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APAC Edition
2nd May 2025
 
THE HOT STORY
Almost all Indian employers 'prioritise GenAI skills over experience'
According to Coursera's Micro-Credentials Impact Report 2025, 99% of Indian employers are shifting towards skills-based hiring, prioritising micro-credentials, particularly in Generative AI (GenAI), over traditional qualifications. The report highlights that 95% of employers are more inclined to hire candidates with a GenAI micro-credential, as they demonstrate superior on-the-job performance. This trend is also reflected in the willingness of 97% of employers to offer higher starting salaries to micro-credential holders. Indian universities are responding by integrating credit-bearing micro-credentials into their programmes, aligning with the National Credit Framework. Dr Ashok Bakthavathsalam, chair and managing director of KGiSL Group, emphasised that these credentials prepare students for real-world careers. Prashasti Rastogi, Director of Coursera for Campus and Government, India, said: “Micro-credentials have emerged as a powerful tool to prepare students for the workplace.” As India aims to become a global talent hub, micro-credentials are seen as essential in bridging the gap between education and employability.
WORKFORCE
Singapore's workers 'must seize opportunities in crisis'
At the annual May Day Rally, Singaporean Prime Minister Lawrence Wong highlighted the importance of seizing opportunities during crises. He said: “Even in the darkest of storms, there are rays of light – new opportunities for those who are prepared.” Wong emphasised the need for experience and skill to navigate the changing global landscape, particularly amid rising trade tensions and economic uncertainties. He noted that the government and the National Trades Union Congress (NTUC) are working together to support workers and strengthen Singapore's position. Wong also addressed the importance of maintaining strong relationships with global partners, observing: “These relationships take time to build. You can't build this overnight.” He called on voters to judge his team fairly in the upcoming election, assuring that the People's Action Party (PAP) will continue to support the labour movement regardless of the outcome.
CYBERSECURITY
Cybercriminals target Australia's biggest banks
Cybercriminals have compromised nearly 100 staff logins from employees at Australia's major banks, raising concerns about potential data theft and ransomware attacks. The stolen credentials, taken between 2021 and April 2025 using infostealer malware, could allow hackers to gain "initial access" to the banks' systems. Although the banks have security measures in place, the threat remains, as the malware has led to a 200-fold increase in infections globally since 2018. The Australian Signals Directorate has warned that such breaches can have dire consequences for businesses, and highlighted the need for robust cybersecurity measures.
TECHNOLOGY
Microsoft envisions future of AI leadership
Microsoft has predicted a transformative shift in the workplace with the emergence of so-called "frontier firms" where human workers will manage artificial intelligence (AI) agents to enhance productivity. Jared Spataro, a Microsoft executive, said: "As agents increasingly join the workforce, we'll see the rise of the agent boss." This evolution is expected to occur in three phases: the introduction of AI assistants, AI agents as digital colleagues, and ultimately, humans directing these agents in various workflows. Microsoft anticipates that within five years, organisations will adopt this model, which promises rapid scaling and agility. However, the rise of AI also raises concerns about job displacement, with the International AI Safety report warning that "many people could lose their current jobs" as AI capabilities advance.
CORPORATE
Tesla chair denies CEO replacement claim
Tesla's board chair, Robyn Denholm, has refuted a Wall Street Journal report claiming that the board sought executive search firms to find a replacement for chief executive Elon Musk, saying that the report is "absolutely false." Denholm expressed the board's confidence in Musk's leadership, especially as he plans to dedicate more time to Tesla amid concerns over declining sales and his involvement in the Trump administration. The board is reportedly considering adding an independent director after some investors raised concerns about the board's independence and Musk's influence.
ECONOMY
China's wealthy are hoarding cash
China's high-net-worth investors prioritised safety last year amid a period of economic turbulence, according to a poll by data and analytics firm GlobalData which found that more than a quarter (27%) of high-net-worth Chinese investors placed their wealth in low-risk assets including cash, near-cash products and bonds in 2024. Such a cautious stance “opens the door for private wealth managers to guide clients towards undervalued investments”, GlobalData observed, adding “The escalation of the trade war with the United States . . . poses the single most significant threat to the Chinese economy in the near term.” Poornima Chinta, a banking and payments analyst at GlobalData, said: “This has had a significant impact on the Chinese investor psyche and led to an overallocation to safe-haven products.”
INTERNATIONAL
UAE businesses are cutting meetings to boost productivity
Writing for Gulfnews.com, Zainab Husain takes a look at how several UAE-based companies are now rethinking how meetings are conducted and whether they are even needed at all. For example, Dubai-based athleisure brand The Giving Movement has begun reducing what it deems unnecessary meetings. In a recent LinkedIn post, the company's Chief People and Culture Officer, Sabahatt Habib, shared how the brand is shifting its culture on meetings. “Honestly, we implemented this because we were drowning in meetings. Most of the day was spent jumping from one meeting to the next, and only afterwards could we catch up on the actual work. It was draining, mentally and creatively. We had so many great ideas, but no time to bring them to life. So we said, enough. It's time to take our time back. The reaction from the team was pure relief. Everyone was feeling the meeting fatigue, and this gave us space to breathe again,” Habib told Gulfnews.com.
London lacks office space, BlackRock chief says
Larry Fink, chair and chief executive of investment manager BlackRock, has expressed frustration over the lack of available office space in London for his growing workforce of over 3,000 employees. He said: "I am so short of space here in London with all our acquisitions. I need an office tomorrow, but there is nothing here." Experts say the shortage of prime office space is hindering London's competitiveness against other financial hubs like New York and Paris. Despite a trend towards remote work, demand for modern, eco-friendly offices remains high, with "prime" rents in the City rising by 9.1% over the past year. CBRE reports that 46% of central London office space under development or refurbishment has already been leased, exacerbating the supply-demand imbalance. Fink noted that few buildings can accommodate BlackRock's size, with only one building of 500,000 sq ft currently under construction and available in London.
OTHER
Dive into Japan's unique school culture
In a unique cultural experience, tourists can immerse themselves in Japanese school life at "Kimino High School," a mock school event designed for foreign visitors. Participants, like Jason Wu, pay approximately ¥35,000 ($245) to don traditional uniforms and engage in activities such as calligraphy, gym class, and earthquake drills. Wu noted: "This is like the only experience that you can do to have some semblance of the Japanese high school life." The initiative, organised by Undokai, aims to attract tourists to rural areas and combat overtourism in major cities. With Japan's declining student population leading to school closures, this innovative approach could serve as a model for revitalising local communities.
 


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