China's industrial output hits 17-year low
Beijing, Aug 14: China's economy showed further signs of strain in July with output at its factories falling to its lowest level in 17 years, while investment and retail sales slowed, official data showed Wednesday.
The figures are the latest to highlight how the world's second-largest economy is being battered by an escalating trade war with the United States and slowing global demand.
Industrial output increased 4.8 per cent on-year in July, down from 6.3 per cent in June and marking the weakest pace since 2002. It was also well below the 6.0 per cent forecast by economists in a Bloomberg News survey.
"Given the complicated and grave external environment and the mounting downward pressure on the economy at home, the foundation for sustainable and healthy growth of the economy still needs to be consolidated," said Liu Aihua, a spokeswoman for the National Statistics Bureau, which released the data.
The data also showed China's billion-strong army of consumers were showing signs of becoming more frugal.
Retail sales, which have long been a bright spot for the economy, slowed to a 7.6 per cent rise last month, sharply down from 9.8 per cent in June.
The news highlights the battle China's leaders have in trying to navigate the country's economy from exports and government investment to one driven by domestic consumption.
Fixed-asset investment increased 5.7 per cent in January-July, slowing from 5.8 per cent in January-June.
Growth in gross domestic product slowed to 6.2 per cent in the second quarter of the year -- the weakest pace in almost three decades.
The economic malaise makes it more difficult for President Xi Jinping to fight back forcefully against Washington -- which is using tariffs as leverage to try to force Beijing into opening up its markets.
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Five central organizations of Bhatkal hold joint condolence meet for SM Syed Khalil
Bhatkal: In a heartfelt tribute to SM Syed Khalil, popularly known as C.A. Khalil, five prominent organizations of Bhatkal came together for a joint condolence meeting at Jamia Masjid on Friday night. Khalil, a renowned NRI businessman and respected social and religious leader, passed away recently, leaving behind a legacy of dedicated service to the community.
The event was organized under the joint auspices of Markazi Khalifa Jamaat-ul-Muslimeen, Jamaat-ul-Muslimeen Bhatkal, Jamia Islamia, Anjuman Hami-e-Muslimeen, and Majlis-e-Islah-wa-Tanzeem. Several dignitaries spoke about Khalil’s life, his contributions to society, and his immense impact on education and public service.
Maulana Khaja Mohiuddin Akrami Nadvi, Chief Qazi of Markazi Khalifa Jamaat, described Khalil as a man of deep faith and integrity. “He carried out every task in his life with religious consciousness and immense belief in God,” he said.
Maulana Abdul Rab Khateeb Nadvi, Chief Qazi of Jamaat-ul-Muslimeen, highlighted Khalil’s selflessness, saying, “His simplicity and the great services he rendered without any expectation of reward are an example for all of us.”
Maulana Abdul Aleem Khateeb Nadvi, Khateeb and Imam of Jamia Masjid, emphasized Khalil’s dedication to public service. “He devoted his property, wealth, and personality entirely for the welfare of society. His life was a shining example of commitment to community service,” he remarked.
Speaking on behalf of Anjuman Hami-e-Muslimeen Education Society, Vice President Muhammad Sadiq Pillor lauded Khalil’s contributions to education. “His efforts, especially in promoting girls’ education, are invaluable. He extended his services beyond Uttara Kannada to various parts of the country,” he said.
Inayatullah Shabandri, President of Majlis-e-Islah-wa-Tanzeem, reflected on Khalil’s efforts to secure political representation for the Muslim community. “He worked tirelessly to build strong relationships with national and state leaders, paving the way for the progress of Bhatkal,” he said.
The meeting also saw participation from Khalifa Jamaat Deputy Qazi Maulana Aiman Nadvi, Jamaat-ul-Muslimeen Deputy Qazi Abdul Ahad Farkade Nadvi, Zubair Kola, and SM Arshad of Mohtisham Complexes Pvt. Ltd., among others. Each expressed their grief and admiration for Khalil’s contributions.
At the conclusion of the event, the five central organizations jointly passed a condolence resolution, emphasizing that Khalil’s passing was an irreparable loss not only to Bhatkal but also to the Muslim community across India.
“The void left by CA Khalil, who dedicated his entire life to the welfare of society and the nation, will be hard to fill,” the resolution noted.
The program was conducted by Abdul Raqeeb M.J., General Secretary of Majlis-e-Islah-wa-Tanzeem.
