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Top Story: PM Najib on Change and Progress Taking Place at WEF Davos 2013 (Video Interview)
Najib used this year's WEF, themed "Resilient Dynamism" as a platform to showcase Malaysia's vibrant economic growth and opportunities despite the global economic uncertainty in recent years. In scheduled bilateral and one-on-one meetings with the political leaders and captains of industry, Najib, who is also finance minister, developed a strong case for Malaysia as a preferred investment, trade, education and tourism destination in Asia.
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Top Story: Malaysia showcases reforms, growth at WEF amid world economic gloom
The World Economic Forum (WEF) in Davos next week will showcase Malaysia's growth story amid a sluggish global economy and highlight reforms by the Najib administration ahead of Election 2013. The Malaysian Insider understands that the government is confident that the positive news at the high-powered annual conference in Switzerland will be able to persuade voters, especially the fence-sitters, that Datuk Seri Najib Razak should be given a strong mandate in the 13th general election.
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Top Story: Malaysia funds subway with first exchange bonds
Malaysia, Southeast Asia's biggest local-currency bond market, will let retail investors fund Kuala Lumpur's new subway when it starts marketing its first exchange- traded notes to individuals. Prime Minister Najib Razak will unveil details of the issuance today during a presentation at Bursa. DanaInfra Nasional Bhd., a state-owned company that's financing the rail network, will kick off the offerings. The country joins Indonesia, Thailand and the Philippines in tapping the general public for funds and providing an alternative investment to bank deposits and equities.
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Top Story: Strong economic growth enables development to be carried out, says PM Najib
The country's encouraging economic growth has enabled the government to implement development programmes and channel aid to the people. Prime Minister Datuk Seri Najib Tun Abdul Razak said that was the reason why the Barisan Nasional had made it a priority to do its best in managing the country especially with regard to economic growth. "We have managed the country well while countries in Europe were being saddled with debts, the US is facing problems due to its political clashes while countries in the Middle East were undergoing uprisings."
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Top Story: Malaysia set to beat HK, UK as IPO destination
Malaysia is poised to end the year as the world's fourth-largest market for initial public offerings (IPOs), after companies favoured Southeast Asia's least volatile market as a destination to raise capital.Companies sold stock in Malaysia on speculation the nation will be sheltered from Europe's debt crisis and a slowing global economy. Malaysian IPOs have raised US$6.8 billion this year, compared with the US$7.05 billion record raised in 2010.
Top Story: Govt to continue with policies supporting knowledge-based economy, says PM Najib
The prime minister said, he believed in building a knowledge-based economy as one way for Malaysia to achieve sustainable growth and remain globally competitive. "We will continue to put in place, the policies and investments that support a knowledge-based economy: in science and technology, in research and development, and in information technology infrastructure. And, we will focus on the social impact of our policies, and be aware of our responsibility to ensure that the knowledge-based economy does not widen disparities between various sections of our society," he said at the Merdeka Award presentation ceremony in Dewan Filharmonik Petronas Monday night.
Top Story: Higher capital investments recorded in services sector, says MITI
Capital investments in the services sector have accelerated this year, mostly domestic-led, and will surpass last year's performance, International Trade and Industry Minister Datuk Seri Mustapa Mohamed says. The sector, which has been the key driver of growth in the 10th Malaysia Plan (10MP), attracted RM64.4 billion capital last year, including RM48.2 billion domestic investments.The services sector now accounts for 58.6 per cent of the nation's economy, way ahead of the manufacturing sector (27.5 per cent). It also contributes employment to 7.2 million out of the 12 million people in the job market.
Top Story: IMF chief confident M'sia can become a high-income country by 2020
International Monetary Fund managing director, Christine Lagarde, said Prime Minister Datuk Seri Najib Tun Razak's vision of expanding the domestic market, garnering more investment and establishing more infrastructure in the identified sectors would turn the vision into a reality. "With this goal of moving into a high-income country by 2020, given the rate of growth, I bet you will get there," she said in her speech at the Global Public Lecture entitled 'Asia and the Global Economy -- The Promise of Integration' hosted by the Malaysian Economic Association.
Top Story of the Week: Obama's win to impact Malaysia-US bilateral trade, FBM KLCI
While the re-election of US President Barack Obama over Republican candidate Mitt Romney ensures the continuity of current political and economic policies for the next four years for the US, concerns arise over its impact towards Malaysia especially on the matter of free trade and capital flows due to continued ultra-easy monetary policy. National Affairs
+ Najib launches all-in-one govt call centre
+ Govt allocates RM3B for BR1M 2.0
Top Story: Canada’s PM, in blocking Petronas, says nation open to investment but seeks reciprocity
Canada temporarily blocked Malaysian state oil firm Petronas' C$5.17bil (US$5.17bil) bid for gas producer Progress Energy Resources on Oct 20, giving it 30 days to make new representations to the government. Prime Minister Stephen Harper, in some of his toughest remarks on foreign investment yet, signaled a willingness to block foreign purchases of Canadian companies if other countries are not open to Canadian investment.