Tariff fears cloud global factory outlook despite bright spots in Asia and Europe
Concerns over new U.S. tariffs under President Donald Trump are weighing on global manufacturing, though June data show signs of resilience in countri...
Indonesia is set to become the Muslim Fashion center, targeting five Middle Eastern countries—Iran, Turkey, Saudi Arabia, Pakistan, and Egypt—as potential markets for exporting apparel and footwear.
"Given the current market opportunities and the growth of the Muslim fashion industry, we must remain optimistic about maximizing a share of the domestic market and boosting our competitiveness in the global market. " - said Reni Yanita, Director General of Small, Medium, and Miscellaneous Industries at the Ministry of Industry.
Reni stated that the Muslim apparel industry is expected to experience rapid growth in the coming years, in line with the expansion of the global Islamic economic market.
According to Radio Republik Indonesia, the DinarStandard Institute, in its report The State of Global Islamic Economy 2023-2024, projected that Muslim consumer spending across six key sectors would increase to $3.1 trillion by 2027.
In particular, six sectors of the Islamic economy are expected to grow rapidly - food, fashion, media and recreation, travel, pharmaceuticals, and cosmetics.
By 2027, Muslim spend on apparel and footwear is forecast to reach $428 billion.
Reni said that consumption of halal goods and services in Indonesia is expected to reach $330.5 billion this year. Meanwhile, apparel and fashion is the second highest consumed category in the Indonesian halal market.
She invited all stakeholders of the industry, including associations, the textile industry actors, business entities, designers, academia and influencers to contirubute in developing sustainable and competitive Muslim fashion industry.
The Indonesian Fashion Chamber has hosted the Muslim Fashion Festival (MUFFEST), the largest event showcasing the latest trends and designs in Muslim fashion. This year’s MUFFEST+, themed "Connecting in Style" marks its 10th anniversary by showcasing Fashion shows & exhibitions from more than 130 brands and designers.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
Thousands of protesters rallied in Bangkok on Saturday, demanding Prime Minister Paetongtarn Shinawatra resign as political and economic tensions mount.
The Asian Infrastructure Investment Bank (AIIB) and the Arab Fund have signed a memorandum of understanding to formalize a strategic partnership focused on advancing sustainable infrastructure in shared priority regions.
Tesla’s new car registrations plunged sharply in June, dropping 64.4% in Sweden and 61.6% in Denmark compared to last year, highlighting growing challenges for the U.S. electric vehicle maker in these Nordic markets.
More than $2.5 billion in new deals and commitments between the United States and African partners were announced at the 17th summit, underscoring the U.S. commitment to prioritizing trade over aid by engaging Africans as equal partners in investment-driven growth, the State Department announced.
Gold prices edged higher on Monday after slipping to their lowest level in more than a month, supported by a weakening U.S. dollar and easing geopolitical tensions that have tempered safe-haven demand.
The French Riviera town of Cannes will restrict large cruise ships from docking starting from January 2026, as part of new efforts to manage over tourism and protect local infrastructure.
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