Economy

MALAYSIA’S trade with the Organisation of Islamic Cooperation (OIC) countries has slightly recovered with double digits growth at 24.6% to US$20.81 billion (RM88.1 billion) from January to May 2021. It was US$16.66 billion in the same period last year. Exports registered US$10.49 billion between January and May this year, a 26.1% increase from US$8.32 billion …

Dubai: The Ministry of Climate Change and Environment (MoCCAE) inaugurated the Youth Food Security Stations on Monday, aimed at building the capacity of young Emiratis to become agricultural entrepreneurs. The network will also serve as a platform for innovative projects that will enhance UAE’s food security and diversify its local food supply chain.   Dr. …

Saudi Arabia’s non-oil economy, the kingdom’s engine of job creation, grew at its fastest pace since 2019 in the first quarter, the government reported, though the expansion was slightly slower than preliminary estimates. The non-oil sector grew 2.9 percent in the first three months of 2021 compared to the same period last year, while the …

A few days back The Halal Times staff had reported that the Indonesian economy was recovering despite the pandemic. Now, we are hearing the news that the growing halal sector in the country has been one of the main driving forces behind the upward trends in the Indonesian economic indicators. That is great news for …

Indonesia says the government will not allow Indonesians to travel for the Hajj due to pandemics and for the safety of the pilgrims’. The country has canceled the Hajj pilgrimage for people in the world’s largest Muslim-majority nation for the second year in a row, due to concerns over the COVID-19 pandemic. For many Indonesians, …

Following one of the toughest and most devastating military operations against the Gaza Strip earlier this month, Gazans are now counting their losses. Two million inhabitants of the coastal strip that has been under blockade for well over a decade experienced their most difficult time during the 11 days of adversity. Some 240 were killed …

The Turkish lira fell to a record 10-year low on Friday amid political controversy, more changes at the Central Bank, the possibility of an early election, and concerns about global inflation. The currency has been the worst performer this year in the emerging markets category. The Turkish currency dropped to 8.61 liras to the US dollar at one …

JAKARTA – Delays in vaccine shipments have set back plans to inoculate a targeted 181.5 million Indonesians by this time next year and could put a damper on the first early shoots of economic growth. As former finance minister Chatib Basri told a recent webinar: “No vaccinations, no economic recovery.” By May 23, 14.9 million people had received …

The Gaza Strip in Occupied Palestine houses some two million people. The territory is 41 kilometers (25 mi) long, and from 6 to 12 kilometers (3.7 to 7.5 mi) wide, with a total area of 365 square kilometers (141 sq mi). Officials in Gaza state that basic supplies and power are running low in Gaza …

Pakistan’s economy is on a solid growth path and has the potential to grow at a much higher rate in the next five years despite a challenging environment across the globe, Dubai-based Khaleej Times reported experts as saying. Top government officials, analysts, and corporate leaders repose trust in the growing economy and said higher GDP …

Saudi Arabia is hoping to speed up privatizations to narrow a budget deficit that ballooned last year due to the pandemic and a slump in oil revenue. The kingdom aims to strike around 15 billion riyals ($4 billion) worth of infrastructure deals with private investors this year, the head of the National Center for Privatization, …

Most Pakistan watchers agree that the country’s economy has become a slave to the elite mafia such as landlords, politicians, the corporate sector, and the military. The United Nations Development Program (UNDP) recently released a report on the issue. The Halal Times believes that most of the contents of the report actually reflect the state …

Is the COVID-19 pandemic in your country within control? This may become, perhaps the most important question for all of us today as the world economies are showing significant performance variations in 2021 due to slower vaccination rollouts and a surge in virus infections in several countries. Up until recently, world leaders had called for …

Minister of Commerce Dr. Majid Bin Abdullah Al-Qasabi has confirmed that the trade relations between the Kingdom of Saudi Arabia and Malaysia have witnessed a great development during the past years. The development comes as a result of the two countries’ keenness to establish strategic partnerships that benefit the two countries. In a statement to …

SMEs will gain new skills and knowledge to grow their business, and undergraduates opportunities to work in real-life business situations. Kuala Lumpur, 11 March 2021 – Alliance Bank Malaysia Berhad (“Alliance Bank” or the “Bank”) has signed a Memorandum of Understanding (“MoU”) with Sunway University Sdn. Bhd. (“Sunway University”) to provide courses to help upskill …

Pakistan and the UAE are working on a new economic roadmap to boost bilateral trade volume and establish joint ventures between the two nations’ businesses and chambers of commerce. This was announced by Islamabad Chamber of Commerce and Industry (ICCI) President Sardar Yasir Ilyas Khan, who met with UAE’s Ambassador to Pakistan Hamad Obaid Ibrahim …