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Business Times
22 minutes ago
- Business Times
Singapore ranks among top cities for tech talent as AI job listings surge globally: report
[SINGAPORE] Singapore has emerged as a top contender in the global tech talent race, tying for fourth place in a global talent acquisition ranking, according to a report released on Wednesday (Jul 9). It tied for fourth place alongside Mumbai and Chennai – and is the only non-Indian city in the top five, indicated the report by Colliers, a global professional services and investment management company. 'Singapore is the only non-Indian market in the top five, driven by strong one-year hiring and a high volume of open job posts, signalling a concentrated effort to hire for the 10 key tech occupations,' Colliers said. Colliers said that the talent acquisition category provides insight into the markets that are currently driving job posts and recruiting activity, reflecting the global demand for tech talent. In a separate one-year hiring index, Singapore ranks eighth globally, reflecting sustained but slightly lower short-term hiring momentum compared with Indian counterparts. Its strong showing was attributed to robust one-year hiring activity and a high volume of open job postings across key technology roles – including in fast-growing areas like artificial intelligence (AI). A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up Singapore ranked alongside heavyweights such as Beijing, Bengaluru and Tokyo. Other Asia-Pacific markets on the rise include Seoul and Sydney, both of which have seen increased demand for AI and cybersecurity talent. Mike Davis, Colliers' managing director of occupier services for Apac, said: 'Apac is drawing significant global attention for its unmatched tech talent density and strong venture capital momentum, particularly in India and China.' The report assessed more than 200 global markets based on these factors: talent acquisition and pipeline, venture capital funding, labour index strength and sector composition. The results underscore a widening polarisation in global tech talent – with the United States, China and India accounting for a disproportionate share of top-performing markets, the report indicated. The San Francisco Bay Area, Seattle and New York City secured three of the top five spots globally, reinforcing the US' leadership in innovation and tech workforce. Meanwhile, India and China each had five cities in the global top 50, highlighting their growing influence in digital economy growth, according to the report. Notably, 36 per cent of the world's tech talent now resides in just 10 global tech cities. 'Global tech talent is becoming increasingly concentrated in a few key hubs, with cities in the US and India leading the way. Although 22 countries have cities ranked in our top 50, the data points to a growing polarisation – especially in AI talent – towards these dominant markets,' Colliers said. India continues to cement its status as a global tech talent powerhouse, holding four of the top five spots in talent acquisition and having all six of its featured cities within the top ten. Bengaluru leads the pack. 'The proportion of younger workers in the tech sector continues to rise. Between 2014 and 2022, the number of employees under 25 grew by 9 per cent – a rate over 20 times the all-industry average. This trend is shifting attention to cities with younger talent pools, such as Bengaluru, Hyderabad and Mexico City,' the report indicated. 'Bengaluru boasts the world's largest pool of data scientists, while Beijing leads the region in tech sector productivity. Meanwhile, cities such as Tokyo, Seoul, Sydney and Singapore are emerging as world-class innovation hubs. These markets aren't just supporting global tech expansion – they're leading it,' it added. AI shakes up talent strategy One of the most significant shifts highlighted in the report is the soaring demand for AI-related expertise. Globally, job listings that require AI skills have surged, while traditional IT postings have declined. Citing recent research by the University of Maryland, the report said the number of new AI job listings have risen 68 per cent since ChatGPT launched in late 2022. By contrast, the number of traditional IT job postings fell 27 per cent in the same period. This is putting cities with strong AI ecosystems – such as Bengaluru, New York and Sao Paulo – in the spotlight for employers. odie Poirier, the president of Colliers' occupier services for the Americas, said: 'As generative AI reshapes talent strategies, we're seeing a significant shift in how companies prioritise location decisions.' 'In the Americas, tech talent hubs like San Francisco and New York remain vital, but markets like Mexico City and Sao Paulo are quickly gaining ground. Organisations need to move fast, make data-informed choices, and align workforce planning with long-term business goals,' she added. Competition for data scientists, information security analysts Competition for data scientists is 'particularly strong,' said Colliers, noting that they are 'critical' to the AI industry, as they develop models that turn large amounts of data into insights and patterns. Demand for data scientists is expected to grow by 36 per cent through 2032 – the highest rate of any tech jobs, it added. 'Interestingly, our research finds that regional hubs of data scientists are emerging in response to increased hiring demand – driven by the need to support large language models and broader AI integration efforts,' the report indicated. It said Bengaluru has the world's largest pool of data scientists, including the biggest workforce in the Apac region. In the Americas, the San Francisco Bay Area and New York City lead, while London and Paris offer the highest concentrations of data science talent in the Europe, the Middle East and Africa region. Another role is also emerging: information security analysts. Demand for this role is 'skyrocketing' with demand jumping 33 per cent, according to the report. The cybersecurity workforce gap grew by 19.1 per cent from 2023 to 2024, said the report, citing data from ISC2, a cybersecurity professional association.
CNA
27 minutes ago
- CNA
TSMC quarterly profit seen soaring to record but Trump tariffs, forex a concern
TAIPEI :TSMC, the world's main producer of advanced AI chips, is expected to post a 52 per cent jump in second-quarter profit to record levels, though U.S. tariffs and a strong Taiwan dollar could weigh on its outlook. Artificial intelligence-related demand continues to boom and while foundry industry revenue will probably grow 17 per cent to 18 per cent this year, sales for TSMC, by virtue of its market-leading position, will likely expand closer to 30 per cent, said Mario Morales, group vice president at research firm IDC. Taiwan Semiconductor Manufacturing Co, the world's largest contract chipmaker and a key supplier to Nvidia and Apple, is forecast to report net profit of T$377.4 billion ($12.9 billion) for the three months through June 30, according to an LSEG SmartEstimate compiled from 21 analysts. SmartEstimates place greater weight on forecasts from analysts who are more consistently accurate. TSMC has already flagged a rise in second-quarter revenue of 38.6 per cent. Any profit result above T$374.68 billion would mark the company's highest-ever quarterly net income and its sixth consecutive quarter of profit growth. It remains unclear just how much U.S. President Donald Trump's tariffs will affect TSMC. Taiwan was threatened with a 32 per cent reciprocal tariff rate in April but has yet to be notified of an updated figure that some countries have received. Trump also said this month that tariffs on semiconductors are likely to come soon. The company said in June that U.S. tariffs were having some indirect impact, noting they can lead to slightly higher prices, which may in turn weigh on demand. In March, TSMC announced a $100 billion investment in the U.S. alongside Trump at the White House, on top of $65 billion pledged for three Arizona plants - two of which have been built. Another key issue is the Taiwan dollar's 12 per cent appreciation against the greenback so far this year. "The exchange rate is a bigger concern as so much TSMC revenue is in USD," said Dan Nystedt, vice-president at TriOrient, an Asia-based private investment firm. TSMC has said a 1 per cent appreciation in the Taiwan dollar typically reduces its gross margin by 0.4 per centage points. In June, the company said the Taiwan dollar's appreciation had shaved more than 3 per centage points off its gross margin. The company is due to report on Thursday and will provide third-quarter guidance during an earnings call scheduled for 0600 GMT. Shares in TSMC surged some 80 per cent last year but have climbed just 3.7 per cent for the year to date on worries about tariffs and unfavourable currency rates. ($1 = 29.2610 Taiwan dollars)
Straits Times
37 minutes ago
- Straits Times
China's economy grows 5.3% in first half of 2025, momentum slowing amid trade tensions
Find out what's new on ST website and app. After a strong start to the year with 5.4 per cent growth in the first quarter, the growth in the second quarter slowed to 5.2 per cent. BEIJING – China's economy grew 5.3 per cent in the first half of 2025, official data showed on July 15, even as ongoing trade tensions with the United States slowed momentum in the second quarter. The headline gross domestic product (GDP) figure for the first half of 2025 announced by China's National Bureau of Statistics is broadly in line with the government's full-year growth target of 'around 5 per cent'. After a strong start to the year with 5.4 per cent growth in the first quarter, the growth in the second quarter slowed to 5.2 per cent, as trade tensions and prolonged property slump weigh down on the world's second-largest economy. China has so far sidestepped an abrupt downturn, thanks to a fragile trade truce struck with the US in mid-May and government policy support. But analysts warn that the second half of 2025 could prove tougher, as exports lose steam and consumer confidence remains low. June's trade figures received a lift from the tariff reprieve, which saw duties on Chinese goods cut to around 55 per cent – down sharply from a punishing 145 per cent. Exporters raced to ship out orders ahead of an August deadline, giving trade a temporary boost. Mr Lynn Song, chief economist of greater China at ING, said in a note to clients on July 14: 'Overall, exports have held up better than most forecasters expected through the first half of the year, and contributed to first-half GDP comfortably beating very downbeat forecasts from the start of the year.' Experts say increasing external uncertainties due to the US-China trade war could raise pressure on policymakers to roll out additional stimulus to support growth. Top stories Swipe. Select. Stay informed. Singapore $3b money laundering case: MinLaw acts against 4 law firms, 1 lawyer over seized properties Business 'Some cannot source outside China': S'pore firms' challenges and support needed amid US tariffs Multimedia From local to global: What made top news in Singapore over the last 180 years? World Trump arms Ukraine and threatens sanctions on countries that buy Russian oil Singapore Turning tragedy into advocacy: Woman finds new purpose after paralysis Opinion Sumiko at 61: Everything goes south when you age, changing your face from a triangle to a rectangle Sport World Aquatics C'ship women's 10km open water swimming event delayed by a day due to water quality Singapore HSA intensifies crackdown on vapes; young suspected Kpod peddlers nabbed in Bishan, Yishun Investors will be watching for signs of fresh stimulus at the upcoming July meeting of the Chinese Communist Party's Politburo, a group of 24 top officials who oversee the party and central government led by President Xi Jinping.
