Maori haka in NZ parliament to protest at bill to reinterpret founding treaty

In protest of a contentious act that sought to redefine the country’s founding agreement with Mori people, MPs performing a haka temporarily slowed down the country’s parliament.

After being questioned whether her party was in favor of the bill, which had its first vote on Thursday, Hana-Rawhiti Maipi-Clarke, the classic royal group dance began.

At the same time, a hīkoi- or quiet opposition february- organised by a Māori rights team is continuing to make its approach towards the money, Wellington.

The 10-day protest against the expenses, which started at the top of New Zealand on Monday and ended in a flurry in Auckland on Wednesday, has previously attracted thousands of spectators.

Although the nation is frequently regarded as a leader in indigenous right, the bill’s critics fear that the same rights will be endangered by it.

The political group that introduced the bill, Act, contends that the 1840 Treaty of Waitangi’s essential rules must be legally defined.

The key principles of the agreement have, over time, been woven into New Zealand’s regulations in an effort to remedy the bad done to Māori during invasion.

Danielle Moreau A group of people holding flags is seen walking from behindDanielle Moreau

However, Act, a small member of the country’s ruling centre-right alliance, claims that this has led to racial division, and that the bill will make it easier for the treaty to be interpreted more pretty through parliament than the courts. The group’s president, David Seymour, has dismissed critics as wanting to” mix up” anxiety and department.

Critics, however, say the policy will divide the country and lead to the unravelling of much-needed aid for some Māori.

Following a 30-minute bust, the second reading was approved by all of the coalition’s constituent parties. Maipi-Clarke was suspended from the home.

Because Act’s coalition partners have indicated they wo n’t back it, a second reading is unlikely.

But this has not placated those worried about the bill, and its impact, with the hikoi still making progress along its 1, 000km ( 621-mile ) route.

Danielle Moreau A smiling woman takes a selfie with her two sonsDanielle Moreau

In Auckland, it took an estimated 5,000 marchers two hours to cross the harbour bridge. Officials had closed two lanes, the New Zealand Herald reported, to allow them to continue along the route.

Danielle Moreau, who is Māori, walked over the Harbour Bridge with her two brothers, Bobby and Teddy, and told the BBC she “was hoping it]the hīkoi] may be great but it was much more spectacular than I expected”.

” I marched to make the place that Te Tiriti]the Treaty of Waitangi] is very important to our national identity”, said Winston Pond, who likewise took part in the march on Wednesday.

Our multicultural society is based on a intercultural foundation, which cannot be altered.

Juliet Tainui-Hernandez A family of three smiles at the camera, while people wave flags in the backgroundJuliet Tainui-Hernandez

Juliet Tainui-Hernández, from the Māori community Ngāi Tahu, and her Puerto Rican lover Javier Hernández, brought their daughter Paloma to the hīkoi.

Ms Tainui-Hernández said those who turned out in support did but” for the courteous and diverse country we want Aotearoa]New Zealand ] to be for our tamariki mokopuna- our kids and grandchildren”.

Kiriana O’Connell, who is also Māori, said that the present treaty rules were now a sacrifice for her people, and she would never support a “rewrite”.

Under the proposed legislation, the convention rules that would be defined in law are:

  • that congress has the full power to pass legislation and that the government has the power to manage.
  • that the Crown upholds Mori’s constitutional right
  • that everyone has the same rights as everyone else in terms of law and safety.

Act head Seymour, who is also New Zealand’s associate justice secretary, claims that judges have been able to develop concepts that have been used to support activities that are against the equality process because the principles have never been properly defined legally.

He says these contain “ethnic quotas in public organizations” that go against the spirit of fairness for all New Zealanders.

Prime Minister Christopher Luxon, nevertheless, has called the act “divisive”- despite being part of the same partnership.

EPA David SeymourEPA

However, the Waitangi Tribunal, which was set up in 1975 to check alleged breaches of the Treaty of Waitangi, notes the act “purposefully excluded any conversation with Māori, breaching the concept of association, the Crown’s good-faith obligations, and the Crown’s responsibility to actively protect Māori rights and interests”.

Additionally, it claimed that the bill’s tenets “misinterpreted the Treaty of Waitangi” in a” important way” and that this” caused major prejudice to Mori.”

The government’s a number of methods that have had an impact on Mori have been implemented with the release of the Treaty Principles Bill.

They include the closing of the Māori Health Authority, which was set up under Jacinda Arden’s Labour government to help make health equity, and reprioritising English over Māori when it comes to the standard calling of federal agencies, for instance.

According to the most recent census, about 18 % of New Zealand’s population consider themselves to be Mori, but many still face challenges in comparison to the general population based on indicators like health outcomes, household income, education levels, and incarceration and mortality rates. There remains a seven-year gap in life expectancy.

The Treaty of Waitangi is an agreement between the British and many, but not all, Māori tribes, which was signed in 1840.

Because it was only a spoken language until colonization, it is contentious because it was written in both English and Mori, and the two versions have fundamental differences in terms of land ownership.

Although the treaty itself is not a legal document, its principles have been incorporated into various laws over time.

A select committee will now be hearing the bill for a six-month period of public hearings.

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Hasan.VC kicks off Cohort 002 of Accelerator Programme

  • The first group included 42 companies, 12 of which secured financing
  • 7-week program designed to support early-stage Halal &amp, social companies

Hasan.VC kicks off Cohort 002 of Accelerator Programme

Hasan. Software for Cohort 002 of the Accelerator Programme are now available, according to VC, an essential component of the Ethis Group. Starting on 6th January 2025, this seven-week online initiative aims to support early-stage Halal and honest business owners. Following the successful release of its annual group, which saw 42 startups participating, with 12 securing financing, this circular invites online applications from founders with ambitions to range within Southeast Asia’s high-growth region.

The Hasan. VC Accelerator is a seven-week online programme offering early-stage startups a support package that includes pre-seed funding of up to US$ 60, 000 ( RM268, 000 ), mentorship from top-tier trainers and successful Muslim founders, and access to a network of over 500 angel investors. Individuals will also benefit from a group of like-minded founders, exposure to a lover collection of over 60 million Muslims, and state funding matching possibilities.

The Accelerator empowers companies to level their businesses with advice and resources that are specifically tailored to their needs in order to address the unique issues faced by business owners in Southeast Asia’s high-growth area. To day, the program has helped launch modern businesses, such as Synbiozymes, Reyhut Automation, and GoBarakah.

The Accelerator program aims to maintain fostering a founder-centered ecology where business thrives, according to our mission statement. We are committed to supporting various founders, mainly Muslim and feminine entrepreneurs, who have previously been overlooked in conventional venture capital spaces”, said Umar Munshi, managing partner of Hasan. VC and Group MD of Ethis. This Accelerator is more than just money; it’s about building a network of entrepreneurs who collaborate to create innovative, morally sound companies.

” This program was built for members by members. We want to support businesses who want to succeed in their organizations in a supportive environment with people who are aware of their particular difficulties. South Asian startups are particularly important to us, according to Hasan’s main Mohd Akhtaar. VC.

He continued, citing Southeast Asia’s shift toward more honest and purpose-driven company culture as an outstanding opportunity for startups to succeed in the Halal economy.

The second wave of creative founders who want to create businesses that are socially responsible, ethical, and in line with Halal values are needed, according to Mohd Akhtaar, who is leading the action to change the face of entrepreneurship.

The Hasan. Ten startups may be chosen by VC Accelerator to get equity funding from each cohort. Each company will also benefit from ongoing assistance, yearly evaluations, and publicity to potential administrative and angel investors. A Demo Day, where members present their development to a network of traders and funding partners, is the program’s climax.

Owners and companies are invited to apply to the programme to acquire opportunities for growth, engagement, and expense. With limited games obtainable, this project presents a chance for early-stage, purpose-driven endeavors to scale impactfully in Southeast Asia’s vivid and expanding Halal business.

Click here for more information.

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Two Chinese news veterans sued over S0,000 ‘loan’ for failed Mandarin language business

SINGAPORE: The head of Mediacorp’s Chinese news team and a former news veteran at Singapore Press Holdings ( SPH) daily Lianhe Zaobao are being sued by a businessman, who wants a purported loan of S$ 990, 000 ( US$ 740, 500 ) to be returned to him.

According to Mr. Ren Xin Wu, Mr. Chua Chim Kang and Ms. Lee Kuan Fung were using Homing Holdings, a holding firm for two companies that offered education and were experts in Mandarin-language occurrences, as working money.

Mr. Ren asserts that the money was refunded in three years starting with the date of the grant, but Mr. Chua and Ms. Lee’s attorneys allege that there was n’t a contract.

It is also alleged that in 2020, when the company was in severe islands, Ms Lee paid S$ 40, 000 in Homing Holdings money to a third-party firm called Goldciti.

Mr. Chua introduced the business to her, and the amount allegedly served as consulting services.

The celebrations alleged that this deal was fake because Homing Holdings wanted to funnel money away from the company and avoid paying its creditors.

At the same time, brokers for Homing Holdings, which has failed, are suing Ms Lee for supposedly breaching her moral obligations as chairman of the business, with Goldciti as a second accused.

The High Court on Tuesday ( Nov 12 ) held a civil trial for the two suits, with Mr. Chua and Ms. Lee’s attorneys arguing that the case lacks sufficient evidence to support their claims.

History OF THE CASE

According to her LinkedIn profile, Ms. Lee is a media former who worked for SPH for 18 years before leaving in May 2017. Mr. Chua serves as Mediacorp’s head and chief editor of Chinese media and current politics, as well as the organization’s Youth Editorial Initiative.

Mediacorp is CNA’s family business, too. &nbsp,

He joined Mediacorp in 2018, but he originally held positions like managing director of the company’s Chinese Media Group.

Mr. Muthu Kumaran Muthu Santhana Krishnan of Kumaran Law and Mr. Salem Ibrahim, the pair’s attorney, are defending them.

According to the accused ‘ opening speech, Mr Ren, a Chinese member and French citizen, second met Mr Chua in 2015, when Mr Chua was an administrative with SPH.

At the time, Mr Chua had been in the internet business for about 15 times. Mr. Ren stated during a luncheon that he wanted to promote and raise the profile of an occasion sponsored by China Minsheng Investment Group.

Mr. Chua finally introduced Ms. Lee to Mr. Ren in order to help him achieve his objectives.

Ms. Lee worked for Lianhe Zaobao as well as the Central Integrated Newsroom as a “new development” editor in 2015, according to her people LinkedIn profile.

In its beginning speech, the defense claimed that Mr. Ren after had a successful project with SPH.

Eventually, the trio met to enjoy the trio’s success and exchange lunches, where Mr. Ren allegedly persuaded the two news veterans to form a partnership.

Homing Holdings was incorporated in June 2017. It served as the holding company for Lulele Learning Space and Luminaries Holdings, its operating business.

By acquiring nurseries and institutions, managing events and concerts, and promoting Mandarin, Luminaries was established.

Lulele Educational Services specialized in intellectual mentoring and tuition matching services.

” Chua was satisfied with his new work,” he said. However, he never took a full-time or an active part in Homing. On the other hand, Lee took the plunge”, said the military.

Mr. Ren purportedly insisted that Mr. Chua be given a 35 % stake in the business, despite the lawyers ‘ claims that he had no desire to be involved in daily operations and that he did not participate or own shares.

According to the defense, Ms. Lee later held those shares, which she also held as a chairman of the subsidiary companies.

According to the army, Mr Ren wanted Ms Lee to keep her work with SPH and get full-time, and this came to fruition.

Company was first good, but revenue dived when COVID-19 hit in 2020, the military said.

The attorneys claimed that Ren became angry and quickly requested that he return his$ 990,000 in Homing as a convertible product. &nbsp,

WHAT MR REN, HOMING HOLDINGS ARE SEEKING

Mr Ren and Homing Holdings, which is in forced liquidation, are represented by Mr Harry Zheng Shengyang and Ms Jasmin Kang from Kelvin Chia Partnership.

Ms. Kang claimed in her opening statements that her case involved the siphoning of funds from the original by Ms. Lee.

Homing Holdings is suing Homing Holdings for the$ 40,000 that was paid for companies that were never provided as a result of the alleged fake contract, as well as for Ms. Lee’s inability to discharge her professional duties as the company’s director.

Additionally, Ms. Lee’s involvement in Ms. Kang’s event led to the economic damage of Homing Holdings, which she also claimed was the result of.

Ms. Kang said she will testify in court that Ms. Lee and Goldciti exchanged “repeatedly deceptive” information about how she and her husband had handled their liquidations.

Ms. Kang claimed that her client had provided Homing Holdings with a working capital loan of S$ 990,000 as part of Mr. Ren’s following lawsuit.

The business had to repay the loan after three times, or parties may have negotiated an improvement, reached a separate contract on settlement, or converted the payment into ownership.

But, when the loan was due, Ms Kang alleged that Ms Lee and Mr Chua failed, refused or neglected to get the product returned, in violation of their partnership with Mr Ren.

Ms. Kang cited the defense’s declare that Mr. Ren had” all kinds of tactics to press them” into paying the loan, saying that Mr. Ren was entitled to demand and demand payment.

Nothing more than Mr. Ren enforcing his constitutional rights, according to Ms. Kang, was the defense’s claim of so-called harassment.

Ms. Lee and Mr. Chua’s attorneys cited a notice of demand from Mr. Zheng, Mr. Ren’s attorney, that was publicly displayed on the wall next to Ms. Lee’s residence in 2020.

Ms Lee filed a complaint with the Law Society of Singapore ( LawSoc ) over this, and Mr Zheng was sanctioned.

But Ms Kang said this debate was “nothing more than a ruse” and a red fish. As LawSoc had now determined, Mr. Ren’s attorney did not purposefully humiliate Ms. Lee or engage in unfair behavior on purpose.

Ren’s lawyer was given a warning for for unwisely posting the demand on Lee’s back door without having the email first put in an envelope, according to Ms. Kang.

She claimed she had demonstrate during the test that Ms. Lee and Mr. Chua had agreed that they were bound by the terms of the agreement” by their do.”

Ms. Kang alleged that they had agreed to have the company pay Mr. Ren’s product back but failed to do so.

Mr Chua had apparently agreed to repay the loan physically, but likewise failed to do so, said the lawyer.

These activities caused Mr Ren to suffer damage and deterioration, said Ms Kang.

She wants Ms Lee and Mr Chua to return the$ 990,000 to Mr Ren, as well as a claim that Ms Lee harmed Homing Holdings by breaking agreements with other businesses to the detriment of Homing Holdings.

In the option, she asked for problems to be assessed against Ms Lee, with interest and fees.

Mr. Salem, who is bringing the case against Ms. Lee and Mr. Chua, claimed that Mr. Ren’s claim will not be supported by any of the judge’s witness’s video evidence.

He claimed he would support the court by conducting cross-examination rather than making “allegations or shaved statements”.

He claimed that there was a” set-up” in order to convince Mr. Chua to agree to pay for the loan and refinance his home and that he” may not be able to move away from what he said in the letters or in the WhatsApp markets.”

Mr. Salem called this incident” an abuse of process” and claimed that some businesses lost money throughout COVID-19, causing some businesses to continue to suffer today.

The lawyer claimed that Mr. Ren may be suing for breach of fiduciary responsibility even if there was proof that Ms. Lee had breached her contract. The company in liquidation should file a complaint about it, according to the lawyer.

The test continues.

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Climate crisis: what Trump can (and can’t) do – Asia Times

Donald Trump did take over as the world’s largest greenhouse gas emission in a while.

During a campaign cycle when America was plagued by climate disasters, neither Trump nor Kamala Harris made the weather issue a dominant part of their efforts. 232 people died in the southeast of the United States as a result of Hurricane Helene, which struck in late September and was overburdened by an unusually warm Atlantic Ocean.

The swing state of North Carolina, which veered sharply in the direction of Trump, was the state where almost half of those deaths occurred. Voters in the state’s also devastated western absenteed from polling places yesterday and voted in houses.

Experts claim that the Earth structure is in a knife’s length between the carbon-rich Amazon rainforest and the slowing down of ocean heat from North Atlantic currents. If either falls, it would point the environment into deeper chaos.

Drill, girl, drill?

Democrats lost in America’s past production hinterland, the western states that presently comprise the” Rust Belt” and the party’s stalwart” Blue Wall”.

The Nixon administration’s creation of the Environmental Protection Agency ( EPA ) resulted from a river that was engulfed in industrial waste that caught fire here in 1969.

The EPA regulates climate pollutants with laws that limit pollution from power plants and automobiles, two of the region’s biggest CO₂ options.

Aerial view of an open-cast coal mine with power plant chimneys in the distance
Over the past ten years, EPA rules has been successful in reducing fuel consumption. Photo: Matthew G Eddy / Shutterstock via The Talk

According to economic policy experts Barbara Haya and Stephen Lezak ( University of Oxford ) and Stephen Lezak ( University of California, Berkeley ),” the policy proposals that Donald Trump and the think tanks advising his plan would turn the tide against America’s fundamental climate laws.”

According to a rightwing manifesto attached to the Trump campaign ( though not formally endorsed by Trump himself ), that could include” a whole-of-government unwinding” in which the EPA’s” structure and mission ]are ] greatly circumscribed”.

” Trump has promised to flame experts in state, place loyalists in their area and choose a ‘ drill, child, drill ‘ mentality”, say Lezak and Haya.

If he chooses to adopt the Project 2025 statement, as it’s known, Trump may also reduce funding for disaster preparedness and thus risk lives unnecessarily during mounting disasters.

The National Oceanic and Atmospheric Administration ( NOAA ), a government agency that has monitored the ocean, studied the weather, and managed the protection of endangered species since 1970, would also be “dismantled” and “privatized.”

According to David Hastings Dunn, a professor of international politics at the University of Birmingham and a Project 2025 expert, Trump’s potential plans for NOAA reflect his wider agenda on the ground.

According to him,” NOAA is one of the main drivers of the climate change alarm industry,” and the ideological response is to banish the scientific body that produces proof that climate change has an impact.

IRAte

Trump may choose to veto the Inflation Reduction Act ( IRA ) from 2022 or to renounce Paris in Paris.

Trump’s first term removed the United States from the Paris Agreement, which mandated that all countries maintain a 2°C global warming limit. A second US exit, or a complete withdrawal from the UN climate negotiations ( another round starts in Azerbaijan ): warns climate scientist Mark Maslin (UCL).

It’s a big deal to pull out one of the world’s superpowers from international negotiations to stop global greenhouse gas emissions, he writes in an email. It also makes it easier for other nations to slow down decarbonization and blame the US for their own inachievability.

At a UN climate conference in New York in September 2019, Mike Pence and Donald Trump. &nbsp, Photo: AC News / Alamy Stock via The Conversation

The IRA extended subsidies for renewable energy until 2032, which was hailed as the Biden White House’s greatest climate achievement.

Investors in wind and solar farms typically receive federal tax breaks as a result of these subsidies. The biggest beneficiary? Banks, according to a study conducted by Durham University geographer Sarah Knuth.

Renewable tax credits were never intended to be Wall Street’s shady subsidy. They now offer significant tax shelters to banks, she claims, even though they do n’t need to file any complicated partnership forms to be incorporated into the law.

Democrats may regret supporting such a subpar model of fostering green energy, according to Knuth, and this is not the only way to finance the green transition.

She says that even the largest banks can only hold so much tax money, and that the rapidly expanding renewable energy sector requires more capital than tax equity investors can provide.

” The most significant corporate tax cuts, such as the one that was proposed under President Trump, can unfortunately shrink the entire market.”

Maslin notes Trump’s vocal support for coal, the dirtiest fossil fuel, but he says he is buoyed by the strength of America’s green industries and” simple economics”.

Trump may stifle the transition away from fossil fuels and allow other nations to thwart action, he claims, but the political and economic case is still unresolved for fossil fuels.

” It is when, not if, fossil fuel ceases to be used as an energy source”.

Jack Marley is Environment Energy Editor, The Conversation

The Conversation has republished this article under a Creative Commons license. Read the original article.

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Budget 2025: Falling short on economic dignity

  • Capex products: What the government will choose to spend money on and what the state will get.
  • Unless SMEs become more successful, pay will stay low for most staff

Often, we hear of the mismatch in salary expectations of fresh job seekers and starting salaries. The sad truth is that 60.8% of fresh graduates earned RM2,000 or less in 2010, and by 2021 – a good 11 years later – starting salaries were still RM2,000 or less for 59.6% of fresh graduates.

Budget 2025: Falling short on economic dignityThe 2025 resources is full of opinions and observations. What else can I contribute to what has already been said, then?

Maybe a reminder of what a resources, beyond the great bright numbers, really ought to reflect.

The latest administration, which had already established its principles in the Malaysia Madani perspective, emphasize six fundamental principles: sustainability, prosperity, development, respect, trust, and compassion, is currently in transition. However, Malaysia Madani was an “effort to travel and reestablish Malaysia’s dignity and splendor,” according to Prime Minister Anwar Ibrahim right away. “.

Anwar’s next year in business, with this being his second expenditure as prime minister and finance minister, was just one month away from releasing the 2025 Budget. The budget’s central point should then be financial dignity, &nbsp.

The typical prevent most commentaries pick on is the minimal fiscal room, with never-ending treatments of what the government ought to do to lessen the imbalance.

Despite our best efforts, we should remember that opex, which is the government’s obligation to pay for its businesses, including salaries and pensions, may be decreased in the near future. No matter how much, these obligations may be paid for. Therefore, the only series items that are of genuine effect moving forward would be the budget items – what the state is choosing to spend on, and what the nation will experience in return.

Choice issues, and the decisions made by this administration should be measured against the key factor, which is respect.

restoring what really counts

Lasting income:

The average wage of the bottom 50% of wage earners only went up by RM56 annually between 2010-2019. Economically speaking, this is society clearly signaling a depreciation for human capital.

Only the best 30 % of homeowners spend on ambitious goods and services, according to a recent statement from Khazanah Research Institute. If 70 % of us are merely trying to survive day by day, we may have a successful business.

Typically, we hear of the imbalance in earnings expectations of new job seekers and starting salaries. The sad truth is that 59.6 % of new graduates ‘ starting salaries were still RM2, 000 or less in 2010 and that 60.8 % of them earned less than that in 2021, which is still reasonably optimistic. Employers ( Okay, boomers ): are quick to point out that Gen Z are merely being impossible.

However, when inflation and living expenses are taken into account, we are basically telling our younger generation that they are for about half what they were in the previous century. Another depressing statistic is that between 2010 and 2019, the average salary for the lower 50 % of wage earners only increased by RM56 yearly. Financially speaking, this is community plainly signaling a loss for human funds.

The government attempts to control this by establishing a minimum wage, which is proposed in Budget 2025 to be increased to RM1, 700 per month starting on February 1st, 2025. Although RM1 700 is still far below what is considered to be a respectable wage, employers are now retaliating, as is expected.

]RM1 = US$ 0.227]

Most commentators fail to take into account the fact that pushing for higher wages is eventually hurt labor by encouraging companies to automate tasks that were previously performed by low-skilled workers ( For more information, see Alesina et al. Chu et al. ( 2018 ) ( 2020 ), Eckardt and Steffen ( 2021 ).

The state will need to reinvest yet more money in replacing the employees who have been replaced, which is a complex cycle. Although this should not serve as a cause for people to remain in low-skilled jobs, it does reduce the options for government legislation.

On the flip side, one should also consider if companies are only penny-pinching. According to data from the Department of Statistics Malaysia’s 2023 database, a fairer view may suggest that 96.9 % of our business organizations are unable to get much-needed capital.

Consider the fact that, according to Bank Negara Malaysia’s Monthly Highlights &amp, Statistics release, there were RM5.98 billion in mortgage programs for the manufacturing industry overall in September 2024. That is a RM2 billion gap in needed cash in just one month. It follows a similar style across various industries and through time.

This is in line with the rise in alternative fundraising ( i .e., peer-to-peer lending, equity crowdfunding, and venture capital ), which was valued at RM3.8 billion in 2023. The Securities Commission views this as a good, and rightfully so, but let’s also make sure we understand that these are RM3.8 billion worth of required funds that our businesses were never willing to fund.

The danger that lenders were unwilling to bear for P2P borrowing has now been transferred to the individual investors, who typically fall into the upper middle class and are above that level. Since P2P’s inception in Malaysia in 2017, regular people have provided SMEs with RM5.96 billion in total, with 98 % of the loans being working capital, compared to 2 % for business expansion. This may be no comfort if you are struggling with your pay test, but odds are your company is struggling also.

In summary, most of our workers wo n’t make much money unless our SMEs gain access to more capital and become more productive. Other than the request to restore small and medium banks, the budget specifically addresses these issues. The online banks may possibly fill these gaps, as several of them have announced the oncoming release of their company bank solutions specifically for SMEs.

Unsustainable family debts

The finance ministry is n’t all that worried, though, as our household debts totaled RM1.57 trillion as of June 2024, which is about 83.8 % of GDP. Countries like Australia, South Korea and Canada have household bills that exceed 100 % of GDP. However, no all debts are created equal.

Debts can be used as leverage to increase money for high-wage workers. With more Malaysians taking on next work, debt is good being used to finance fundamental needs. The funds grants additional cash assistance through the BUDI MADANI software despite numerous attempts to address this problem. One of a long series of overlapping social welfare programs, including those led by multiple functions, is this one. The best-case situation is these programmes provide some inhaling room but only a big programme like a Universal Basic Income can help restore the economic disparity within our society.

Given that our debt to GDP is now close to the self-imposed cap, the cost of funding for a program may be lower. I can just quote John Maynard Keynes ‘ wise statement,” Anything we can do, we may afford.”

Tax as an opportunity opposed duty as a sentence

Economics has a well-known proverb that says you get less from what you income. The idea is based on the idea that some activities can be dissuaded by income. By imposing levies on certain activities or goods, the government properly increases their charge, making them less appealing to individuals and businesses.

  1. Respect at work

Consider the proposal to provide a tax incentive for employers who adopt flexible working arrangements. Employees are clear that they strongly prefer flexible work arrangements. However, the findings are inconsistent. This is the a-wine-a-day research conundrum, in my opinion. For every research that says a glass of wine is good for you, you will be able to find another research that says otherwise. There are so many more benefits to providing a flexible work arrangement by default than just offering an office maintenance fee, the cost of commuter work, and the time and cost savings saved by parents with care-giving responsibilities. Instead of paying taxes on the ( few ) that choose to offer these incentives, the government should tax those who do n’t.

  1. Increasing productivity by maximising our human capital

Additionally, imposing a tax penalty will help with hiring women to work again. We should tax bad behavior rather than encourage good behavior. Not hiring a person because she has not worked for a certain period and has a gap in her resume is discrimination. Another issue is the specific tax incentive that applies to software costs when “implementing flexible work arrangements” is implemented. The government should n’t encourage remote employee monitoring with intrusive software.

  1. Carbon tax

The carbon tax’s introduction is both opportune and welcomed. With the introduction of the EU Carbon Border Adjustment Mechanism ( CBAM ), particularly for our steel industry, carbon taxes will be a burden on us in some way or another.

If we are going to have to pay, we might as well collect it ourselves. It is proposed that the proceeds from this carbon tax will support the development of decarbonization research. Without any information on the tax rate, it is impossible to predict the amount of revenue this will generate. Singapore imposes a carbon tax of SG$ 25/tCO2e currently, but started off at just SG$ 5/tCO2e. If we introduce a rate of RM5/tCO2e ( which is incredibly low ), the energy sector will receive about RM1.4 billion in tax revenue based on emissions from 2022.

The Federation of Malaysian Manufacturers ( FMM) has already expressed concern about the potential rise in electricity tariffs, but more details on the carbon tax should be forthcoming. &nbsp,

I do n’t understand how energy producers can absorb this without passing some of it on to consumers, given that 81 % of our electricity still comes from fossil fuel sources. Given that our energy mix is so low in carbon, there may be a carbon tax that can be levied at the production, distribution, or consumption stages.

Other areas worth mentioning

The Budget 2025 participants in the EV infrastructure industry probably feel a little underwhelmed. Other than the announcement of a sub-RM100k EV, there was no mention at all on further incentives for building out our EV charging infrastructure.

  1. Charge Point Operators experience no love.

The Budget 2025 participants in the EV infrastructure industry probably feel a little underwhelmed. Other than the announcement of a sub-RM100k EV, there was no mention at all on further incentives for building out our EV charging infrastructure.

I’ve previously covered the industry gripes, but my colleagues have a different perspective. A transition to electric vehicles is almost unavoidable, it is safe to say. That being so, we should be able to anticipate that all these vehicles need to be charged while idle ( i. e. overnight, while parked ), and not during transit.

I doubt any of these players will realize a return on their investments due to the rush to construct EV chargers along highways and in public spaces. Most people do n’t seem to understand this, but imagine a time when all EVs will be used in cars. Everyone is going to expect that they can charge their vehicles overnight, the same way we charge our phones and laptops to have it ready to go again the next day.

The main issue will be having enough energy capacity to charge millions of cars overnight, despite the fact that we can outfit every parking bay in every condominium and apartment building in the nation. Energy production and grid capacity are both at issue, not charging-pillar issues.

Ecological fiscal transfer gets a boost

    Half of the Ecological Fiscal Transfer Fund allocation - RM125 million- will be contingent on the performance of state government expenditures related to environmental preservation.

    The Ecological Fiscal Transfer Fund is proposed to increase from RM200 million to RM250 million, which is a 25 % increase, in Budget 2025. This boost is intended to aid state initiatives to protect wildlife and forests. Half of the allocation ( RM125 million ) will be contingent on the performance of state government expenditures related to environmental preservation. Additionally, the Orang Asli community received RM80 million to train and hire 2,500 forest rangers. a positive move.

    Overall, I feel the government is attempting to be bold but is doing it in liberal doses. Will this budget encourage everyone’s economic dignity and help them hit the reset button? Not entirely. In fact, I think many people will have further concerns on how the subsidy rationalisation will affect them, partly self-inflicted by announcements of the plan, without the actual plan itself in place.

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    Chinese internet censors ban anti-West firebrand Sima Nan for a year

    Chinese internet officials have banned controversial&nbsp, ultranationalist blog Sima Nan&nbsp, from posting on his social media accounts, according to solutions.

    The restrictions on the very contentious Taiwanese online influencer known for his fierce anti-West popular takes was anticipated to continue a year, according to two people with knowledge of the situation.

    Both solutions declined to provide an explanation of the ban’s cause.

    He was prohibited from using the programs for a time. However, one source with direct knowledge of the situation said,” I ca n’t talk about what caused the ban.”

    On Friday ( Nov. 8 ), Sima Nan did not respond to the Post’s requests for comment.

    Sima Nan has been active and vocal for more than 20 years, beginning in the 1990s with his condemnation of Falun Gong, a spiritual group Beijing after outlawed.

    Yu Li, his true name, currently has more than 44 million followers on Chinese social media.

    With no formal associations, Sima Nan is seen by many as a symbolic message on the political left, raging on China’s heavily-censored internet against several targets, from businesspeople to the West and democratic intellectuals.

    In those problems, he frequently cites Communist Party philosophy, including Mao Zedong Thought, leading many in the state to feel that his comment have some amount of official support.

    He frequently accuses organizations or individuals of colluding with the United States and defying China’s interests, which is how he is known as” the anti-US fighter.”

    He became a national conversation starter in 2021 when he accused Lenovo of selling condition property for less than their value and paying top executives unasonably higher salaries despite the company’s subpar performance.

    Lenovo’s parent company defended the 2009 price of an equity stake in the company made by China’s major science club, saying it was legitimate and in line with restrictions.

    Sima Nan, who claimed Lenovo of” causing damage to express assets,” went on to post more than 50 films and articles on the subject after being widely shared on social media websites.

    Despite the heated discussion, Beijing did not initiate any inquiries into the matter.

    Sima Nan’s last comments on the US presidential election were posted on Weibo, the short-lived platform Douyin, and WeChat, which he had posted just before the voting started.

    In his final post on Douyin, where he has nearly 38 million followers, he jokingly referred to himself as” the deputy head of Trump’s presidential campaign office in Beijing”, expressing support for the Republican candidate.

    In his last Weibo post, Sima Nan said he preferred Trump because” Trump’s transactional mentality” might help Beijing to take over Taiwan.

    ” To put it bluntly, Trump is a trader. He calls himself a great trader. Trump will cut trade with Beijing and Taipei. He can sell everything. The key is the price”, he said on the Weibo post.

    There are no conclusive links between the Sima Nan ban and other problems.

    In August 2022, the blogger has been banned before for a number of weeks.

    Beijing is attempting to persuade both domestic and international audiences of its commitment to market reforms and support for the private sector with this ban in the face of repeated official pledges.

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    Singapore and China sign 25 agreements at annual top-level bilateral meeting to boost cooperation

    STRENGTHENING FINANCIAL Participation

    With a number of green finance and money markets initiatives, bilateral economic cooperation will grow.

    One tie-up between the central banks of China and Singapore aims to spur natural funding flows. By the end of this year, the Monetary Authority of Singapore announced in a press release on Monday that the practice would be finished.

    This will make cross-border alternative loans, natural bond issuance, and account investments easier to compare the natural taxonomies of Singapore and China.

    In an effort to expand the exposure to China’s bond market for foreign shareholders, MAS and the People’s Bank of China are even conducting a pilot project with the banks of both nations. It will utilize the existing “over-the-counter” bond business model in China.

    Other projects include expanding the range of products on the Shenzhen and Shanghai bourses ‘ Exchange Traded Funds ( ETF ) Product Links, as well as facilitating financial institutions’ access to the Singapore and China markets.

    FACILITATING Business AND Opportunities

    In trade, Singapore and China reiterated their commitment to the China-Singapore Free Trade Agreement ( CSFTA ) Further Upgrade Protocol, which is set to enter into force on Dec 31, 2024, said Singapore’s Ministry of Trade and Industry ( MTI ) in a separate press release.

    China’s primary extensive diplomatic free trade agreement with an Asian nation is the CSFTA. It became effective in 2009, and the most recent prepared improvements were unveiled at JCBC last year.

    According to MTI, Singapore investors and service providers can anticipate “more democratic and open rules” that will allow them to conduct business with China.

    The government added that Singaporean businesses will also gain greater access to China’s economy through a “negative listing” strategy, which means that all industries are automatically opened to investors except those that are exclusively listed.

    ” Importantly, China commits to not limiting foreign ownership restrictions for Singapore buyers in 22 areas such as design, shopping &amp, wholesale, and architectural &amp, urban planning service”, MTI said.

    The Belt and Road Initiative is being promoted in a second deal. It aims to strengthen Singapore and China’s cooperation in places such as policy cooperation, network connectivity, bilateral deal and people-to-people markets.

    “( This ) will provide clearer policy guidance for the next phase of high-quality Belt and Road development, further promoting the joint growth of China, Singapore, and regional countries”, said Mr Ding.

    Since 2013, Singapore has been China’s largest foreign investment in terms of purchase travels, and China has been Singapore’s largest goods trading partner. Bilateral deal in 2023 amounted to US$ 108.39 billion, according to China’s international government.

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    With falling interest rates, have T-bills and savings bonds lost their allure?

    Additionally, Mr. Thum cited items from online banks and financial institutions like Stashaway, GXS, Singlife, and Syfe, which have interest charges that are close to 3 %.

    ” The biggest beneficial is that these are all incredibly low risk purchases”, he said, adding that the minimum sum is as low as S$ 100 for some items.

    According to Mr. Ray Zheng, a client advisor at Providend, owners should find out where their money is actually going with fixed payments or several money. The earnings on products offered by financial institutions may be attractive.

    Alfred Chia, the CEO of SingCapital, noted that some businesses may use this technique to generate higher profits. Buyers need to be aware of what the long-term results may actually get.

    ALTERNATIVES WITH HIGHER LIQUIDITY

    For buyers looking for items without lock-in intervals, fixed income resources and money market funds are two possible solutions, according to Mr Zheng of Providend.

    The first is a collection of investment-grade ties, while the second is a collection of short-term fixed payments managed by a fund manager.

    Both are extremely wet, so buyers can typically withdraw their money as needed.

    A least BBB rating on investment grade bonds indicates that the lender is financially positioned to pay attention to investors.

    ” Ties and fixed income are generally considered to be low-risk equipment”, said Mr Zheng, noting that they are less dangerous than other asset classes like stocks.

    ” When businesses are over, bonds or fixed income lose less than securities”, he said.

    Comparing strong bonds or fixed payments to set money funds and money market funds, maximum investment amounts are usually lower.

    But, Mr. Zheng noted that these funds may be more difficult to understand and less clear than bonds or fixed payments, which are both more difficult to buy and understand.

    Mr Alfred Chia, CEO of SingCapital, said there is potential for capital gains when owners buy a set salary account.

    When interest rates fall, bond rates generally rise. Selling the tie for a higher price may have a positive impact on the investor.

    He even said traders should consider shares in building a healthy, long-term investment.

    ” Come state for low-risk buyers, they may consider an investment portfolio made up of 80 per cent ties and 20 per cent equity”, he said.

    When interest rates fall, the saving cost for firms is lowered. ” Companies that can handle well, they will be able to boost their profit, but finally, equity markets did do well”.

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