Trudeu Resigns, OJK Reforms Paylater Access, US Tech Leaders Deploy US$500 Billion for AI Innovation, DeepSeek’s AI Breakthrough Puts China at the Forefront of the Global Tech Race
By Fayza Nawra Avanitanya, Muthia Noor Safitri, Kenzie Aryasatya, Imam Fakhri Prayogo Harianto
January 31, 2025 at 16:30 GMT+By7
Canadian Prime Minister Justin Trudeau speaks at Rideau Cottage in Ottawa on January 6 | Source: Reuters
Justin Trudeau announced his resignation as Prime Minister of Canada, citing internal party conflicts and declining popularity. He confirmed that he would remain in office until a new leader is selected. His leadership saw significant achievements, including the Canada Child Benefit and promoting gender equality but his leadership was overshadowed by scandals, economic struggles, and public dissatisfaction. The Liberal Party, governing as a minority since 2019, now faces uncertainty after losing crucial support. With the Conservatives leading in polls and opposition leaders demanding an early election, the Liberals must regain public trust through a leadership contest before the next federal election.
OJK Logo | Source: Kompas
The Financial Services Authority (OJK) will enforce stricter paylater regulations starting January 1, 2027, requiring users to have a minimum monthly income of Rp3 million and be at least 18 years old or married. These measures aim to promote responsible borrowing, enhance consumer protection, and mitigate financial illiteracy risks. Paylater providers must educate users and integrate financial records into the Financial Information Services System (SLIK). As of November 2024, Indonesia’s paylater debt reached Rp30.36 trillion, with rising non-performing financing (NPF), highlighting the need for stronger oversight and risk management to ensure the industry’s long-term stability and sustainability.
On Donald Trump's first full day in office, Oracle founder Larry Ellison joined OpenAI's Sam Altman and SoftBank's Masayoshi Son for a notable visit to the White House | Source: WFAA
President Donald Trump, OpenAI, SoftBank, and Oracle launched "Stargate," a groundbreaking US$500 billion project to secure U.S. dominance in artificial intelligence. The venture's initial phase comprises 10 state-of-the-art data centers in Texas that generate more than 100,000 jobs and power economic expansion. Business leaders such as Sam Altman and Masayoshi Son cite AI's revolutionary potential in medicine, energy, and global issues. Through deregulation and federal support, Stargate will transform AI infrastructure with huge investment and enhanced national security. In so doing, the U.S. emerges as the world's frontrunner in AI innovation and ethical technology development.
Deepseek photo illustration | Source: Getty Images
DeepSeek’s AI Breakthrough Puts China at the Forefront of the Global Tech Race
DeepSeek, a Chinese AI startup, has disrupted the U.S. technology sector by developing its base model, R1, with just US$5.6 million in computing power—a fraction of the billions spent by companies like Meta and OpenAI. This breakthrough triggered a sharp market decline on Monday, January 27, with significant losses among Nasdaq-listed tech stocks, including Nvidia. The impact extended beyond the technology sector, as energy stocks, Bitcoin, and other cryptocurrencies also suffered substantial declines, highlighting the broader market uncertainty caused by DeepSeek’s cost-efficient AI advancement.
Sources:
CNBC
CNN
Bloomberg
Reuters
Comments