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APAC Edition
11th March 2025
 
THE HOT STORY
Samsung launches major hiring spree
Samsung Group is set to commence its hiring process for the first half of the year across its 16 key subsidiaries, including Samsung Electronics and Samsung Display. The application period will last throughout the week, followed by the Global Samsung Aptitude Test next month for selected candidates. Successful applicants can anticipate interviews in May. The group is also focusing on recruiting experienced professionals and foreign students in science and engineering fields, aiming to create a workplace where "foreign talent can equally develop required skills." Additionally, Samsung is nurturing young talent through its Samsung Software Academy for Youth (SSAFY), which has helped 7,000 graduates secure jobs since 2019. Samsung has also hired 1,600 participants from the K-Skills Competition since 2007.
HEALTH & WELLBEING
L&T introduces menstrual leave policy
Larsen & Toubro (L&T) has introduced a pioneering one-day menstrual leave policy for its 5,000 women employees in the engineering and construction sector. Announced by chairman S N Subrahmanyan during International Women's Day celebrations in Mumbai, this initiative aims to foster a progressive workplace despite concerns about reinforcing gender biases. The policy, which is not applicable to L&T's non-engineering sectors, is part of a broader trend, as several organisations and states in India have begun adopting similar measures. Sonam Chandwani, managing partner at KS Legal and Associates, noted: "While it recognises biological differences and supports workplace inclusivity, it could unintentionally reinforce gender biases." Specific details regarding the policy's implementation are yet to be determined.
TECHNOLOGY
Unitree Robotics sets up a new venture in Shenzhen
Robot maker Unitree, based in the eastern Chinese city of Hangzhou, has established a wholly-owned venture called Shenzhen Tianyi Technology to leverage the supply chain and supportive policies of the southern tech hub of Shenzhen. South China Morning Post notes that Shenzhen has just launched an ambitious plan to build a 100bn yuan (US$13.8bn) humanoid robotics sector by 2027, and aims to cultivate an industry cluster of 1,200 human-shaped robotics-related firms by then.
STRATEGY
Lloyds shifts skilled IT jobs from UK to India
Lloyds Banking Group is hiring hundreds of IT engineers in India, to be based in a tech centre in Hyderabad, while planning to cut hundreds of similar jobs in the UK.
WORKFORCE
Chinese nationals escape Myanmar scam centres
On March 6, hundreds of Chinese nationals were repatriated from Myanmar through Thailand as part of a coordinated effort to clear illegal cyberscam compounds. Thailand aims to repatriate 1,500 workers weekly, with regular flights scheduled for Wednesdays to Fridays. Thai foreign ministry spokesperson Nikorndej Balankura confirmed the repatriation, commenting that “another group of Chinese nationals” was returned, although he did not specify the number. Many of these workers were reportedly lured into scams involving online fraud and faced abuse. Concerns have been raised about the unsanitary conditions in holding camps, with Nikorndej noting, “There are sick people... they need to be repatriated onto the Thai side as early as possible.”
DIVERSITY, EQUITY & INCLUSION
Special Report : Women in Business
A series of Women in Business-themed reports in the FT consider issues including: how women and men share home and work duties, and why having a baby remains a career obstacle.
CORPORATE GOVERNANCE
Artisan Partners challenges Seven & i's CEO choice
Artisan Partners, a US investor in Seven & i Holdings, has expressed opposition to the company's new chief executive, Stephen Dacus, and is urging the board to reconsider a $47bn takeover offer from Alimentation Couche-Tard. In a letter to the board, Artisan said: "We believe engaging with Couche-Tard is essential to maximise shareholder value". The special committee and Dacus previously rejected Couche-Tard's offer of £18.19 per share, which was a significant premium over the current share price. Artisan plans to vote against Dacus and other committee members at the upcoming annual general meeting, highlighting concerns over Vice President Junro Ito's failure to secure financing for a $58bn management buyout. Artisan is advocating for a focus on Seven & i's core convenience store business.
ECONOMY
Singapore retail sales rise 4.5% in January
Retail sales in Singapore jumped 4.5% in January, beating expectations as the Chinese New Year celebrations took place in the same month, according to data from the Department of Statistics. The sharp year on year pick-up for the month was a reverse from the decline of 2.9% in December 2024, and beat the 2.1% increase forecast by economists in a Bloomberg poll. Eight of the 14 categories, including food and alcohol, watches and jewellery, and cosmetics, and also toiletries and medical goods, saw a rise in turnover. Some analysts do however believe the strong numbers at the start of the year are likely to dip in February as the effects of the festive period fade.
INTERNATIONAL
EU court fines five countries for neglect of whistleblower protection
The EU Court of Justice has imposed fines on five countries for not implementing rules to enhance whistleblower protection. Germany faces a fine of €34m, while the Czech Republic and Hungary have been fined €2.3m and €1.75m, respectively. Luxembourg and Estonia received fines of up to €500,000. The 2019 agreement among EU member states mandated the establishment of internal channels for whistleblowers who expose fraud, tax evasion, data breaches and other misdeeds., ensuring they are protected from retaliation, including job loss and legal action.
Boeing needs to change its insular culture, CEO says
Boeing chief executive Kelly Ortberg has said the company needs a more open culture where staff are encouraged to speak up and communicate across divisions, according to a transcript of a meeting seen by Reuters. "We're very insular" and "we don't communicate across boundaries," Ortberg said in the webcast from St. Louis, Missouri, the headquarters of Boeing's defense and space division, adding that the company's teams "don't work with each other as well as we could . . . And the power of the Boeing Company is in us all kind of rowing the boat together." He said cultural change would boost morale, and "the results will show in the marketplace."
OTHER
Online retailers selling 'wealth-enhancing' soil from Chinese banks
In China, a product known as "bank soil" is gaining popularity, with online vendors claiming it can enhance wealth. Priced at up to 888 yuan ($120) per portion, the soil is said to be sourced from outside major banks, including the Bank of China and the Industrial and Commercial Bank of China. A sales representative said that the soil "is believed to enhance wealth and dissolve bad energy, though we cannot scientifically prove this.” Fu Jian, a lawyer, warned that selling the soil under false pretences could be considered fraud, and consumers have the right to request refunds.
 


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