International News 29 October 2025
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Amazon to Lay Off 30,000 Corporate Employees Amid AI-Driven Efficiency Push
Amazon plans to cut up to 30,000 corporate jobs starting Tuesday (Oct 28, 2025), marking its largest round of layoffs since 2022, as part of CEO Andy Jassy’s ongoing cost-efficiency initiative. The reduction represents nearly 10% of Amazon’s 350,000 corporate workforce, though it remains small compared to its total 1.55 million global employees. The cuts will primarily affect divisions such as human resources (PXT), operations, devices and services, and Amazon Web Services (AWS). Managers reportedly received training on Monday to prepare for notifying affected staff. The move comes as Amazon seeks to streamline management layers and leverage artificial intelligence (AI) to automate repetitive tasks, following a surge in AI-driven productivity. Analysts say the layoffs reflect both AI-enabled efficiency gains and pressure to balance long-term infrastructure investments. Sources noted that HR could see reductions of up to 15%, while Amazon’s strict return-to-office policy failed to trigger the voluntary resignations management expected. Despite the downsizing, Amazon remains bullish ahead of the holiday shopping season, planning to hire 250,000 seasonal workers. Meanwhile, AWS posted second-quarter sales of US$30.9 billion, up 17.5% year-on-year but still trailing Microsoft Azure and Google Cloud. Amazon shares rose 1.2% to US$226.97 on Monday, ahead of its third-quarter earnings release later this week.
Asian Currencies Mixed as Taiwan Dollar Leads Gains, Peso Weakens Most
Asian currencies moved mixed against the U.S. dollar on Tuesday morning (Oct 28, 2025), with the Philippine peso posting the sharpest drop, down 0.42% to ₱59.11 per dollar. In contrast, the Taiwan dollar strengthened 0.38% to NT$30.60, while the Japanese yen and Singapore dollar gained 0.36% and 0.11%, respectively. Other regional currencies saw modest moves — the Thai baht rose 0.15%, the Malaysian ringgit edged up 0.07%, and the Chinese yuan gained 0.07%. Meanwhile, the South Korean won slipped 0.10%, and the Indonesian rupiah weakened slightly by 0.03% to Rp16,615 per dollar. Year to date, the Taiwan dollar has been one of Asia’s strongest performers, appreciating 7.11% against the greenback, followed by the Singapore dollar (+5.40%) and Thai baht (+5.20%). In contrast, the peso (-1.75%), rupiah (-3.16%), and Indian rupee (-2.98%) have weakened amid a stronger U.S. dollar and concerns over global interest rate trends. Analysts say Taiwan and Singapore continue to attract capital inflows due to economic stability, while weaker currencies face external pressures from persistent dollar strength and cautious monetary outlooks.
China and ASEAN Sign Upgraded Free Trade Deal to Deepen Economic Ties
China and the Association of Southeast Asian Nations (ASEAN) signed an upgraded version of their Free Trade Agreement (FTA) on Tuesday (Oct 28, 2025), expanding cooperation into digital economy, green development, and emerging industries. The ASEAN-China Free Trade Area (ACFTA) 3.0 was finalized after nearly three years of negotiations and aims to strengthen economic links amid rising global trade tensions. ASEAN remains China’s largest trading partner, with bilateral trade reaching US$771 billion in 2024. Beijing described the upgraded deal as a reflection of both sides’ commitment to multilateralism and open trade, even as China faces criticism over tighter export controls on rare earths and critical minerals. The agreement, signed at the ASEAN Summit in Malaysia and attended by U.S. President Donald Trump, expands market access in agriculture, digital services, and pharmaceuticals. Both ASEAN and China are also members of the Regional Comprehensive Economic Partnership (RCEP), the world’s largest trade bloc, which held its first summit in five years this week in Kuala Lumpur. Analysts see ACFTA 3.0 and RCEP as potential buffers against Trump’s tariff hikes, though structural differences among members may limit their impact. Following weekend talks, China and the U.S. extended their temporary trade truce, with further discussions between Trump and Chinese President Xi Jinping scheduled in Seoul later this week.