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APAC Edition
24th July 2025
 
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THE HOT STORY

Growth reported in India's private sector amid inflation and job worries

India's private sector demonstrated strong growth in July, driven by robust manufacturing and international demand, although rising inflation and concerns over job creation tempered this expansion. The HSBC Flash India Composite Purchasing Managers' Index recorded a reading of 60.7, indicating sustained growth, but business confidence fell to its lowest level in over two years due to price pressures and uncertainty surrounding US trade negotiations. Despite the positive performance, there are signs of caution, with employment growth slowing and inflationary pressures increasing as firms reported higher costs for materials.
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TECHNOLOGY

OpenAI CEO warns of AI ‘fraud crisis’

OpenAI chief executive Sam Altman has warned of a "significant impending fraud crisis" in the financial sector due to AI's ability to mimic human voices. He expressed concern over outdated authentication methods, saying: “A thing that terrifies me is apparently there are still some financial institutions that will accept a voice print as authentication for you to move a lot of money or do something else - you say a challenge phrase, and they just do it . . . That is a crazy thing to still be doing . . .  AI has fully defeated most of the ways that people authenticate currently, other than passwords.” Altman said that AI-generated voice clones are becoming "indistinguishable from reality," and called for new verification systems.

 
CNN
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RISK

Central banks 'risk being blindsided by climate-driven shocks to global labour markets'

A report published by the London School of Economics tells central banks to prepare for climate-driven shocks to global labour markets. The report says that climate change would lower labour productivity - particularly in agriculture, construction and other sectors exposed to heat - even under relatively optimistic scenarios in which global warming is limited to 1.5-2 degrees. The report by the Centre for Economic Transition Expertise (CETEx) calls on monetary authorities to pay greater heed to environmental risks including natural disasters and the consequences of the green transition. "Our research shows that central banks should seek to integrate environmental employment risks into their policies and operations," said Joe Feyertag, senior policy fellow at CETEx and author of the report.
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LEGAL

UN court opens door for climate lawsuits

The International Court of Justice, the world’s highest court, has found states could be legally pursued for failing to act on the “urgent and existential threat” of climate change. The decision, while non-binding, is expected to have far-reaching implications, especially for nations vulnerable to climate impacts. The ruling challenges developed nations' claims that existing agreements, like the 2015 Paris Agreement, are sufficient, asserting that broader international law mandates environmental protection. Campaigners and climate lawyers hope the decision will now pave the way for compensation from countries that have historically burned the most fossil fuels and are therefore the most responsible for global warming. UN Secretary-General Antonio Guterres hailed the opinion, saying: "This is a victory for our planet [and] for climate justice . . . The world must respond."
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STRATEGY

Taiwan announces large-scale AI investment

Taiwan has announced its "Ten Major AI Infrastructure Projects" initiative, aiming to generate over T$15tn (approximately $510bn) in economic value by 2040, as it seeks to establish itself as a global leader in artificial intelligence. The initiative will focus on strategic technologies such as silicon photonics, quantum technology, and AI robotics, with plans to create 500,000 jobs and attract significant investment in AI innovation.
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CYBERSECURITY

China denies cyberattack allegations

The Chinese embassy in Singapore has dismissed allegations linking it to the espionage group UNC3886, accused of cyberattacks on Singapore's critical infrastructure. In a Facebook post, the embassy described the claims as "groundless smears and accusations," asserting that "China is firmly against and cracks down all forms of cyberattacks." While a Singapore minister noted that UNC3886 targets vital infrastructure, he did not directly associate the group with China. However, cybersecurity firm Mandiant has identified UNC3886 as a "China-nexus espionage group" involved in attacks on defence and technology sectors in the US and Asia. Singapore's critical infrastructure encompasses energy, water, banking, and healthcare, among others.

Clorox hackers got passwords simply by asking, lawsuit claims

Clorox is suing information technology provider Cognizant in the US, claiming that hackers executed an August 2023 cyberattack simply by asking the tech firm’s staff for employee passwords. The bleach maker was one of several major companies hit by the hacking group known as Scattered Spider, which specializes in tricking IT help desks into handing over credentials. “Cognizant was not duped by any elaborate ploy or sophisticated hacking techniques,” said the lawsuit. “The cybercriminal just called the Cognizant Service Desk, asked for credentials to access Clorox’s network, and Cognizant handed the credentials right over.”
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HEALTH & WELLBEING

Just 7,000 steps a day cuts health risks, study says

Walking 7,000 steps a day can be enough to boost your brainpower and help protect against a range of different diseases, according to a new study. It may be a more realistic target than 10,000 steps, which is often seen as the benchmark to reach. The research, published in the Lancet Public Health, found that the figure was linked with a reduced risk of serious health issues, including cancer, dementia and heart disease. The findings could encourage more people to track their steps as a practical way to improve their health, the researchers say. "We have this perception we should be doing 10,000 steps a day," says lead author Dr Melody Ding, "but it's not evidence based." The analysis examined data from more than 160,000 adults across 57 studies.
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INTERNATIONAL

Three jailed for treating champagne workers 'like slaves'

A French court has sentenced three people for human trafficking in the champagne industry. Victims say they were treated "like slaves," being forced to endure 13-hour shifts and housed in an abandoned building without food or water. The court's decision was hailed as "historic" by Maxime Cessieux, attorney for the victims, who said that the upcoming 2025 harvest will be "closely scrutinised." The director of Anavim, a servicing company, received a two-year prison sentence, while the two other defendants were given one-year sentences. The court also imposed a €75,000 fine on a wine-making cooperative associated with Anavim. The CGT champagne trade union has called for harsher penalties, and demanded the downgrading of the harvest in the affected areas.

Department of Commerce employee subjected to China exit ban

The U.S. State Department has said an employee of the U.S. Patent and Trademark Office who was traveling to China in a personal capacity was subjected to an exit ban. "We can confirm that a U.S. Patent and Trademark Office employee, while travelling to China in a personal capacity, was made subject to an exit ban in China. We are tracking this case very closely and are engaged with Chinese officials to resolve the situation as quickly as possible," a State Department spokesperson said. The U.S. Patent and Trademark Office is part of the federal Department of Commerce.

Oman sees fall in expat workers from some Asian countries

Oman is experiencing a decline in its expatriate workforce, particularly from Bangladesh and the subcontinent, according to the National Centre for Statistics and Information (NCSI). The number of Bangladeshi workers fell by 637,152 to 621,048 in June 2025 compared to the previous year. Similarly, Sri Lankan expatriates decreased from 24,156 to 22,440, while Pakistani workers dropped from 317,296 to 312,105. In contrast, the number of Indian expatriates saw a slight increase from 506,630 to 508,386. The decline is attributed to a visa ban on Bangladeshi nationals effective from October 2023, which allows only specific categories such as professionals and high-income tourists.
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OTHER

Melbourne to host world's largest Cadbury chocolate distribution centre

Mondelēz International is to open a A$130m ($85.56m) chocolate distribution centre in Truganina, in Melbourne's west. The facility, at 47,000 square metres, is twice the size of the MCG, making it the company's largest in the world. The firm said that by centralising operations in the new facility it will be more efficient, and also take 2,700 trucks off roads each year.
 
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