Business

Moody's reports global Sukuk issuance expected to remain flat in 2023 after five consecutive years of growth. While Gulf region shows reduced financing needs, Southeast Asian markets like Malaysia and Indonesia continue to drive issuance, with corporate sector activity partially offsetting government reductions.

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Azizi highlights the need for innovative economic strategies, focusing on unique business models and quick adaptation to overcome pandemic-induced challenges in Malaysia's economic landscape.

Malaysia is working to resolve semiconductor order backlogs accumulated during COVID-19 lockdowns. Global supply chain challenges, including factory disruptions in Japan, the US, and Taiwan, along with incidents like the Suez Canal blockage, have complicated semiconductor component production and delivery.

China has announced a $31 million humanitarian aid package for Afghanistan, focusing on economic revival, COVID-19 mitigation, and addressing malnutrition. The aid was proposed by Foreign Minister Wang Yi during a regional diplomatic meeting with neighboring countries.

The Malaysian stock market experienced volatility in 2021, with initial optimism followed by challenges from the Delta variant. Recently, foreign investors injected nearly RM1 billion, helping the FBM KLCI index recover approximately half its previous losses and signaling a potential market turnaround.

Malaysia's 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 people and businesses, with the proposal set to be presented to the cabinet next week.

MIDF research indicates the automotive sector is poised for recovery with government's economic relaxation. Plant reopening and distribution resumption from 16 August will help the industry regain lost production and restart operations across the value chain.

The National Highway Traffic Safety Administration is investigating 765,000 Tesla vehicles with Autopilot after identifying 11 incidents involving crashes near first responder scenes. This follows a previous unresolved investigation from 2017 and raises new safety concerns about Tesla's autonomous driving technology.

Indonesia emerged from recession with impressive 7.07% GDP growth in the second quarter, marking its strongest economic performance in 17 years. The growth exceeded analyst predictions, driven by steady export increases. However, the rising Covid-19 infection rates threaten to complicate the country's economic recovery.

Facebook declares Taliban a terrorist organization, banning their content and accounts. Despite restrictions, Taliban members reportedly use WhatsApp for communication, prompting platform vigilance and potential account removals.