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APAC Edition
23rd February 2026
 
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THE HOT STORY

Asahi cyberattack exposes over 115,000 personal records

A ransomware attack on Asahi Group Holdings last September resulted in the confirmed leak of 115,513 sets of personal data, the Japanese food and beverage giant said. The breach included 110,396 records containing names and phone numbers of executives and employees at client companies, as well as 5,117 records involving names and addresses of current and former Asahi employees. The company had previously estimated that up to 1.9m records may have been affected, though only 18 leaks were initially confirmed.
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TRAINING & DEVELOPMENT

AI adoption reveals critical skills gaps in Singapore and Malaysia

As AI adoption accelerates, a report from Epitome Global highlights significant skills gaps in Singapore and Malaysia. Only 20% of professionals exhibit AI-ready skills, such as persistence and curiosity. While over 70% claim advanced digital literacy, many lack essential skills like decision-making and computational thinking. Kevin Chan, chief executive of Epitome Global, observed: "AI tools are scaling faster than workforce readiness." The report identifies five trends for 2026, including disengagement risks and a shift towards higher-value technical roles in Southeast Asia. Companies are advised to focus on developing workforce skills to leverage AI effectively.
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WORKFORCE

Hong Kong banks shower staff with new year gifts

Several banks in Hong Kong are celebrating the Lunar New Year by rewarding their employees with bonuses and gifts. Bank of China (Hong Kong) is giving each of its 15,000 staff a HK$500 lai see (a gift of money) and a larger gift hamper. HSBC and Hang Seng Bank are distributing HK$500 to nearly 26,000 employees, totalling around HK$13m. ZA Bank stands out with a HK$1,000 lai see and an additional HK$10,000 bonus for each employee. Calvin Ng, chief executive of ZA Bank, said: "Through concrete actions . . . we want our staff to take this time to recharge." Citigroup is also offering HK$800 to its staff.
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REMUNERATION

Meta cuts staff stock awards for a second straight year

Meta has cut equity awards for most employees by about 5% for the second consecutive year, as chief executive Mark Zuckerberg reins in costs to help fund heavy investment in AI. The reduction follows a roughly 10% cut last year and affects tens of thousands of staff, though changes vary by role. The move comes as Meta ramps up AI spending, with projected 2026 capital expenditure of up to $130bn and aggressive recruitment of top AI talent on lucrative pay packages. While overall compensation spending has reportedly risen due to greater rewards for top performers, the cuts to stock awards have frustrated some employees. The company has also made broader efficiency moves, including 1,500 job cuts in its metaverse division, as it seeks to reassure investors about returns on its expanding AI investment.
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STRATEGY

Eli Lilly aims to establish India as a global export hub amid rising Mounjaro demand

Eli Lilly plans to transform India into a key hub for its global supply chain, backed by a $1bn investment in contract manufacturing, as the sales of its weight-loss drug Mounjaro continue to surge. The company has introduced plans to export locally produced medications worldwide while also bringing other products, like the Alzheimer's drug donanemab, to the Indian market. Amidst competitive pressures from companies like Novo Nordisk, Lilly is focusing on enhancing its digital and social media presence to increase awareness and expand Mounjaro's reach beyond major cities.
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CORPORATE

Olympus shares slide after profit forecast cut and earnings miss

Olympus shares fell as much as 11% in Tokyo trading after the group cut its full-year operating income forecast and reported weaker-than-expected third-quarter results. Third-quarter operating profit dropped 37% to ¥24bn, missing estimates of ¥35bn, due to weaker sales, restructuring costs, higher US tariffs and a voluntary product recall. Chief executive Bob White is implementing a turnaround plan that includes cutting about 2,000 jobs and restructuring operations, as the company addresses regulatory scrutiny and supply chain challenges.
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ECONOMY

Indonesian retail sales increase

Indonesian consumers are optimistic as they head into the new year, with retail sales showing significant strength compared to last year. Preliminary data from Bank Indonesia (BI) revealed a slight month-on-month contraction of 0.6% in the retail sales index (RSI), dropping to 228.3 points in January from 229.8 in December. Year-on-year, however, the RSI increased by 7.9%, up from 211.5 points in January 2025. Notably, sales growth was driven by cultural and recreational goods, food, beverages, tobacco, and clothing, with clothing sales expected to rise 8% y-o-y. Despite ongoing contraction in information and communication device sales, overall consumer sentiment remains positive.
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INTERNATIONAL

ZIM workers escalate strike amid Hapag-Lloyd takeover concerns

Workers at ZIM Integrated Shipping Services have intensified their strike, demanding job security guarantees following Hapag-Lloyd's announcement of a $4.2bn acquisition of the Israeli shipping company. Approximately 800 unionised employees initiated the strike at ZIM's Haifa headquarters, citing fears that the proposed creation of a new dedicated container line, "New ZIM," would result in nearly 900 layoffs. Hapag-Lloyd has assured that job security will be negotiated but the union remains concerned about the long-term viability of “New ZIM” due to its reduced size.

Lloyds to investigate its use of staff banking data in pay talks

Lloyds Banking Group chief executive Charlie Nunn has acknowledged there have been concerns over the company's use of information from staff bank accounts as part of pay negotiations and announced an internal review. Nunn said "we have definitely listened" after the UK's biggest lender was criticised for comparing employees' spending habits to the wider public to show if they weathered the cost-of-living crisis better. The group was found to have looked at the data of staff who banked with Lloyds, along with the saving rates and salary increases of its lowest paid workers, and assessed them against its customers.

Eskom's pay increase offer turned down by unions

South Africa's Eskom has faced rejection of its improved 6% pay increase proposal from two major trade unions, the National Union of Mineworkers (NUM) and the National Union of Metalworkers of South Africa (NUMSA). The NUM, seeking a 12% rise - down from an initial demand of 15% - argued that workers should be rewarded for their role in ending load-shedding, saying: "It's not Eskom management that ended load-shedding; it's the workers." With further negotiations planned, Eskom aims for a multi-year wage agreement to sustain improvements following a profitable year.

Nevada sex workers push for union rights

Sex workers at Sheri's Ranch in Pahrump, Nevada, are striving to become the first unionised group in the industry in the US. They have submitted a petition to the National Labor Relations Board under the name United Brothel Workers. The push for unionisation follows a controversial contract that grants the brothel control over workers' likenesses. “This is how you end up the face of a Japanese lubricant company without ever having signed a document," Jupiter Jetson, one of the workers, said. “This is how you end up finding yourself on a website offering AI companionship without ever seeing a penny.”
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OTHER

Australia mandates 48-hour response to school bullying as cases surge

Australian schools will be required to take action on bullying complaints within 48 hours, under a new nationally backed standard aimed at addressing rising rates of student harm. The rule mandates immediate safety measures and parental contact, though not full resolution within two days, as part of a broader shift toward evidence-based and preventive approaches. The reform follows a federal rapid review that received more than 1,700 submissions and found slow, inconsistent school responses allowed bullying to escalate, particularly amid a 450% surge in cyberbullying reports since 2019. Around one in four students in years 4 to 9 report being bullied regularly - nearly 962,000 students annually - with research linking bullying to significantly higher risks of depression and self-harm.
 
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