NEW MALAYSIAN PM
New Malaysian PM vows to lead Malaysia out of economic hard times
KUALA LUMPUR, April 3 -- Malaysia's new Prime Minister Datuk Seri Najib Tun Razak Friday said that he would provide strong leadership to lead the country out of the current economic hard times.
"I know that for every citizen, these are hard times and I remain focused in providing strong leadership to lead us out of this economic crisis and unleash our full potential as a nation," Najib said in his maiden speech on television Friday night as the country's prime minister .
"I will be steadfast in my commitment to meet the needs, aspirations and concerns of all Malaysians, " he said.
He also announced to lift the temporary ban on two news publications, release 13 detainees under the country's Internal Security Act (ISA), and review the Act comprehensively.
"These decisions are timely as we move to enhance the confidence of our citizens in those entrusted with maintaining peace, law and order, while recognizing the need to remain vigilant of the very real security threats we continue to face as a young nation, " he said.
Najib was sworn in as Malaysia's sixth prime minister Friday morning. Outgoing Prime Minister Datuk Seri Abdullah Ahmad Badawi officially handed over the leadership of the Federal Government to him Friday afternoon.
NAJIB FREES 13
NAJIB FREES 13 FROM ISA
Malaysia's new prime minister, Najib Razak, freed 13 people held under security laws in his first act after taking office Friday.
The 13 men had been under indefinite detention. Critics had accused the government of using the tough Internal Security Act to silence opponents. The prime minister said his government would review that law.
He also lifted a recent ban on two opposition newspapers.
Mr. Najib took the oath of office earlier Friday in front of Malaysia's king. The ceremony was broadcast live on national television.
He is expected to announce a new Cabinet lineup next week. The new prime minister faces several challenges, including healing the country's politics, social problems and shrinking economy.
The 55-year-old British educated prime minister replaces Abdullah Ahmad Badawi.
Two Mega Islamic Bank coming up in Malaysia
BANK Negara Malaysia (BNM), the central bank, has given two conditional licenses to separate parties to establish mega Islamic banks in the country. BNM Gov. Zeti Akhtar Aziz confirmed that one of the conditional licenses is likely to be converted into a full license by the end of 2010, with the second one to follow by the end of the first half in 2011.
Malaysia Winner in Attracting Investors\' Cash
Exchange traded funds that track emerging markets have gathered more than $27bn in inflows this year, but two Asian countries, Indonesia and Malaysia, stand out as winners in attracting investors’ cash.
Inflows into Indonesia ETFs have increased to $469.2m in 2010 (January to September), compared with $167.5m for the whole of last year, while Malaysian equity ETFs have grabbed $346.1m, compared with $71.1m in 2009, according to BlackRock.