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APAC Edition
29th August 2025
 
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THE HOT STORY

ANZ staff accidentally learn of job cuts

Australian bank ANZ is offering psychological counselling to senior bankers who received an email sent in error instructing them to return their computers, ahead of news of their firing. The bank, one of Australia's largest lenders, has apologised to staff after mistakenly sending the automated emails about redundancies before informing employees. The bank's acting head of retail, Bruce Rush, acknowledged the error during a call with senior managers. The emails prompted confusion among employees, with many seeking clarification from Ganesh Chandrasekkar, ANZ's general manager for talent and culture. Chandrasekkar confirmed that those who received the emails would be let go. Rush expressed his regret, saying: "It was not our intention to share such sensitive news with you in this way." ANZ is undergoing a major restructure under new chief executive Nuno Matos.
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WORKPLACE

The 2025 Best Workplaces in Asia List is announced

Great Place To Work has announced the 2025 Best Workplaces in Asia List. The global authority on workplace culture has drawn from confidential survey data representing over 3.2m employee voices and 7.5m workplace experiences. This year's list highlights organisations that are leading the way in trust, innovation, values, and leadership. A total of 915 national rankings across 16 Asian countries are featured, showcasing the diverse and high-performing workplaces across the region. The ranking also highlights companies excelling at creating a where every employee, regardless of role or background, feels included and valued. Compared to the typical workplace in Asia , employees at the 2025 Best Workplaces in Asia are far more likely to describe their experience as positive and supportive.
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WORKFORCE

More companies in Singapore set to freeze wages

A Singapore Business Federation (SBF) survey reveals a growing trend of wage freezes among local companies, with 41% planning to halt salary increases, up from 35% last year. Business confidence has declined, with only 33% satisfied with the economy. Smaller firms are leading the freeze trend, while larger companies remain more optimistic about wage increases. Despite this, 66% of businesses still plan to raise lower-wage workers' salaries. SBF observed: "Rising manpower costs remain the top workforce challenge."
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LEGAL

India and Singapore work together to establish dispute resolution standards

India and Singapore are collaborating to establish global standards for dispute resolution, focusing on fair, transparent, and efficient processes. Minister of State for Law and Justice, Arjun Ram Meghwal, highlighted recent reforms in India's arbitration laws and the creation of the India International Arbitration Centre, which aim to enhance investor confidence and streamline arbitration. The partnership is seen as a significant step towards strengthening legal and economic ties between the two nations, promoting a robust framework for resolving disputes in the Asia-Pacific region.
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STRATEGY

Suzuki move in India

Suzuki will invest INR 700bn (US$8.3bn) in India over the next five to six years, establishing the country as its global electric vehicle (EV) production hub. The investment coincides with Maruti Suzuki's launch of its first EV, the eVitara, at its Gujarat facility. The company aims to export the eVitara to over 100 countries. Suzuki's commitment to the Indian market reflects its strategy to enhance its presence in the growing EV sector. A company spokesperson observed: "This investment marks a significant step in our global EV strategy."
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TRAINING & DEVELOPMENT

Citi interns explore fintech in Shenzhen

Citi Hong Kong recently partnered with the FinTech Association of Hong Kong (FTAHK) and Shenzhen FinTech Association (SZFTA) to organise a specialised field trip to Shenzhen for its Wealth Summer Interns, providing participants with exposure to the dynamic and rapidly evolving fintech landscape in the Greater Bay Area (GBA). The initiative specifically aims to equip the future changemakers in wealth with critical insights into technological advancements shaping the industry. During the trip, the Wealth Summer Interns visited leading technology and professional services companies, including Tencent Cloud, Archforce Technology and Accenture Shenzhen Innovation Hub.
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CORPORATE GOVERNANCE

Qantas faces scrutiny over executive bonuses

Qantas is under pressure from major superannuation investors regarding executive bonuses following a Federal Court ruling that penalised the airline $90m for illegally sacking 1,800 workers during the pandemic. The Australian Council of Superannuation Investors is monitoring how the board considers these penalties in its bonus decisions. Ed John, the council's executive manager, said: "Investors want to see how the board has assessed the performance of the current management team." Qantas chairman John Mullen defended chief executive Vanessa Hudson, saying she has made significant cultural changes within the airline.
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INTERNATIONAL

AI makes it harder for aspiring entry-level coders

According to a study by Stanford University, entry-level employment in the US has dropped by 13% in fields most affected by artificial intelligence, such as software development and customer service. The research, co-authored by economist Erik Brynjolfsson and researchers at Stanford's Digital Economy Lab, highlights that while entry-level positions are declining, employment trends for experienced workers in these fields have either remained stable or improved. The study indicates that "drops in employment are most common for jobs where AI is most likely to automate human work." The findings, based on data from Automatic Data Processing Inc., suggest that the rapid adoption of AI technologies is reshaping the job market, particularly for younger workers aged 22 to 25.

UAE employees say AI allows more time for colleagues

A LinkedIn study reveals that 80% of UAE professionals now use AI, up from 56% last year, making the UAE second globally in AI adoption. Meanwhile, 39% of UAE professionals say AI has freed up more time to engage with colleagues. “UAE professionals are working hard to stay ahead of the curve, often learning AI skills on their own time and dime,” observed Ali Matar, growth markets leader for Europe, Middle East, Africa (EMEA) at LinkedIn. “This rapid shift brings pressure, but it also reflects a real hunger for growth. In moments of change, people naturally turn to their networks — not just for advice, but for reassurance, shared experience, and support that AI can't offer. That human connection is what helps build confidence and momentum as they navigate the new world of work,” he said.

UK bosses call for worker assault law

Business leaders in the UK have urged government ministers to make the assault of any public-facing worker a standalone offence. While the Crime and Policing Bill has proposed making assault of a retail worker a new specific offence, corporate leaders say the legislation should cover all sectors. The Institute of Customer Service says there has been a sharp rise in abusive incidents aimed at employees. The professional body found that 43% of customer-facing workers have experienced customer hostility over the past six months, a 20% rise on the year before, while 37% are considering leaving their jobs due to aggressive customer behaviour. The institute notes that around 60% of the UK's workforce are in some form of customer-facing role.

Immigration has boosted Europe's economy - Lagarde

Christine Lagarde, president of the European Central Bank, says an increase in foreign-born workers after the pandemic helped Europe bring inflation down without growth slowing too sharply. Speaking at a Federal Reserve economic symposium in the US, she said GDP in Germany "would be around 6% lower than in 2019 without the contribution of foreign workers," while Spain's strong post-pandemic growth "also owes much to the contribution of foreign labour."
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OTHER

Taiwan's nuclear referendum fails, energy crisis looms

Taiwan's recent referendum to restart the Maanshan nuclear power plant failed, with only 22% of eligible voters supporting it. The measure needed a 25% approval threshold but fell short by approximately 650,000 votes. Taiwanese President Lai Ching-te nevertheless reiterated that the door is not closed on a return of nuclear power. "Nuclear power's safety is a scientific issue, and safety cannot be resolved by a single referendum,” he said. "If future technology is safer, has less nuclear waste, and more accepted by society, we will not rule out advanced nuclear energy. ”
 
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