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Inevitably, though, the laws of economics have reasserted themselves. Since oil prices plummeted, and world stock markets crashed last fall, some $75 billion worth of real estate projects have been suspended and canceled in Dubai, according to a report by the local branch of HSBC bank. Business journal the Middle East Economic Digest puts the figure at more than $300 billion. Postponed developments include the World, a luxury man-made island community designed to resemble a world map, and Dubailand, a theme park planned to be twice the size of Florida's Disney World. Housing prices have fallen...
Going Mainstream Today, though, the big business is in working out how to serve the increasingly sophisticated Muslim consumer. "The question now for companies is: What products and services are you going to provide to help Muslims lead the lifestyle they want to lead?" asks the Halal Journal's Abdullah. It's a code worth cracking. A 2007 report from the global ad agency JWT describes the Muslim market thus: "It's young, it's big, and it's getting bigger." Parts of it are well-educated and wealthy. The buying power of American Muslims alone is estimated...
That's less of a problem elsewhere. Indeed, the most innovative new halal products and services often come out of Europe and Southeast Asia, places where your average food supplier or bank may know little, if anything, about halal. In Europe - the biggest growth region according to the Halal Journal - young devout Muslims are hungry for Islamic versions of mainstream pleasures such as fast food. "The second- and third-generation Muslims are fed up with having rice and lentils every day," observes Darhim Hashim, CEO of the Malaysia-based International Halal Integrity Alliance. "They're saying, 'We want pizzas...
Sources: New York Times; Wall Street Journal; Reuters; Huffington Post; CNN; New York Times; Washington Post
...long-cherished Memorial Day tradition of wearing red poppies got its start in 1915. While reading Ladies' Home Journal, an overseas war secretary named Moina Michael came across the famous World War I poem "In Flanders Fields" by John McCrae, which begins, "In Flanders fields the poppies blow/ Between the crosses, row on row." Moved, she vowed always to wear a silk poppy in honor of the American soldiers who gave up their lives for their country. She started selling them to friends and co-workers and campaigned for the red flowers to become an official memorial emblem. The American...