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APAC Edition
1st August 2025
 
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THE HOT STORY

Taiwan's chip industry faces worker crisis

Taiwan's semiconductor industry was grappling with a labour shortage of 34,000 workers as of May this year, according to the 2025 Semiconductor Industry Talent Report by the 104 job bank and the Industrial Technology Research Institute (ITRI). The demand for skilled workers is driven by the industry's expansion, particularly in production, quality control, and research and development roles. Job openings in production and quality control surged from 5,600 in October 2023 to approximately 10,000 by May 2025. Jeff Lin, general director of ITRI's Industry, Science and Technology International Strategy Center, noted that Taiwan accounted for 68.8% of the global foundry market in 2024 and produced 83% of the world's AI chips. The report highlights concerns over a talent gap that is being exacerbated by a declining birth rate in Taiwan, which has fallen by about 20% from 2010 to 2024.
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TRAINING & DEVELOPMENT

Four-fifths of Japan's high schoolers interested in wages and labor systems

About 80% of high school students in Japan have shown interest in wage and labour regulations, according to a labour ministry survey involving 3,000 participants. The findings, included in the 2025 white paper on health, labour and welfare, also show strong interest in working hours (79.5%), medical services (63.6%), and pensions (58.3%), with civics classes identified as a key opportunity for improving understanding of social systems. The survey also highlights efforts to promote vocational awareness during school by dispatching employees from Hello Work public job placement offices to universities and high schools.
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ECONOMY

Palm oil producers unite against tariffs

Indonesia and Malaysia are collaborating to combat negative perceptions surrounding palm oil exports and to protect migrant labour as they face potential economic challenges from impending US tariffs. Both nations, which produce approximately 85% of the world's palm oil, are seeking to enhance trade relations with existing and new partners to mitigate the impact of these tariffs set to begin on August 1. In a joint statement, Indonesia's President Prabowo Subianto and Malaysia's Prime Minister Anwar Ibrahim affirmed their commitment to "promoting sustainable palm oil and counter negative campaigns against palm oil." The two countries are striving to secure their vital export markets amid growing environmental concerns.
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TECHNOLOGY

Chinese AI companies team up to defy US restrictions

Chinese AI companies have formed two new industry alliances to foster a domestic ecosystem and reduce reliance on foreign technology amid US export restrictions on advanced chipsets. The "Model-Chip Ecosystem Innovation Alliance" aims to connect AI developers and chip manufacturers, while the Shanghai General Chamber of Commerce AI Committee focuses on integrating AI technology with industrial transformation. Notable products showcased at the World Artificial Intelligence Conference included Huawei's advanced AI computing system and various consumer AI devices, highlighting China's push to innovate independently.
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STRATEGY

Google plans $6bn India investment

Google will invest $6bn to build a 1-gigawatt data centre in Visakhapatnam, Andhra Pradesh - its largest in Asia - alongside $2bn in renewable energy infrastructure. This marks Alphabet’s first major data centre project in India, part of a broader regional expansion. Andhra Pradesh IT Minister Nara Lokesh said the state has already secured 1.6 GW in data centre investments and is targeting 6 GW in five years. To support this, the state plans new cable landing stations and up to 10 GW in new power generation, with a focus on green energy.

Apple to close retail store in China for first time

Apple is set to close its first retail store in China, located in the Parkland Mall of Dalian, on August 9th. The decision comes amid a challenging retail environment, with Apple saying: "Given the departure of several retailers at the Parkland Mall, we have made the decision to close our store there". The closure reflects broader economic issues in China, where retail sales growth has been disappointing and home prices are declining. Despite this setback, Apple plans to open a new store in Shenzhen on August 16th and is expanding its presence in other regions, including the US and India. The company is also becoming more selective with its leases, announcing closures in the UK and Australia.
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LEADERSHIP

CEO of China's biggest furniture retailer passes away

The chief executive of China’s biggest home furnishings retailer has passed away, according to a securities filing. Wang Linpeng, chair and chief executive of Wuhan-based Easyhome New Retail Group, died at home on Sunday, the company said, without identifying the cause of his death. In a separate statement, Easyhome announced that Wang was detained by Wuhan city authorities three months ago and was released earlier this month “pending investigation", again without giving further details. 
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INTERNATIONAL

Nissan to close CIVAC plant

Nissan has announced the closure of its CIVAC plant in the Mexican city of Cuernavaca by the end of fiscal year 2025, consolidating all vehicle production to the Aguascalientes Plant. The decision is part of the Re: Nissan recovery plan aimed at enhancing efficiency and competitiveness. Chief executive Ivan Espinosa said: “Today, we have made the difficult but necessary decision, that will allow us to become more efficient, more competitive, and more sustainable.” The company plans to reduce its global production capacity from 3.5m units to 2.5m units while maintaining a plant utilisation rate of around 100%. Nissan has said it is committed to ensuring a respectful transition for affected employees and maintaining its commercial operations in Mexico.

Boeing union members reject contract

Thousands of Boeing union workers at three St. Louis-area plants who build fighter jets plan to strike after rejecting a contract that would pay an average of more than $100,000 per year. Members of the International Association of Machinists (AIM) and Aerospace Workers at Boeing factories in St. Louis and St. Charles in Missouri and Mascoutah in Illinois voted against the new contract that included a 20% wage increase over four years. "The proposal from Boeing Defense fell short of addressing the priorities and sacrifices of the skilled IAM Union workforce," the IAM said. Dan Gillian, Boeing's Air Dominance vice president, general manager and senior St. Louis Site executive, said the company was disappointed employees voted down "the richest contract offer we've ever presented to IAM 837 which addressed all their stated priorities," adding: "We've activated our contingency plan and are focused on preparing for a strike. No talks are scheduled with the union."

Pro-Ukraine hacker group claims Aeroflot cyber-attack

Russia's national airline, Aeroflot, has cancelled dozens of flights after pro-Ukrainian hackers claimed an attack on the carrier's IT systems. A statement from hacking group Silent Crow said it carried out the attack with the help of Belarusian group Cyberpartisans. Silent Crow said on Telegram that its "prolonged and large-scale operation . . . completely destroyed" Aeroflot's IT systems. Aeroflot said it had cancelled more than 40 flights - mostly within Russia but also including routes to Belarus and Armenia. The airline said an issue with its information system had also led to widespread delays. Silent Crow also threatened to release "the personal data of all Russians who have ever flown Aeroflot."

Dubai cracks down on illegal subletting

A Dubai crackdown on illegal subletting - in which a dozen or more migrants live in overcrowded apartments - has left many low-paid workers scrambling for housing. Dubai has witnessed a boom since the pandemic as more people move to the commercial hub from overseas. Much of Dubai’s real estate market caters to wealthy foreign professionals living there long-term, leaving few affordable options for migrants on temporary, low-wage contracts who often earn just several hundred dollars a month.
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OTHER

Vietnam weighs property transfer tax overhaul

Vietnam's Ministry of Finance has proposed an overhaul of personal income tax on real estate transactions, replacing the current flat 2% levy with a tiered system. The new rule would impose a 20% tax on net profits or 10% on properties sold within two years. The ministry argues this change is essential to close tax loopholes and reduce speculation, saying: "The new model better reflects true earnings." However, industry experts including Huynh Thi Huong Giang from Savills warn that the shift could dampen market liquidity and inflate prices for genuine buyers. The proposal is currently open for public consultation and is expected to be reviewed by the National Assembly in October. Concerns about the timing of the new tax rules arise as Vietnam's real estate market is still recovering from a slump.
 
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