THE HOT STORY

Global consultancies test China boundaries

Reuters reports that top consulting firms including KPMG, EY and Bain & Co are doing business in China in ways that some industry and legal experts say test the boundaries of Western sanctions. Interviews by Reuters with 10 current and former industry figures and a review of engagement agreements and company communications are said to demonstrate how the consultancies have sought to manoeuvre around evolving constraints.

Reuters

LEGAL

New Indian labour code rules set for February

India's Central government will finalise rules under the Industrial Relations Code by the end of February, according to a recent Delhi High Court hearing. Solicitor General Tushar Mehta noted that existing labour laws will remain effective until new tribunals are established, as he addressed concerns over potential legal vacuums. Petitioners highlighted gaps in the implementation of the 2020 labour laws, which consolidate various regulations. The court acknowledged these concerns but reassured that the transition would be managed, thus allowing petitioners to raise issues if they arise post-implementation. The new codes aim to protect workers' rights while promoting business efficiency.

Livemint.com

WORKFORCE

Thai durian market hit by labour shortages

Thai durian exports are set to encounter significant challenges this harvest season due to labour shortages and insufficient collection centres. Wittayakorn Maneenetr, director-general of the Department of Internal Trade, said: "Assuming the weather does not negatively impact the harvest season starting in April, we anticipate durian supply will increase by 10% year-on-year." However, the decline in skilled Cambodian workers and strict inspections by Chinese authorities for chemical residues pose additional obstacles. The department said it is exploring new markets, including India and the Middle East, to boost demand for Thai durian.

Bangkok Post

CYBERSECURITY

HKMA steps up preparations for tech risks

Eddie Yue Wai-man, chief executive of the Hong Kong Monetary Authority (HKMA), has confirmed that HSBC's recent system outage was due to internal computer issues, not a cyberattack. The disruption affected online banking services for many of HSBC's 6.2m customers. Yue stated: "HSBC informed the HKMA immediately after identifying problems with its online banking services." The HKMA has instructed HSBC to conduct a thorough review to prevent future incidents. Services resumed within hours, but the incident has prompted the HKMA to increase scrutiny of technology risks in the banking sector.

South China Morning Post

ECONOMY

‘Muted' outlook for Singapore's manufacturing sector in 2026

Singapore's manufacturing sector is expected to see muted growth in 2026, with projections between 1% and 3%, down from 8.7% in 2025, said Lennon Tan, president of the Singapore Manufacturing Federation (SMF) He highlighted challenges such as geopolitical tensions and the need for workforce upskilling. Meanwhile, Minister of State for Trade and Industry Gan Siow Huang has emphasised the importance of regional partnerships and sustainability. SMF has introduced initiatives, including a playbook for the Johor-Singapore Special Economic Zone, to support manufacturers in navigating such challenges. Gan observed: "The factories of the future will require a very different workforce from those of the past."

Business Times SG

US agrees to cut tariffs on India to 18% in trade deal tied to Russian oil exit

The United States has agreed to reduce tariffs on Indian goods to 18% under a new trade deal, after India committed to stop buying Russian oil and significantly increase purchases from the US, President Donald Trump has said. The agreement removes both the previous 25% “reciprocal” tariff and an additional 25% levy imposed over India’s Russian oil imports. As part of the pact, India has also pledged to lower tariffs and non-tariff barriers on US goods to zero and to buy up to $500bn of American energy and agricultural products. The deal follows months of strained negotiations but comes amid resilient bilateral trade, with Indian exports such as pharmaceuticals, electronics and smartphones continuing to grow strongly despite earlier tariff measures.

DIVERSITY, EQUITY & INCLUSION

Women lawyers in Australia face partner disparity

Women constitute 59% of lawyers in larger law firms in Australia, yet only 42% are partners, according to the Raising the Bar: Women in Law Project – Australia report. This study, conducted by the Law Council of Australia, highlights a significant gap in career progression for women. Juliana Warner, the Law Council's immediate past president, noted that women face ongoing challenges in balancing demanding careers with family responsibilities. She said: "Flexible working arrangements . . . are now common in Australia" - but noted that more work is needed to achieve gender equality in the legal profession.

The Global Legal Post

INTERNATIONAL

Germans' 'lifestyle part-time' work faces scrutiny

The economic wing of Chancellor Friedrich Merz's centre-right Christian Democratic Union (CDU), the Mittelstands- und Wirtschaftsunion (MIT), has criticised what it calls "lifestyle part-time" - a reference to "not people who need to reduce their hours to take care of children, or sick relatives or pursue education. It's about people who just want more free time," MIT spokeswoman Juliane Berndt explained to Deutsche Welle. "With a four-day week and an exaggerated work-life balance, prosperity cannot be maintained," Merz said in early January. He also complained that Germans call in sick for work too often, and suffer from a lack of work ethic.

Deutsche Welle (EN)

Citi seeks to move harassment claim against top executive to arbitration

Citigroup has rejected claims by former managing director Julia Carreon, who sued the bank over alleged sexual harassment by wealth management chief Andy Sieg. The bank’s complaint alleged Carreon lodged the sexual harassment allegations to avoid requirements that otherwise would have necessitated the employment dispute to be handled through arbitration. "Citi's retaliatory filing of a lawsuit against Ms. Carreon after she sued the firm for gender and racial discrimination speaks eloquently to the bullying and intimidation tactics Wall Street firms routinely employ against women or people of color who have the courage to seek reform," Carreon's lawyer Linda Friedman said.

Financial Times

Reuters

EU plans to extend 90-day rule for some non-EU workers

The European Commission is to look into allowing certain non-EU professionals to stay in the EU beyond the current 90/180-day rule. “The Commission will work closely with Member States to identify pragmatic solutions to accommodate extended short stays for selected categories of third-country nationals, ensuring a security and economic benefit for the Union, as well as legal clarity for travellers," the commission outlined in its strategy to allow longer short-stay Schengen visas for certain professional categories.

The Local

OTHER

Girls 'happier than boys at school'

Norwegian researchers say that girls tend to be happier than boys at school, partly due to differing biological responses to social interactions. Girls gain more dopamine from friendships, while boys, who have higher testosterone levels, require more physical activity to achieve similar happiness. The study of over 1,600 children revealed that girls and younger students reported greater well-being and a stronger connection to their school environment. Additionally, girls outperformed boys academically in reading and science, despite boys believing they excelled in math.

The Independent UK

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