THE HOT STORY

Unions slam new labour codes rollout in India

Ten major Indian trade unions have condemned the government's new labour codes, calling them a “deceptive fraud” against workers. They have demanded the withdrawal of the laws ahead of planned nationwide protests. Prime Minister Narendra Modi's government claims the codes simplify work rules and enhance worker protections. However, unions argue that the changes allow easier hiring and firing, raising concerns about job security. The Association of Indian Entrepreneurs warned that the new rules could increase costs for small businesses.

Gdn Online

STRATEGY

AI threatens entry-level jobs, PwC says

PwC global chairman Mohamed Kande says the growth of artificial intelligence may eventually lead to fewer entry-level graduates being hired, although he said AI was not behind recent job cuts at the firm. In 2021, PwC said it wanted to hire 100,000 people over the course of five years, but Kande said this would no longer be possible. "When we made the plans to hire that many people, the world looked very, very different," he said. "Now we have artificial intelligence. We want to hire, but I don't know if it's going to be the same level of people that we hire - it will be a different set of people." Kande noted that PwC actually needed to hire hundreds of new AI engineers but was struggling to find them.

BBC News

The Guardian

WORKFORCE

Men in their 20s hard hit in Korea's job market

Young men in their 20s in Korea are facing significant employment challenges, exacerbated by job losses linked to AI advancements. According to the Ministry of Data and Statistics, the employment rate for men in this age group is 57.8%, compared to 62.9% for women. The decline in jobs is particularly pronounced in manufacturing and construction. Oh Sam-il, head of the employment research team at the Bank of Korea, observed: "Men in their 20s have taken a heavier hit from the spread of AI."

Korea Joongang Daily

Red Cross to shed 2,900 jobs

The International Committee of the Red Cross (ICRC) has announced a 17% budget cut for 2026 that will result in nearly 3,000 job losses, as dwindling donor funding forces the organisation to make drastic changes. ICRC President Mirjana Spoljaric said: "The financial reality is forcing us to make difficult decisions to ensure we can continue to deliver critical humanitarian assistance." The cuts come amid escalating global conflicts and a significant international aid funding crisis. In light of its shrinking budget, ICRC said it would need to prioritise safeguarding its presence in the most critical conflict zones, including Sudan Israel and the occupied Palestinian territories, Ukraine and the Democratic Republic of Congo.

France 24

Special Report Best Employers: Asia-Pacific

A series of Financial Times special reports considers the companies people most like working for in Asia-Pacific; Korean banks’ perks; and China’s vulnerable factory gig labourers, among other issues.

Financial Times

HEALTH & WELLBEING

Manulife expands mental health support

Manulife Hong Kong is deepening its partnership with charity Mind HK to promote long-term mental health awareness in workplaces and the wider community. The two-year collaboration, launched in May 2024, funds training, public education, and free psychological services. Manulife's Sarah Chapman said the aim is to build lasting support systems, not just run one-off campaigns. This initiative aligns with a broader trend among Hong Kong businesses to address rising mental health challenges through sustained, community-focused engagement.

South China Morning Post

TAX

IMF urges Australia to reform taxes

The International Monetary Fund (IMF) has urged Australia to reform its tax system to address future budget deficits. Key recommendations include increasing the Goods and Services Tax (GST) from 10%, which has remained unchanged since 2000, and reinstating the mining tax abolished in 2014. The IMF said: “An increase in indirect taxation . . . could offset lower corporate and Labor taxes.” Additionally, the IMF suggested cutting costs in the National Disability Insurance Scheme (NDIS) to improve spending efficiency. Australia is facing a A$10bn deficit for 2024-25, with spending at its highest level since 1986.

West Australian

INTERNATIONAL

Right to flexible working urged to resolve three-hour commutes

Ireland's parliament has heard that the government needs to legislate for a “real right to flexible and hybrid working” in a bid to beat traffic congestion that has led to three-hour commutes for some workers travelling into Dublin. Kildare South Labour lawmaker Mark Wall said: “the Government's own code of practice on flexible working and hybrid working is not working. The call back to the office and the workplace is a problem highlighted by many, many commuters who have contacted me over recent days.” He observed that motorists are “leaving their family homes at 6am just to barely make it into work for 9am . . . Productivity is down and the mental health of commuters is affected every day."

Irish Times Online

US sees drop in foreign student enrolment

New enrolment of international students in the US has dropped by 17% this fall, according to the Open Doors report from the Institute of International Education. The decline follows a 7% decrease in the previous academic year, largely attributed to geopolitical tensions and stricter visa policies under the Trump administration. Many universities are struggling financially as foreign students typically pay full tuition. Despite these challenges, over half of surveyed institutions are allowing deferrals and continue to seek international applicants, recognising their valuable perspectives and financial contributions.

Straits Times

Belgium prepares for three days of national strikes

Belgium is set to experience significant disruptions, with unions launching three days of strikes starting Monday. The strikes, aimed at protesting proposed government spending cuts and labour law changes, will unfold in three phases. Public transport will be affected first, with the national railroad company SNCB predicting limited train services. On Tuesday, schools and public services will join the action, culminating in a general strike on Wednesday, which will halt flights at major airports. Unions are urging Prime Minister Bart De Wever to reconsider austerity measures.

France 24

OTHER

Rich nations retreat from development goals

A new report from the Center for Global Development (CGD) finds that wealthier countries, including the US and Japan, are scaling back global development efforts, slashing aid and multilateral funding. The US dropped to 28th in the Commitment to Development Index, with further declines expected due to policy shifts under President Trump, who has also shuttered the United States Agency for International Development (USAID). Although some progress was noted in emissions cuts and migration support, CGD’s Ian Mitchell warned: “The changes the Trump administration is making are very significant.” Sweden, Germany, and Norway lead the rankings.

Reuters

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