Indonesia is set to make halal labelling mandatory for consumer products and services this year with the government assuming greater control of the certifying process from the Muslim-majority nation’s Islamic cleric council.

The three predominantly Muslim countries out of ten in the Association of Southeast Asian Nations (Asean), namely Malaysia, Indonesia and Brunei, are on the way to form a new hub for Islamic finance and the wider halal industry through their current roadmaps to develop the sector.

The worst is yet to come for Dubai’s real estate after prices already plunged close to levels last seen during a crash a decade ago, according to S&P Global Ratings.

Iran’s exports of crude oil were higher than expected in January and are at least holding steady this month, according to tanker data and industry sources, as some customers have increased purchases due to waivers from US sanctions.

Panasonic, Sony, Nissan and now Honda: a recent exodus of Japanese firms from Britain is not solely down to Brexit, analysts say, but it has in many cases accelerated the decision to leave.

Japanese business sentiment worsened in February to levels last seen in late 2016, the Reuters Tankan poll showed, in a sign companies took a hit from weakening demand both at home and abroad in the face of slowing global growth and trade friction.

Stock markets on both sides of the Atlantic mostly softened yesterday after a mixed session in Asia, with investors harbouring growing doubts over the chances of success at US-China trade talks, dealers said.

Although Pakistan has stepped up efforts to attract billions of dollars in foreign investment since the current fiscal year began in July 2018, the investment dropped dramatically in January as concerns resurfaced over whether Islamabad was going to the International Monetary Fund (IMF).

Bank of Japan governor Haruhiko Kuroda said yesterday the central bank was ready to ramp up stimulus if sharp yen rises hurt the economy and derail the path towards achieving its 2% inflation target.

Palladium hit a record high on Tuesday, moving close to $1,500, due to a prolonged supply deficit, while gold rose to a near 10-month high driven by concerns over slowing global growth.

Major Indian indices Sensex and Nifty fell for the ninth consecutive trade session yesterday after heavy selling in the final hour of the trade on account of profit booking.

France and Cyprus launched syndicated bond sales yesterday as eurozone government bond yields were hovering near lows on expectations the European Central Bank will look to boost a faltering economy with cheap loans.