Today’s roundup brings a mix of economic and cultural news from Southeast Asia, beginning with a spotlight on the fashion industry. An online sale of Abaya dresses in Divisoria, according to a report from Partizan-Online, is attracting attention. The sale includes a variety of modest Abaya dresses from Etsy Australia, and Muslimah dresses from Indonesian suppliers on Alibaba. Shoppers can also find elegant Sukob Muslima dresses from Divisoria Baclaran on Facebook, and Arabic Dubai Abaya Kaftan style prom dresses. This trend suggests an increasing demand for modest wear in the region.

Turning to the tech industry, an important development in Indonesia’s technology market has been announced. According to One News Page and a Dow Jones Newswires report on Trading View, Indonesia is set to lift its ban on iPhones. This comes after Apple reached an investment agreement with the country, potentially clearing the way for the sale of iPhone 16 handsets in Southeast Asia’s largest economy. Despite protracted negotiations, Apple’s agreement with Indonesia could have significant implications for the tech giant’s presence in the region, and may influence other foreign tech companies’ investment strategies.

Meanwhile, there has been a notable fall in petrol and diesel prices in Bhubaneswar, per a report from Kalinga TV. This development follows a wider trend of fluctuating fuel rates across various cities, and is something to keep an eye on for those observing the energy markets.

Finally, we turn to the venture capital (VC) landscape in Southeast Asia. According to Deal Street Asia, VC fundraising in this region hit a four-year low in 2024. This trend was due to persistent headwinds, cautious limited partners, and prolonged fundraising cycles. The situation was further complicated by a recent probe into allegations of financial irregularities at the Indonesian aquaculture startup, eFishery. Regional VC firms only secured nine final closes in the second half of 2024, raising a combined $915 million. This downturn in VC fundraising signals potential challenges for startups in the region, and could influence investor behavior in the coming months.