Category: Business

Business

Cathay Pacific Cancels Dubai and Riyadh Flights Until December as Middle East Tensions Disrupt Travel Again

HONG KONG — Cathay Pacific has extended the cancellation of its passenger flights to Dubai and Riyadh until the end of November, dealing another blow to travellers as renewed tensions in the Middle East continue to disrupt international aviation. Hong Kong's flagship carrier said its passenger services to the two major Middle Eastern destinations have been cancelled up to and including Nov. 30, 2026. The announcement means affected flights will remain suspended until at least Dec. 1, unless th

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Business

Willy Keng’s Century Peak Bleeds ₱270M as Mining Sales Vanish—Can Cement and Shareholder Cash Save It?

Century Peak Holdings Corp., controlled by businessman Willy Keng, plunged to a ₱269.8 million net loss in the first half of 2026 after its mining business generated zero sales and its remaining revenue source—the cement business—struggled to cover costs. The latest financial results paint a worsening picture for the listed company, with consolidated revenue collapsing by more than half while losses accelerated sharply. Century Peak reported ₱599.36 million in gross revenue for the six months

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Business

US Investigated Him Over Venezuelan Oil Money — Now the Pentagon Has a 35% Stake in His Company

CARACAS/MIAMI — Until recently, Venezuelan billionaire Alejandro Betancourt was reportedly the subject of US money-laundering investigations involving funds allegedly embezzled from Venezuela's state oil company. Now, he has become one of Washington's most important partners in a sweeping new agreement involving some of the world's largest oil reserves. The extraordinary reversal has placed Betancourt — a businessman with a long history of controversy, political connections and international l

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Business

She Chose Freelancing After Becoming a Mum — Why It Still Feels Like the “Worst of Both Worlds”

SINGAPORE — For some mothers, returning to work after having children can feel like walking into a no-win situation. Work full-time and you may be accused of choosing your career over your children. Work freelance and you may be viewed as not being committed enough to a “real” career. That is the dilemma described by Singapore-based writer Priyanka Elhence, who argues that motherhood should not automatically mean giving up professional ambitions — or living under a constant cloud of guilt. A

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Business

IPM’s Garbage Business Makes More Money—So Why Did It Still Lose ₱15 Million?

The listed company, whose core environmental-services operations are largely carried out through subsidiary Basic Environmental Systems & Technologies Inc. (BEST), reversed from a ₱11.59 million net profit in the same period last year. IPM’s latest financial report showed that service income rose 3 percent to ₱122.30 million in the first six months of 2026 from ₱118.76 million a year earlier. But the increase was overwhelmed by expenses. Cost of services surged 35.8 percent to about ₱118.65 mi

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Business

LG Family Feud Takes Another Turn: Court Rejects Koo Kwang-mo Adoption Break — What Happens Next?

SEOUL — A bitter family dispute inside South Korea’s LG Group has taken another dramatic turn after a Seoul court rejected a legal attempt to sever the adoption relationship between LG Group Chairman Koo Kwang-mo and his adoptive mother, Kim Young-sik. The Seoul Family Court on Sept. 3 dismissed Kim’s petition seeking judicial dissolution of her adoptive relationship with Koo. The court did not disclose its specific reasoning when the ruling was announced. The decision means Koo Kwang-mo’s leg

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Business

Singapore Investors Are Being Lured Into “Hot Stock” Chats — Then the Prices Suddenly Collapse

SINGAPORE — A familiar investment scam is making a comeback — and Singapore Police are warning investors to be especially careful when strangers or online “trading experts” promise a little-known stock is about to surge. At least 21 cases of suspected “pump-and-dump” stock market manipulation scams have been reported since July 2026, according to an advisory issued by the Singapore Police Force on Sept. 5. The victims were allegedly persuaded to buy shares in companies listed on the Hong Kong

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Business

Wall Street Is Getting Nervous About AI Stocks — The Next Move Could Change the Market

Wall Street is still betting heavily on artificial intelligence, but investors are becoming far less willing to reward AI companies simply for posting impressive numbers. That shift became increasingly visible last week as rising oil prices, higher Treasury yields and renewed inflation concerns pushed investors toward more defensive positions — even as the broader U.S. stock market managed to finish the week higher. The S&P 500 gained about 0.1% for the week, while the Nasdaq Composite advance

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Business

AI Songs Are Taking Over Streaming Platforms — Now Spotify, Tidal and the Music Industry Are Fighting Back

Artificial intelligence is changing how music is created, but the backlash against fully AI-generated songs is becoming impossible for the music industry to ignore. Streaming platforms and music organizations are now moving toward stricter labeling, reduced monetization and tighter chart eligibility rules as concerns grow over transparency, streaming fraud and the use of artists’ work to train AI systems. The debate has shifted from whether AI belongs in music to a much bigger question: Should

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Business

South Korea’s Won Surges, But Companies Are Hoarding Dollars — Here’s What’s Really Happening

South Korea’s won has staged a dramatic recovery against the U.S. dollar, but instead of rushing to convert their dollar holdings, Korean companies are building up their foreign-currency deposits to record levels. Dollar deposits at five major South Korean banks — KB Kookmin, Shinhan, Hana, Woori and NH NongHyup — reached approximately $76.98 billion as of Sept. 3, the highest level since the banks began compiling comparable data in May 2021, according to financial industry data reported by Yon

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