Latest news with #economicreforms
France 24
7 hours ago
- Health
- France 24
Trump's tariffs deadline looms
Also, in Nigeria's capital Abuja, nurses have launched a seven-day strike over pay and working conditions, deepening the city's healthcare crisis. Talks with the government collapsed, prompting walkouts that have crippled hospitals. The strike follows a wave of unrest over rising living costs after President Bola Tinubu's economic reforms. While the government plans to meet union reps, frustration grows among patients and health workers alike. Finally, in the Central African Republic, crumbling infrastructure and soaring energy prices have sparked a surge in illegal electricity connections. A dangerous trend that has resulted in deadly fires and electrocutions. The latest catastrophe led to a stampede that claimed the lives of nearly 30 students. The stakes have never been higher.
Malay Mail
21 hours ago
- Business
- Malay Mail
Govt strengthens national policies via Madani Economy, with bold reforms and inclusive growth under 13MP, says PM
KUALA LUMPUR, July 31 — The Madani government has boldly and decisively shaped the direction of national policies through the formulation of a comprehensive framework known as the Madani Economy that is based on sustainability, the people's well-being, and governance with integrity. Prime Minister Datuk Seri Anwar Ibrahim said that under this framework, the government has initiated structural economic reforms, including the New Industrial Master Plan (NIMP 2030), National Energy Transition Roadmap (NETR), National Semiconductor Strategy (NSS), and National TVET Policy 2030. In addition, the private sector has forged ahead along with the government — for example, the GEAR-uP programme, led by government-linked investment companies, has boosted domestic direct investments. 'The KL20 Action Plan was also introduced with the aspiration of making Kuala Lumpur one of the top 20 global startup ecosystems. Since its launch in April 2024, the capital's position in the 2025 Global Startup Ecosystem Report has risen to 68th place, with 4,464 registered startups. 'We are now on the right track to reach the target of 5,000 startups by the end of this year. At the same time, venture capital firms with average assets under management (AUM) reaching US$400 million (RM1.7 billion) have also shown interest in operating in Malaysia,' he said when tabling the 13MP in Parliament today. Anwar said that to further stimulate domestic economic activity, investments through strategic collaborations with the industry continue to be strengthened. This includes initiatives like the Johor–Singapore Special Economic Zone (JS-SEZ) and the Kulim Hi-Tech Park (KHTP), which have successfully attracted both foreign and domestic investments in high-tech sectors. He also noted that development efforts have been expanded to include the Kerian Integrated Green Industrial Park (KIGIP) and the Automotive High Tech Valley (AHTV) in Tanjung Malim, Perak, as well as strategic industrial parks in Sabah and Sarawak. Meanwhile, Anwar said the government is also undertaking legislative reform through the enactment or amendment of over 80 laws, including the ILTIZAM Act, Data Sharing Act, Police Act, and the Child Act. 'Enforcement agencies such as the Malaysian Anti-Corruption Commission (MACC), National Audit Department, and Malaysia Competition Commission (MyCC) have also been strengthened in an effort to combat corruption, leakages, and abuse of power in a more comprehensive and effective way,' he added. He also noted that fiscal management has been enhanced through the enactment of the Public Finance and Fiscal Responsibility Act as part of ongoing efforts to reduce the national deficit. In addition, the government is continuing its efforts to curb the rising cost of living through the better implementation of targeted subsidies, such as for diesel and electricity, to ensure that aid reaches the targeted groups without wastage. 'The Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) have also been increased. SARA recipients have been expanded from the initial 700,000 hardcore poor to 5.4 million recipients, including the B40 group. 'Last week, I also announced a one-off SARA cash aid of RM100 for all citizens aged 18 and above, involving an allocation of RM2 billion. As a result, the total allocation for STR and SARA assistance in 2025 will reach RM15 billion,' he said. Anwar also said the government has increased people's incomes through the minimum wage order, progressive wage policy and Public Service Remuneration System (SSPA). He said the Madani government has successfully raised the minimum wage twice — from RM1,200 to RM1,500, and then to RM1,700. Meanwhile, a living wage benchmark of RM3,100 per month has also been set for employees of government-linked companies (GLCs) and government-linked investment companies (GLICs). 'TVET graduates are also enjoying increasingly competitive salaries, with most earning above the RM1,700 minimum wage. A total of 95.6 per cent of TVET graduates have secured employment within six months of completing their training,' he said. On a separate matter, Anwar said that emphasis has also been given on basic infrastructure projects, including the upgrading of schools; dilapidated clinics; quarters for teachers, the armed forces and police; road maintenance; and flood mitigation projects. 'To date, 1,368 Royal Malaysia Police (PDRM) and 3,088 Malaysian Armed Forces (ATM) housing units have been completed, with an additional 8,501 units being under construction. 'At the same time, a total of 69,141 existing housing units for ATM and PDRM personnel have been repaired and upgraded,' he added. — Bernama
Reuters
2 days ago
- Business
- Reuters
Zambia wants to extend IMF loan programme by 12 months
LUSAKA, July 30 (Reuters) - Zambia's government wants to extend its International Monetary Fund programme another 12 months beyond its current expiry at the end of October, a cabinet statement said on Wednesday. The copper-rich Southern African nation has been trying to get its public finances back on track with IMF support after running up a huge debt pile. Its 38-month Extended Credit Facility was approved in August 2022 for an initial $1.3 billion but was later increased to $1.7 billion. So far about $1.55 billion has been disbursed. The cabinet statement said Finance Minister Situmbeko Musokotwane had been authorised to ask the IMF for the 12-month extension. "The objective is to consolidate the gains achieved during the programme period into 2026" and help support economic reforms, the statement said. A finance ministry spokesperson declined to elaborate when contacted by Reuters. Zambia defaulted on its external debt in 2020 after years of unsustainable borrowing but battled its way to a restructuring deal with its primary creditors last year. It is still seeking to agree restructuring terms with smaller creditors including Afreximbank. The IMF's board last week approved a $184 million disbursement to Zambia after completing the fifth programme review.
LBCI
23-07-2025
- Politics
- LBCI
Macron to receive Lebanon's PM Nawaf Salam in France
French President Emmanuel Macron will receive Lebanese Prime Minister Nawaf Salam on Thursday, July 24, at the Élysée Palace, marking Salam's first official visit to France since taking office. The Élysée said the visit will reaffirm the deep-rooted friendship between France and Lebanon, as well as Paris' continued support for the Lebanese people. Discussions will focus on the country's security and stability, as well as the need to pursue critical economic reforms to restore Lebanon's full sovereignty and prosperity. The two leaders are also expected to address the need for full respect of the ceasefire, notably the complete withdrawal of Israeli forces. Talks will include ways to strengthen the Lebanese Armed Forces, bolster cooperation with the U.N. peacekeeping force UNIFIL, in which France plays an active role, and explore broader regional priorities. Macron and Salam will also discuss the significant challenges facing the Near and Middle East, including the impact of the wars in Gaza and Iran, as well as recent clashes in Syria.
Zawya
21-07-2025
- Business
- Zawya
Egypt mulls issuing $4bln international bonds in 12 months
Arab Finance: Egypt plans to issue $4 billion in international bonds over the next 12 months, Bloomberg cited Minister of Finance Ahmed Kouchouk at the Egyptian-British Business Association in London. The offering aligns with the state's strategy to diversify the financing sources and drive economic reforms. Kouchouk unveiled the government's intention to offer instruments that include euro- and dollar-denominated securities and sustainability bonds to cover around 40% of Egypt's external funding needs for the current fiscal year (FY). During a panel session at the conference, the minister said they are working to extend maturities and reduce reliance on short-term financing instruments. Instead, the ministry aims to expand long-term financing instruments to ease the burden on the budget and enhance financial sustainability, he added. This also falls within the state's commitment to reducing external debt for budget entities from $1 billion to $2 billion annually. Finally, Kouchouk noted that the government considers returning to Sukuk issuance after the success of the first offering of Kuwait Finance House. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
