Category: Business

Business

China’s Property Reset Has Begun: Why Beijing Is Dismantling Housing Presales Without Killing Them Overnight

BEIJING — China is finally moving away from the housing system that helped fuel one of the biggest property booms in modern history. But Beijing is not pulling the plug overnight. For decades, Chinese developers have relied heavily on selling apartments before construction was completed. Buyers would put down deposits, take out mortgages and begin paying for homes that often existed only on paper. The system powered a spectacular building boom. It also helped create a dangerous cycle of debt

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Business

From Sarawak Longhouses to Kuala Lumpur: Can Malaysia’s Ancient Tuak Become the Next Global Drink?

KUALA LUMPUR, Malaysia — For generations, tuak was made in Sarawak homes and longhouses, poured during harvest festivals, family gatherings and important cultural celebrations. It did not need glossy packaging. It did not need a marketing campaign. And it certainly did not need to compete for shelf space in Malaysia's modern cities. Now, a new generation of Malaysian entrepreneurs wants to change that. Young brewers and business owners are taking tuak — Sarawak's traditional fermented rice

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Business

Southeast Asia Is Growing Older — And a Massive New Business Boom Is Just Beginning

SINGAPORE — Southeast Asia is getting older. And increasingly, business is paying attention. Across the region, private companies, healthcare operators, property developers and even luxury resorts are racing to serve a rapidly expanding generation of older consumers — creating what policymakers and businesses now call the silver economy. From assisted living homes in Singapore to retirement communities and wellness-focused developments in Thailand, ageing is no longer being viewed only as a d

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Business

China Wants Consumers to Spend More — But Economist Lan Xiaohuan Says Beijing Faces a Delicate Balancing Act

BEIJING — China has built one of the world's most powerful manufacturing and export machines. Its factories produce everything from electric vehicles and solar panels to smartphones, machinery and advanced technology. But Beijing now faces a problem that could define the next phase of China's economic future: How do you convince hundreds of millions of consumers to spend more? Economist and bestselling author Lan Xiaohuan says the answer is not as simple as handing out more subsidies or laun

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Business

Uber Is Cutting 3,300 Jobs Even as Business Booms — But the Real Shake-Up Is About What Comes After Human Drivers

SAN FRANCISCO — Uber is eliminating thousands of corporate jobs in its largest workforce reduction since the COVID-19 pandemic. Normally, that sentence would suggest a company in trouble. The numbers tell a much stranger story. Uber's revenue rose 12% to $14.2 billion in the second quarter. Gross bookings surged 24% to $58 billion. Trips climbed 18% to nearly 3.9 billion. Operating income reached $1.9 billion. And trailing 12-month free cash flow exceeded $10 billion for the first time in

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Business

Philippines Welcomes 4.11 Million Visitors in Eight Months — But the Race to 7 Million Just Got Much Harder

MANILA, Philippines — More international travelers are coming to the Philippines this year, but the country will have to accelerate sharply over the final four months of 2026 if it wants to reach its ambitious 7-million visitor stretch goal. The Philippines recorded 4,112,488 international visitor arrivals from January through August, up roughly 3.7% from 3.97 million during the same period in 2025, according to Department of Tourism data. That is genuine growth. But the numbers also reveal a

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Business

China Is Producing More Cars, Batteries and Goods Than Ever — But the Numbers Reveal Why the West’s ‘Overcapacity’ Case Isn’t So Simple

BEIJING/WASHINGTON/BRUSSELS — A battle over Chinese factories has rapidly become one of the biggest economic confrontations of 2026. Washington says China is producing too much. Europe says a flood of subsidized Chinese goods threatens its industrial base. Beijing says Western governments are using the language of “overcapacity” to disguise protectionism against increasingly competitive Chinese companies. And the numbers suggest an uncomfortable conclusion: there is evidence supporting parts

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Business

He Built One of Asia’s Most Famous Bar Groups Without Being a Bartender — Now Indra Kantono Says Cocktails Alone Aren’t the Future

SINGAPORE — Fourteen years ago, Indra Kantono and Guoyi Gan entered Singapore’s emerging cocktail industry with an unusual résumé. Neither was a professional bartender. Kantono came from consulting and private equity. Gan had been a Singapore Airlines cabin crew member. They learned classic cocktails from books, videos and visits to bars overseas before risking their savings on an idea that could easily have failed. Instead, that idea became Jigger & Pony, one of the most internationally reco

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Business

Marikina’s Innovation Hub Is Getting a BOI One-Stop Shop — But the Bigger Test Is Whether Startups Can Turn Access Into Investment

MARIKINA CITY — Filipino entrepreneurs trying to navigate government requirements may soon be able to access key investment services without making another trip to Makati or jumping between multiple agency websites. The Board of Investments and National Development Company have signed a memorandum of understanding to establish a government One-Stop Shop through a self-service digital kiosk at the Philippine Innovation Hub–Marikina Enterprise Center. The objective sounds straightforward: put i

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Business

PH Inflation Falls to 6.1% for the Fourth Straight Slowdown — But Rice Prices Are Moving in the Opposite Direction

MANILA, Philippines — Philippine inflation eased for a fourth consecutive month in August, offering another sign that the country's severe price pressures may be losing some momentum. But underneath the encouraging headline figure lies a more complicated—and potentially more painful—story for Filipino households. The Philippine Statistics Authority said headline inflation slowed to 6.1% in August from 6.2% in July, primarily because food, electricity and other household costs rose more slowly.

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