IMF upgrades forecast for Malaysia’s 2017 growth to 4.8pc
The International Monetary Fund has upgraded its 2017 growth forecast for Malaysia to 4.8 per cent from 4.5 per cent. Maurice Obstfeld, economic counsellor and director of the IMF Research Department, said there is “a very steady hand in monetary policy for Malaysia… we are optimistic here in Malaysia”. In the first quarter of 2017, Malaysia’s economy grew at a better-than-expected 5.6 per cent annual rate — the quickest pace in two years — on robust exports and strong domestic demand. The IMF kept its growth forecasts for the world economy unchanged for this year and next, although it slightly revised up growth expectations for the eurozone and China.
1MINE Inculcating Entrepreneurship Among Indians
The Malaysian Indian Network of Entrepreneurs Association (1MINE) is stepping up efforts to raise the Indian community’s awareness about entrepreneurship in its quest to get 60 per cent of them to go into business in the country by 2025. 1MINE President, Datuk S. Gopinath said the majority of Indians were still lagging behind other races in the Malaysian economy and was still trapped in the bottom 40 per cent of the households earning below RM3,900 per month.
Malaysia Crime Prevention Foundation joins efforts to increase cyber security awareness
CYBERSECURITY Malaysia, the national cyber security specialist and technical agency aims to further boost Malaysia’s cyber resilience through ICT certification for local companies as well as enhanced collaboration with law enforcement agencies and non-government organisations (NGOs) to combat cyber-crime. In its bid to stem the rise of cybercrime, CyberSecurity Malaysia also signed a Memorandum of Collaboration with NGO Malaysia Crime Prevention Foundation (MCPF) to scale up joint effort towards crime prevention and increase cyber security awareness through public engagement and strategic research. Both organisations have agreed to exchange information and render mutual assistance related to crime prevention activities and cyber security reference on public safety. According to the latest statistics released by CyberSecurity Malaysia, a total of 3,928 cybercrime incidences have so far been reported between January and June 2017.
Worldwide PC shipments decline 4.3% in 2Q17: Gartner
Worldwide PC shipments totalled 61.1 million units in the second quarter of 2017, a 4.3% decline from the second quarter of 2016, according to preliminary results by Gartner, Inc. The PC industry is in the midst of a five-year slump, and this is the 11th straight quarter of declining shipments. Shipments in the second quarter of this year were the lowest quarter volume since 2007. “Higher PC prices due to the impact of component shortages for DRAM, solid state drives (SSDs) and LCD panels had a pronounced negative impact on PC demand in the second quarter of 2017,” said Gartner principal analyst Mikako Kitagawa.
FAMA Targets Kelantan RTC Sales To Exceed RM1 Billion By 2020
The Federal Agricultural Marketing Authority (FAMA) aims to achieve a target of over RM1 billion in transactions from the Kelantan Rural Transformation Centre by 2020. Kelantan FAMA Director Ibrahim Mahmood said in order to achieve the target, the number of participants would be increased to 1,000 during the three-year period from the present 616. “New trade clusters such as appetisers, pasarina (special market for women’s merchandise) and flower selling sites will be added to the TRC in September”. He said FAMA had identified 95 pasarina market participants and 16 food court entrepreneurs who could help spur the Kelantan RTC business beginning September.
HUAWEI Ranked 83 in the Top 100 of the Latest Fortune 500 List
In this year’s Fortune 500 that came out in the evening of July 20th, HUAWEI climbed up the list to 83 from 129 last year with a revenue of $78.51 billion, making the top global 100 for the first time. The Fortune 500 list has always been the most prestigious and acknowledged list that ranks large companies all over the world, known as the “ultimate list”, released every year by the Fortune magazine. The Fortune 500 list ranks the companies according to their revenue and profit, focusing more on the size of the companies compared with other lists. The Fortune 500 rankings have become an important indicator that renowned companies use to measure their own strengths, size and international competitiveness, a parameter of global economy that transcends beyond borders, nationality and cultural differences.
Grab attracts S$2.7b in investments from Didi Chuxing, SoftBank
Ride-hailing company Grab has announced that up to US$2 billion will be raised from China’s Didi Chuxing and Japan’s SoftBank in its latest financing round. Grab added in a media release that it anticipates to raise an additional US$500 million to bring the total to US$2.5 billion from existing and new investors, which it claims to be the largest single financing ever in Southeast Asia.
More than 100 SMEs in Singapore adopt IMDA’s Go Digital programme
More than 100 small- and medium-size enterprises (SMEs) have adopted 24 digital solutions under the Go Digital programme since it started in April this year. Singapore’s Infocomm Media Development Authority said these solutions were aimed at helping SMEs use digital technology to boost their productivity and build their digital capabilities, and generate more than S$2.4 million in revenue for infoco