Latest news with #MediumEnterprises
BusinessToday
4 days ago
- Business
- BusinessToday
MOF Postpones e-Invoice For Businesses Below RM5 Million To Jan 1, 2026
The government has announced the rescheduling of its e-invoicing implementation for businesses with annual income below RM5 million, stating that it acknowledges the need for sufficient preparation time and other constraints faced by taxpayers, particularly Micro, Small, and Medium Enterprises (MSMEs). The Ministry of Finance has decided that taxpayers with annual income or sales below RM500,000 are currently exempted from e-invoicing implementation. The e-invoicing implementation by phase for taxpayers with annual income or sales exceeding RM1 million up to RM5 million is postponed to January 1, 2026. The e-invoicing implementation phase for taxpayers with annual income or sales up to RM1 million is postponed to July 1, 2026 Related
The Citizen
21-05-2025
- Business
- The Citizen
Competition Commission greenlights Multichoice and Canal+ deal
Canal+ already owns 45% of Multichoice's shares, and with this deal, it intends to buy the remaining shares for R125 per share, valuing the group at R55 billion. The Competition Commission has recommended that the Competition Tribunal approve the acquisition of Multichoice by French Media giant Canal+, subject to conditions relating to public interest considerations. Canal+ already owns 45% of Multichoice's shares, and with this deal, it intends to buy the remaining shares for R125 per share, valuing the group at R55 billion. ALSO READ: Canal+ takeover: MultiChoice faces uncertain future amid strategy discrepancies Multichoice and Canal+ deal conditions 'The conditions include a package of guaranteed public interest commitments proposed by the parties,' said Multichoice. 'The package supports the participation of firms controlled by Historically Disadvantaged Persons (HDPs) and Small, Micro and Medium Enterprises (SMMEs) in the audio-visual industry in South Africa. 'This package will maintain funding for local South African general entertainment and sport content, providing local content creators with a strong foundation for future success.' Next step for Multichoice and Canal+ deal Now the ball is in the Tribunal's court to make a decision on the transaction. 'The approval of the Tribunal and the fulfilment of the remaining conditions are required for the Proposed Transaction to become unconditional.' Calvo Mawela, CEO of MultiChoice Group, said: 'The recommendation from the Competition Commission is a key step forward towards the completion of the transaction and a recognition of the strong package of public interest commitments provided by the parties.' Maxime Saada, CEO of Canal+, said: 'This represents a significant step forward in our ambition to establish a global media and entertainment company with Africa at its core. We are committed to investing in local content and supporting South Africa's creative and sports ecosystems.' ALSO READ: MultiChoice profit nosedives with huge decline in subscribers Commission and Tribunal The Competition Commission is an independent adjudicative body established to regulate competition between firms in the market. The Competition Tribunal is an independent adjudicative body that adjudicates on matters referred to it by the Competition Commission. The Commission is the investigating and prosecuting agency in the competition regime, while the Tribunal is the court. Weak performance Dstv, operated by Multichoice, has seen its subscribers decline from more than 23 million to 19.3 million in less than two years. The group announced earlier this year that the challenging consumer environment has resulted in a decline in subscribers and limited revenue growth. 'The group was navigating unprecedented external adversities, including macro-economic headwinds, as well as disrupted power supply and severe currency depreciation in some of its key markets in the Rest of Africa.' DStv price increases DStv has announced price adjustments across its packages, effective 1 April 2025: Premium: From R929 to R979 (+R50) Compact Plus: From R619 to R659 (+R40) Compact: From R469 to R479 (+R10) Family: From R329 to R339 (+R10) Access: From R139 to R150 (+R11) EasyView: From R29 to R30 (+R1) Access Fees: From R120 to R125 (+R5) Add Movies: From R79 to R49 (-R30) DStv Stream: No adjustment Showmax PL: From R69 to R99 (+R30) Showmax Entertainment mobile: From R45 to R50 (+R5) NOW READ: WATCH: DStv's 'R100' advert deemed misleading by regulatory board
New Indian Express
20-05-2025
- Business
- New Indian Express
DPR for Kurichi gold jewellery park complete: Minister Anbarasan
COIMBATORE: The Minister for Micro, Small, and Medium Enterprises (MSMEs), TM Anbarasan, said that a detailed project report (DPR) has been prepared and steps will be taken soon to set up a gold jewellery park at Kurichi in the city. Addressing reporters after a meeting with representatives of gold jewellery producers association, he said that the building would span 8.57 lakh square feet, in an area of 2.46 acres, in Kurichi-Sidco Industrial Estate. "Chief Minister MK Stalin had announced last November that a gold jewellery park would be set up at the Sidco Industrial Estate at Rs 126 crore. Subsequently, we have completed the DPR. The park includes gold jewellery workshops, a general facility centre for gold jewellery manufacturing, 3D printing and laser cutting facilities, Hallmark quality testing lab. The project also has various special features like a security vault, state-of-the-art surveillance, exhibition hall, conference hall, a training centre and a parking lot," he said. 18 representatives of the gold jewellery manufacturers association participated in the consultative meeting and their suggestions were heard by officials. The minister added that their will be taken into consideration by the government. Further, he said that the district has received Rs 316.54 crore with a subsidy of Rs 69.55 crore, under five types of self-employment schemes in the last four years. He added that the construction of the coir cluster at Rs 8.80 crore in Pollachi will be completed in July. and ongoing construction of Cosiema Private Industrial Estate at Solavampalayam at Rs 18.06 crore will be completed in two months. An MoU was signed in the presence of the Minister TM Anbarasan, on behalf of Si-Tarc, a firm which will set up a facility centre for EV motor testing in Kurichi at an estimated cost of Rs 9.97 crore.
Hi Dubai
28-04-2025
- Business
- Hi Dubai
UAE Council for Entrepreneurship Strengthens National Support for Startups
The UAE Council for Entrepreneurship has wrapped up its second meeting of the year, chaired by Alia bint Abdulla Al Mazrouei, Minister of State for Entrepreneurship. The session focused on advancing the country's entrepreneurial ecosystem and aligning with the 'We the UAE 2031' vision. Council members, including representatives from federal and local governments, economic development departments, and key entrepreneurial funds, discussed progress on initiatives designed to foster innovation and business growth. Central to the discussions were updates on the Federal Law No. 2 of 2014 on Small and Medium Enterprises (SMEs), the development of a unified database for entrepreneurs, and improved coordination among local entities to support the national startup scene. Al Mazrouei emphasized the ongoing development of strategies to enhance collaboration between relevant organizations and programs, aiming to boost the competitiveness of UAE businesses. The Council is committed to expanding the entrepreneurial base and preparing businesses for future opportunities, including new partnerships and investment avenues. Key topics also included support for youth-led innovation through the Youth Entrepreneurship Council Strategy, preparations for the National Forum for Government Procurement, and enhancing the UAE's representation at international entrepreneurial events in 2025. Additionally, the Council reviewed progress on the National Agenda for Entrepreneurship and SMEs, which focuses on increasing the contribution of SMEs to the national GDP, promoting business ease, digital transformation, and fostering access to finance and talent. The goal is to position the UAE as a global leader in entrepreneurship while driving innovation and productivity in the sector. News Source: Emirates News Agency
Jordan Times
03-03-2025
- Business
- Jordan Times
Rethinking aid: Shifting toward smarter development financing
It is becoming very clear that the global aid landscape is undergoing a seismic shift. Following the termination of over 10,000 USAID projects worldwide, the UK has now slashed its aid budget from 0.5% to just 0.3% of GDP—a cut worth $7.6 billion a year. This is not an isolated event but part of a broader trend. Europe is expected to follow suit, putting further pressure on global development funding. This shift is driven by a combination of factors, including the rise of right-wing politics in Western countries, increased defense spending, and mounting deficit and public debt. As governments grapple with budget constraints, foreign aid—an area with limited domestic political support—has become an easy target for cuts. What was once an essential pillar of international relations is now viewed as an expendable line item in national budgets. This is the new normal. For aid-reliant countries and for global development organizations, this changing global reality requires an urgent and bold rethinking of economic and social development funding strategies. Jordan has long depended on foreign assistance to support vital sectors, including infrastructure, health, and education. With limited natural resources, growing public debt and geopolitical challenges, foreign aid has played a pivotal role in stabilizing the economy. However, given the recent trend of declining aid from Western donors, it is imperative to attract alternative sources of funding that can drive sustainable development. The country must now pivot toward more innovative financing strategies to ensure long-term economic resilience and self-reliance. Development finance institutions now play an increasingly vital role in mobilizing capital for development projects. Instead of relying solely on grants, financial instruments such as blended finance, impact bonds, and risk-sharing mechanisms are being used to attract commercial investment. Blended finance combines public aid with private sector funding to de-risk projects and make them more attractive to investors. Impact bonds allow private investors to finance development initiatives upfront and receive repayment based on the project's success. Loan Guarantees and risk-sharing mechanisms further lower the barriers for private sector participation in high-risk sectors such as infrastructure, agriculture, and digital transformation. A successful example of this approach has been adopted by the United Nations Capital Development Fund (UNCDF), which has pioneered innovative financing models to catalyze private sector investment in emerging economies. In countries across Africa and Asia, UNCDF has successfully leveraged small amounts of donor-funded grants to unlock significantly larger pools of private capital for essential infrastructure and business development. For example, the UNCDF Blended Finance Investment Vehicle for Small and Medium Enterprises (BUILD Fund) was created by in partnership with Bamboo Capital Partners. The fund uses concessional finance (grants, low-interest loans and guarantees) to attract commercial investment into small businesses operating in developing economies such as Uganda, Senegal, and Nepal. By demonstrating financial viability and reducing risks for investors, the program successfully mobilized private investment into commercially viable projects. The model proved that a well-structured financing mechanism can mobilize limited foreign aid and public funding to create a 'multiplier- effect', attracting commercial investments that would otherwise hesitate to enter underserved markets and risky ventures. Jordan can apply similar models to unlock investment in key sectors such as energy, digital infrastructure, and sustainable tourism. Expanding public-private partnerships where the Government and international donors can collaborate with private investors to co-finance infrastructure, health, and education projects providing sustainable solutions in these areas. With dwindling external assistance, fostering stronger collaboration between governments, international development organizations and the private sector has become crucial going forward. Engaging the Jordanian diaspora in investment projects could also create new streams of capital for the national development effort. Many Jordanians abroad are embedded into vibrant socio-economic networks and have the financial capacity and willingness to contribute to the country's growth, but the right investment frameworks, incentives schemes and well-established communication channels must be in place to facilitate their participation. At the same time, Philanthropic foundations are also shifting from traditional grants to more strategic investments. Mission-related investments use foundation endowments to fund businesses aligned with their development goals. Meanwhile Businesses are increasingly incorporating development goals into their investment strategies, moving beyond Corporate Social Responsibility (CSR) towards Corporate Social Investment (CSI).Crowdfunding is another financing mechanism that can play a significant role in supporting entrepreneurs and social these financing mechanisms are viable tools to effectively deploy the shrinking aid to attract private investment and create a multiplier-effect capable of addressing the gap in project financing and economic development. Another key factor in achieving financial independence is fostering a dynamic investment ecosystem that encourages venture capital, angel investors, and financial institutions to support small businesses and technology-driven enterprises. A strong entrepreneurial environment will not only create new jobs but also help diversify Jordan's economy, making it less vulnerable to external funding fluctuations. The decline in foreign aid presents both a challenge and an opportunity. Jordan's future economic resilience depends on how effectively it can transition from aid dependency to a more diversified and sustainable financing model. By embracing innovative financing strategies and fostering a stronger private sector-led approach, Jordan can ensure long-term economic stability and reduce reliance on unpredictable foreign aid. This is not just a shift in financial strategy—it is a necessary evolution for Jordan's economic sovereignty. The path forward requires bold policy decisions, innovative financing mechanisms, stronger investor confidence, and a commitment to leveraging both local and global capital in new and creative ways. The critical question is no longer about how much aid Jordan will receive in the future but rather how effectively the country can mobilize its resources to drive sustainable growth. Jordan stands at a crossroads, the time to act is now.
