US businesses prepare for halal boom as Muslims to become second largest religious group by 2040

Updated 06 January 2018
Follow

US businesses prepare for halal boom as Muslims to become second largest religious group by 2040

LONDON: Muslims are expected to replace Jews as the second largest religious group in the US after Christians by 2040, according to a new study.
There were 3.45 million Muslims living in the US in 2017, and Muslims made up about 1.1 percent of the total US population, said the report from US think tank Pew Research Centre (PRC).
“Muslims in the US are not as numerous as the number of Americans who identify as Jewish by religion, according to our estimate,” however the US Muslim population will grow “much faster” than the country’s Jewish population, it said.
In 2007, when the study was first conducted by PRC, the body estimated that there were 2.35 million Muslims in the US By 2011, the number of Muslims had grown to 2.75 million.
Since then, the Muslim population has continued to grow at a rate of roughly 100,000 per year, driven both by higher fertility rates among Muslim Americans as well as the continued migration of Muslims to the US.
Scott Lucas, professor of American Studies at the Department of Political Science and International Studies, University of Birmingham, told Arab News he believed the Muslim community in the US is “thriving,” particularly in major cities such as New York, Minneapolis and Detroit.
Lucas said: “Some might find these statistics of interest because of the tensions raised around Islamophobia and the anti-Muslim rhetoric that is whipped up by some leaders and some media outlets, but it’s important to emphasize that Muslims are very much a part of America, they are us and we are them. Muslims practice their faith just as many others practice their faith. The media has created an artificial division.”
Lucas added that despite the rhetoric espoused by US President Donald and the resultant rise in US hate crimes, “the day-to-day reality of Muslims remains one largely of inclusion and going about their daily lives as we all do.”
The professor added that, in parallel with the growing Muslim population in the US, he expected to see the erection of more mosques and the creation of more halal products and services. He added: “However, remember not all Muslims practice their faith by the book, just as not all Jews eat kosher food. People practice their faith in different ways.”
Haroon Latif, director of insights at New York-based research firm Dinar Standard, also predicted an impending spike in demand for halal products in the US.
Latif told Arab News: “The rapid growth of the US Muslim population has substantial implications for business. Muslims are a lucrative consumer segment with an aggregate disposable income of $107 billion in 2015.
“They (Muslims) are tied together by common values and companies are beginning to respond, from halal food to lifestyle products and services, spanning fashion, travel, and financial services.
“US-based companies will increasingly clamor to market to and capture the loyalty of Muslim consumers at home and abroad,” he said.


Trump, sharing leaked texts and AI mock-ups, vows ‘no going back’ on Greenland

Updated 2 sec ago
Follow

Trump, sharing leaked texts and AI mock-ups, vows ‘no going back’ on Greenland

DAVOS, Switzerland/COPENHAGEN: US President Donald Trump on Tuesday vowed there was “no going back” on his goal to control Greenland, refusing to rule out taking the Arctic island by force and rounding on allies as European leaders struggled to ​respond.
Trump’s ambition — spelled out in social media posts and mock-up AI images — to wrest sovereignty over Greenland from fellow NATO member Denmark has threatened to blow apart the alliance that has underpinned Western security for decades.
It has also threatened to reignite a trade war with Europe that rattled markets and companies for months last year, though Trump’s Treasury Secretary Scott Bessent pushed back against what he called “hysteria” over Greenland.
“As I expressed to everyone, very plainly, Greenland is imperative for National and World Security. There can be no going back — On that, everyone agrees!” Trump said after speaking to NATO Secretary General Mark Rutte.
To drive home the message, Trump posted an AI image of himself in Greenland, holding a US flag. Another showed him speaking to leaders next to a map showing Canada and ‌Greenland as part of ‌the United States.
Separately, he leaked messages including from French President Emmanuel Macron, who questioned ‌what ⁠Trump ​was “doing on Greenland.” ‌Trump, who has vowed to impose tariffs on countries who stood in his way, had earlier threatened to hammer French wines and champagnes with a 200 percent tariff.

BESSENT PUSHES BACK AGAINST ‘HYSTERIA’
The European Union has threatened to hit back with trade measures. One option is a package of tariffs on 93 billion euros ($109 billion) of US imports that could automatically kick in on February 6 after a six-month suspension.
Another option is the “Anti-Coercion Instrument” (ACI), which has never yet been used. It could limit access to public tenders, investments or banking activity, or restrict trade in services, the sector in which the US has a surplus with the bloc, including the lucrative digital services provided by US tech giants.
“This is not a ⁠question about the Kingdom of Denmark, it is about the entire transatlantic relationship,” Denmark’s Economy Minister Stephanie Lose told journalists ahead of an EU meeting of economy and finance ministers ‌in Brussels.
“At this point in time, we do not believe that anything should ‍be ruled out. This is a serious situation that, although we ‍would like to de-escalate, there are others who are contributing to escalating it right now, and therefore we will have to ‍keep all options on the table as we move forward.”
Bessent, on the sidelines of the World Economic Forum annual meeting in Davos, Switzerland, said a solution would be found that ensures national security for the United States and Europe.
“It’s been 48 hours. As I said, sit back, relax,” he said. “I am confident that the leaders will not escalate and that this will work out in a manner that ends up in ​a very good place for all.”
Asked about the prospect of a prolonged trade war between the United States and Europe, Bessent replied: “Why are we jumping there? Why are you taking it to the worst case?... Calm down the ⁠hysteria. Take a deep breath.”
However, in her own speech in Davos, European Commission President Ursula von der Leyen said the series of recent geopolitical shocks will force the EU to build a new independent Europe.
“We will only be able to capitalize on this opportunity if we recognize that this change is permanent,” she said.

RUSSIA QUESTIONS DANISH SOVEREIGNTY OVER GREENLAND
Trump will also this week attend the Davos gathering of the global political and business elite. Swiss newspaper NZZ reported that protesters marched in Zurich, Switzerland, late on Monday, carrying a giant banner saying: “TRUMP NOT WELCOME. NO WEF! NO OLIGARCHY! NO IMPERIALIST WARS!“
The foreign minister of Russia, which has been watching with glee as Trump’s drive to acquire Greenland widens splits with Europe, said on Tuesday that Greenland was not “a natural part” of Denmark.
Trump’s renewed tariff threats against European allies have revived talk of the ‘Sell America’ trade that emerged in the aftermath of his sweeping levies last April.
Stock markets bore the brunt on Monday of fears that the trade war could re-escalate, with European equities dropping over 1 percent and US stock futures taking a similar hit that points to weakness ‌following Monday’s US public holiday.
The dollar was on the back foot too, a sign that the world’s No.1 reserve currency was also in the crosshairs of Trump’s threat on Saturday to increase tariffs on Europe.