Portal:Business

The Second Malaysia Plan was an economic development plan set out by the government of Malaysia, with the goal of implementing the aims of the New Economic Policy. It aimed to "restructure" Malaysian society and overturn Chinese Malaysian and foreign hegemony in the economy of Malaysia so that the Malays would not be disadvantaged economically. Although the First Malaysia Plan had also set out to tackle the problem of poverty, especially among the Malays, it had not been very successful, and may have been a factor in the May 13 Incident when racial rioting broke out in Kuala Lumpur. The Second Malaysia Plan was regarded by some as excessive in its zeal to increase Malay participation in the economy, and the government accordingly scaled back the emphasis on restructuring the economy when the plan ended.

Casablanca Economic Capital of Morocco

The economy of Morocco is considered a relatively liberal economy, governed by the law of supply and demand. Since 1993, in line with many Western world changes, Morocco has followed a policy of privatisation. Morocco has become a major player in African economic affairs, and is the 5th largest African economy by GDP (PPP). The World Economic Forum placed Morocco as the most competitive economy in North Africa, in its African Competitiveness Report 2014–2015 Archived 19 January 2022 at the Wayback Machine.

The economic system of the country is characterised by a large opening towards the outside world. In the Arab world, Morocco has the second-largest non-oil GDP, behind Egypt, as of 2017. Since the early-1980s, the Moroccan government has pursued an economic programme toward accelerating economic growth with the support of the International Monetary Fund, the World Bank, and the Paris Club of creditors. From 2018, the country's currency, the Moroccan dirham, is fully convertible for current account transactions; reforms of the financial sector have been implemented; and state enterprises are being privatised. (Full article...)

"Corporate managers have directed a great deal of attention to defining their businesses as a crucial step in strategy formulation. Theodore Levitt, in his classic 1960 article in HBR, argued strongly for avoiding the myopia of narrow, product-oriented industry definition. Numerous other authorities have also stressed the need to look beyond product to function in defining a business, beyond national boundaries to potential international competition, and beyond the ranks of one’s competitors today to those that may become competitors tomorrow. As a result of these urgings, the proper definition of a company’s industry or industries has become an endlessly debated subject.

One motive behind this debate is the desire to exploit new markets. Another, perhaps more important motive is the fear of overlooking latent sources of competition that someday may threaten the industry. Many managers concentrate so singlemindedly on their direct antagonists in the fight for market share that they fail to realize that they are also competing with their customers and their suppliers for bargaining power. Meanwhile, they also neglect to keep a wary eye out for new entrants to the contest or fail to recognize the subtle threat of substitute products."

—Michael Porter, How Competitive Forces Shape Strategy, 1979

• ... that Ruffian Games co-developed Kinect games to stay in business after the release of Crackdown 2?
• ... that after Lew Dickey Sr. broke into the radio business by buying a station in West Virginia, his son would go on to own Cumulus Media?
• ... that Celine-Marie Pascale's work focuses on how race and class impact the way "business practices and government policies create, normalize and entrench economic struggles" to benefit the wealthy?
• ... that women- and minority-owned businesses built the Frequent Express high-capacity bus line in Portland, Oregon?
• ... that Peachtree Arcade, a shopping arcade in the U.S. state of Georgia, was conceived after a local businessman visited the Cleveland Arcade?
• ... that Roddie Fleming was expecting to inherit the family business, but it was sold to Chase Bank instead?

June 10:

• 2012 - Sudono Salim, Chinese-Indonesian businessman, founder of Bank Central Asia, died on this day.

• ...that Robert Solow, a Nobel Laureate American economist, was awarded the National Medal of Science in 1989 for "his creation of the modern framework for analyzing the effects of investment and technological progress on economic growth"?

• ... that David Ricardo formulated the principle of comparative advantage in his "On the Principles of Political Economy and Taxation" book?

• ... that the Heckscher–Ohlin model was developed by Bertil Ohlin in 1933?

• ... that the term lean manufacturing was coined in the book The Machine that Changed the World?

• ... that the Nobel Memorial Prize in Economic Sciences was not created by the will of Alfred Nobel?

• ... that the Federal Reserve System was created in the aftermath of the panic of 1907?

• ... that Manufacturing resource planning was developed at IBM?

Wikinews Economy and business portal

• July 21: Technological University Dublin senior lecturer Dr Lorcan Sirr speaks to Wikinews on housing market in Ireland
• July 15: California governor signs new state budget, eligible Californians to get stimulus payments
• July 4: 130 OECD countries agree to back global corporate tax rate
• June 30: 'Each makes the other more difficult to recover from': University of Sussex professor L. Alan Winters speaks to Wikinews on trade, COVID-19, Brexit
• June 16: Wikinews interviews Victor Kline, leader of newly registered The New Liberals party in Australia
• April 23: Irish Finance Minister Donohoe criticises OECD's global minimum corporate tax rate
• April 17: People protest in Berlin against German Court overturning five-year rent cap
• March 5: Chancellor Rishi Sunak announces UK budget 2021
• February 10: Disney to shut down Blue Sky Studios, animation studio behind 'Ice Age'
• January 24: World Trade Organization declares US tariff hike illegal, rules in South Korea's favour