Category: Business

Business

Japan’s Food Tax Cut Is Creating a New Frozen-Food Boom

Japan’s planned reduction in the consumption tax on food is already prompting companies to rethink how Japanese households may spend their grocery budgets — and frozen food is emerging as one of the businesses looking to benefit. The Japanese government has approved a plan to reduce the consumption tax on food and beverages from 8% to 1% for two years beginning in April 2027. The policy is intended to ease the pressure of rising living costs, while the government prepares a longer-term income-l

September 3, 2026

Business

Zelensky Warns Russian Airspace Is Becoming “Completely Unsafe” as Drone Attacks Escalate

Ukrainian President Volodymyr Zelenskyy has issued a stark warning to airlines, insurers and aviation authorities, saying Russian airspace is becoming increasingly dangerous as Ukraine expands its long-range drone operations inside Russia. In his Sept. 1 video address, Zelenskyy said the growing presence of Ukrainian drones means airlines and other aviation operators need to reconsider the risks of using Russian airspace and major Russian airports. He stressed that Ukraine does not intend to t

September 3, 2026

Business

Singapore Airlines to Unveil New First and Business Class Seats on Nov 7 Ahead of 2027 Rollout

Singapore Airlines is preparing to pull back the curtain on its highly anticipated new First Class and Business Class cabins, giving selected frequent flyers an exclusive first look on Nov 7. The preview will take place at Marina Bay Sands Expo & Convention Centre in Singapore, ahead of the planned introduction of the new cabins on the airline’s Airbus A350-900 fleet in the first quarter of 2027. The unveiling is part of Singapore Airlines’ massive S$1.1 billion programme to upgrade the cabins

September 3, 2026

Business

Malaysia-Registered Lorry Declared “Corrugated Paper” — Singapore Officers Found More Than 10,400 Vapes and Pods

A routine cargo declaration at Tuas Checkpoint turned into a major contraband discovery after Singapore authorities found more than 10,400 vaporisers and vape pods concealed inside a Malaysia-registered lorry. The lorry entered Singapore on Aug. 20, 2026, with its consignment declared as corrugated paper. But an ICA image analyst spotted anomalies in the vehicle’s scanned image, triggering a more detailed physical inspection. What officers found During the inspection, Immigration and Checkpo

September 3, 2026

Business

Thai Jewellers Push India to Lift Import Curbs — A Trade Fight Is Growing Behind the Glitter

Thailand’s jewellery industry is pressing India to reconsider restrictions on precious-metal jewellery imports, warning that tighter trade rules could disrupt a long-standing commercial relationship between the two countries. The dispute comes after India introduced tighter controls on jewellery imports in 2026, particularly products covered by ASEAN trade arrangements. The measures require importers of covered jewellery to obtain government authorization, while exemptions remain for certain ex

September 2, 2026

Business

NIO Narrows Q2 Loss by 89% as EV Sales Surge, Signaling Major Turnaround for Chinese EV Maker

SHANGHAI — Chinese electric vehicle maker NIO dramatically narrowed its second-quarter net loss by nearly 90% from a year earlier, fueled by surging vehicle sales, stronger revenue and improving margins. NIO reported a net loss of 528 million yuan (US$77.8 million) for the second quarter of 2026, an 89.4% improvement from the 4.99 billion yuan loss recorded a year earlier. However, the quarterly loss widened 59% from the first quarter, highlighting that the company's path toward sustained profi

September 2, 2026

Business

Aster Expands Singapore Crude Storage by 1.3 Million Barrels in Major Energy Hub Push

SINGAPORE — Aster is expanding Singapore's crude oil storage capacity by more than 1.3 million barrels, marking a significant new investment in the city-state's energy infrastructure and reinforcing its position as one of Asia's most important oil trading hubs. The expansion comes with the launch of Aster Port & Terminals (APT), a new storage and logistics business that will consolidate the company's marine, terminal and storage infrastructure into a commercial platform serving both Aster and t

September 2, 2026

Business

Singapore Firms Face Growing Payment Delays as Customer Defaults Rise

Singapore’s businesses are facing a worrying deterioration in payment discipline, with nearly half reporting that customers are taking longer to pay—raising fresh concerns about cash flow and credit risk even as the economy continues to grow. According to Coface’s APAC Payment Survey 2026, 49% of Singapore respondents said payment delays became more frequent over the past year, more than twice the 21% who reported an improvement. Another 42% said delays had become more severe. The survey, cond

September 2, 2026

Business

Chevron Makes US$7 Billion Bet on Venezuela Oil as US Pushes Major Energy Expansion

CARACAS, Venezuela — US energy giant Chevron is making a major new bet on Venezuela, announcing plans to invest more than US$7 billion over the next five years to dramatically expand oil production in a country sitting on some of the world's largest petroleum reserves. The ambitious plan aims to more than double Chevron's Venezuelan production to approximately 600,000 barrels per day, marking one of the most significant investments yet in the country's struggling energy industry. Chevron said

September 2, 2026

Business

Inner Mongolia Wants Beijing Homebuyers — With Cheaper Houses and a 1.5-Hour Train Ride

BEIJING — What if living hundreds of kilometres from Beijing did not necessarily mean giving up access to the capital? That is the pitch coming from Inner Mongolia, where local governments are actively courting Beijing residents with a combination of lower home prices, high-speed rail connections and a growing technology economy. The campaign is an unusually direct response to two problems at once: Beijing's expensive housing market and Inner Mongolia's struggling property sector. Officials f

September 2, 2026