Category: Business

Business

Britain Just Made It Easier to Back Big Infrastructure Projects—Here’s What Changes for Investors

LONDON — Britain is changing the way it evaluates long-term public infrastructure investments, in a move the government says could make major projects more attractive and help unlock investment across the country. HM Treasury announced on September 4 that it plans to reduce the discount rate used in government appraisals from 3.5% to 3%, giving greater weight to economic and social benefits that may take decades to materialise. The change forms part of reforms to the UK's Green Book, the Treas

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Business

Panama Canal Begins Cutting Ship Crossings as El Niño Tightens Its Grip—And Global Shipping Could Feel the Shock

PANAMA CITY — The Panama Canal has begun reducing the number of ships allowed to pass through the vital waterway as worsening drought and a strengthening El Niño threaten the freshwater supplies needed to keep the canal operating. Starting September 4, 2026, daily transit capacity is being reduced from the recent level of about 36 vessels to 34 ships, with another cut to 32 vessels a day beginning September 15, according to the Panama Canal Authority (ACP). The move marks a significant warning

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Business

Widow Told Her Husband’s Death Wasn’t ‘War’ Enough for Benefits — Then the Pentagon Stepped In

WASHINGTON — The widow of a US Air Force major killed during a combat mission in Iraq says she was left stunned after being told that certain combat-related benefits were not available to her family because the United States had not officially declared its military operations against Iran a war. But after her story spread online and drew national attention, the Air Force reviewed the case and confirmed that all eligible combat-theater benefits had in fact been included in her late husband's pay

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Business

US Hits Turkish Bank Accused of Keeping Iran’s Financial Lifeline Alive — The Fallout Could Reach Far Beyond Tehran

WASHINGTON — The United States has imposed sanctions on a Turkish financial institution and two of its subsidiaries, accusing them of helping maintain an important financial channel for Iran as Washington intensifies its campaign to squeeze Tehran economically. The US Treasury Department announced on Sept. 4 that it had designated Istanbul-based Golden Global Yatirim Bankasi Anonim Sirketi, along with Golden Global Varlik Kiralama Anonim Sirketi and Golden Global Portfoy Yonetimi Anonim Sirketi

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Business

China Walks Out of Major Asian Art Festival — One Taiwan Pavilion Name Sparks a Diplomatic Storm

A major Asian art festival has been pulled into a growing China-Taiwan diplomatic dispute after Chinese artists withdrew from South Korea’s Gwangju Biennale, objecting to organizers’ decision to allow a Taiwanese exhibition to use the name “Taiwan Pavilion.” The withdrawal came just as the 16th Gwangju Biennale was preparing to open in Gwangju, South Korea. The biennale is regarded as one of Asia’s leading contemporary art events and this year’s programme includes a separate Pavilion Project fe

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Business

Glorietta and Greenbelt Are Getting Busier—But Ayala Land’s Bigger Bet Is Only Beginning

MANILA, Philippines — Ayala Land Inc. (ALI) is beginning to see the payoff from its multibillion-peso makeover of some of the country’s most established malls, with higher shopper traffic, stronger same-mall revenues and improved occupancy giving fresh momentum to its leasing business. The company’s shopping-center portfolio reached a 90% lease-out rate in the first half of 2026, up from 87% a year earlier. At the same time, same-mall revenues increased 7% while visitor footfall climbed 5%, sig

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Business

Doctor Gave Him 30 Days to Live — 8 Years Later, This Cancer Survivor Is Serving Ban Mian in Yishun

SINGAPORE — September 5, 2026 — Eight years ago, Tan Yong Cheng was preparing himself for the possibility that he might not have much time left. Today, the 48-year-old is behind the counter of Xiao Wen Ban Mian in Yishun, serving bowls of noodles to customers after surviving a devastating battle with late-stage nasopharyngeal cancer. His story began in 2018, when the former technician noticed that he was losing weight. His trousers were becoming increasingly loose, prompting him to seek medica

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Business

Pantler Patisserie Was Days Away From Closing — Then a Mystery Investor Stepped In

SINGAPORE — September 5, 2026 — Singapore dessert lovers who thought they had eaten their last Pantler pastry may have to put that goodbye on hold. The 12-year-old Japanese-French patisserie will continue operating after an unnamed investor stepped in to take over the business, saving the River Valley institution from an imminent closure. Pantler had originally planned to close on Aug. 30 after its founders said difficult market conditions had made the business unsustainable. But a wave of cu

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Business

US Jobs Surge by 162,000 in August, Beating Forecasts — Now Inflation Holds the Key to the Fed’s Next Move

WASHINGTON — September 5, 2026 — The US labour market delivered a surprise burst of strength in August, with employers adding 162,000 jobs, dramatically exceeding economists’ expectations and potentially complicating the Federal Reserve’s next interest-rate decision. The August increase was nearly triple the 56,000 jobs forecast by economists surveyed by Reuters and far above the 65,000 median expectation in a FactSet poll cited by The Associated Press. The unemployment rate remained at 4.1%.

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Business

New Condo Owners May Get Their Keys Up to 2 Months Earlier as Singapore Introduces New Virtual Inspection System

SINGAPORE — September 5, 2026 — Buying a new condominium can involve years of waiting, but Singapore’s latest construction-tech initiative could shave up to two months off the final wait for some homeowners to move in. A new Whole-of-Government Virtual Inspection (WOG VI) process allows project teams to submit 360-degree virtual scans of construction sites for regulatory checks instead of relying solely on conventional physical inspections. According to Singapore’s Building and Construction Au

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