Latest news with #Hafiz
The Star
17 hours ago
- Politics
- The Star
Both sides back MCA's Wong
PETALING JAYA: Youth wings from across the political spectrum have come out in support of Pahang MCA Youth chief Wong Siew Mun, who is under police investigation over her recent remarks on the government's mobile phone data collection initiative. The leaders criticised the investigation as an overreach, saying that Wong was merely raising legitimate concerns relating to public interest. Shared concerns: (From left) Bastien, Hafiz, Faiz and Neow have defended Wong. Barisan Nasional Youth secretary Hafiz Ariffin expressed shock that Wong was summoned to Bukit Aman, noting that the government has pledged to uphold freedom of speech. Hafiz said Wong was simply questioning the move to instruct telcos to provide anonymised mobile data to the government. 'This isn't a political issue. It concerns the privacy of Malaysians. As a political activist, she has every right to raise it,' he said. Barisan Youth communications director Neow Choo Seong echoed that sentiment, urging the Communications Ministry and the Malaysian Communications and Multimedia Commission (MCMC) to re-evaluate their approach to handling such matters. He argued that instead of suppressing dissent, authorities should allow open dialogue and be accepting of differing views. 'We must tolerate differing views and prioritise the people's issues. That's the essence of real reform,' said Neow, who is also MCA Youth information chief. Segamat Umno deputy chief Datuk Bastien Onn said that if Wong is simply voicing grassroots concerns, the authorities should not pursue further action against her. 'It's within the norm of freedom of speech, where it is incumbent on every politician to speak up for the people,' he said. 'The issue is, how will the police handle this without making the other person feel oppressed?' Bersatu Youth vice-chief Faiz Rahmad also defended Wong, saying her remarks were based on publicly available information, including international news reports and government statements. Wong had her statement recorded at Bukit Aman on Wednesday. She is being investigated under Section 505 of the Penal Code and Section 233 of the Communications and Multimedia Act 1998, for allegedly causing public alarm and misusing network facilities. Earlier this month, MCMC clarified that the Mobile Phone Data collection initiative only involves eight types of anonymised data from network providers, and does not include personally identifiable details such as names, IC numbers or phone numbers. Instead, the data types included are the Mobile Station International Subscriber Directory Number, unique ID, mobile country code and GPS coordinates of telco towers, among others. However, MCA president Datuk Seri Dr Wee Ka Siong has called for the initiative to be halted, warning that it could erode public trust and lead to abuse. Dr Wee also questioned the effectiveness of anonymisation, arguing that with advanced technologies, sensitive personal information could still be revealed.
Borneo Post
2 days ago
- Borneo Post
Jobless man in Sibu jailed, ordered caned for handbag theft
Hafiz committed the offence at an eatery along Jalan Bengkel here at around 4pm on June 14, 2025. – Photo by Jane Moh SIBU (June 18): An unemployed man was sentenced by the Magistrates' Court here today to seven months in prison and one stroke of the cane for stealing a handbag. Magistrate Oon Kork Chern convicted Hafiz Dollah, 33, on his own guilty plea to a charge under Section 380 of the Penal Code, which provides imprisonment for up to 10 years and a fine, upon conviction. For subsequent offences, the Section also provides for whipping in addition to imprisonment and a fine. Hafiz committed the offence at an eatery along Jalan Bengkel here at around 4pm on June 14, 2025. According to the facts of the case, the victim – a foreign worker – was dining at the eatery when the accused grabbed her handbag from off the table. She screamed for help and several members of the public chased after the accused, eventually apprehending him at Sibu Central Market and handing him over to the police. The prosecution was conducted by ASP Siti Mariyah Dahari, while Hafiz was unrepresented.
Egypt Today
4 days ago
- Business
- Egypt Today
Planning Ministry signs agreement with over 10 business associations to expand private sector support
Cairo – June 16, 2025: During the 'Development Finance to Foster Private Sector-Led Growth & Jobs' conference, which took place under the patronage and attendance of Prime Minister Mostafa Madbouly, the Ministry of Planning, Economic Development, and International Cooperation established a major partnership with a wide range of prominent business associations and chambers of commerce. The agreement seeks to expand the availability and effectiveness of both financial and non-financial services for private sector enterprises across all governorates in Egypt. This includes enterprises of all sizes—from large corporations to micro-enterprises and startups—who will benefit from the direct and indirect mechanisms provided through the 'Hafiz' platform. These efforts will be coordinated via the Federation of Industries, business associations, the Federation of Chambers of Commerce, and their local branches. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, signed the agreement alongside representatives from the Federation of Egyptian Industries, the Federation of Egyptian Chambers of Commerce, the Confederation of Egyptian European Business Associations (CEEBA), the Egyptian-British Chamber of Commerce, the Egyptian-African Businessmen's Association, the Canadian Chamber of Commerce in Egypt, the Egyptian-Japanese Business Council, the Swiss-Egyptian Business Association, the British Egyptian Business Association, the Egyptian Businessmen's Association, the Egyptian Junior Business Association, and the Italian Chamber of Commerce in Egypt. In her remarks, Rania Al-Mashat emphasized the Ministry's commitment to Egypt's sustainable economic development strategies and alignment with 'Egypt Vision 2030.' She highlighted the importance of fostering partnerships between public and private sectors and activating the role of the Private Sector Participation Unit to integrate private sector efforts within national development priorities, especially focusing on improving the business environment, supporting SMEs, and encouraging sectoral integration. Al-Mashat also explained that the Ministry is working to increase the private sector's utilization of the Hub for Advisory, Finance & Investment for Enterprises platform. The platform offers a range of services and financing options, and the Ministry facilitates easier access for chamber member companies. Ongoing meetings organized by the Ministry through the Private Sector Participation Unit aim to strengthen communication with international development partners and the business community. The Hub was launched by the Ministry as an innovative digital tool to empower the private sector by simplifying access to development financing and technical services. It connects development partners, government bodies, implementing agencies, and businesses of all scales, including SMEs, micro enterprises, and startups. The platform serves as a strategic mechanism to support economic diplomacy and mobilize funds for sustainable development. Since its launch in December 2023, the Hub has expanded its offerings from 62 to over 90 financial and technical support services, provided by 44 bilateral and multilateral development partners. Nearly 18,000 users from the private sector and entrepreneurship community have engaged with the platform. Its database features over 700 companies that have accessed support services, along with more than 1,000 tenders and development initiatives funded by partners in Egypt and over 80 other countries, providing opportunities for growth and access to wider markets.
Daily News Egypt
5 days ago
- Business
- Daily News Egypt
Egypt secures $15.6bn in concessional financing for private sector since 2020: El-Mashat
Minister of Planning, Economic Development, and International Cooperation Rania El-Mashat announced during the 'Development Finance to Foster Private Sector-Led Growth & Jobs' conference that concessional development financing for Egypt's private sector reached $15.6bn between 2020 and May 2025. This financing was provided through more than 30 bilateral and multilateral development partners, with banks and financial institutions accounting for 40% of the total. El-Mashat emphasized that the conference reflects Egypt's strategic shift toward a private-sector-led economy based on competitiveness, partnerships, and sustainability. She highlighted the critical role of development finance in boosting private investment and job creation. The government continues to implement a structural reform agenda focused on macroeconomic stability, enhanced competitiveness, a stronger investment climate, and advancing green transformation efforts. El-Mashat noted that the annual global financing gap to achieve the Sustainable Development Goals (SDGs) is estimated at $4 trillion, according to the UN's 2024 data. However, private sector mobilization through development finance remains below $70bn, based on OECD figures—underscoring the urgent need to scale up such financing. To help bridge this gap, the ministry launched a comprehensive economic diplomacy framework in 2020 to deepen cooperation with international financial institutions and expand the use of innovative financial tools targeting all segments of the private sector—including large corporations, SMEs, microenterprises, startups, and entrepreneurs. In response to the need for clearer communication and coordination between development partners and the private sector, the ministry also introduced the 'Hafiz' platform. The platform provides over 90 services and lists more than 1,000 local and international opportunities, positioning itself as a key entry point for partnerships and technical support. These combined efforts have facilitated development projects across multiple sectors, with total development financing exceeding $15.6bn since 2020. In addition, technical support projects valued at more than $200 million have delivered advisory services, technology transfer, and training to build private sector capacity and broaden market access. One of the notable outcomes includes the acceleration of PPP project implementation—reducing preparation timelines from one year to just two months—thanks to secured funding for feasibility studies and the appointment of legal, technical, and financial consultants. Banks and financial institutions have received over 40% of the total development finance since 2020, while renewable energy, electricity, and logistics sectors together accounted for more than 25%. El-Mashat also announced that Egypt has been selected by the Climate Investment Funds (CIF) as one of only seven countries globally to benefit from its Green Industry Program, which will provide $1bn in concessional financing and technical support to drive green industrial investment. Additionally, she introduced a new coordination mechanism for the European Fund for Sustainable Development Plus (EFSD+), which will offer project guarantees worth €1.8bn. These guarantees, provided through institutions such as the European Investment Bank (EIB), the EBRD, the German Development Bank (KfW), the IFC, and others, aim to attract greater private investment in sectors including renewable energy, food security, human capital, and infrastructure. The minister further noted that Egypt is working to strengthen South-South cooperation and expand market access for Egyptian companies through concessional financing and joint initiatives with partner countries, reinforcing Egypt's emerging role as a regional development and investment hub in Africa. She also revealed that preparations are underway to launch Egypt's national economic development narrative, in collaboration with the World Bank Group. This narrative will define key reform priorities to enhance exports, support local industries, and attract foreign direct investment, thereby contributing to long-term economic stability. €1.8bn Investment Guarantee Mechanism Launched During the conference, Egypt and the European Union unveiled a new €1.8bn Investment Guarantee Mechanism under the EFSD+ initiative. Part of the EU's broader External Investment Plan, the EFSD+ platform seeks to enhance sustainable investment in partner countries, including Egypt. It promotes greater private sector participation by offering innovative financial tools such as guarantees, concessional loans, and blended finance instruments to reduce investment risks and encourage engagement in key sectors like water, energy, agriculture, climate, infrastructure, and digitalization. El-Mashat stated that the mechanism represents a shared commitment between Egypt and the EU to deepen private sector involvement in development. Companies will be able to access investment guarantees through the 'Hafiz' platform, which also offers concessional financing via partner banks, EU-backed risk guarantees, technical assistance, and opportunities in infrastructure and green projects supported by the EU. The guarantee mechanism is supported by key international financial institutions, including the EIB, EBRD, KfW, IFC, and Italy's CDP. These partnerships aim to increase concessional development financing to Egypt's private sector across strategic sectors. Stefano Sannino, Director-General for the Southern Neighbourhood and Middle East at the European Commission, described the initiative as a strategic platform to unlock diverse financial solutions and catalyze investment in Egypt. Under the 'Team Europe' framework, the EU aims to position itself as a long-term economic partner in Egypt's sustainable development. The mechanism is expected to mobilize up to €5bn in public and private investments between 2024 and 2027. $4.2bn in Development Finance Mobilized in 2024 According to the Ministry's Development Financing for Private Sector Empowerment report, Egypt's private sector received over $4.2bn in development financing in 2024—surpassing, for the first time, financing directed to the public sector. This signals a growing shift among development partners toward empowering the private sector as a key driver of the SDGs. From January to May 2025, financing reached $1.14bn, reinforcing expectations of sustained momentum. In total, development financing to the private sector between 2020 and May 2025 amounted to approximately $15.6bn, supported by more than 30 development partners. The European Bank for Reconstruction and Development (EBRD) led all contributors, accounting for 22% of the total. The European Investment Bank (EIB) followed with 21%, reflecting the significant role of European development partners—both bilateral and multilateral—in financing infrastructure and supporting private sector growth in Egypt. Together, European partners have provided approximately $7.3bn, or 47% of the total. The IFC ranked third with a 19% share, underscoring its focus on supporting SMEs and fostering direct investment.
Egypt Today
5 days ago
- Business
- Egypt Today
Egypt signs 6 agreements to accelerate renewable energy
CAIRO – 15 June 2025: At the Development Finance to Foster Private Sector-Led Growth & Jobs conference, the Egyptian government inked six major agreements with international development partners and private sector players, reinforcing its commitment to sustainable energy and economic growth. A key highlight was the financial closure of the Obelisk Solar Power Plant, a flagship project by Norway's Scatec, featuring 1 gigawatt of solar capacity and 200 megawatt-hours of battery storage. With an investment of $600 million, the project is part of the Ministry of Electricity's emergency energy expansion plan and contributes to the energy pillar of Egypt's NWFE (Nexus of Water, Food, and Energy) program. The conference also saw the signing of a Power Purchase Agreement for the Shadwan Wind Project, another Scatec-led venture located in Ras Shukeir, Gulf of Suez. The project will deliver 900 megawatts of wind energy and bring in approximately $1 billion in direct foreign investment, further supporting Egypt's clean energy agenda under NWFE. In a third major step, the International Finance Corporation (IFC) partnered with AMEA Power of the UAE to finance Egypt's first utility-scale battery energy storage facility, integrated within the Abydos Solar Project, another key NWFE initiative. Beyond energy, agreements were signed to expand private sector support through the Hafiz platform. The Ministry of Planning and Economic Development signed an MoU with the Federation of Egyptian Banks to improve access to financial and technical services for local businesses. Additionally, a €21 million investment grant was signed with the European Investment Bank (EIB) to advance Egypt's Sustainable Green Industries Project. Rounding off the agreements, Minister Rania Al-Mashat signed a cooperation deal with 12 representatives from chambers of commerce, business associations, and the Federation of Egyptian Industries to scale up engagement with Hafiz and strengthen support for entrepreneurs and industrial leaders across Egypt.
