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APAC Edition
22nd November 2024
 
THE HOT STORY
India's clean energy plans hit by skills shortage
India's solar industry is being hobbled by a combination of inadequate government funding and a skills shortage, potentially jeopardising clean energy targets. Industry leaders say that these and other obstacles are increasing costs and delaying projects, threatening India's ability to reduce its carbon footprint and meet international climate commitments. Dwipen Boruah, managing director of renewables consultancy firm GSES India, said a shortage of skilled manpower is a major problem. "Hundreds of private institutes exploit [education and training] subsidies but offer subpar training," he explained, adding that subsidies which often amount to just a few thousand rupees per student hinder effective education.
WORKFORCE
Civil war economy hits Myanmar garment workers
Civil war has severely impacted the economy in Myanmar, and it has particularly affected garment workers like Wai Wai, who earns just over $3 a day while working for international brands such as Adidas and H&M. Despite the local garment industry generating significant export earnings, workers face rising costs and deteriorating living conditions. The situation is compounded by the junta's crackdown on workers' rights. This month, Swiss-based union federation IndustriALL Global Union said the junta had banned unions and arrested union leaders. "There are widespread, comprehensive reports on the extensive violations of workers' rights," IndustriALL general secretary Atle Hoie said.
Indian workers boost Japan's economy
The influx of Indian technical trainees and specified skilled workers to Japan has significantly increased in recent years. The Indian unit of Arms, the first-ever Japanese organisation to dispatch Indian technical trainees to Japan, sent about 340 such trainees in and after 2019. "Indian workers are highly educated and can quickly learn Japanese," said Nagatoshi Shibata, vice president of the unit. "Among firms that accept Indian workers, 90% are repeat clients," Shibata continued, adding "India is becoming powerful internationally, and the number of Japanese companies accepting human resources from the nation will likely rise."
LEGAL
Gender pay gap narrows slightly in Australia
Australia's gender pay gap has narrowed marginally, according to a report from the government's Workplace Gender Equality Agency (WGEA). The total gender pay gap dipped by 0.6 percentage points to 21.8% for the year to March 2024 as more than half of employers improved the pay gap between men and women doing the same job. Women employees on average still earned A$28,425 ($18,590) less each year than their male colleagues, the report said.
HEALTH & WELLBEING
Chinese company introduces cash incentives to encourage single employees to go on dates
A Chinese company is offering cash bonuses to employees who go on dates, as it seeks to boost employee happiness and create a sense of belonging. Insta360, a camera company based in Shenzhen, will award workers 66 yuan (US$9) for each valid post that introduces a single person outside the organisation on its online dating platform. Employees who successfully match with someone through the platform and maintain a relationship for three months will receive a 1,000 yuan (US$140) bonus, along with their matched partner and the employee who introduced them. As of November 11, nearly 500 posts have been made on the company forum, and nearly 10,000 yuan has been distributed in awards for sharing posts about single individuals. No dating bonuses have been awarded thus far.
CYBERSECURITY
Cyber threats loom over Australia’s critical infrastructure
Australia has said it is concerned that one in 10 cybersecurity incidents last year involved critical infrastructure. The Australian Signals Directorate said in a report this week that over 11% of cyber security incidents last year related to critical infrastructure, including electricity, gas, water, education and transport services. Of these, a quarter were phishing incidents, 21% were exploitation of a public-facing interface, and 15% brute-force activities. "We are worryingly seeing an increased focus by both cyber criminals and state actors on our critical infrastructure," Defence Minister Richard Marles said.
STRATEGY
Apple offers $100m to reverse Indonesia's iPhone 16 ban
Apple has reportedly increased its offer to invest in Indonesia by almost tenfold, in the US tech firm’s latest bid to persuade the government to lift its sales ban on the iPhone 16. The proposal would see Cupertino-based Apple invest almost $100m in Southeast Asia’s largest economy over two years. Apple’s new investment proposal came after the Ministry of Industry last month blocked sales of the iPhone 16 on the grounds the US company’s local unit hasn’t met a 40% domestic content requirement for smartphones and tablets.
INTERNATIONAL
US charges Indian billionaire Gautam Adani with fraud
Indian billionaire Gautam Adani was indicted in New York on Wednesday in connection with what prosecutors called a large-scale bribery scheme that sought to pay hundreds of millions of dollars to Indian officials to secure lucrative government energy supply contracts. “As alleged, the defendants orchestrated an elaborate scheme to bribe Indian government officials to secure contracts worth billions of dollars and . . . lied about the bribery scheme as they sought to raise capital from US and international investors,” US Attorney Breon Peace said in a statement announcing the charges. “My office is committed to rooting out corruption in the international marketplace and protecting investors from those who seek to enrich themselves at the expense of the integrity of our financial markets,” he added. The Adani Group has denied the allegations, calling them "baseless," and adding "All possible legal recourse will be sought."
Ford cuts 4,000 jobs in Europe
Ford plans to eliminate 4,000 positions in Europe by the end of 2027, representing approximately 14% of its regional workforce, and primarily affecting operations in Germany and the UK. The automaker's decision follows a series of setbacks in its transition to electric vehicles. John Lawler, Ford vice chairman and chief financial officer, said: “What we lack in Europe and Germany is an unmistakable, clear policy agenda to advance e-mobility.” The company cut 3,800 jobs last year and is facing increased competition from Chinese manufacturers. Ford's market share in Europe has decreased to 3.3% in the first nine months of the year, down from 4.1% the previous year. Chief executive Jim Farley is urging executives to address the company's cost structure, which he believes presents a significant opportunity for improvement.
Greece general strike brings thousands onto streets
Thousands protested in Athens and other Greek cities on Wednesday during a 24-hour general strike against the escalating cost of living. Approximately 15,000 demonstrators marched in the capital, according to police reports. The Greek General Confederation of Labour (GSEE) described the strike as a "riposte to the government's refusal to take measures to guarantee a decent life for workers." Esther Lynch, secretary general of the European Trade Union Confederation (ETUC), emphasised the need for "urgent action to fight the surge in prices, unaffordable housing and the persistence of low wages." The strike disrupted public services, including transport, schools, and hospitals.
Starling staff revolt over office return
London-based digital challenger bank Starling Bank is facing significant backlash from staff following new chief executive Raman Bhatia's directive requiring employees to work in the office for at least 10 days each month. The policy has led to resignations and complaints about the lack of desk space, and the disruption to work-life balance. With Starling only having around 900 desks available for its 3,231 employees, an internal email acknowledged that the bank “may not be able to accommodate 10 office working days per month for everyone right now.” Mr Bhatia defended the policy, saying that in-person collaboration is vital for creativity and performance.
OTHER
Tokyo Metro to help run London's Elizabeth line
Transport for London (TfL) has announced that GTS Rail Operations Limited, a joint venture involving Go Ahead Group, Tokyo Metro, and Sumitomo Corporation, will operate the Elizabeth Line starting May 2025. This marks Tokyo Metro's first venture outside its home network. The contract spans seven years, with a potential two-year extension. Claire Mann, TfL's chief operating officer, said: "The Elizabeth line has had a transformational impact since opening in 2022."
 


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