Latest news with #Summits
The Star
2 days ago
- Business
- The Star
Several world leaders to attend 47th Asean Summit, says Anwar
PUTRAJAYA: Several world leaders including those from Asia, Europe, Canada, the United States, Africa and Latin America are expected to attend the 47th Asean Summit in Kuala Lumpur this October, says Prime Minister Datuk Seri Anwar Ibrahim. Speaking at a meeting with the Prime Minister's Department staff here on Monday (July 21), Anwar, who is also Finance Minister, said that so far, among those who have expressed their commitment to attend are leaders from Italy, the European Union, Canada and the United States. "It (the Asean Summit) will be a major international conference for Malaysia," he said. On July 8, Anwar said several heads of government from outside Asean had confirmed their attendance at the 47th Asean Summit and Related Summits scheduled to be held from Oct 26 to 28. Among the leaders who have confirmed their attendance are Italian Prime Minister Giorgia Meloni, whom Anwar met in Rome on July 3, Brazilian President Luiz Inácio Lula da Silva and South African President Cyril Ramaphosa, who is also currently President of the G20 Group. Anwar said that his visits abroad were not for tourism, but rather in Malaysia's capacity as Asean Chair this year, apart from fulfilling invitations from several world leaders. "I am among the prime ministers who have travelled abroad the most. Coincidentally, Malaysia is Asean chairman this year," he said Expressing confidence in the services of civil servants including the national security forces based on the excellent performance shown during the recent Asean-Gulf Cooperation Council (GCC) and Asean-China Summits, Anwar is confident that the Asean Summit in October would be held successfully. "If you look at the performance (of the services) of civil servants, police, Immigration Department and airports at Asean-GCC and Asean-China, I am confident in our ability to provide the best for our country," he said. Anwar said the confidence was based on Malaysia's improved ranking in the World Competitiveness Report by the Institute for Management Development, from 34th in 2024 to 23rd in 2025. The Prime Minister said the improved ranking also reflected the international community's confidence in Malaysia's administrative capabilities. The 46th Asean Summit held in Kuala Lumpur in May also featured the second Asean GCC as well as the first-ever Asean-GCC-China Summit. Malaysia as the 2025 Asean Chairmanship with the theme 'Inclusivity and Sustainability' hosted the 46th Asean Summit and related meetings from May 22 to 27. – Bernama
Barnama
2 days ago
- Business
- Barnama
Several World Leaders State Commitment To Attend 47th ASEAN Summit- PM Anwar
GENERAL PUTRAJAYA, July 21 (Bernama) -- Several world leaders including those from Asia, Europe, Canada, the United States, Africa and Latin America are expected to attend the 47th ASEAN Summit scheduled to be held in Kuala Lumpur this October, said Prime Minister Datuk Seri Anwar Ibrahim. Speaking at the Prime Minister's Meeting with the Prime Minister's Department staff here today, Anwar, who is also the Finance Minister, said that so far, among those who have expressed their commitment to attend are leaders from Italy, the European Union, Canada and the United States. "It (the ASEAN Summit) will be a major international conference for Malaysia," he said. On July 8, Anwar said several heads of government from outside ASEAN had confirmed their attendance at the 47th ASEAN Summit and Related Summits scheduled to be held from Oct 26 to 28. Among the leaders who have confirmed their attendance are Italian Prime Minister Giorgia Meloni, whom Anwar met in Rome on July 3, Brazilian President Luiz Inácio Lula da Silva and South African President Cyril Ramaphosa, who currently holds the position of President of the G20 Group. Anwar also stressed that his visit abroad was not just for tourism, but rather in Malaysia's capacity as ASEAN Chairman this year, apart from fulfilling invitations from several world leaders. "I am among the Prime Ministers who have travelled abroad the most. Coincidentally, Malaysia is ASEAN Chairman this year," he said Expressing confidence in the services of civil servants including the national security forces based on the excellent performance shown during the recent ASEAN-Gulf Cooperation Council (GCC) and ASEAN-China Summits, Anwar is confident that the ASEAN Summit in October will be held successfully. 'If you look at the performance (of the services) of civil servants, police, Immigration Department and airports at ASEAN-GCC and ASEAN-China, I am confident in our ability to provide the best for our country,' he said.
Time of India
09-07-2025
- Business
- Time of India
ET Make in India SME Regional Summits: This bank is revolutionising MSME financing
Live Events On June 26, the ET Make in India SME Regional Summits made their fourth pitstop of 2025 in Thane. The Summits are India's premier platform for connecting with the country's micro, small, and medium enterprises (MSMEs) at a hyperlocal level, bringing together enterprises, enablers, industry heavyweights, and policymakers. The outcome is targeted networking opportunities that recognise the unique strengths and challenges of industrial the theme 'Thane means business: Manufacturing excellence, entrepreneurial drive', this leg of the ET Make in India SME Regional Summit focussed on one of India's most strategically-positioned clusters. Thane benefits from its proximity to Mumbai, ports, airports, and the financial institutions that are crucial for MSME growth and export competitiveness. It also has a multi-sectoral industrial base spanning pharmaceutical, chemical, and engineering companies. According to data from the Udyam portal, this district is home to over 161,000 registered MSMEsIn the illuminating fireside chat, 'Catalysing 'Make in India' Growth: IDBI Bank's Strategic Imperatives for Empowering MSMEs', the bank's Executive Director Nagaraj Garla spoke about what his institution is trying to do differently in the MSME Bank brings something unique to MSME financing: a dual legacy that most banks don't have. With roots in development finance and a sharp focus on MSMEs, the bank isn't just lending money; it's channelling decades of understanding about what makes small businesses tick."MSMEs form the economic backbone of our country. Which is why we provide an environment of opportunities for them," Garla told the assembled bank's development finance heritage means it understands that MSMEs aren't just smaller versions of large corporations. They have different needs, challenges, and cash flow patterns. This understanding is translating into solutions that actually work for small added that IDBI Bank isn't just digitising existing processes, but reimagining what banking can look like for MSMEs. Take its collection and payments mechanism, for instance.'We have a sophisticated collection mechanism, where you virtually need not maintain any accounts registered," he said. This system captures all cash flows, tracks payments, and even sends automated SMS reminders to fee about what this means for a micro enterprise. Instead of maintaining complex records and chasing payments manually, the system handles everything automatically. The entrepreneur gets detailed Management Information System reports without the administrative headache. It's banking that adapts to the business, not the other way many banks talk about AI as a buzzword, IDBI Bank is using it to solve real problems. Its data analytics tools anticipate customer needs. As Garla revealed, "We use AI analytics tools to understand the behaviour of the customer.'This isn't about pushing more products, but about approaching customers before they even realise they need financing. The system analyses patterns, identifies growth opportunities, and proactively offers solutions. It's like having a financial advisor who never importantly, IDBI Bank recognises that MSMEs need more than just money. It runs training programmes for micro-entrepreneurs, offering everything from three-day bootcamps to week-long courses. IDBI has also partnered with the Entrepreneur Development Institute of India, where they're a major shareholder, supporting programmes that include startup is banking as ecosystem building: not just providing capital, but creating the infrastructure for small business Garla also spoke about IDBI Bank's dedicated MSME teams. These aren't generalist bankers trying to understand local business challenges, but specialists who speak the language of MSMEs, understand their seasonal patterns, and know how to structure solutions that actually work."If you have a separate team such as this, they will also know how to properly manage currency risks when it comes to exports," he economic transformation is more about mindset than it is about technology or processes. IDBI Bank's approach to MSMEs is a reflection of this, Garla concluded at the ET Make in India SME Regional Summit- Thane. Its approach offers a glimpse of what banking could look like when it truly serves the small business community. It's not just about lending money, but about building the financial infrastructure that helps MSMEs thrive.
Time of India
09-07-2025
- Business
- Time of India
ET Make in India SME Regional Summits: This insurer is the safety net every MSME needs
Live Events The ET Make in India SME Regional Summits reached their fourth destination this year in Thane, on June 26. As India's leading forum for engaging with the nation's MSMEs at the local level, the Summits create connections between businesses, facilitators, major industry players, and government officials, resulting in focused networking that addresses the specific needs of different industrial the banner 'Thane means business: Manufacturing excellence, entrepreneurial drive', this edition highlighted one of India's most advantageously-located industrial hubs. Located near Mumbai, Thane has easy access to the infrastructure and financial services essential for MSME development and trade competitiveness. The region hosts a diverse industrial ecosystem, chiefly enterprises engaged in chemical, pharmaceutical, and there are drawbacks too. Thane is vulnerable to unforeseen events such as incessant rainfall and floods. And unlike larger corporations, pharma and chemical MSMEs lack the resources to maintain extensive backup systems, leaving them exposed when natural disasters or other emergencies disrupt their carefully-calibrated Mirchandani, Deputy General Manager of NIA, spoke about what her company is doing to safeguard enterprises against such risks. Here are the highlights from her fireside chat at the ET Make in India SME Regional Summit - Thane, titled 'Empowering MSMEs through comprehensive insurance: Bridging the protection gap with New India Assurance'.When you're running on razor-thin margins (and most MSMEs do), natural disasters aren't just business risks. They're existential 2005 Mumbai floods, for example, tested the resolve of every business in the Mumbai Metropolitan Region. And for NIA, it was a moment that defined its approach to MSME insurance. As Mirchandani said: 'Floods are not new to Mumbai. They are not new to Thane. They are not new to the Dombivli and Bhiwandi belt. And we are not new to floods.'She added that NIA has the best settlement ratios in this context, which is critical for business continuity. Its expertise in handling catastrophic claims has made its insurance products, including for fire, one of the most sought-after ones, particularly among MSMEs that rely on bank from flood and fire insurance, NIA also covers specialised cover for workmen's compensation, machinery breakdowns, and marine insurance for transportation."You can customise things the way you want. You can choose one or two products or have a number of them in one policy for seamless cover," Mirchandani explained. 'It's insurance that adapts to your business, not the other way around.'Here's something most small manufacturers in Thane's chemical belt don't know: you might already be breaking the law. The Public Liability Industrial Act of 1991 was updated in December 2024, and the implications are staggering. If you're manufacturing, trading, storing, or transporting certain chemicals, you're now legally required to have specific insurance limits? They've jumped from Rs 5-15 crore to Rs 150-500 crore, linked to paid-up capital. Non-compliance can result in fines or business shutdown. "Many of you may not be aware, but it is compulsory," Mirchandani emphasises. "It's now a statutory obligation to take this insurance policy."The push is not about compliance, but survival. In the event of a chemical leak, when third-party property gets damaged or when lives are affected, this insurance is the difference between staying in business and closing down digital-everything, NIA is aware that the most important person in the MSME insurance ecosystem is still "that good old agent around the corner'. That acquaintance who's been handling insurance for years, someone who's the one-point contact for everything from policy purchase to claims service."This is the most preferred mode. Despite so much digitisation, this continues to be the most preferred form of communication even today," Anjali Mirchandani a reminder that in the world of small business, relationships still matter more than technology. MSMEs want someone they can call when things go wrong, someone who understands their business and can guide them through the complexity of insurance environmental regulations tighten and Environmental, Social, and Governance (ESG) norms become mandatory, NIA is already preparing for the next wave of MSME insurance needs. Pollution liability insurance, which is currently not a priority for most small businesses, is likely to become essential as environmental responsibility becomes non-negotiable."The environment is becoming a fundamental issue in this country. Any and every one of us has to be responsive to the fact that if we are causing any damage to the environment, we need to be held responsible for it," Mirchandani in all, NIA isn't just selling insurance; it's selling the ability to sleep at night. Whether it's protecting against floods and fires, ensuring compliance with new chemical industry regulations, or providing comprehensive coverage that doesn't break the bank, the insurer has positioned itself as an institution that understands what small businesses need.
New Straits Times
04-06-2025
- Business
- New Straits Times
Anwar looks to deepen ties with new South Korean president
KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim has congratulated Lee Jae-myung on his election as South Korea's new president, calling it a turning point for the nation. Lee was declared president earlier today after winning a snap election, taking the helm of a country deeply divided following his predecessor's failed attempt to declare martial law. In a statement, Anwar said South Korea had emerged from a period of intense political contest and scrutiny with resilience and democratic resolve. "The people have spoken for renewal: of trust, of institutions, and of national purpose," he said in a Facebook post. Anwar said he looked forward to working with President Lee to deepen ties in trade, technology, peace, security and people-to-people exchanges. He noted that Malaysia-South Korea relations were elevated to a Strategic Partnership in November 2024 — a milestone reflecting both countries' shared ambitions. He hopes that Asean would take on a more prominent role in Seoul's regional outlook. "As chairs of Asean and Apec respectively in 2025, Malaysia and the Republic of Korea are well placed to lead impactful regional initiatives. In a time of global flux, deeper partnership between Southeast Asia and South Korea will be indispensable to us all," he said. Anwar added that he looked forward to meeting President Lee in Kuala Lumpur this October for the Asean-led Summits, and again in Gyeongju for the Apec Economic Leaders' Meeting. "Malaysia wishes him wisdom and success in the journey ahead," he said.
