTo are negotiating a $29 billion merger in Indonesia, ending costly market-share battles.
  • The Indonesian government is backing the deal, potentially with a "golden share" for its sovereign wealth fund.
  • Monopoly concerns are high, as the merged entity would control over 90% of Indonesia's ride-hailing and delivery market.
  • Regulatory scrutiny focuses on pricing, data dominance, and impact on drivers and smaller rivals.
• STARTUP OF THE WEEK: Foodie Media
  • Founded by Nicholas Lim from a chicken rice blog in 2016, it's now a major Southeast Asian food media company going public.
  • 46 million followers across platforms, $64.5 million USD valuation, with an IPO planned for Nov 28 aiming to raise $18 million USD.
  • Investing in AI tools for video translation and lip-syncing for global reach.
• Partner Highlights:
  • Germany excludes Huawei from future 6G networks, replacing existing components for digital sovereignty.
  • Thailand scraps afternoon alcohol ban (2-5 p.m.) in a pilot scheme to boost tourism.
  • LG & Mercedes-Benz plan deep collaboration on EV batteries, SDV software, and displays.
• Country Reads: Updates from New Delhi (terrorist attack), Malaysia (smart-factory initiative), and Hong Kong (phone scam).

For more, subscribe to our newsletter at asiabits.com