ReleaseWire

Intel has been pretty clear about its intentions to expand on its chip research and manufacturing capabilities in Europe - and now the company has put a figure on it. EUR33 billion is the total that Intel plans to invest right now but this could easily increase to EUR80 billion, according to sources. The growth plan is getting underway with EUR17 billion that the business is investing in two chip fab factories in Magdeburg, Germany that are going to be focused on advanced chip making. Construction on the factories is due to begin in 2023 as long as the European Commission gives its approval. The move is going to create around 7,000 construction jobs in Germany, as well as 3,000 permanent, high-tech jobs at Intel itself. The sites in Germany are just a part of the expansion that Intel has planned - it is also looking at a new back-end manufacturing facility in Italy and intends to double its investment in manufacturing space in Ireland.

Software development services is a fast-growing market in Europe. There are many different reasons for this, including the current shortage of software developers, which is driving a trend towards outsourcing. More than half of European companies have said they have struggled to recruit in this field and the European Commission predicted a shortage of IT professionals of around 500,000. In addition to this skills shortage, the potential of the European market is being defined by the extensive need for digital transformation that is happening all across the continent. In-house software development simply isn't something that most businesses can budget for, even though many need to have access to it. As a result, the demand for outsourced software engineering development continues to grow. The potential that this market has can be seen in the spending predictions being made by organisations in Europe. For example, 38% plan to outsource at a higher rate over the next two years than they have done in the past.

If there is one sector that has benefited from changes to working life during the pandemic it is cyber security recruitment. Cyber-attacks have increased in volume thanks to the vulnerabilities created by different working patterns and more flexible working habits have created new challenges when it comes to keeping systems secure. Firms all over the UK have been hit with an increased demand for cyber security recruitment in order to help ensure that their data and systems are protected. The UK Government's 2021 Cyber Security Breaches Survey identified that, not only was there an increase in cybercrime during the past year, but also a drop in preparedness. From getting access to the latest technology, to seeking advice on the right hardware and finding the best security software options, a whole range of needs now exist when it comes to the demands that businesses place on cyber security talent, whether internal or external.

A new strategy has been announced by QPR software, indicating that the business is going to be increasingly focused on supporting growth via an ever more refined focus. Rapid expansion of the process mining market is going to be at the heart of new strategic investments at QPR Software, with a particular focus on the international process mining SaaS business. The company is also looking to start creating new strategic partnerships with the intention that these will considerably extend the existing offering. QPR Software has set some ambitious goals for the coming two years, aiming to double the annual recurring SaaS revenues that it receives from process mining. The move will not come as a surprise to those who understand the value of the process mining market. In 2021 it was worth EUR500 million globally and growth of up to 50% is forecast for 2022. Related consulting and services also constitute a sizable additional market that is also incredibly valuable.

There is no doubt that the market for electric vehicles is getting increasingly competitive. High-profile manufacturer, Tesla. has come out swinging in terms of ensuring that it retains, and builds on, its market share. Just a few days after getting a permit from the authorities for its Gigafactory in Berlin, Tesla launched a recruitment campaign to find the staff for the huge production site. The Gigafactory has now opened, presumably focusing mostly on the Model Y electric SUV, which Tesla is aiming predominantly at the European market. The Gigafactory is Tesla's first location in Europe and the company describes it as "our most advanced, sustainable and efficient facility yet." The plans for the factory were first announced in 2019 so it has been a long time coming in Tesla terms. It can't come soon enough for the innovative car marker, as many other auto brands are investing in producing new models to try and gain electric vehicle market share, including Volkswagen and Honda.

Bayer looks set to pump more resources into its German operations with the announcement of an investment of $1.53 billion. The cash is going to be used to grow manufacturing operations in Bergkamen, Berlin, Leverkusen, Weimar and Wuppertal and to create greater scope for innovation. One key target for Bayer is modernisation of facilities and being able to integrate more digital technologies, as well as investing in more innovative research methods. The company is also looking to establish strong links with up-and-coming innovators by collaborating with universities and start-ups that are disrupting in the life sciences field. The investment is designed to provide a boost to the company's presence in Germany but also invigorate its global competitiveness as an innovator. Sites in Dormagen, Frankfurt and Knapsack are also due to receive investment in 2026 as Bayer continues to drive its manufacturing capabilities to the most competitive level possible.

When the proposed merger between Glen Point Capital and Eisler Capital looked set to collapse, this immediately caught the attention of asset management recruiters in the UK and beyond. The failed merger has made Glen Point a new target for asset management recruiters in London, particularly as the firm has a history of recruiting from big banks like Citi and the calibre of talent within the business is known to be high. As a result, it's no longer Credit Suisse that is the target for headhunters in this industry but Glen Point Capital. The firm was originally established in 2015 and began life as a globally macro fund with strategies encompassing other areas such as emerging market fixed income. It was supposed to be completing the merger with Eisler Capital in March of this year and no reason has been given publicly as to why the deal didn't go through.

Last year, supply chain start-ups attracted investment of more than $65 billion as retailers were forced to deal with a whole range of issues, from labour shortages to a lack of raw materials. This figure represents a huge rise on the $38.4 billion invested during 2020. This has resulted in a wave of innovation to industries such as fashion, as new ways to solve old problems, and break new ground in the process, now have to be found. Innovation in the fashion supply chain has covered many different areas of operations but in particular when it comes to shipping and warehouse automation. Technology has a huge role to play in this, from data and analytics through to the use of advanced tech like Artificial Intelligence. It's thanks to the investment made in the supply chain start-ups that are producing this innovation that industries such as fashion can move forward in a more efficient and sustainable way.

There are many different ways in which businesses have taken steps to help Ukrainians who have been forced out of their country. The supermarket Iceland has offered to fast track Ukrainian applicants for jobs with the chain and its logistics partner. The business also promised to provide support for applicants in terms of obtaining the right to work and finding somewhere to live on arrival in the UK. The offer of help was posted to Iceland's social media platforms and included a link to the recruitment page of the logistics partner GXO. The GXO recruitment page contains a range of roles in areas such as lorry driving and warehouse jobs. Management at the supermarket made it clear that this was in response to the war in Ukraine and what they see as the need to support everyone whose lives and jobs have been taken from them. At the moment, Iceland hasn't provided any more information on how the fast tracking is going to be achieved.

Lockhead Martin is one of the largest defence contractors in the world, employing around 100,000 people globally. It has now been revealed that the contractor is exploring a space in the UK that could potentially generate more than 2,000 aerospace manufacturing jobs. Specifically, Lockhead is looking at the North East of England, where it would make a £50 million investment if the move does go ahead. The UK and Europe regional director of the business has outlined how it is focused on helping to nurture growth in the UK, in particular when it comes to establishing it as one of the "most prosperous and capable space sectors in the world." There are many reasons why Lockhead Martin is looking at the North East of England, and why it is such a good prospect for this kind of investment. These include the strong manufacturing heritage in this part of England, as well as the reputation for quality output and the skilled nature of the local workforce.

Renewable energy is a key focus for the energy industry globally and evolution is happening constantly. Now, a new partnership between Shift Clean Energy and Vitol will supply Vitol's bunker operations company - V-Bunkers - with hybrid bunker tankers. These are the first to be used in Singapore and will help to achieve an improvement in fuel efficiency - as well as a 10% reduction in emissions. The clean energy initiative will have many other advantages too, including reducing fuel and maintenance costs and improving reliability and responsiveness of power management. The partnership has been highlighted for its innovation and the way that it shows that there are opportunities for oil and gas companies to find ways to reduce GHGs right along the supply chain. The clean energy solution from Shift will help to decarbonise V-bunkers fleet operations and lead the way in sustainable solutions that meet commercial objectives too.

Although it was initially thought that reshoring would be one of the biggest impacts of the pandemic, the worldwide shift in production actually hasn't happened. We have not yet seen governments and companies worldwide moving manufacturing closer to home in response to supply chain challenges. Instead, measures that were put in place to contain the virus in Asia actually provided opportunities for manufacturing in the region to power ahead. There is now data to show this progress with intra-regional trade in Asian economies increasing by 31% in the first three quarters of last year. The data comes from the Asia Development Bank and shows that trade within Asia made up more than half of the region's total trade in 2020. Robust supply chains and resilient foreign direct investment have shown the strength of the region. Proving that there are limits to reshoring supply chains, even during pandemic times.

There have been many challenges for the construction sector over the past couple of years thanks to the pandemic. From problems surrounding labour shortages, rising costs as well as cash flow issues it has not been an easy time. However, the outlook for construction jobs - and for the sector in general - is upbeat with demand projected to be between $27Bn and $32Bn over the course of 2022. This is according to figures from the Building and Construction Authority. This increase in demand is going to be good news for a sector that has seen plenty of disruption since 2020. Around 2,200 construction companies ceased operations last year, a figure that is comparable to the number of companies that went out of business between 2018 and 2020. Support and relief measures have been put in place to help construction businesses tread a path to recovery - and to take advantage of the new spikes in demand that will help enterprises start to thrive once again.

The Singapore-based financial technology platform Cake DeFi has launched a venture capital arm that is going to be pouring funds into start-ups in areas such as Web3 and gaming. The new arm already has an initial $100 million in funds and picked its first investment target - the start-up The Edge of Company. The objective of launching the new arm of the business is to raise the profile of blockchain and cryptocurrency and make these more accessible worldwide. Given that Cake DeFi is one of the most impressive fintech platforms in the region when it comes to growth this is clearly a huge opportunity for any of the start-ups that the business chooses to work with. Support is likely to be global, especially when it comes to international scaling. The new VC arm of Cake is especially keen to invest in start-ups that are focused on NFTs, blockchain and the metaverse.

It has been announced that Rede Partners has opened a new office in Hong Kong, appointing Charles Wan as the regional head for the business. The move signals a clear focus on the Asia Pacific region and the importance of Hong Kong as a gateway to this part of the world. Having a physical presence in Hong Kong will provide Rede with the opportunity to expand throughout the Asia Pacific region. Rede has established itself in a prominent position as a market-leading private markets advisory firm and the team has supported some of the industry's most dynamic GPs and LPs. This comes on the back of the firm celebrating its 10th anniversary in 2021 and seeing major growth, including appointing three new partners. Rede has also enjoyed considerable financial success, raising more than €20 billion of commitments for its primary fundraising clients across 13 funds holding final closes. The Hong Kong office looks like the start of an exciting new chapter for the firm.

According to Hong Kong's Labor and Welfare Bureau, the local innovation and technology ecosystem is creating a broad range of opportunities in manufacturing recruitment. In particular, the 'InnoPark' concept, which has resulted in three former industrial estates in Tai Po, Tseung Kwan O and Yuen Long being repositioned as tech-centric InnoParks, is supporting the government focus on re-industrialisation to boost economic growth. 'Innofacturing' will take place in InnoParks - an "infusion of innovation into existing industries through the use of advanced technologies, such as AI, robotics and data analytics." This will provide exciting opportunities for those with skill sets in areas such as R&D. The government has emphasised the importance of bringing traditional industry up to speed with technology - achieving Industry 4.0's smart production techniques. With this new focus it intends to diversify the economy away from reliance on sectors such as logistics and tourism and towards a more tech-driven manufacturing sector that can help to support greater economic growth in the region.

Captive insurance has been a key theme over the past year, as policy initiatives have emerged aimed at securing Hong Kong's place as a key hub for global trade. As identified in the Insurance Authority's annual report, these initiatives have focused on four areas of captive insurance: insurance-linked securities (ILS), marine and specialty risk insurance, and reinsurance. The report highlights how legislative amendments have worked to make Hong Kong an ideal captive domicile for risk management insurers. The report focuses on Hong Kong's position close to Mainland China, as well as the fact that it is already renowned as a global financial centre. This combination, it says, "make it an ideal captive domicile for Mainland Chinese enterprises with overseas projects." The report also highlights how the Hong Kong Specialty Risks Consortium has been established to help connect supply and demand in the specialty risks area, further reinforcing Hong Kong's prime position.

The Hong Kong FinTech Buzz Index (FBI) is a quarterly index that represents a quantified sentiment of the local FinTech-related news articles in local Chinese news media. It is often used as a way to judge the outlook for fintech companies in the region and also where general sentiment sits in terms of the sector on a local level. After a previous decline in the Q4 2021 numbers, the most recent figures show that the Index is rebounding. All six of the indices used in the FBI have shown recent improvement and in particular, for Blockchain & Cryptocurrency, which experienced the largest rise. Insurtech and Payment & Digital Banking also saw notable upward shifts. The Index is the first resource of its kind in the region to provide timely information that allows tracking of the way that the financial technology sector is growing. It is proving to be an essential yardstick for following the progress of this key Hong Kong financial industry.

A changing labour market, combined with new, more empowered employee attitudes make this a challenging time for executive search. Strong competition and talent shortages - especially when it comes to C-suite executives - exert intense pressure on organisations keen to ensure leadership is innovative and resilient. Approaching such a challenge with the same tools and attitudes as in years gone by won't cut it in 2022 - this is the year when winning the war for talent needs a brand-new approach.

A leading workforce and recruitment expert, Volt Singapore offers recruitment process outsourcing (RPO) solutions to help businesses find the right people to fill critical roles. With effective recruitment strategies, the company works closely with clients to define their exact needs before putting them into action. Their dedicated team work as part of the clients' team, utilising various tools to track, identify and deliver potential candidates. The company adopts customized solutions best suited to the requirements of their clients, giving them a competitive edge and an opportunity to enhance their talent pool with highly skilled candidates.

We might be in a 'post-covid' era (as it is being defined by some) but adjustment and ongoing adaptability are going to be key factors for CFOs going forward. Challenges remain, whether they relate to skills shortages or meeting expectations around ESG standards. However, prosperity and performance look set to continue an upward trajectory with recovery from the pandemic, not just proceeding well, but exceeding what was achievable before COVID-19. While recruitment challenges persist, the positive light of a new dawn looks likely.

After a disappointing 2021, this year is already proving more positive with 82% of HR leaders expecting headcount to rise or remain the same thanks to a change-driven outlook influenced by factors, such as more support for gender diversity and overcoming cultural attitudes to stress.

DEI practices not only improve productivity and engagement but create more positive workplaces that are more collaborative and creative - the investment in change is vital but still has a long way to go.

Forecasts are positive for the global term insurance market, which is expected to expand at 4.2% over the period to 2030. There are a number of different factors that have been driving the increase in market growth, including the much larger volumes of middle-class people in developing countries and the increase and expansion of new digital sales channels.

The trend towards renewable energy continues to spike as corporate buyers focus more acutely on this area of commodities. This is despite the fact that there has been an almost 6% increase in the cost of power purchase agreements. It's now very much a seller's market and corporate buyers of renewable energy are going through the process of adjusting expectations as a result.