Latest news with #MoA
Malaysian Reserve
26-05-2025
- Business
- Malaysian Reserve
ASEAN Power Grid MoA to be signed in October
By FARAH SOLHI THE ASEAN Power Grid (APG) Memorandum of Agreement (MoA) is scheduled to be signed this October, after the successful conclusion on its enhanced MoA's negotiation at the 25th Asean Economic Community Council (AECC) meeting today. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz told reporters that the APG, which would be signed at the 43rd Ministers on Energy Meeting (AMEM), is a strategic initiative in strengthening ASEAN's regional energy security, connectivity, and sustainability. 'In this context, we also welcomed ongoing work towards the establishment of the APG Financing Facility Framework, which will enhance cross-border flows of foreign direct investments (FDIs) and new funding opportunities for regional energy-related projects. 'The AEC Council also expressed full support for the convening of a joint meeting between ASEAN's Energy, Finance, and Economic Ministers in August,' he said. The enhanced APG MoA was among the 11 matters deliberated in the meeting, attended by ASEAN member states and Timor Leste today. Tengku Zafrul further highlighted several other matters raised during the meeting including Malaysia's success in completing two out of 18 Priority Economic Deliverables (PED) this year, which were the full conclusion of the ASEAN-China Free Trade Area (ACFTA) 3.0 Upgrade Negotiations and the ASEAN Trade in Goods Agreement (ATIGA) upgrade. Both upgraded agreements are scheduled to be signed at the sidelines of the upcoming 47th ASEAN Leaders' Summit in October this year, he said. 'We remain confident that these milestones will serve as pivotal enablers for ASEAN's sustained growth and competitiveness. 'The successful conclusion of these negotiations is expected to enhance the region's economic integration and generate significant economic benefits for ASEAN, as we continue to navigate an increasingly volatile global economic landscape. 'In particular, ATIGA — long regarded as the cornerstone of ASEAN's economic integration — will now feature forward-looking and commercially meaningful provisions aimed at further boosting regional trade, enhancing supply chain resilience, and promoting deeper economic integration within ASEAN,' he said. Tengku Zafrul added that the council also welcomed the full completion of Laos' 2024 PEDs which marked the successful adoption of the Roadmap on Digital Trade Standards as this milestone reflects the continued commitment in advancing the ASEAN's digital economy agenda. He also highlighted the progress of AEC Blueprint 2025 progress, as it is in its final year of completion. 'The overall implementation rate stands at a commendable 97%, comprising 75% completed measures and 22% currently in progress, as of April. The Blueprint has played a pivotal role in shaping ASEAN's economic architecture over the past decade. 'It has served as the strategic roadmap for building a highly integrated and cohesive ASEAN economy, promoting inclusive and innovation-led growth, and deepening regional connectivity and competitiveness,' he said. He added that through the Blueprint, ASEAN has made significant strides in areas such as trade liberalisation, investment facilitation, micro, small and medium enterprise (MSME) development, digital transformation, and sustainable economic initiatives. 'This impressive 97% implementation rate not only demonstrates ASEAN's collective commitment to economic integration but also reinforces the region's ability to respond to global uncertainties in a cool, calm and calculated manner,' he added. The key learnings and progress under the AEC Blueprint 2025, he further said, will serve as a solid foundation for the development of the AEC Strategic Plan 2026–2030, which will chart the region's next phase of economic growth and transformation. Tengku Zafrul added that the bloc is prepared to launch the successor to the Blueprint, which is the AEC Strategic Plan 2026–2030, which will be launched as part of the Compendium with the overarching ASEAN Community Vision 2045 at the 46th ASEAN Summit on May 26. 'The AEC Council reaffirmed support and commitment to the effective implementation of the AEC Strategic Plan, which will guide ASEAN's post-2025 economic integration agenda. 'We also look forward to the Regional Socialisation of the AEC Strategic Plan, which will be held on June 12. This session will serve as a key multi-stakeholder platform to socialise and share the economic benefits of the AEC Strategic Plan,' he said.
Time of India
24-05-2025
- Politics
- Time of India
HC allows Arya Pratinidhi Sabha to appoint heads for Gurukul Kangri till 2028
Haridwar: Uttarakhand high court has allowed the Arya Pratinidhi Sabha (APS) units of Punjab, Haryana, and Delhi, regarded as the apex governing bodies of Gurukul Kangri (Deemed to be) University, to continue appointing the university's chancellor and vice-chancellor until the end of the 2027–28 financial year. Tired of too many ads? go ad free now It dismissed a petition by Dinanath Sharma, a retired official of the varsity, who had argued that the university must follow the 2023 UGC regulations, which had revoked APS's authority over key appointments. The court cited a March 3, 2025 letter from the central govt granting the university permission to function under the UGC (Institutions Deemed to be Universities) Regulations, 2019 until March 31, 2028. This exemption allows APS to retain appointment powers that were otherwise curtailed by the 2023 regulations. In its May 21 judgment, the court observed that "without considering provisions of the UGC Act, 1956, especially the interplay between Sections 20 and 26 of the said Act, the issues raised in the writ petition cannot be decided." Respondents' counsel Ajay Veer Pundir noted that with the dismissal of Sharma's appeal, the earlier stay on the central govt's letter had been lifted. He added that the exemption is conditional and if stipulated terms are not met, the university will be required to amend its Memorandum of Association (MoA) to align with the 2023 regulations after the 2027–28 financial year. The court had initially stayed the letter's operation on May 9, scheduled a hearing for May 16, and on May 20, a two-judge bench disposed of the case and referred it to a single bench, granting Sharma liberty to seek an expedited hearing. Faculty members expressed concern over the court's decision, fearing that administrative control reverting to APS would invite political interference. "The court verdict will mark the return of the university's bad days," a faculty member said on condition of anonymity, warning that appointments could be influenced by factional interests rather than merit. Tired of too many ads? go ad free now Reacting to the verdict, Shrawan Kumar Sharma, a retired English professor of the university, said, "The MoA will have to be amended in accordance with UGC Regulations 2023. Bringing down the university's funding to less than 50% within three years is not feasible. Since that's one of the conditions for the exemption, the university will eventually have to adopt the 2023 regulations." As of now, the university continues to function without a chancellor and under an officiating vice-chancellor, according to a university official.
India.com
21-05-2025
- Business
- India.com
Stock market update: Sarveshwar Foods Approves Increase in Authorised Capital
Home Business Stock market update: Sarveshwar Foods Approves Increase in Authorised Capital – Full Details Inside Stock market update: Sarveshwar Foods Approves Increase in Authorised Capital – Full Details Inside Sarveshwar Foods entered into collaborations with select Non-Banking Financial Companies (NBFCs) to improve access to finance for farmers. Stock market- File image- For Representational purpose Stock market update: Jammu-based FMCG and food processing company Sarveshwar Foods Limited has informed the stock exchanges that its Board of Directors has approved a proposal to increase the company's authorised share capital. As per the regulatory filing, the board has cleared a resolution to raise the authorised capital from ₹120 crore to ₹160 crore, marking a significant step towards enhancing the company's financial flexibility. The proposed change will also involve an amendment to the company's Memorandum of Association (MoA) to replace the existing Clause V with the updated clause, subject to shareholder approval. 'Approved increase in authorised capital of the Company from ₹120,00,00,000 (Rupees One Hundred and Twenty Crores only), consisting of 120,00,00,000 equity shares of Re.1/- each, to ₹160,00,00,000 (Rupees One Hundred and Sixty Crores only), consisting of 160,00,00,000 equity shares of Re.1/- each, subject to members' approval,' the filing stated. Strategic Partnerships with NBFCs In a strategic move announced last year, Sarveshwar Foods entered into collaborations with select Non-Banking Financial Companies (NBFCs) to improve access to finance for farmers. The company is acting as a facilitator, linking farmers with NBFCs to support agricultural productivity and financial inclusion. Importantly, the financing arrangements are entirely between the NBFCs and the farmers, with no financial obligation or recourse to Sarveshwar Foods. Stock Market Update On the broader market front, Indian benchmark indices rebounded sharply on Wednesday following a heavy sell-off in the previous session. Investor sentiment was buoyed by strong buying in banking and blue-chip stocks, alongside positive cues from Asian markets. While BSE Sensex surged 835.2 points (1.02%) to 82,021.64, the NSE Nifty gained 262.3 points (1.06%) to reach 24,946.20. Top gainers from the Sensex pack included Sun Pharma, Bajaj Finance, UltraTech Cement, Mahindra & Mahindra, Bajaj Finserv, Tech Mahindra, HDFC Bank, and Tata Motors. For breaking news and live news updates, like us on Facebook or follow us on Twitter and Instagram. Read more on Latest Business News on More Stories
Yahoo
20-05-2025
- Business
- Yahoo
After closing in 2022, Macarons by Maddie Lu returns to Mall of America
Dirty sodas are coming to the Mall of America as Macarons by Maddie Lu reopens in the Bloomington shopping center. The macaron shop previously sold sweets at MoA up until December 2022, when it closed due to lease terms, crime, and staffing issues, it said at that time. It reentered the mall on May 16, setting up shop on Level 3 West next to Nordstrom Rack. This time, the sweets shop has added a twist, becoming the first storefront in the Mall of America to jump on the dirty soda trend. It's also adding fresh cannoli and gourmet jumbo cake pops to the menu at its new outpost. "An opportunity was sprung onto us and we couldn't say no," the shop wrote on social media. "New location, new products, and the same great tasting French Macarons that so many grew to love." While some locations have closed, owner Maddie Carlos, who has appeared on Food Network and Hulu baking competitions, still operates Something Sweet by Maddie Lu stores in Coon Rapids and Duluth.
New Straits Times
17-05-2025
- Automotive
- New Straits Times
Miros, Alpha International join forces to address sleep deprivation among commercial drivers
KUALA LUMPUR: The Malaysian Institute of Road Safety Research (Miros) has partnered with Alpha International Training & Consultancy to implement innovative road safety training programmes under a newly formalised collaboration. The partnership was formalised through the signing of a Memorandum of Agreement (MoA) at the Modern Vehicle Expert Consortium Symposium, held in conjunction with Automechanika Kuala Lumpur 2025. In a statement, Alpha International said the strategic collaboration aligns with the Transport Ministry's recent call to enhance road safety and reduce accident rates through forward-looking initiatives. The first programme under the agreement, the Certified Sleep Recovery & Management Programme, will address the often-overlooked link between sleep deprivation and road safety, particularly among commercial drivers and transport operators. Designed to raise awareness and promote behavioural change, the programme aims to equip road users with effective tools to manage fatigue on the road. Miros director-general, Associate Professor Dr Siti Zaharah Ishak, said the collaboration with Alpha International reflects a shared vision for safer roads through capacity building and innovative training. "We believe this partnership will bring tangible improvements in road safety practices at both national and regional levels," she said in the statement. The MoA was signed by Dr Siti Zaharah and Alpha International's chief executive officer, Professor Dr Louis Adaikalam, who is also the president of the Sleep Apnea Association of Malaysia. Deputy Transport Minister Datuk Hasbi Habibollah was also present to witness the signing ceremony. Meanwhile, Dr Louis described the partnership as a significant step forward in tackling critical safety issues. "Together, we aim to deliver impactful training solutions that align with evolving industry needs and contribute to Malaysia's long-term road safety objectives," he said. The initiatives under the MoA are scheduled to commence in the coming months, beginning with the launch of the sleep recovery programme.
