Latest news with #ABE
New Straits Times
26-05-2025
- Business
- New Straits Times
Stronger public-private partnership key to Asean's economic resilience
KUALA LUMPUR: Asean businesses need to strengthen collaboration across public-private partnerships and among enterprises throughout the region, especially in the face of ongoing global economic uncertainty. Asean Business Advisory Council (Asean-BAC) chairman Tan Sri Nazir Razak emphasised that working together unlocks significant potential and reaffirmed their commitment to turning government aspirations into tangible results. "Policy support in certain areas would certainly help accelerate this, and we are actively advocating for it," he said during a doorstep interview following the Asean Leaders' interface with the council. He said the council had a productive engagement with Asean leaders, during which they presented 12 priority areas that were met with a positive and supportive response. "Of course, while the projects will take time to materialise, and despite the positive reception, we will still need to navigate necessary policy changes. Nonetheless, I'm very happy with the outcome of our engagement," he added. In January, Asean-BAC launched 12 initiatives and unveiled 33 partnerships, including three memoranda of understanding (MOUs), underscoring its commitment to deepening regional economic integration. Among the key initiatives is the Asean Business Entity (ABE) framework, which urges Asean governments to establish a new business category that would provide selected companies with greater operational flexibility across the region. Other major initiatives include the Asean Private Capital Market Initiatives, Asean IPO Prospectus, Asean Talent Development and Mobility, Asean Common Carbon Framework, Digital Exchange Platform Malaysia, B2B Connect Initiative, Asean Identity Initiative, and the Asean Corporate Philanthropy Framework. The Asean-BAC agenda also features the Asean Diversity, Equity and Inclusion (DEI) Collective, the Asean Sustainability Reporting Advocacy Collaborative, and both Regional and National Artificial Intelligence (AI) Engagement Platforms.
The Star
07-05-2025
- Business
- The Star
Nazir: Let's review issue of non-tariff barriers
ASEAN BAC chairman Tan Sri Nazir Razak. KUALA LUMPUR: Strengthening economic integration and regional identity amid rising global uncertainty and disruptive megatrends will be the agenda of Asean Business Advisory Council (Asean-BAC) Malaysia for 2025, says council chairman Tan Sri Nazir Razak. Speaking ahead of the Asean Leaders Summit to be held from May 26-27, Nazir said Asean must remain united, broaden its economic partnerships, optimise intra-Asean trade and investment in the face of geopolitical tensions. 'We are optimistic about Asean's prospects in 2025. We have learned from past mistakes, we now have a generation of internationalist leaders across the region, and we have built a strong platform through Asean-BAC's work since 2023,' he told a press conference yesterday. On the issue of non-tariff barriers (NTBs), Nazir emphasised that they are a widespread problem across Asean. He pointed out the strong correlation between the reduction in tariffs and the rise of NTBs, with the latest count showing 9,642 NTBs across the region. 'There is no clear enforcement mechanism to bring them down,' Nazir said. 'There is a lot of frustration from the private sector with NTBs.' He noted that NTBs could be difficult to address without direct intervention. 'This is an opportunity for us to review NTBs,' he added. Nazir also revealed that Asean has a mechanism called the Asean Assist, which allows companies to report non-tariff barriers online. However, he acknowledged that the platform has seen limited engagement due to the perception that little can be done to address these barriers. 'This is why NTBs are an area that Asean has to focus on,' Nazir stressed. Asean-BAC Malaysia is also spearheading some initiatives this year, including legacy projects expected to span multiple years. Its flagship proposal is the Asean Business Entity (ABE) – a bold effort to bypass national-level bottlenecks and enable regional integration directly at the corporate level. 'In the past, Asean had this notion of an Asean Economic Community, where by 2015 there would be a single production base with free movement of capital, trade, and skilled labour,' said Nazir. 'When 2015 came, these were not achieved, because clearly they were overly ambitious. 'It was not what Asean wanted or had the political will to do. And so we accepted that we are unable to achieve this single production base in its full model.' According to Nazir, the ABE is a practical response to this limitation. 'Since we cannot do it at the country level, why not enable it at the company level? 'It will bring significant impact in terms of enabling companies to realise Asean economies of scale in their operations.' He added that implementation would be locally defined. 'We leave it to Asean countries to define what an Asean business entity is in your country.' Other initiatives led by Asean-BAC Malaysia include efforts to deepen private capital markets, advance digital trade, and enhance talent mobility within the region. They are complemented by proposals for a common carbon market framework and a regional philanthropy structure. Asean-BAC is also supporting the development of national artificial intelligence ecosystems, harmonised sustainability reporting standards, and cross-border business collaboration through platforms like B2B Connect. Separately, Nazir praised the government's response to the US tariff threat, describing it as 'very astute'. 'Malaysia has, firstly, stayed calm. Secondly, Malaysia has engaged to figure out what is rhetoric and what is reality on the US side. Three, Malaysia has gone back to strategise. Fourthly, Malaysia will go back and negotiate,' he said.
New Straits Times
06-05-2025
- Business
- New Straits Times
IPO reforms among 12 proposals Asean-BAC to present at May Summit
KUALA LUMPUR: The Asean Business Advisory Council (Asean-BAC) is set to present its 12 strategic initiatives, including the Asean Business Entity (ABE) framework to Asean leaders at the end of May. Asean-BAC chairman Tan Sri Nazir Razak said the council meeting will coincide with the Asean Leaders' Summit, scheduled for May 26 and 27. "There will be an Asean-BAC Council meeting, and at the same time, an Asean Leaders' Summit. We will be presenting these initiatives, as well as various reports we have prepared," he said during a media briefing here today,. He said the council has already briefed Asean economic ministers, finance ministers and the respective governments. "I think the proposal was very welcomed. I think that it was good that there were comments and I always worry that people won't comment. "We had some good constructive comments from them and we will also be discussing with the Asean secretariat at the same time. "So when we present to Asean leaders, we will be able to get direct comments from them," he added. Nazir said each workstream will follow its own timeline and outcome this year, with reports such as the Asean Philanthropy Framework and private markets projects to be submitted to the leaders. "We expect that the leaders will review them with their teams, and if they find value in the proposals, they may proceed to implement them within their respective countries. "On the other hand, initiatives like the Asean initial public offering prospectus and the ABE framework require policy changes in each member country. If the leaders approve, we hope their respective ministries will begin the necessary work," he said. Nazir said the council is particularly focused on the ABE framework, which proposes a new regional business category to give companies more operational flexibility across Asean.
Daily News Egypt
03-05-2025
- Business
- Daily News Egypt
Agricultural Bank of Egypt offers 5-year livestock loans at 5% to support small farmers
The Agricultural Bank of Egypt (ABE) has signed a cooperation protocol with El Ammar Company for Livestock Development to provide subsidised financing to small-scale breeders and farmers for the purchase and rearing of genetically improved, high-yield livestock. The initiative is part of the state's broader strategy to develop livestock production, in line with President Abdel Fattah El-Sisi's directives to enhance meat and dairy output, close the food gap, and improve rural livelihoods. Under the agreement, ABE will offer loans at a reduced interest rate of 5%, specifically targeting small breeders and farmers in rural areas. The loans are intended to support the purchase of high-productivity cattle breeds that offer better returns in meat and milk production, contributing to national food security and economic empowerment in the agricultural sector. The agreement was signed by Ihab Mounir, Head of Business Development at ABE, and Mahmoud Magdy, Chairperson of El Ammar Company, in the presence of Sami Abdel Sadek, Acting Chairperson of ABE, and Magdy Abdel Azim, CEO of El Ammar Company, along with senior officials from both organisations. Under the protocol, ABE will provide accessible financing for the acquisition and feeding of local milking cows and buffaloes. Loans will be repaid through monthly instalments of no more than EGP 1,000 over a five-year term, with the remaining balance paid through annual instalments. A 12-month grace period will be granted at the beginning of the loan to reduce the financial burden on borrowers. El Ammar Company will supply 100 to 150 heads of cattle monthly and provide technical and veterinary support throughout the loan period. Sami Abdel Sadek described the partnership as a model for future collaborations with livestock suppliers and development firms across Egypt's governorates. He stressed that these efforts align with the state's objective to expand the use of genetically enhanced livestock known for their high milk yields—helping to uplift rural living standards and empower small farmers economically. He emphasised that livestock remains a primary source of income in many rural communities. The ABE acting chairperson noted that the bank has adopted a new livestock financing model that links lending directly to production. This shift involves moving from cash loans to in-kind financing through approved suppliers, ensuring that funds are directed towards their intended agricultural purposes. He highlighted several unprecedented facilitations, including the subsidised 5% interest rate, low monthly instalments, long repayment terms, and the one-year grace period—all designed to support breeders, expand the national livestock herd, reduce the food gap, and advance self-sufficiency in meat and dairy production. Magdy Abdel Azim praised ABE's supportive role and favourable loan terms, affirming El Ammar Company's commitment to providing technical support for the initiative across Egypt's governorates. In a related development, ABE hosted François Sergio, Minister of Agriculture and Livestock of Madagascar, and his accompanying delegation during an official visit to Egypt. The visit aimed to strengthen bilateral cooperation and explore ABE's experience in agricultural financing and support for small-scale farmers. Minister Sergio was briefed on the results of ABE's comprehensive development strategy, which has positioned the bank as a key institution in financing agricultural projects and associated services and industries. The delegation also toured several departments of the bank, including the newly inaugurated Data Centre, a cornerstone of ABE's plan to modernise its infrastructure and align with global banking standards. Minister Sergio expressed his appreciation for ABE's role in advancing agricultural development and affirmed that the visit would help transfer elements of the bank's successful model to Madagascar's financial system. He noted the potential for ABE's approach to support smallholder farmers in Madagascar, where 80% of the population depends on agriculture as a primary income source. Sami Abdel Sadek underscored ABE's developmental mission in supporting Egypt's national economy and advancing sustainable agricultural development in partnership with the Ministry of Agriculture and Land Reclamation. He welcomed cooperation with Madagascar and the opportunity to share ABE's expertise, consistent with Egypt's broader strategy to strengthen development partnerships across the African continent.
Daily Mail
22-04-2025
- Business
- Daily Mail
Leading sport supplement Applied Nutrition enjoys global growth through strategic retail partnerships - and Coleen Rooney's new wellness range
A leading sports nutrition brand is experiencing remarkable global growth following the appointment of high-profile ambassadors and strategic retail partnerships. Applied Nutrition's rapid expansion is being driven by an ambassador roster featuring Coleen Rooney, boxer Daniel Dubois and UFC star Paddy 'The Baddy' Pimblett, whose massive fan followings are propelling the company to new heights both in the UK and abroad. Since 2014, the business has grown from a British start-up to an international powerhouse, now present in more than 80 countries. One of the most recent developments for the brand has been the introduction of Rooney's own line of fitness products. The TV personality launched a range of nutrition supplements in collaboration with Applied Nutrition, targeting health conscious women. The collection includes protein powders, energy drinks, and other supplements aimed at providing a balanced boost for the everyday fitness enthusiast. Rooney's involvement has been a game-changer for the brand given her status as one of the UK's most high-profile media personalities. Her active ambassadorial role has helped position Applied Nutrition as a brand that resonates with both male and female consumers. Meanwhile, Pimblett, the Liverpool-born UFC fighter, famous for his larger-than-life personality and knockout performances inside the octagon, has been a major part of Applied Nutrition's success by leading the promoting the ABE (All Black Everything) pre-workout supplement, and has given the brand a serious edge in the competitive sports nutrition market. Boxing champion Daniel Dubois, whose meteoric rise in the heavyweight division has captured the attention of fans worldwide, has also recently partnered the brand and has further boosted the company's profile on a global scale. 'Paddy, Daniel, and Coleen are exceptional ambassadors who each bring a unique dimension to our brand. Paddy's dynamic personality and success in the UFC, Daniel's rising star power in boxing, and Coleen's authentic commitment to health and wellness align perfectly with what we do,' said Thomas Ryder, CEO at Applied Nutrition. 'These partnerships have enabled us to not only expand into new markets and regions but also connect with key demographics, particularly sports and fitness and wellbeing enthusiasts, as well as individuals who are passionate about living healthy, active lifestyles. 'It's crucial for us to build deeper connections with people who use our products and those who share our values of performance, well-being, and excellence, and these ambassadors help us do that in a meaningful way.' Thanks to its new wave of high-profile ambassadors, Applied Nutrition has been able to secure expanded retail partnerships with major outlets. In the UK, the brand has deepened its presence with prominent retailers like Holland & Barrett, while in the US, it has struck deals with General Nutrition Centers. The company's recent flotation on the UK stock market was another key milestone in its rapid rise. Launched in October 2024, the flotation was met with great success, valuing the company at £350 million.
