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APAC Edition
20th December 2024
 
THE HOT STORY
TCS ramps up hiring plans
Tata Consultancy Services (TCS) is set to increase its hiring of fresh engineering graduates in FY26, surpassing the current target of 40,000. Chief Human Resources Officer Milind Lakkad said: "I expect that number to go up a bit more in FY26," reflecting the company's optimistic growth projections. TCS is also focusing on recruiting experienced professionals in high-growth sectors and investing in training students before graduation. The company is leveraging AI to enhance HR processes, from recruitment to employee support, with tools that refine job descriptions and assess candidates' skills. Lakkad noted that the nature of jobs is evolving rather than decreasing, ensuring a continued demand for talent. TCS's proactive approach includes collaboration with technology vendors and academic institutions to prepare students for the workforce.
HIRING
Labour shortage is dire for Japanese firms
In the first half of this year, 182 Japanese companies went bankrupt due to worker shortages, marking a 66% increase from the previous year. Masato Shiota, president of Wako Seishi, a firm which produces tissues, disinfectant wipes and toilet paper, said: “If we don't have the people we can't make products and we can't turn a profit.” Japan is projected to face a deficit of 3.4m workers by the decade's end, according to the 2023 study by Recruit Works Institute. The government is attempting to address the issue by raising the minimum wage and supporting small businesses, but challenges remain, particularly in attracting foreign workers amid a weakening yen.
HEALTH & SAFETY
Migrant workers' safety at risk in Singapore
Despite an ongoing public outcry, Singapore remains at a stalemate regarding the transport of migrant workers on lorries, following a recent fatal accident that claimed the life of a 40-year-old man and highlighted the dangers faced by workers who are often transported with heavy equipment in unsafe conditions. The incident occurred on International Migrants Day. Goh Chye Guan, a retired workplace safety professional, observed: “This is the situation today: the regulator finds that it is not easily justifiable to impose a total ban [on transportation].” While the government has introduced some safety measures, critics argue that these are insufficient. Kenneth Loo, executive director of Straits Construction Singapore, acknowledged the need for change, saying: “Eventually we will move to ban transporting workers in lorries, it's a question of when.”
WORKFORCE
Power workers threaten strike action
In Chandigarh, the UT Powermen Union continues its demonstration against the power privatisation company, with rallies held across offices. General secretary Gopal Dutt Joshi warned, “If the administration still adopts an adamant attitude, then the employees will boycott work from Jan 1, 2025.” The union criticises the administration for not addressing service conditions and for allegedly accepting illegal conditions from the private company. They demand clarity on issues affecting employees, including transfers and consent regarding employment changes. The administration has imposed the Essential Services Maintenance Act (ESMA) on the UT engineering department, further escalating tensions.
TECHNOLOGY
Alibaba redefines AI team structure
Alibaba has restructured its artificial intelligence (AI) operations by separating the team responsible for its AI chatbot, Tongyi Qianwen, from the large language model (LLM) development team. This strategic move aims to enhance its consumer-facing offerings, with the chatbot team transitioning to the Intelligent Information Platform, which manages products like UC Browser and Quark. Meanwhile, the LLM division, known as Tongyi Lab, will continue under Alibaba Cloud, focusing on fundamental research.
STRATEGY
Chinese firms forge ties with UAE
Chinese companies are increasingly forming partnerships with the United Arab Emirates (UAE), as the Gulf nation emerges as a “superconnector” between East and West. Mohamed Al Marzooqi, CEO of HSBC UAE, explained that the shift is driven by China's significant investments in innovative sectors such as hydrogen, electric vehicles, and solar energy. He observed: “Historically, the relationship with China was very limited, but what we are seeing today is a change from that trend.” In 2023, bilateral trade between China and the UAE reached US$95bn, with trade volumes surpassing US$50bn in the first half of 2024. The UAE aims to diversify its economy and enhance its role as a financial hub, with the Abu Dhabi Global Market signing an agreement with the Beijing Financial Street Service Bureau to strengthen cooperation.
INTERNATIONAL
Employee stabs company president during morning staff meeting
An employee at a Michigan-based manufacturing company has been charged with stabbing the company president in an assault during a morning staff meeting. Police are still investigating the motive behind the attack. According to US media reports, Nathan Mahoney allegedly entered a conference room at Anderson Express on Tuesday and stabbed company president Erik Denslow. Following the assault, Mahoney fled the scene in a vehicle but was apprehended less than an hour later. Authorities are exploring whether the stabbing was inspired by the recent murder of UnitedHealthcare CEO Brian Thompson in New York City. “We haven't ruled out a copycat motive,” Deputy Police Chief Greg Poulson said, adding that police are reviewing Mahoney's social media and electronic records for potential leads.
Amazon to settle UK delivery driver dispute
Amazon is to settle a group claim from delivery drivers, ending a lawsuit that lawyers say could cost the company £140m ($175m). Drivers who deliver for the internet marketplace through its “delivery service partners” (DSPs) are classed as self-employed, meaning they do not have a contract, and are not entitled to benefits such as the minimum wage and holiday pay. A 2021 claim brought by Leigh Day argued that at least 3,000 drivers were entitled to an average of £10,500 (approx. $13,100) in compensation for each year they had worked for the online retailer. The claim was based on the argument that drivers’ working conditions are dictated by Amazon, which means they should have more rights. Drivers have detailed how they have to meet estimated travel times between deliveries, and are also not able to return parcels to the local depot, and have to use extra fuel to redeliver them at the end of each day.
EU delays landmark deforestation law
The European Union is to delay its world-first anti-deforestation law, which will now enter into effect on 30 December 2025 – a year later than originally planned. The law will ban the import of soy, beef, coffee, palm oil and other products linked to the destruction of forests, but Reuters observes that the delay to the landmark policy to address deforestation is a blow to the EU's green agenda, which faces pushback from sectors including automakers and airlines, who say the measures to fight climate change are too onerous. 
No booze for fans at 2034 World Cup
Football fans will not be allowed to consume alcohol in stadiums during the 2034 World Cup in Saudi Arabia. Although Fifa has not publicly addressed the issue of alcohol, sources indicate that beer sales will not be permitted at matches. Alcohol has been banned in Saudi Arabia since 1952, with only one shop in Riyadh selling it under strict controls. Fifa has learned from the 2022 World Cup in Qatar, where beer sales were abruptly cancelled just before the event. Despite the ban, AB InBev has extended its partnership with Fifa until 2026 and is seeking clarity on future plans. Fifa says it has no intention of pressuring the Saudi government to relax its laws.
OTHER
Canon targets China's Gen Z market
Canon is keen to harness the vast potential of China's consumption market, particularly targeting the younger Generation Z demographic. Hideki Ozawa, executive vice-president and chief executive of Canon China, said that the company aims to make Canon China the top sales entity within the group by 2035. With approximately 300m Gen Z consumers eager to use cameras, Canon is developing products that align with their preferences, including youth-oriented mirrorless cameras and bespoke printing solutions. Eiji Hirano, vice-president of Canon China, noted the recovery of China's culture and tourism sectors, highlighting a growing demand among young consumers for unique and shareable photography. The global camera market is experiencing double-digit growth, with China leading the recovery post-pandemic.
 


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