Latest news with #NorthAsia
Fast Company
a day ago
- Business
- Fast Company
4 key reasons that listening is a powerful business strategy
The loudest voices may seem like they rise above the clamor. But success and sustained growth in business and in life takes people strong enough to listen. As the president of Chubb Life Hong Kong and head of North Asia for the past three years, I've embraced a business strategy centered around agility, diversity, and yes—proactive listening and learning—from the key stakeholders affected by my decisions. That includes the community that surrounds me, and from the deeper ties that bind us all. Here are four key lessons I've learned along the way: #1: Life is full of taboos. Confront them. Diversity is an ongoing action, not a checklist item to be ticked off. In our recent PR, marketing campaigns, and product launches, we've taken on calculated risks head-on and dared to be inclusive by confronting societal taboos in Hong Kong and beyond. In a nod to Hong Kong's shifting population demographics and rapidly evolving definition of family, our 'Every Way of Legacy' campaign called for a new definition of legacy: one based on each individual's unique path and values rather than rote social expectations. We brought this ethos to the fore with innovative products like the city's first insurance plan to offer legacy planning for LGBTQ+ couples. #2: Difficult conversations are waiting. Start one. Life insurance as an industry is rife with possibility and rich with meaning. It's also a minefield for conversations that many people find difficult. However, I've found that the most challenging dialogues are often the most rewarding. In HK, death is something we just don't talk about. Responses from our early marketing research surveys show that 71% of Hong Kongers have yet to talk about death and end-of-life planning with their loved ones. Therefore, last year we painted the question 'What's your wish?' quietly on the streets across Hong Kong to ignite the conversations and built a series of events and social media campaigns around this. As a grand finale of the campaign, we presented 'Conversations of Life: Every Wish Lasts' at Art Basel Hong Kong 2025, an immersive experience that encouraged participants from all walks of life to open up about what they hoped to leave behind for the next generation. By asking guests to think about their final wishes, we were actually challenging them to dream up brighter futures for themselves and their loved ones—and start living out those values today. #3: Companies are part of communities. Join them. At its heart, business is about connection—from our clients to the communities that surround us. Growth is never possible without acknowledging where you live, where you came from, and where you're headed next. We've immersed ourselves fully in local and international communities. From sponsoring Coleman Wong—the first Hong Kong tennis player to win a match at the ATP Masters 1000—to backing events like a YouTube music event, Ultimate Song Chart Awards, special screening for the blockbuster movie The Last Dance, launching Chubb Life Art Gallery, supporting the exhibition 'Picasso for Asia: A Conversation' at M+, and Art Basel, we've sought to embrace our brand philosophy, enabling 'Every Way of Life' by materially supporting the artists who tell our collective stories. #4: Every voice counts. Count them. When I joined Chubb Life Hong Kong in 2022, a key priority was enhancing staff retention. By opening up a two-way dialogue and meeting our employees' needs—from an agile, collaborative workspace to improved benefits centered around holistic well-being and work-life balance—we were able to cut that rate nearly in half within just a year. The principle of the power of listening extends far beyond the workplace. We recently overhauled our underwriting efforts by leveraging insights from our focus groups. These opinions also served as a springboard for our recent array of product launches (with eight released in 2024 alone and two in Q1 2025, including a digital-only product). By considering our clients' unique pain points and needs in an ever-changing world, we've been able to tailor our solutions to them—not the other way around. After all, the boldest moves and best paradigm shifts don't start with the loudest voices; they start with listening ears.
Bloomberg
5 days ago
- Business
- Bloomberg
Japan, US Start Tariff Talks Amid Reports on Cars, Rare Earths
Japan and the US have begun the latest round of trade negotiations, with media reports suggesting Tokyo's delegation is trying to win a reprieve from the tariffs by pledging to make more cars in the US and enhancing cooperation on rare earths. Japan's top trade negotiator Ryosei Akazawa met with US Commerce Secretary Howard Lutnick on Thursday in Washington, exchanging specifics on non-tariff barriers, expanding trade and cooperating on economic security, Japan's cabinet secretariat said in a release. Akazawa is expected to return to Japan Sunday after finishing what could be the last round of working discussions before Group of Seven leaders convene for a summit in Canada later this month.
Finextra
5 days ago
- Business
- Finextra
Citi to lay off 3500 tech staff in China
Citi is to lay off 3500 tech staff in China as part of a major revamp of the bank's global operations. 1 The jobs affected are mostly in the information technology services unit, providing software technology development, testing and maintenance and operational services for Citi's global business. Citi say some of the roles will be relocated to the US and other sites, but declined to provide specific details. 'China has always been an important part of Citi's global network and business development. We will continue to firmly serve corporate and institutional clients in China and serve their cross-border banking needs,' Marc Luet, president of Citi Japan North Asia and Australia said in a statement. The switch comes amid heightened tensions between China and the US, as Donald Trump's tariffs mania leads to a further deteriortation in relations between the two global superpowers. Citi in May hired former US trade representative Robert Lighthizer to advise on tariff implications. Lighthizer served during Trump's first term, imposing tariffs on China and renegotiating the North American Free Trade Agreement (NAFTA) with Mexico and Canada. A business survey from the American Chamber of Commerce in China showed the share of US companies in China considering to relocate manufacturing or sourcing out of China hit a record high, at the outset of Trump's second term.
South China Morning Post
23-05-2025
- Business
- South China Morning Post
How DBS drives changes with lasting impact for Hong Kong's ageing population
Hong Kong officially became a 'super-aged society' last year – a designation by the World Health Organization for places where more than 20 per cent of the population is aged 65 or older. The city crossed that threshold with 22 per cent of its residents over 65. By 2050, the United Nations predicts that this figure will climb to 40.6 per cent – giving Hong Kong the world's highest proportion of people over 65, ahead of South Korea and Japan. This demographic shift presents significant challenges, from a shrinking workforce to increasing pressure on healthcare and social security systems. However, DBS Bank, a Singapore-headquartered multinational financial services firm, sees these global changes not only as challenges but also as opportunities to identify and support solutions that tackle urgent social needs. 'At DBS, we manage our business in a balanced and responsible way,' Sebastian Paredes, DBS' head of North Asia and CEO of DBS Bank (Hong Kong), says. 'In addition to supporting businesses, we aim to support and create long-term value for local communities and people – for their lives and livelihoods. This is more critical than ever, given the growing uncertainty the world is facing. 'I believe businesses here have a crucial role in reshaping societal mindsets around ageing, hence we look to realise opportunities that increase health spans in tandem with lifespans.'
CNA
19-05-2025
- Health
- CNA
Prehistoric Asians walked over 20,000km from North Asia to South America: NTU genomics study
A new study has found that prehistoric Asians migrated over 20,000km from North Asia to South America. This not only shaped the genetic landscape in the region, but might also change the game for precision medicine. Researchers from the Nanyang Technological University traced the path of these early humans and discovered that they overcame extreme environmental challenges over thousands of years. This reduced the genetic diversity of the population and hence, their ability to fight infectious diseases. Two of the study's authors, Associate Professor Kim Hie Lim and Professor Stephan Schuster, shared more about their findings.
