20/06/2026

SATURDAY | JUNE 20, 2026

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Nation exploring use of local currencies with trade partners

PM to officiate at National Journalists’ Day Summit BUTTERWORTH: Penang will be the focus of media professionals from home and abroad today when the National Journalists’ Day (Hawana) 2026 summit takes place. It brings together about 1,000 media practitioners to celebrate the role of journalism in delivering information with integrity and credibility. Themed “Media Integrity Strengthens Credibility”, the summit is scheduled to be officiated by Prime Minister Datuk Seri Anwar Ibrahim at 3pm. Among those expected to attend are Penang Chief Minister Chow Kon Yeow, Communications Minister Datuk Fahmi Fadzil, Communications Ministry secretary-general Datuk Abdul Halim Hamzah and top management representatives from local media companies. Bernama CEO Datin Paduka Nur-ul Afida Kamaludin Nur-ul Afida, who is also chairman of the Hawana 2026 Working Committee, said the day is not only meant to appreciate journalists but also to strengthen professional networks and friendships while bringing the community closer to the media. “ Alhamdulillah , this time we also received support from our agency partner MyCreative Venture under the Communications Ministry.” She said journalists could use the summit to connect with one another and strengthen their relationships. Nur-ul Afida was speaking as a guest on Bernama TV’s Apa Khabar Malaysia programme. She also expressed appreciation to all strategic partners who played an important role in realising the organising of this year’s celebration. The summit will be broadcast live on Bernama TV, with continued broadcast by RTM, TV AlHijrah and local social media platforms. At the event, Anwar is expected to present contributions from Tabung Kasih@Hawana to veterans in need as well as present prizes to the winners of the Hawana-DBP Pantun Festival held on May 9. The Hawana Award and the Hawana Special Award will also be presented to those who have made significant contributions in journalism and the development of public thinking. In conjunction with the event, several programmes are also being held, including the state government dinner with Penang Governor Tun Ramli Ngah Talib. A three-day Riuh Pi Hawana Carnival began yesterday at the Picca Convention Centre parking lot, featuring performances by Exists, Bunkface, Masdo, Sakura Band, Budak Nakal Hujung Simpang, Chelsea Ng and more. The carnival also features more than 24 local creative product brands and 20 food vendors. Hawana is celebrated on May 29 every year in conjunction with the publication of the first edition of the Utusan Melayu newspaper on May 29, 1939. – Bernama

KUALA LUMPUR: Malaysia will “seriously” explore using local currencies with trading partners to mitigate volatile foreign exchange risks, said Prime Minister Datuk Seri Anwar Ibrahim. He said Malaysia is already trading significantly in local currencies with China and Russia, while India had agreed to start trading in its currency or undertake barter trade. Anwar, who is also Finance minister, cited the success of bilateral payment arrangements in domestic currencies, such as with China. He added that trading in local currencies with China has expanded to around 22%-23% of total bilateral trade, “which is actually a large volume” from a low of about 16% some years back. “In our negotiations bilaterally with many countries, we are now starting to explore this very seriously,” said Anwar on Thursday, in response to a question by Russian state-backed television news channel RT’s correspondent Donald Courter. Courter had asked about talks on creating alternative payment systems against Western-dominated systems. Malaysia has been actively expanding cross-border trade settlements in local currencies to reduce dependence on the US dollar and minimise exchange rate risks. There has been significant milestones achieved, led by Bank Negara Malaysia, including bilateral frameworks with major partners such as China, Indonesia and Thailand as well as recently o Move aimed at reducing dependence on US dollar and mitigating volatile foreign exchange risks, says PM

Anwar at a dinner with about 300 members of the Malaysian diaspora in Turkmenistan during his visit. – PIC COURTESY OF PRIME MINISTER’S OFFICE

programme, with a target of 500 projects to be completed and fully implemented this year, is expected to generate potential compliance cost savings of RM2.5 billion for the people and the business community. Shamsul Azri said the civil service would continue to strengthen the reform momentum to ensure that its benefits could be directly felt by the people and the economy. He said the government remains committed to ensuring that every reform translates into more efficient service delivery, reduced regulatory burden, increased productivity and a more conducive environment for economic growth and national competitiveness. – Bernama “I am extremely thankful to President Putin who has given a very supportive view on this, and even the Rais of Tatarstan. Anwar added that despite challenges faced over payment systems and procedures due to restrictions previously, Russia had never breached any business and trade agreements. The Rais of Tatarstan had sat down with Anwar on the sidelines of the Russia-Asean Summit in Kazan to discuss a wide range of topics, including the West Asia conflicts, the economy and cooperation with Russia.

needs since the country is now a net importer of crude oil. “I will certainly push this agenda forward and give it priority.” Anwar said Malaysia produces 50% of its oil, exports liquefied natural gas to countries such as China, South Korea and Japan through long-standing agreements and is “actively exploring in many countries in Central Asia as well as Canada”. He said there is huge potential in pursuing business linkages with Russia ranging from artificial intelligence, cybersecurity, digital and modern agriculture.

with Russia. On Thursday, Anwar and Russian President Vladimir Putin had discussed using the ringgit and ruble in bilateral trade as part of efforts to strengthen economic ties during their meeting in Kazan, Tatarstan, Bernama reported. When asked whether future cooperation with Russia on energy would further solidify Malaysia’s national interests, Anwar said Malaysia’s move to enter into energy supply agreements with certain countries, including Russia, is critical for Malaysia’s economic survival and to fulfil its national

Malaysia placed 15th in World Competitiveness Ranking PUTRAJAYA: Malaysia has jumped eight spots in the 2026 World Competitiveness Ranking (WCR), and is now ranked 15th among 70 economies, marking its best performance in a decade. Chief Secretary to the Shamsul Azri said this shows that reforms implemented to strengthen governance, improve delivery efficiency and reduce bureaucratic burdens are beginning to translate into tangible results for the people and the business community. He said the bureaucracy indicator improved by eight places to sixth in the world compared with 14th in the previous year. He added that these He added that the strengthening of the bureaucratic reform

achievements are in line with the Public Service Reform Agenda, which serves as the main framework for improving government services. Shamsul Azri said the Government Service Efficiency Commitment Act 2025 and its circular, which came into effect on Dec 1, have also been important catalysts for the country’s regulatory reform. He said among the mechanisms introduced were the periodic review of regulatory instruments every three years, a reduction of at least 25% in regulatory burden and a “one in, one out” policy.

“Several indicators related to government efficiency also recorded significant improvements, including the Time to Start a Business indicator, which jumped 38 places from 53rd to 15th.” Shamsul Azri said the improvement was mainly driven by a jump of 29 places for the business legislation sub-factor, which rose from 46th to 17th. Meanwhile, the regulatory burden indicator, introduced in WCR 2026, placed Malaysia 11th in the world.

Government Tan Sri Shamsul Azri Abu Bakar said the achievement reflects the effectiveness of reforms implemented by the Madani government. “For the record, the government’s target is to reach the 12th position by 2030,” he said in a statement. He added that government efficiency, which is one of the four key factors assessed in the report, also recorded an encouraging improvement, up by 11 spots from 25th to 14th.