As reported in a recent report, the Indonesian parliament passed a Shariah or Islamic banking bill into law on June 17, 2008 to provide legal base for operating the Shariah banking industry in Indonesia, the most populous Muslim country of the world.
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Islamic banking is witnessing a strong continuous growth at a rate of about 35% across the globe, with assets of financial institutions reaching a phenomenal $600 Billion in 2007, as reported by Arab News. Furthermore, the number of operating Islamic banks reached nearly 470 in 2007, a significant increase from the 276 banks operating in 2005.
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The industry research company IMS Research revealed that Brazil is likely to secure a large part of the pharmaceutical market worldwide. The country is, among with seven other emerging pharmaceutical markets (Russia, India, Turkey, South Korea, Mexico and China), likely to share a quarter of the global pharmaceutical industry in coming years, as reported by Outsourcing-Pharma.
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The Chinese software industry has grown significantly, mainly due to rapid growth in such industries as finance, petrochemical, telecom, petroleum and railway. Moreover, the software enterprises have grown much wider and deeper than the previous single software development.
According to analyst and consulting firm Ovum, the revenues from the cell phone market are projected to reach about US$ 1.019 trillion with nearly 4.99 billion connections by 2012. This indicates the rapid transitions taking place in the wireless market worldwide, as reported by DIGITIMES.
