THE HOT STORY

India demands installation of government app on all smartphones

India’s telecoms ministry has said Apple, Samsung, Xiaomi, and other smartphone manufacturers must ensure that new handsets come installed with a government cybersecurity app, raising concerns about privacy. The Sanchar Saathi app would give Indian authorities access to the phone's call log, memory, and camera. For devices already in the supply chain, manufacturers should push the app to phones via software updates. Apar Gupta, director of the Internet Freedom Foundation, described the app as "disproportionate, legally fragile, and structurally hostile to user privacy and autonomy”. Apple has reportedly indicated that it will resist the mandate, while others, including Samsung, are still reviewing the order.

Business Standard

Financial Times

Reuters

LEGAL

Law firm settles long-running lawsuit with sacked HR executive

Alicia Gleeson, the former chief people officer at Slater & Gordon, has reached a settlement with the private equity-owned law firm after alleging that it underpaid employees and wrongfully terminated her. The lawsuit was filed in Australia's Federal Court last year, and the settlement was finalized last week, with both parties agreeing to cover their own legal costs.

Financial Review

Standard Chartered faces 1MDB lawsuit

A Singapore court has allowed a $2.7bn lawsuit against Standard Chartered Bank to proceed over the lender's alleged role in the 1MDB fraud. Liquidators claim the bank enabled over 100 suspicious intrabank transfers from 2009 to 2013, ignoring red flags and facilitating the concealment of stolen funds. These included transfers to former Malaysian Prime Minister Najib Razak, now imprisoned for graft. Standard Chartered denies wrongdoing and plans to appeal, calling the claims “without merit.” The liquidators view the decision as a key step in recovering assets stolen from Malaysia’s sovereign wealth fund.

Reuters

WORKFORCE

Overseas postings remain rare among Singaporeans

According to Singapore's Ministry of Manpower (MOM), only 3.1% of Singapore's resident workforce has worked overseas full-time for at least six months. The top destinations for these postings are China, the United States, and Malaysia, accounting for 18.3%, 13.6%, and 10.1% of postings respectively. Overseas experience is more common among mid-career workers in their 40s and 50s, with managerial employees showing a higher likelihood of having worked abroad. MOM observed: "For workers aspiring to take on higher-paying roles, actively planning and seeking overseas work opportunities is crucial."

Business Times SG

Seasonal workers in Australia urged to be vigilant amid scams

Seasonal workers in Australia are being urged to be cautious and protect their personal information following a warning from Commonwealth Bank about scams which target them. Simon Birmingham, chief executive of the Australian Banking Association, said "[Seasonal] Workers are particularly vulnerable."

ABC Online

TECHNOLOGY

AI revolutionises natural resources sector

Huawei Technologies is leading a transformation in the natural resources sector through artificial intelligence. Linda Han, vice-president and chief executive of Huawei's oil, gas, and mining unit, said: "AI must be central to production processes." The S&P Global Market Intelligence report highlighted AI's potential for cost savings and reduced carbon footprints in mining. AI applications are evolving from peripheral tasks to core operations, enhancing productivity and safety. Collaborations with companies like China National Petroleum Corporation aim to optimise exploration and drilling processes, significantly improving efficiency and reducing emissions.

South China Morning Post

INVESTMENT

Korea's tax audits postponed for investors

Korea will delay regular tax audits for foreign companies that increase their investment for up to two years. National Tax Service (NTS) Commissioner Lim Kwang-hyun announced the initiative during a meeting with the American Chamber of Commerce in Korea (Amcham). Companies must boost domestic investment by at least 10% for small firms and 20% for mid-sized firms to qualify. The NTS will also enhance guidance for corporate tax filing and expedite Advance Pricing Arrangement processing. Amcham chairman James Kim said: "A fair and predictable tax environment is essential for Korea to compete for global capital and talent."

Korea Joongang Daily

The Korea Times

INTERNATIONAL

Omnicom to cut 4,000 jobs in IPG takeover

Omnicom will cut more than 4,000 jobs and fold several well-known advertising agency brands as part of an immediate restructuring following the completion of its $13bn takeover of US rival Interpublic (IPG). Reuters notes that the ad industry is under threat as artificial intelligence reshapes creative production and tech giants such as Meta make it easier for businesses to develop ads at scale and speed. IPG laid off about 3,200 employees in the first nine months of 2025, and Omnicom last year reduced its staff by 3,000 to about 75,000. "Advertising and technology sectors are undergoing contraction now. It's a tough job market. This announcement makes the market even more crowded," observed eMarketer analyst Ross Benes.

Ad Age

Financial Times

Reuters

Wacker Chemie to cut more than 1,500 jobs

German chemical group Wacker Chemie is to eliminate 1,500 jobs, or nearly 10% of its workforce, as part of a cost-cutting strategy. The job losses, primarily in Germany, aim to save over €300m annually and will be completed by the end of 2027. "Particularly in Germany, the excessively high energy prices and bureaucratic obstacles continue to act as a major brake on the successful development of the chemical industry," said chief executive Christian Hartel. Wacker reported a net loss of over €80m in the third quarter, driven by weak demand and increased competition, particularly from China.

The Local Germany

The housing crisis is pushing Gen Z into crypto and economic nihilism

A US study has found that reduced work effort, increased leisure spending, and investment in risky financial assets are all disproportionately common among young adults who face few home-ownership prospects.

Financial Times

OTHER

Yamada to exhibit ‘human washing machine’

Home electronics retailer Yamada Holdings has announced plans to exhibit the Mirai Human Washing Machine, developed by Science, at its Tokyo flagship store from December, 25th following strong interest at the Osaka Expo. The ¥60m capsule uses fine bubble and mist technology to wash and dry bathers in 15 minutes, with added health-monitoring sensors and audiovisual features.

Japan Times

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