Latest news with #InternationalTrade
Bloomberg
2 days ago
- Business
- Bloomberg
China to Relax Urea Export Ban, Easing Global Price Pressure
China is loosening its ban on urea exports, a move likely to ease surging international prices that have been buoyed by tension in the Middle East. Limits on exports of the fertilizer will be loosened from this month, according to people familiar with matter. However, Chinese companies will still be subject to quotas and, in some instances, minimum prices for shipments, said the people, who asked not to be named as they're not authorized to talk to the media. Exports to India will still be restricted, they said.
Borneo Post
3 days ago
- Business
- Borneo Post
Sarawak SMEs showing resilience despite global economic challenges — Awg Tengah
PBA 2025 organising chairman Dennix Yeow Wah Fuong (left) presents a memento to Mohd Naroden, as Chin (second left) and Ong look on. — Photo by Roystein Emmor KUCHING (June 25): Small and medium enterprises (SMEs) in Sarawak continue to demonstrate strength and adaptability despite global economic challenges, said Deputy Premier Datuk Amar Awang Tengah Ali Hasan. The Minister of International Trade, Industry and Investment said Sarawak has over 74,000 SMEs, representing 6.8 per cent of the total figure in Malaysia. 'These businesses play a significant role in driving our economic growth, with 90.5 per cent involved in services, and smaller shares in construction, manufacturing and mining. 'With global uncertainties such as US reciprocal tariff policies, our SMEs must remain agile to thrive in the dynamic business landscape and align with our 2030 high-income goal,' he said in a speech for the Platinum Business Award (PBA) 2025 Nationwide Roadshow here yesterday. The text of his speech was delivered by Ministry of International Trade, Industry and Investment advisor Dato Sri Mohd Naroden Majais. Awang Tengah noted that SMEs form the backbone of Malaysia's economy, accounting for 96 per cent of total business establishments. He said in 2023, SMEs contributed 39.1 per cent to the national Gross Domestic Product, employed 48.5 per cent of the workforce, and boosted Malaysia's export from 10.6 per cent in 2022 to 12.2 per cent. On the PBA 2025 Nationwide Roadshow, he said the awards continue to recognise the outstanding achievements of SMEs and align with the nation's digital transformation and innovation goals. 'This year's evaluation criteria placed greater emphasis on corporate culture and sustainability, underscoring that true success goes beyond profit. 'It comes from how a business treats its people, gives back to society, and protects the environment. Despite challenges, many SMEs have demonstrated remarkable resilience and adaptability,' he said. The roadshow, which drew over 150 prominent local business leaders, government officials and financial institutions, served as a forum for strategic engagement and experience sharing, covering key topics such as brand development and market expansion. According to SME Association of Malaysia president Dr Chin Chee Seong, Sarawak's strong policy support and infrastructure offer unprecedented growth opportunities for SMEs, especially in agriculture, food security and related value chains. 'SMEs need more than just financial support—they require technological transformation and market integration. 'We aim to leverage resources from our nationwide branches to foster cross-sector collaboration among members, shifting from traditional businesses to new areas such as digitalisation, agri-tech and renewable energy. This is not just business development; it's nation-building,' he said. He added that the association will continue to be a 'third voice' advocating for fairness when policies like SST expansion or rental hikes affect businesses. Meanwhile, Sarawak SME Association president Jordan Ong said the return of the awards after a one-year pause reflected the resilience and transformation of SMEs in the post-pandemic era. 'This is not just an award—it's about recognising the real stories behind your entrepreneurial journey. You create jobs, uplift communities, and drive national progress. Every bit of your effort deserves to be seen. 'This year, we hope to see more Sarawak-based businesses shining on the national stage. Whether you're a start-up or a growing company, this is your time to shine,' he said.
Borneo Post
18-06-2025
- Business
- Borneo Post
Sarawak targets three Bumiputera firms on Bursa by 2030 under SBB2035 plan
Junady (third left) presents a memento to Naroden for officiating the programme. — Photo by Roystein Emmor KUCHING (June 18): The Sarawak aims to list three Sarawakian Bumiputera companies on Bursa Malaysia by 2030 under the '3-7-20' framework of the Sarawak Bumiputera Economic Transformation Plan 2035 (SBB2035), said Deputy Premier Datuk Amar Awang Tengah Ali Hasan. The Minister of International Trade, Industry and Investment highlighted this during the 'Road to IPO: Sarawak Edition' at a hotel here today, and stressed that listing on Bursa Malaysia should be seen as a strategic move for business growth and transparency. 'Listing gives companies access to larger capital, strengthens governance structures and sets the foundation for sustainable long-term growth. It is not merely about prestige, but a symbol of market confidence in Bumiputera companies' capabilities,' he added. He noted that public-listed companies also play a vital role in shaping the local economic ecosystem through job creation, inclusive supply chains and contributing to sustainable economic growth. 'I urge for continued synergy between the Sarawak and federal governments, investment institutions and the investor community to create more Bumiputera entrepreneurs who can rise to the national economic stage,' he said. His text-of-speech was read by his ministry's advisor Dato Sri Mohd Naroden Majais, who represented him at the event. Awang Tengah said aside from listing the three companies on Bursa, the 3-7-20 framework aimed to develop seven 'champion' companies in strategic sectors under the Post Covid-19 Development Strategy 2030; and elevate 20 per cent of micro enterprises to private limited company status by 2030. 'These targets are not just numbers – they represent our resolve to nurture resilient and high-impact Bumiputera companies that can significantly contribute to the nation's and Sarawak's economy,' he said. Awang Tengah said the state required a comprehensive approach to achieve these goals, including access to financing, corporate governance improvements, capacity building and a clear pathway to the capital market. 'Teraju (Unit Peneraju Agenda Bumiputera) is actively working with financial and market institutions, including Bursa Malaysia, through platforms such as the Bumiputera Expansion and Catalyst Fund (BECF) and the Islamic Working Capital Project Financing (I-WCPF) to support the holistic scaling of Bumiputera companies,' he said. On the Road to IPO programme, he said it was a strategic platform to enhance the Bumiputera entrepreneurship ecosystem in Sarawak. 'This programme guides and empowers high-potential Bumiputera companies to scale up their operations, improve competitiveness and strengthen corporate governance in preparation for listing on Bursa. 'This initiative is in line with the aspirations of the SBB2035, which sets strategic targets to develop high-impact Bumiputera companies as key drivers of Sarawak's economic growth,' he said. Awang Tengah expressed confidence that with a coordinated approach and strong commitment from all stakeholders, the 3-7-20 targets could be successfully achieved. Also present was Teraju chief executive officer Junady Nawawi.
Web Release
18-06-2025
- Business
- Web Release
Dubai International Chamber establishes new international representative office in Toronto to boost trade and investments with Canada
Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, has officially launched a new representative office in Toronto, Canada. The strategic move reflects the chamber's commitment to bolstering economic ties and exploring avenues to increase bilateral trade and investments between Dubai and Canada. The office was inaugurated during a ribbon-cutting ceremony in Toronto in the presence of the Honourable Maninder Sidhu, Minister of International Trade for Canada, together with H.E. Eng. Sultan Bin Saeed Al Mansoori, Chairman of Dubai Chambers, H.E. Abdulrahman Al Neyadi, Ambassador of the United Arab Emirates to Canada, and members of the Canadian business community. The opening further strengthens the chamber's expanding global network and is considered the first representative office in North America. The new office comes as part of the 'Dubai Global' initiative, which seeks to establish 50 representative offices around the world by 2030. H.E. Eng. Sultan Bin Saeed Al Mansoori, Chairman of Dubai Chambers, commented: 'The launch of our new office in Toronto marks a significant milestone in strengthening the economic ties between Dubai and Canada. The office will serve as a strategic platform to connect businesses, facilitate investment flows, and open new channels for bilateral trade. We are committed to helping Canadian businesses leverage Dubai's strategic location and competitive advantages as a gateway to global growth.' The launch of the Toronto office comes at a time of strong and growing business relations between Canada and Dubai, with the value of non-oil bilateral trade exceeding AED 10.2 billion last year. By the end of 2024, a total of 4,112 Canadian companies were registered as active members of Dubai Chamber of Commerce, representing annual growth of 29%. This momentum has continued into 2025, with 289 new Canadian companies joining during the first quarter. The Toronto representative office will serve as a vital resource for businesses in both Dubai and Canada. The chamber's team will actively engage with the Canadian business community, cultivate strategic partnerships with key public and private sector stakeholders, and promote Dubai's unique advantages as a global business destination. The office will provide Canadian companies with valuable market intelligence and practical support to establish and grow their presence in Dubai. In addition, it will assist Dubai-based businesses looking to expand into the Canadian market by offering targeted insights, identifying high-potential trade and investment opportunities, and connecting them with reliable local partners to ensure a smooth and successful market entry.
Bloomberg
14-06-2025
- Business
- Bloomberg
Taiwan Imposes Technology Export Controls on Huawei, SMIC
Taiwan has blacklisted Huawei Technologies Co. and Semiconductor Manufacturing International Corp., dealing another major blow to the two companies spearheading China's efforts to develop cutting-edge AI chip technologies. Taiwan's International Trade Administration has included Huawei, SMIC and several of their subsidiaries in an update of its so-called strategic high-tech commodities entity list, according to the latest version that was made available on its website on Saturday. It didn't publicly announce the change.
