Category: Business

Business

200 Davao Steel Workers Seek Help After Plant Raid—But the Bigger Problem May Just Be Starting

DAVAO CITY — The fallout from the controversial raid on Davao Mighty Steel Corporation is now hitting the workers hardest, with around 200 employees turning to the Davao City government for assistance after the plant was shut down. The workers went to Davao City Hall on August 17 to raise concerns over the closure of their workplace, unpaid wages and the loss of their source of income, according to the Philippine Information Agency. They were received by Davao City First District Councilor Pam

August 19, 2026

Business

ROMBLON GOES SMART: DOST Brings E-Trikes, Solar Charging, Clean Water and AI Technology to the Island Province — Here’s What’s Next

ROMBLON — Romblon is stepping up its push to become a smarter and more sustainable island province as local officials and communities work with the Department of Science and Technology (DOST) to bring science, technology and innovation closer to residents. The initiative forms part of DOST’s Smart and Sustainable Communities Program (SSCP), a nationwide effort designed to help local governments use technology, innovation and data-driven solutions to improve public services, strengthen local eco

August 19, 2026

Business

Japan’s Bond Market Is Breaking Its Old Rules—And Tokyo May Be Running Out of Options

TOKYO — Japan’s bond market is sending an increasingly uncomfortable warning to Prime Minister Sanae Takaichi’s government: ambitious spending and tax-cut plans are becoming harder to finance as borrowing costs surge. Japan’s benchmark 10-year government bond yield has climbed to levels not seen since the 1990s, briefly approaching the psychologically important 3% threshold. Reuters reported that the yield reached 2.945%, its highest level since September 1996, as investors reassessed Japan’s i

August 19, 2026

Business

SK hynix Drops a $28.6 Billion Bombshell — But the Bigger Move May Still Be Coming

SEOUL — South Korean memory-chip giant SK hynix is making one of its boldest moves yet to reward shareholders, approving plans to buy back and cancel approximately ₩40 trillion (US$28.6 billion) worth of its own shares. The decision, announced Wednesday, August 19, comes as SK hynix rides an unprecedented wave of demand for high-bandwidth memory (HBM) chips used in artificial-intelligence systems. The company said the move is aimed at enhancing shareholder value. It also raised the bar for its

August 19, 2026

Business

Singapore’s Last “Pure” Stamp Shop Is Still Open — But Its 81-Year-Old Owner Says Its Future Is Uncertain

For decades, Singaporeans could walk into a post office, buy stamps and perhaps start a collection of their own. Today, that world is disappearing. At the heart of Singapore’s shrinking stamp-collecting scene is 81-year-old Tan Chun Lim, the owner of CS Philatelic Agency at Peninsula Shopping Centre — a business he has built around a passion that began when he was just 11. With roughly 70 years of collecting and dealing behind him, Tan is now believed to run Singapore’s last “pure stamp shop”

August 19, 2026

Business

PETRONAS CHEMICALS STAGES SHOCK PROFIT TURNAROUND — BUT THE REAL TEST MAY JUST BE BEGINNING

KUALA LUMPUR, Aug. 19, 2026 — PETRONAS Chemicals Group Berhad (PCG) has delivered a dramatic earnings turnaround, swinging back into profit in the second quarter of 2026 even as the Malaysian petrochemical giant warns that difficult market conditions could continue weighing on its business for the rest of the year. PCG reported RM414 million in net profit for the quarter ended June 2026, reversing a RM1.08 billion net loss recorded during the same period last year. Revenue also climbed sharply

August 19, 2026

Business

Philippines Unites Ube Industry in Push to Make Ube a Major Export

QUEZON CITY, Philippines — The Philippines is taking a major step toward turning one of its most recognizable food crops into a globally competitive agricultural commodity as the Department of Agriculture (DA) and ube industry stakeholders unite under a new nationwide organization. The newly established United Ube PH Association Inc. brings together farmers, cooperatives, growers, processors, traders, exporters, researchers, academe representatives and government agencies from Luzon, Visayas an

August 19, 2026

Business

P194-M Cigarette Smuggling Bust Rocks Sulu: Navy Intercepts Massive Shipment—But Who Was Behind It?

The Philippine Navy has intensified its crackdown on maritime smuggling in Western Mindanao after intercepting a vessel carrying more than P170 million worth of undocumented foreign-brand cigarettes off Parang, Sulu—bringing the total value of suspected smuggled cigarettes seized in the province to roughly P194 million in less than a month. The latest operation took place on August 14, 2026, in the waters off Buton Mahablo in Parang, Sulu, where personnel of the Naval Task Force 61 conducted a

August 19, 2026

Business

Fishermen Become PDEA’s Eyes at Sea—But What They’re Finding in Quezon’s Waters Has Authorities Worried

LUCENA CITY, Quezon — Fishermen in Quezon are being encouraged to become the government’s frontline partners in detecting possible illegal drug activity at sea, as authorities warn that drug syndicates may be using coastal waters to move or recover narcotics. The Philippine Drug Enforcement Agency (PDEA) made the call during an Empathy Dialogue with Fisherfolk of Lucena City held on Aug. 11 at the Lucena Convention Center. PDEA Director General Isagani R. Nerez said fisherfolk need to understa

August 19, 2026

Business

Asian Stocks Plunge as AI and Chip Shares Take Another Hit — But the Bigger Market Threat May Be Just Beginning

Asian stock markets came under renewed pressure Wednesday, Aug. 19, as technology and semiconductor shares led a broad regional selloff, extending Wall Street’s retreat and raising fresh questions about the durability of the AI-driven market rally. The downturn was fueled by a combination of surging government bond yields, higher oil prices, persistent inflation concerns and fading hopes of an agreement that would allow oil tankers to move freely through the Strait of Hormuz. South Korea take

August 19, 2026