Malaysian PM pleas for unity of purpose and mutual respect The Malaysian government is to focus on the principle of ‘Leaving No One Behind’ as it implements the recently unveiled 12th Malaysia Plan (12MP). Prime Minister Datuk Seri Ismail Sabri Yaakob said with the theme ‘A Prosperous, Inclusive, Sustainable Malaysia’, 12MP will address the
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Debt crisis prompts India to set up ‘bad bank’ India’s government is to set up a so-called ‘bad bank’ to mop up some of the debt accrued by the country’s commercial banks. Between them, India’s banks have racked up an estimated $100 billion in bad loans. The bad bank – funded to the tune of
Pandemic resilience focus for Dubai SME 100 Dubai SME, the agency of Dubai Economy responsible for developing the small and medium enterprise (SME) sector, has launched the fourth cycle of its Dubai SME 100 programme. It will highlight how SMEs in the emirate have shown resilience despite the challenges posed by the global pandemic, the
New incentives aim to boost apprenticeships in China China has unveiled new incentives to encourage companies to set up apprenticeship schemes as the country seeks to boost workers’ skills. The Ministry of Human Resources and Social Security, the Ministry of Finance, and three other authorities jointly released the ‘Guidelines on Comprehensively Implementing the New Apprenticeship
12th Malaysian Plan sets out ambitious five-year growth targets The 12th Malaysia Plan (12MP) has been unveiled, with the government announcing it will allocate RM400 billion ($95 billion) for existing and new infrastructure projects. The plan sets out economic targets for the duration of the plan, which runs until 2025. They include: GDP growth of
Funding for Indian start-ups continues to grow Indian start-ups companies received around $6.5 billion collectively in funding in the April-June 2021 quarter, according to research by Nasscom-PGA Labs. And it found that 11 of these start-ups became ‘unicorns’ – a unicorn being a privately owned start-up company valued at over $1 billion. During the second
Dubai jobs market bounces back after Covid slump Dubai is experiencing its most buoyant jobs market since the outbreak of the coronavirus pandemic in March 2020. The relaxation of the rules around travel has helped boost the tourism and hospitality sectors, although some in the industry are warning that the road to full recovery will
Big tech firms pledge support for China’s SMEs Many off China’s tech giants have pledged to support the country’s smaller businesses, making the promise at the 2021 World Internet Conference Wuzhen Summit. Opening the conference, Chinese Vice Premier Liu He urged countries around the world to safeguard the safety and reliability of the infrastructure,
UK economy to benefit from $13.8bn UAE investment The UAE has signed a £10 billion agreement with the UK government, significantly expanding the two countries’ Sovereign Investment Partnership (UAE-UK SIP). The money will be targeted at key sectors of the UK’s economy over a five-year period – namely technology, infrastructure, and energy transition, as well
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