Category: Business

Business

₱30-B DOTr Budget Boost Pushed as 149 Transport Projects Miss 2027 Funding, Mindanao Railway Left Out

MANILA, Philippines — A lawmaker is pushing Congress to add another ₱30 billion to the Department of Transportation’s proposed 2027 budget, arguing that dozens of major transport projects — including the long-delayed Mindanao Railway Project — could remain stalled unless lawmakers restore funding left out of the government’s spending plan. Cagayan de Oro 2nd District Rep. Rufus Rodriguez made the proposal during the House Committee on Appropriations’ deliberations on the DOTr budget, calling fo

September 3, 2026

Business

Singapore’s Richest Get Richer — But One Tech Giant Lost US$10.1 Billion

Singapore’s wealthiest are holding onto their fortunes even as the technology sector takes a hit, according to Forbes Asia’s 2026 Singapore’s 50 Richest list. The combined wealth of Singapore’s 50 richest people and families remained at US$239 billion (about S$303.5 billion), unchanged from last year. Yet beneath that headline figure, the fortunes of individual billionaires shifted sharply, with banking, property and retail winners offsetting major losses among tech tycoons. The latest ranking

September 3, 2026

Business

Pentagon Says Anthropic Is Still a Defense Risk — But a Federal Judge Just Ruled Its Blacklist Illegal

WASHINGTON — Just when it appeared that Anthropic had repaired its turbulent relationship with the Trump administration, the Pentagon has delivered a striking reminder that one of Washington’s most bitter artificial-intelligence battles is far from finished. Emil Michael, the U.S. under secretary of defense for research and engineering, said Thursday that Anthropic remains designated as a “Supply Chain Risk” within the Defense Department and across the U.S. defense industrial base. His stateme

September 3, 2026

Business

Sim Hui Ting Named Singapore’s Next Commissioner of Charities, Taking Over in April 2027

Singapore has announced a change in leadership for its charities and co-operative sectors, with Sim Hui Ting set to become the country’s next Commissioner of Charities and Executive Director of the Registry of Co-operative Societies. The Ministry of Culture, Community and Youth (MCCY) announced on September 3 that Sim will take over from Desmond Chin on April 1, 2027, after serving as commissioner-designate from October 1, 2026. The appointment puts an experienced charity-sector regulator back

September 3, 2026

Business

Singapore’s Growth Outlook Surges to 5% — But Economists Warn the Biggest Risks Are Still Ahead

Singapore’s economic outlook has taken a sharp turn for the better, with private-sector economists raising their 2026 growth forecast to 5%, up significantly from 3.5% just three months earlier. The upgrade reflects a stronger-than-expected first half of the year, particularly in manufacturing, exports and technology-related activity linked to the global artificial intelligence boom. But economists are also warning that Singapore’s rapid growth is not without vulnerabilities. The latest Moneta

September 3, 2026

Business

China Bets on a US$1 Trillion Sports Boom to Revive Consumer Spending and Create Jobs

China is turning to an unexpected economic engine to help boost domestic consumption: sports. Beijing has unveiled an ambitious five-year plan aimed at expanding the country's sports industry to more than 7 trillion yuan — roughly US$1.04 trillion — by 2030, nearly doubling the industry's 2024 output. Officials hope sporting events, fitness, outdoor recreation and sports-related tourism can generate new spending while supporting local businesses and employment. The strategy comes at a crucial

September 3, 2026

Business

Japan’s IPO Boom Is Losing Steam as AI, War and Higher Rates Shake Tech Startups — But the Next Wave Could Be Very Different

Japan’s once-busy IPO market is showing signs of a significant slowdown, with fewer companies choosing to go public as market volatility, higher interest rates and growing fears over artificial intelligence reshape investor appetite. The Tokyo Stock Exchange recorded just 17 new listings across its Prime, Growth and Standard markets during the first half of 2026 — roughly 30% fewer than in the same period a year earlier, according to TSE data reported by Jiji Press and The Japan Times. The slo

September 3, 2026

Business

Hongkong Land Eyes $1 Billion Tokyo Property Deals — But One Problem Could Stop the Japan Expansion

Hongkong Land is setting its sights on Japan’s booming commercial property market, exploring potential deals worth more than US$1 billion as its parent company, Jardine Matheson, accelerates a broader transformation into a more investment-focused group. The Hong Kong-based property giant is looking at major mixed-use developments in prime Tokyo locations, with potential targets combining premium offices, retail and hospitality space, according to people familiar with the discussions. The talks

September 3, 2026

Business

Five Japanese Oil Distributors Admit Diesel Price Cartel — But Prosecutors Say the Secret Meetings May Go Back More Than a Decade

TOKYO — Five major Japanese oil distributors have admitted the charges against them in a diesel price-fixing case, but prosecutors say the conduct uncovered in court may be part of a much longer pattern of industry coordination stretching back more than a decade. At their first hearing at the Tokyo District Court on Thursday, September 3, East Japan Usami, ENEOS Wing, Enex Fleet, Kitaseki and Kyoei Sekiyu all acknowledged the charges accusing them of violating Japan’s Antimonopoly Act by coordi

September 3, 2026

Business

Nepal Is Not Closed: Flood Disaster Hits Tourism, but Everest and Annapurna Remain Open

Nepal’s tourism industry is fighting to prevent one of the country’s worst natural disasters in years from becoming a nationwide tourism crisis, with tour operators urging travellers not to cancel trips to areas that remain open and operating. The appeal comes after catastrophic flash floods and mudslides struck northern Nepal on August 26, devastating communities along the Bhote Koshi and Trishuli river corridors near the Nepal-China border. As of September 3, Nepal’s Foreign Ministry said 1,2

September 3, 2026