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Asia-pacific

Malaysia

MDEC: $2.8tn ripe for digitalisation in global Islamic economy

Muslims worldwide estimated to spend $2.8tn by 2025 on Islamic faith-inspired consumption needs – and Malaysia looks to capture digitalisation opportunities in the sector through MDEC

Islamic Digital Economy

Startups injecting fresh innovations to Malaysia’s Islamic Digital Economy

The ASEAN nation continues to be an excellent market for Islamic fintech players to make a mark in the region

Investcorp Tokyo Japan

Bahrain’s Investcorp launches presence in Japan

The firm has appointed Professor Heizo Takenaka as the chairman of Investcorp Japan

Tajikistan-China

Magnitude 7.2 earthquake strikes Tajikistan-China border

It occurred near the border between the northwestern Chinese Xinjiang Uyghur Autonomous Region and Tajikistan’s Gorno-Badakhshan

Qatar

Qatar Airways Cargo resumes passenger freighter service to Penang

The service will recommence from February 2, 2023

Mashreq acquires digital banking license to commence operations in Pakistan

Mashreq acquires digital banking licence to commence operations in Pakistan

The lender aims to invest in the country’s rural infrastructure, including microfinance institutions

Apple

Key Apple partners plan expansion in Southeast Asia in 2023

In addition to producing iPhones in China, Foxconn and Pegatron now make some of Apple’s iconic handsets in India

Emirates to resume passenger services to Shanghai, Beijing

Dubai’s Emirates to resume passenger services to Shanghai, Beijing

The carrier’s four weekly flights to Guangzhou will also increase to a daily service from February 1

UAE, Japan to sign MoU on establishing joint business council

The formation of the council is aimed at developing joint projects and exchange expertise

codeshare agreement

Abu Dhabi’s Etihad, Garuda Indonesia expand codeshare agreement

The expansion of the agreement will strengthen both airlines’ networks beyond Abu Dhabi and Jakarta hubs

Japan

Emiratis can travel to Japan without a visa from November 1

The decision coincides with the launch of the Comprehensive Strategic Partnership between the UAE and Japan

Dubai’s Emirates A380 touches down in Bengaluru

The special service arrived on October 14, ahead of scheduled A380 operations which will commence on October 30

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE

Non-oil trade between UAE, China crosses Dhs1.72tn in 10 years

Non-oil trade between the two countries in the first half of 2022 amounted to Dhs118.4bn

Indian exports to GCC rise 44% to $43.9bn in FY 2021-22: FIEO

FIEO officials said paper and allied products exports to the GCC touched $638m in 2021 with the UAE taking a major share in the trade at $386m

Samsung

Samsung warns chip industry is headed for tough close to 2022

Samsung announced plans for an advanced $17bn chip plant in Taylor, Texas, with construction slated to start later this year

Whatsapp

WhatsApp rolls out in-app shopping product with India’s JioMart

The new feature lets users in India shop for products from JioMart, and pay for them directly within the app

IPOs

Here are Asia’s biggest IPOs to watch for the second half

Share sales globally plummeted some 70 per cent from a year ago in the first half, to levels not seen in almost two decades

UAE, Indonesia sign agreement

UAE, Indonesia sign comprehensive economic partnership agreement

The pact will help increase annual bilateral trade to $10bn within five years by removing trade barriers on a range of goods and services

UAE President receives Indian Prime Minister

Narendra Modi offered his condolences to the UAE President and the people on the passing of Sheikh Khalifa bin Zayed Al Nahyan

Mukesh Ambani resigns, son Akash Ambani succeeds as chairman

Mukesh Ambani resigns, son Akash Ambani succeeds as chairman

Mukesh will continue to be the chairman of Jio Platforms Ltd, the flagship company that owns all Jio digital services brands

Kindle

Amazon to shut Kindle store in China

The e-commerce giant will discontinue the Kindle eBook store on June 30, 2023

Plane crashes in Nepal with 22 aboard, all bodies recovered

Of those on board, 13 were citizens of Nepal, while four others were Indians and two were Germans

Panasonic readies new battery Tesla sees as key to $25,000 EVs

Panasonic will start mass production of 4680 batteries in the fiscal year starting April 2023

Dubai’s Emirates, Garuda Indonesia launch codeshare partnership

Emirates customers will have access to seven domestic points in Indonesia beyond Jakarta and Bali

Toyota to resume Japan production after supplier cyberattack

The one-day domestic production stoppage likely impacted around 13,000-vehicles worth of production for the automaker

Human Logic - Gamalearn partnership

Human Logic, Gamalearn collaborate to support region’s education sector

The organisations plan to integrate their technological solutions to boost the growth of the education industry

OPEC+ warns of response as Biden poised for oil reserve release

The Organization of Petroleum Exporting Countries and its allies will meet on December 2

Reliance pulls plan to sell oil-to-chemicals stake to Aramco

Reliance and Aramco had signed a non-binding letter of intent in August 2019 for a potential 20 per cent stake in Reliance’s oil-to-chemicals unit

Indonesia wealth fund, DP World ink pact for port development

The two entities will form a consortium to explore long-term investment opportunities across the country

Fuel prices spike across Asia as global energy crunch takes hold

The electricity crisis is roiling energy markets from Europe to Asia