World Bank traces Mahathir's banking solutions that saved Malaysia One of the immediate reform measures undertaken by the authorities in 1998 was to consolidate the highly-fragmented banking system. Prior to 1997, there were more than 77 banks and the authorities decided to consolidate the sector. At that time, existing institutions did not have the resources to compete with
While Labour won, Reform Party made its mark With the election results not out, it is clear the Labour Party will not be able to form a government alone if it were to run in the next General Elections alone. While it garnered 35.5% in the No 18 by-elections, it is definitely not sufficient for the
Malaysia's GNI per capita fell to US$9,850 Malaysia’s Gross National Income or GNI has fallen from US$10,440 (2015) to US$9,850, an increase of 30.5% on the 2009 figure of US$7550 but a decrease over the 2015 figure. While GNI per capital was increasing up until 2014, in recent years, it
Need to improve B40 well-being in Malaysia, World Bank says In its Turmoil to Transformation: 20 Years after the Asian Financial Crisis report, the World Bank said Malaysia need to improve the well-being of the population categorised as the below 40% or B40. The B40 means there are at least 6.25 million Malaysians classified as those living who
World Bank lauds Mahathir for saving Malaysia in 1998 According to the article published today in The Independent Singapore, the World Bank has risked criticism from some quarters in praising and lauding former Prime Minister Mahathir Mohamad, now the main opposition leader, for saving the country in the 1998 financial crisis. The article states that in a rare splash
Tough to call in Mauritius by-elections It is a tough call, as the fierce battle on the field did not bring the crowd out to vote in the by-elections at Belle Rose-Quatres Bornes. With only 54,96 %. of voters casting their vote, or 23 112 voters, the battle between the candidates are expected to
HSBC teams-up with Rise against Hunger HSBC hosted a meal packaging programme for the fourth consecutive year in partnership with Rise Against Hunger, an international hunger relief organisation that distributes food and aid to vulnerable communities. More than 350 HSBC employees from their Global Service Centre and the Bank volunteered a total of 1,800 hours
Yet another sign Mauritius economy is not well: Current account deficit higher Yet another sign that the Mauritius economy is not going well. The current account deficit will reach 5.1 per cent of gross domestic product in 2017. The Bank of Mauritius said on Wednesday this means it will be up from 4.5 per cent of GDP in 2016. The
Malaysia Industrial production October 2017 Industrial production expanded 3.4% year-on-year in October, moderating from September’s 4.7% growth and coming in below market expectations of a 3.8% increase. According to the Statistical Institute, the expansion was driven primarily by the electricity and manufacturing sectors, although the manufacturing sector grew at
More hotels suggest tourism industry in Malaysia vibrant More hotels being planned in Kuala Lumpur, along with a large number of budget hotels sprouting all over Kuala Lumpur, suggests that the tourism industry is alive and thriving, industry analysts and economists said to Malay Mail. They also said the sustained recovery in tourist arrivals, which are expected to
Oil price increase, boon or bane? THE increase in the price of crude oil appears to be both a boon and a bane for Malaysia. It is a boon as the increase in crude oil price would rake in additional revenue into Malaysian coffers. It is a bane as the average consumers would now have to
bandar malaysia Bandar Malaysia still without Fortune 500 master developer The Bandar Malaysia project has taken the back seat while the government is still chasing after a Fortune 500 company that it said would be given the contract to handle the project. In June, the then newly appointed chairman of Bandar Malaysia Mohd Irwan Serigar Abdullah said only top, world-
US$100mn loan to develop SMEs in Mauritius The African Development bank (AfDB) has approved US$100mn loan for the development of small and medium enterprises (SMEs) in Mauritius, through the AfDB’s public sector window to MauBank Holdings Ltd in Mauritius. The grant aims to expand SME business across sectors and foster private sector investments in a
Maybank Kim Eng sees strong end of year finish for Asean indices Maybank Kim Eng said that after a weak performance since September, the FBMKLCI may be getting its much-needed boost. “Since 2007, the index only closed once in negative range in December and that was in 2014. “As such, we expect FBMKLCI to start a new recovery cycle as it
Watch Japan reassert itself on the world stage JAPAN may have retreated a little in the 90’s to deal with its own set of economic woes but it appears ready to return as a formidable player on the world stage. Its tenacity and resilience are well known, and its ability to ride out of adversity is legendary,
Malaysia Airlines to stay ahead in lucrative business segment with new wide-body planes Malaysia Airlines Bhd’s (MAB) wide-body aircraft selection will set it apart from competitors in the lucrative business class segment, said an aviation expert. The national air carrier said that year to date as at Dec 3, the business class segment has seen a 78% booking rate. MAB is
How to extract Mauritius from the 45th place in global competitiveness? Mauritius, South Africa, Rwanda and Botswana come out on top of the African list of countries most competitive countries in the world. The list is compiled by the World Economic Forum. Although Mauritius ranks first among African countries, it is still only at number 45 in the global index. But
Chris Snowdon Red faces for plain packaging champions: It had no impact in Australia! Having considered plain packaging regulations for Malaysia, the Health Ministry may be relieved that it hasn’t rushed to push legislation on this controversial strategy. Five years after the introduction of plain packaging in Australia, the results are embarrassing for those who said it would dramaticially reduce tobacco consumption. The
How far will Mauritius default on Betamax and how much will Mauritians suffer? The government of Mauritius through its Trade Minister Ashit Gungah insists the country is not going to face fuel shortages, and one of the reasons given is that former DPM Shaukatally Soodhun negotiated supplies of oil to Mauritius from the Saudi Arabian oil giant Aramco. But the real issue here
IRAN Washington's shrinking territorial landscape in the Middle East The US grew massively unpopular in the Arab world following the 911 events, the invasion of Iraq and the its support in a bloody massacre called The Arab Spring. This has shrunken its visibility in the region, while its deal with Iran on the nuclear issue made it look a
France’s Eurofins the ultimate in pharma lab testing ONE of the focus of our media visit to Paris was to meet the Eurofins group in France. The aim was to gain an insight of the French perspective in the input in analytical support to the global pharmaceutical industry. Eurofins is a world leader in food, environment and pharmaceutical
The return of MMM, Labour as top guns? The no 18 by-election seems to point to the return of the MMM and the Labour Party as the top guns in local elections, said a source to WFTV. A survey conducted by DCDM Research gives the MMM’s Nita Jadoo as winners at No 18, ahead of the
Mauritius central bank taken to task by IMF The International Monetary Fund (IMF) on Saturday said the Bank of Mauritius needs to buckle up in its role in the stability factor in the country’s economic development. It said the central bank needs to clarify its monetary policy to increase coherence. The IMF said also that the primary
Groundswell shows possible MMM victory in by-election The by-election of December 17 could as well see an MMM victory, says our source on the ground, who added that the party of Paul Berenger is gaining in strength in the latter’s former constituency. Ms Nita Jadoo may have made better impressions than the Labour Party candidate
Shift to EVs will reduce dependency on fossil fuels Malaysia is now taking steps to bring electric cars into the auto market, with plans to shift to electric vehicles (EVs) and this could be a boost to Geely’s rush to join the pantheon of electric car makers with the likes of Tesla and others. “This is an inevitable
