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APAC Edition
13th May 2025
 
THE HOT STORY
Workplace accidents in Thailand are targeted
Labour Minister Phiphat Ratchakitprakarn has unveiled the "Safety Thailand" vision during National Occupational Safety Day 2025, in an attempt to significantly reduce workplace accidents and fatalities by 2030. The target is to decrease severe injuries from 2.13 to no more than one per 1,000 workers, and fatalities from 5.3 to a maximum of three per 100,000 workers. Phiphat emphasised that "safety is not just a legal requirement but a fundamental right," as he highlighted the need for safety standards to evolve alongside technological advancements. The minister outlined proactive measures, including strict legal enforcement and public awareness campaigns, while also addressing the importance of preparing for future risks such as machinery-related accidents and natural disasters. He has tasked the Department of Labour Protection and Welfare with enhancing safety measures in road construction projects, particularly along Rama II Road.
HIRING
Singapore's carbon services sector faces talent crunch
Singapore's carbon services sector is expanding, driven by new initiatives and research, yet faces a significant talent shortage that could impede its long-term growth. The sector, identified as a growth engine by Singapore's government in 2021, has seen the number of firms double to over 150. However, Tommy Ricketts, chief executive of BeZero Carbon, highlighted the challenge of finding qualified candidates, observing: “Talent doesn't come off the shelf.” The Economic Development Board and Enterprise Singapore have said that the urgent need to combat climate change will continue to create opportunities in the sector, despite the talent gap.
STRATEGY
Panasonic to cut 10,000 jobs
Panasonic is to cut 10,000 staff and book restructuring costs of ¥130bn ($896m) this business year, as part of an overhaul of the company. The cuts will come through consolidation of sales and indirect operations as well as sites, business terminations and employees in Japan taking early retirement. The company's restructuring aims to improve group profitability and seeks to achieve a return on equity - a measure of profitability - of 10% by the fiscal year ending in March 2029.
LEGAL
AI copyright clash in India
Top Indian news outlets and book publishers are challenging OpenAI, claiming the company used their content without permission to train its ChatGPT chatbot. The case could potentially transform the operational landscape for media in India. The Indian government has established a panel to assess whether current copyright laws are adequate to address AI-related disputes. The panel, comprising eight experts, will "identify and analyse the legal and policy issues arising from the use of artificial intelligence in the context of copyright." OpenAI maintains that it uses public data for training and offers an opt-out for websites wishing to exclude their data.
CYBERSECURITY
Ransomware group Lockbit hit by hack
The notorious ransomware group Lockbit has reportedly experienced a breach of its own, as indicated by a rogue post on one of its darkweb sites. The message, stating "Don't do crime CRIME IS BAD xoxo from Prague," included a link to what appears to be a cache of leaked data. Christiaan Beek, senior director of threat analytics at Rapid7, said that "The leaked information looks real." He highlighted the aggressive tactics Lockbit employs to extract even small payouts from victims. Some darkweb sites linked to Lockbit were found to be inoperative, suggesting potential disruptions in their operations. Lockbit, often referred to as "the Walmart of ransomware groups," has previously survived significant law enforcement actions, demonstrating its resilience in the cybercrime landscape.
Microsoft 'does not allow its staff to use China's Deepseek'
During a Senate hearing on the artificial intelligence (AI) race with China, Microsoft President Brad Smith said that the US tech giant prohibits its employees from using the Deepseek AI application, which has been developed by a Chinese start-up. He cited concerns over data security and the potential for the app to disseminate Chinese propaganda. Microsoft also does not offer Deepseek's application in its app store due to these risks, Smith said.
ECONOMY
US and China agree to lower tariffs
The US and China will temporarily lower tariffs on each other’s products, according to a joint statement, in a move to cool trade tensions and give the world’s two largest economies 90 days to resolve their differences. Under the agreement, the United States would reduce the tariff on Chinese imports to 30% from its current 145%, while China would lower its import duty on American goods to 10% from 125%. The two nations also agreed to establish “a mechanism to continue discussions about economic and trade relations,” led by Chinese Vice Premier He Lifeng and US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer. “These discussions may be conducted alternately in China and the United States, or a third country upon agreement of the Parties. As required, the two sides may conduct working-level consultations on relevant economic and trade issues”, a statement added.
China's infrastructure investment on the rise
China's infrastructure investment is projected to increase as the nation seeks to stabilise domestic demand amidst global trade tensions. Long Chaocan, an investment consultant with China Galaxy Securities, said: "China has adequate tools to enhance the driving force of investment." The National Bureau of Statistics reported a 5.8% year-on-year rise in infrastructure investment during the first quarter. Major projects are progressing well, with significant contributions from local governments, such as Chengdu, which saw a 5.9% growth in million-yuan projects. The investment is seen as crucial for securing industry chains, boosting employment, and accelerating urbanisation. 
INTERNATIONAL
UK's Starmer unveils 'tighter' immigration policy
UK Prime Minister Sir Keir Starmer has outlined plans to "tighten up" the country's immigration system, promising migration numbers will fall "significantly." The proposed changes include English tests for all visa applicants and their adult dependants, as well as a longer route to settled status.  Starmer also said he wants to cut recruitment of overseas care workers. He said nations depend on rules that set out rights, responsibilities and obligations, and that without them Britain risked "becoming an island of strangers."
Investors sue UnitedHealth over response to exec's killing
UnitedHealth is being sued by investors over its response to the December killing of top executive Brian Thompson. They claim UnitedHealth misled them by allegedly withholding information on how the company was being affected by a backlash prompted by its response to the incident. In the proposed class action lawsuit filed in the Southern District of New York, investor Roberto Faller alleges UnitedHealth "artificially inflated prices" when it initially forecast earnings per share of $29.50 to $30 in December.  That outlook was reaffirmed by the company in January, despite growing criticism following an October Senate report on its high rate of claim denials and, later, Thompson's killing.
Mali convoy attack raises alarm
A convoy transporting heavy mining equipment from Bamako to Allied Gold's Sadiola mine has been attacked in the Kayes region of Mali. The attack highlights the growing security risks for mining companies in the Sahel, where Islamist militant groups pose significant threats. Although attacks on mining equipment have been rare, the incident involved the destruction of two trucks and the theft of two pick-up trucks. No injuries were reported among the eight employees present. The chief executive of mining company Fortuna noted that "increased security concerns due to jihadist threats" influenced its decision to exit neighbouring Burkina Faso. Mali remains a major gold producer, with several mining companies operating in the region despite ongoing insecurity.
Agreement reached on Thyssenkrupp steel unit restructuring
Thyssenkrupp Steel says it has reached an agreement in principle with the IG Metall union around a planned restructuring in a bid to avoid forced layoffs. Germany's largest steel maker said the agreement, which follows an announcement by the company that up to 11,000 jobs had to be cut or outsourced, paves the way for deeper talks with the union that are expected to result in a new collective wage agreement by the summer.
 


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