Business

Moody's reports global Sukuk issuance will remain flat in 2023 after five years of growth. Higher crude prices reduce Gulf governments' financing needs. Southeast Asian markets like Malaysia and Indonesia drive first-half issuance, with a 3% increase to US$102 billion, while Gulf region volumes decline.

Finance Minister Tengku Zafrul emphasizes the need for unique economic reform strategies, highlighting innovative business models and production techniques as critical for Malaysia's future economic progress during challenging pandemic times.

Malaysia is working to address semiconductor order backlogs that emerged during the pandemic. Lockdown-related operational suspensions, combined with global manufacturing disruptions like factory incidents and the Suez Canal blockage, have significantly impacted integrated circuit component supplies worldwide.

China has pledged $31 million in humanitarian aid to Afghanistan, focusing on economic revival, pandemic response, and addressing malnutrition. The aid package was announced by Foreign Minister Wang Yi during a regional diplomatic meeting, emphasizing collaborative efforts to rebuild Afghan society. [100 words]

In early 2021, the stock market initially showed promise with rising commodity prices and global economic recovery hopes. The Delta variant disrupted market momentum, causing the MSCI emerging market index to slip. Recently, foreign investors injected nearly RM1 billion into equities, helping the local benchmark index FBM KLCI recover approximately half its previous losses.

Malaysian Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz plans to propose raising the statutory debt limit to 65% of GDP. Currently at 58%, the government aims to provide financial support for businesses and citizens, with the proposal set to be presented to the cabinet next week.

MIDF research indicates the automotive sector is preparing for sustainable recovery. With plant re-openings and resumed operations from 16 August, the industry expects to regain production losses from the past two and a half months. Completely-knocked-down kits remain well-stocked, supporting potential growth.

The National Highway Traffic Safety Administration (NHTSA) is investigating 11 documented crashes involving Tesla vehicles with Autopilot engaged near first responder scenes. Approximately 765,000 U.S. Tesla vehicles manufactured since 2014 are included in this safety probe, which follows a previous uninvestigated incident in 2017.

Indonesia's economy rebounds strongly with 7.07% growth in Q2, marking its best performance in 17 years. However, the recovery is threatened by increasing COVID-19 cases, potentially impacting future economic progress and stability.

Facebook has declared the Taliban a terrorist organization and will ban content supporting the group. Despite restrictions, Taliban members reportedly continue using WhatsApp for communication. The company says it is monitoring accounts and will take action against those linked to the organization.