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APAC Edition
29th January 2026
 
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THE HOT STORY

Surge in male parental leave takers in Korea

In 2025, over one-third of parental leave takers in Korea were men, with 339,530 individuals accessing work-family balance programs, a 33.1% increase from the previous year. The number of men taking parental leave rose to 67,196, representing 36.4% of all leave takers, the highest share recorded. The surge is attributed to increased parental leave benefits, which were raised from 1.5m won to 2.5m won ($1,747). A Ministry of Labor and Employment official noted: "Policy changes like higher parental leave benefits are starting to show results." Disparities however persist, based on company size and wage levels.
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WORKFORCE

Bangladeshi workers tricked into fighting on Russia's frontline

An Associated Press investigation has found that many Bangladeshi workers who were lured to Russia under the false promise of civilian work were coerced into combat roles in Ukraine. AP spoke with three Bangladeshi men who escaped from the Russian military, who said that after arriving in Moscow they were told to sign Russian documents that turned out to be military contracts.

Bank employees in Bihar join strike for five-day week

Bank employees in Bihar participated in a nationwide strike on Tuesday, advocating for a five-day work week. The Indian Bank Employees' Union reported that over 40,000 workers joined the protest in Bihar, which was part of a larger movement involving 800,000 workers across India. Utpal Kant, general secretary of the union, said: "Most of the financial sectors across the country have a five-day work week and we want this too." Union leaders warned of an indefinite strike if the issue remains unresolved by March, following an inconclusive meeting with the Indian Banks' Association.
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TECHNOLOGY

AI will not lead to mass layoffs, says head of India’s largest IT services company

Tata Consultancy Services boss K Krithivasan has dismissed fears that AI will upend the $300bn outsourcing industry and precipitate mass lay-offs, saying “AI is not going to create lay-offs by itself.”
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LEGAL

Amazon accidentally sends email confirming layoffs

Amazon informed employees of a new round of global layoffs in an email apparently sent in error. A draft email written by Colleen Aubrey, a senior vice president at Amazon Web Services (AWS), was included as part of a calendar invitation sent by an executive assistant to a number of Amazon workers late on Tuesday. In the email, Aubrey refers to a swathe of employees in the US, Canada and Costa Rica having been laid off as part of an effort to "strengthen the company." An Amazon spokesman declined to comment.
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HIRING

Beijing embarks on tax official hiring spree to boost enforcement amid fiscal pressure

China plans to hire over 25,000 tax officials in 2026 as Beijing looks to enhance tax enforcement amid a widening budget deficit and ongoing fiscal reforms, the Financial Times reports.
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ECONOMY

China's consumers increasingly cautious on spending plans

More Chinese households want to increase saving and reduce spending than before the latest trade war with the US, according to a new survey from the People's Bank of China. The PBOC’s surveys also found that households are increasingly willing to spend on services, a part of the consumer economy that’s been in focus for officials. Education, health care and travel were the top three choices of respondents who planned to increase spending in the next three months.
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CORPORATE

AXA re-domiciles to Hong Kong

AXA Hong Kong and Macau plans to re-domicile AXA China Region Insurance Company (Bermuda) to Hong Kong, pending regulatory approval. This change will not alter the company's legal status or operations. Existing rights and obligations for policyholders and partners will remain intact. Upon completion, the company will be renamed AXA China Region Insurance Company (Hong Kong). AXA chief executive Greater China Sally Wan said: "This move is not merely administrative; it is a significant step forward in deepening our roots in Hong Kong." The shift aims to align registration with operations and enhance compliance.
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INTERNATIONAL

Minnesota’s biggest companies urge ‘de-escalation’ of tensions

In an open letter coordinated by the Minnesota Chamber of Commerce, chief executives from some of the state’s largest employers have called on federal, state and local officials to pull back from further confrontation following the fatal shooting of ICU nurse Alex Pretti by federal immigration agents in Minneapolis, and work together on a negotiated solution. The letter was signed by top executives of Minnesota’s largest companies and large hospital systems, including Land O’ Lakes, Hormel, U.S. Bancorp, Mayo Clinic and 3M. “Every CEO . . . they want to have a peaceful environment for their employees,” said Bill George, the former chief executive of Medtronic, whose current chief signed the letter. “The larger issue for CEOs,” George added, is that the unrest in Minneapolis “is going to have a very negative effect on their growth, on their innovation and particularly their ability to recruit people from around the country and around the world.”

Middle East businesses wary of Saudi Arabia-UAE tensions

Bloomberg reports that Middle East businesses are nervously watching tensions between Saudi Arabia and the United Arab Emirates amid concerns that commerce could be affected. Some companies operating in both countries have begun contingency planning to ensure business continuity should the situation - focussed on the political situation in Yemen - escalate further, according to people familiar with the matter. Bloomberg notes that about $22bn in trade between the two largest Gulf economies is at stake, as well as business confidence. “At this stage, companies are not reacting operationally; they are asking baseline questions,” observed Hussein Nasser-Eddin, chief executive of Dubai-based security services provider Crownox. “Most inquiries focus on financial resilience in case of escalation and whether there are any early diplomatic or consular shifts.”

Hanwha Group aims to create 200,000 jobs in Canada by 2040

South Korean conglomerate Hanwha Group has announced plans to generate at least 200,000 jobs in Canada by 2040 through investments across multiple sectors, including shipbuilding, artificial intelligence, and aerospace. The initiative coincides with Hanwha's bid to secure a significant submarine contract, estimated to be worth over $12bn, amid ongoing competition with the shipbuilder TKMS.

AI job losses 'are hitting hardest in the UK'

The UK is losing more jobs than it is creating because of artificial intelligence, and at a faster rate than international peers, according to research by Morgan Stanley. UK companies reported that AI led to 8% net job losses over the past 12 months, the study found. This was the highest level in a group that included German, American, Japanese and Australian companies, and twice the international average. British firms reported an average 11.5% productivity increase due to the adoption of AI; almost half experienced even greater boosts.
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OTHER

Hyundai Department Store launches K-culture transit tours to attract layover tourists

Hyundai Department Store has introduced a "K-culture transit tour" targeting foreign tourists transiting through South Korea. In collaboration with Incheon International Airport Corporation, the Visit Korea Committee, and Paldo Co., the program offers a four-hour experience every Thursday to Saturday, including a shopping trip to The Hyundai Seoul in Yeouido and a Korean cooking class. The tour, limited to 40 participants per day, has seen high demand and aims to enhance Korea's appeal as a layover destination, aligning with global trends in transit tourism.
 
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