Category: Business

Business

Record 201 Million-Dollar HDB Flats Sold in August — What Changed After Singapore Removed the 15-Month Wait-Out Rule?

SINGAPORE — September 5, 2026 — Singapore’s million-dollar HDB resale market has crossed a psychological milestone. A record 201 Housing and Development Board flats changed hands for at least S$1 million in August, the first time the monthly tally has exceeded 200. The figure was up from 187 million-dollar transactions in July and surpassed the previous record of 188 set in June. Million-dollar flats accounted for about 8% of all HDB resale transactions in August. The surge comes just weeks a

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Business

BIR Loses ₱78.3M VAT Fight vs. Lamborghini-Bentley Dealer—But the Court’s Reasoning Goes Beyond the Tax Bill

The Bureau of Internal Revenue (BIR) has lost its bid to collect ₱78.32 million in value-added tax (VAT) assessments from Euro Autocars Inc., the company doing business as Lamborghini Manila and Bentley Manila, after the Court of Tax Appeals (CTA) ruled that the government’s collection period had already expired. The CTA Special First Division ruled that the BIR could no longer enforce the assessment covering Euro Autocars’ transactions from January to June 2014. The decision, promulgated on A

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Business

‘I Neglected Him When He Was Young’: Eddie Teo Reveals the Family Sacrifice Behind a 56-Year Public Service Career

SINGAPORE — September 5, 2026 — Behind decades of confidential intelligence work and some of Singapore’s most senior public-service positions was a sacrifice that former Security and Intelligence Division (SID) director Eddie Teo says he still thinks about: time with his family. In an interview with the media on Aug. 13, Teo reflected candidly on the personal cost of a career that began in Singapore’s external intelligence service in 1970 and eventually took him to some of the country's highest

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Business

The Designer Behind Some of Asia’s Most Beautiful Hotels Reveals What Luxury Is Really Becoming — And It’s Not What You Think

SINGAPORE/HONG KONG — Luxury hotels are often designed to make an immediate impression. André Fu wants guests to feel something deeper. For the Hong Kong-born architect and interior designer, the future of luxury hospitality is increasingly less about spectacle and more about comfort, atmosphere, authenticity and a strong sense of place. Fu has become one of Asia's most recognizable names in hospitality design, with a portfolio spanning Hong Kong, Singapore, Bangkok, Kyoto, London and other in

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Business

Robina Gokongwei Bet on an “Underdog” Most People Overlooked—What Happened to Robinsons Retail Next?

MANILA, Philippines — Before Robinsons Retail Holdings Inc. became one of the Philippines’ biggest multi-format retailers, it was, in the words of chairman Robina Gokongwei-Pe, an unlikely contender that not everyone believed would succeed. Gokongwei-Pe recently drew a parallel between that early experience and her decision to support the University of the Philippines (UP) Fighting Maroons when the basketball team was struggling. Her message was simple: sometimes, the biggest opportunities are

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Business

DepEd Is Changing Scouting in Philippine Schools—And the Skills Learners May Gain Go Far Beyond Badges

MANILA, Philippines — Scouting in Philippine schools could be headed for a major upgrade as the Department of Education (DepEd) moves to modernize its policies and place greater emphasis on leadership, resilience, safety, community service and practical skills that learners can use beyond the classroom. Education Secretary Sonny Angara said DepEd is working to make scouting more inclusive and responsive to the challenges young Filipinos may encounter in real life. “We are modernizing these pol

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Business

Dollar Slides as Yen Surges 2.4% in Best Week Since July — But the Bigger Shock May Still Be Coming

The Japanese yen is staging a powerful comeback against the U.S. dollar, posting its strongest weekly performance since July as traders increasingly bet that the Bank of Japan could accelerate its interest-rate normalization. The yen gained about 2.4% against the dollar for the week, according to The Japan Times, marking a sharp reversal for a currency that had been battered to a four-decade low just weeks ago. The rally intensified after the dollar-yen exchange rate moved sharply lower during

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Business

Pawnshop Break-In Foiled in Tarlac: Alarm Alert Leads Police Straight to 8 Suspects

SANTA IGNACIA, TARLAC — What could have become a major pawnshop robbery was stopped after a security alarm triggered a rapid police response in Santa Ignacia, Tarlac, leading to the arrest of eight suspected robbers. The incident happened on Friday, September 4, at an ML Lhuillier pawnshop along Romulo Highway in Barangay Poblacion West, according to the Tarlac Police Provincial Office (TPPO). Police said the suspects allegedly attempted to enter the establishment at around 10:30 a.m. The brea

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Business

US Midterms Plunge Into Mail-Voting Chaos as Trump’s New Rules Face Court Block

The 2026 U.S. midterm elections are entering a potentially disruptive new phase as the first mail-in ballots reach voters while President Donald Trump’s administration battles in court over sweeping new restrictions on how those ballots would be processed. The clash is unfolding just weeks before Election Day, raising concerns among election officials and voting-rights groups that last-minute changes could create confusion for voters and election administrators. According to Channel NewsAsia,

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Business

White House Is Quietly Reviewing Replacements for Pentagon No. 2 Steve Feinberg — But Hegseth Says He ‘Isn’t Going Anywhere’

WASHINGTON — The White House has quietly examined possible replacements for the Pentagon’s second-highest civilian official, raising the possibility of another major shakeup inside a Defense Department already dealing with leadership turnover, an expensive Iran conflict and mounting questions about America’s ability to replenish critical weapons. Three people familiar with the discussions told Reuters that the White House has reviewed potential candidates to replace Deputy Secretary of Defense

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