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APAC Edition
17th December 2025
 
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THE HOT STORY

Asahi CEO weighs creation of new cybersecurity team

Asahi chief executive Atsushi Katsuki has said he is mulling the creation of a new cybersecurity unit after a September ransomware attack disrupted operations and financial reporting. As part of recovery efforts, the Japanese beer making giant is adopting what Katsuki called a stricter “zero-trust” approach, whereby the company assumes nobody inside its network is safe. He said Asahi has already scrapped the use of virtual private networks (VPNs), that help disguise a user’s location. “Information security is a management issue that should be given the highest priority,” he said. “We thought we had taken sufficient measures, which were easily broken. It made me realize there’s no limit to the precautions that can be taken.”
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STRATEGY

McKinsey plans major job cuts

McKinsey is planning to reduce its workforce by thousands over the next 18 to 24 months due to rapid advancements in artificial intelligence. Senior partners have discussed cutting non-client-facing roles by up to 10%. A spokesperson said: "We’re on our own journey to improve the effectiveness and efficiency of our support functions." The firm, which has already reduced its headcount from 45,000 to about 40,000, faces industry-wide challenges as client demand for consulting services has slowed. Discussions on the job cuts are still in early stages.
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REGULATION

Hong Kong bankers warned to improve quality of IPO paperwork

Investment bankers in Hong Kong have been warned over the quality of their paperwork in filings for initial public offerings after a boom in listings in the Chinese territory. “We are writing to express our regulatory concern over the declining quality of, and certain substandard behavior observed in, recent new listing applications,” said a letter sent to IPO sponsors and signed by officials from the Securities and Futures Commission and Hong Kong Exchanges & Clearing Ltd. Hong Kong listings in 2025 have raised more than $34bn and are on track for a four-year high.
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WORKFORCE

Taiwan's new loan programme for workers

Taiwan has introduced a labour insurance relief loan programme to assist workers facing financial challenges as the year concludes. Eligible workers, who have contributed to labour insurance for at least 15 years and have no outstanding premiums, can apply for loans up to NT$100,000 (approximately $3,200) until January 2. The Bureau of Labor Insurance said that the loan has a three-year term with a 2.165% annual interest rate. Borrowers will pay interest only for the first six months, followed by equal monthly repayments. The Land Bank of Taiwan will manage the programme.

South Korean delivery riders' personal accident insurance premiums to dip 20-30%

Personal accident insurance premiums for delivery riders in South Korea will decrease by 20-30%, according to the Financial Supervisory Service (FSS). The FSS aims to rationalise the pricing system for two-wheeled vehicle insurance, easing the financial burden on riders while enhancing consumer protection. Currently, the average annual premium for commercial two-wheeled vehicles is KRW1.03m, compared to KRW179,000 for personal use. The FSS plans to utilise data from the Insurance Development Institute to improve premium calculations, with changes expected by the first quarter of 2026.
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SUSTAINABILITY

Philippines pioneers innovative carbon credits

The Philippines is trialling a new carbon credit system called transition credits, designed to incentivise companies to reduce climate-warming emissions. These credits aim to generate funds for converting coal-fired power plants into renewable energy facilities. By creating value from the emissions that would be avoided, the initiative seeks to finance the replacement of fossil fuel equipment with clean energy technology.
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TAX

Pakistan may ease smartphone import taxes amid digital access concerns

Pakistan MP Kasim Gilani has indicated that the Federal Board of Revenue is open to lowering steep smartphone import taxes if recommended by the finance ministry’s Tax Policy Office. The levies, which can add hundreds of dollars to device costs, have sparked criticism for restricting digital access and affordability. No formal policy change has been announced, but the move could improve digital inclusion for Pakistan’s largely young population.
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INTERNATIONAL

US government launches ‘Tech Force’ to hire AI talent

The US government has launched an early career hiring and talent development program to bring more technology and artificial intelligence employees to the public sector. The “US Tech Force” initiative is designed to address a technical and early career talent gap across the government, said Scott Kupor, the director of the Office of Personnel Management. Participants will commit to a two-year employment program working with teams that report directly to agency leaders in “collaboration with leading technology companies,” including Amazon Web Services, Apple, Google Public Sector, Dell Technologies, Microsoft, Nvidia, OpenAI, Oracle, Palantir, Salesforce and others, according to an official government website. “If you’re thinking about, long term, a career in technology, there is no bigger and more complex set of problems than we face in the federal government,” Kupor said.

PwC gives Gen Z graduates resilience training

PwC in the UK is introducing resilience and communication training for its graduate recruits to strengthen confidence and the human skills needed for management consulting. Chief people officer Phillippa O’Connor said that while graduates meet academic and cognitive standards, many lack resilience and the ability to handle pressure, feedback and challenging work situations - an issue she links partly to the post-pandemic education experience. The firm has expanded training in graduates’ first six months and launched debate clubs to build communication and confidence, particularly for those without prior exposure to such activities. PwC, which saw graduate applications increase by 35% to 47,000 this year, has reduced UK graduate roles from 1,500 to 1,300 due to a slowdown in consulting demand and increased automation. 

Milei files labour reform proposal to Congress

Argentine President Javier Milei has submitted a labor reform proposal to Congress, in a bid to address what it described as excessive bureaucracy and a "rigid structure" that hinders job creation. The proposed bill seeks to provide employers with more flexibility regarding working hours and severance pay, while also incentivizing the hiring of formal workers and allowing salaries to be paid in foreign currencies. However, the reform faces strong opposition from unions, which are planning a march in Buenos Aires. The bill has the support, however, of industry chamber the Argentina Industrial Union, whose president Martin Rappallini said: "We hope this will little by little start a process to change the dynamic of loss of employment . . . Argentina needs to generate formal work."

Louvre workers launch rolling strike

Workers at the Louvre Museum in Paris voted to strike on Monday amid ongoing concerns about working conditions. The CFDT union reported that 400 workers participated in the vote, leading to the museum's closure. The decision followed unsuccessful talks with government officials, including Culture Minister Rachida Dati. Labour leaders said the talks had not remedied all of their concerns about staffing and financing.
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OTHER

Prada to launch €800 ‘Made in India’ sandals

Prada will release a limited-edition €800 sandal collection in February 2026 that will be made in India, following criticism over designs resembling traditional Kolhapuri chappals that prompted the fashion house to partner with artisan groups in Maharashtra and Karnataka. Under a three‑year programme with state-backed bodies LIDCOM and LIDKAR, 2,000 pairs will be handcrafted using local techniques blended with Prada’s manufacturing methods, alongside training initiatives aimed at preserving the heritage craft. Prada says the project will cost several million euros and fairly remunerate artisans, though it has no immediate plans to open new fashion stores or factories in India despite the market’s fast growth.
 
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