Indonesia to Check Grocery Shelves as Deadline for Halal Labels Nears

A halal label is seen on a pack of food displayed to sell at a mini market in Jakarta, Indonesia, February 15, 2019. (Reuters)
A halal label is seen on a pack of food displayed to sell at a mini market in Jakarta, Indonesia, February 15, 2019. (Reuters)
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Indonesia to Check Grocery Shelves as Deadline for Halal Labels Nears

A halal label is seen on a pack of food displayed to sell at a mini market in Jakarta, Indonesia, February 15, 2019. (Reuters)
A halal label is seen on a pack of food displayed to sell at a mini market in Jakarta, Indonesia, February 15, 2019. (Reuters)

Indonesian authorities plan to inspect grocery store shelves to check compliance with a law requiring halal labels on food items from Friday, officials said, although some importers and restaurants face hurdles in complying.

The world's biggest Muslim-majority country adopted a measure in 2014 requiring the labelling for restaurants and food products, setting an Oct. 17 deadline to ensure items are suitable for consumption under Islamic law.

While most businesses in the nation of 280 million have complied, along with some major global food producers, others say they need more time.

"They (some members) want to be part of Indonesia's strong market for halal products, but are still encountering complex supply chains and lack of clear guidelines," said Lydia Ruddy, managing director of the American Chamber of Commerce.

"These potentially can lead to trade disruptions and higher costs," she told Reuters, adding that AmCham was in talks with the government on the matter.

She called for more foreign certifiers to speed inspection of products and raw materials abroad so as to help the affected AmCham members.

The law requires products or restaurants without the certification to declare they do not comply with the law, a step that could hit sales.

Islamic law prohibits consumption of pork or intoxicants such as alcohol, while meat can only be eaten if the animals were slaughtered by prescribed methods.

The halal certifying body BPJPH has asked the government for a two-year waiver on some raw materials used in the food and beverages industry, as well as products of small businesses, but the president has yet to sign off, its head, Aqil Irham, said.

With Indonesia's President-designate Prabowo Subianto set to take over from the incumbent Joko Widodo next weekend, it was not clear if such a dispensation could be issued in time.

The presidential office did not immediately respond to request for comment.

The trade ministry deferred questions on the waiver to the BPJPH.

Authorities plan inspections on Friday to check compliance and issue a formal warning to producers of items that lack clear labels, said domestic trade official Moga Simatupang.

"We will take administrative action against non-compliance, so we urge importers to immediately register to get halal labels," he added.

In the absence of compliance, such products will be removed from stores, he added, without setting a timeframe.

Most of the 400 members of the Indonesian Food and Beverage Industries Association have complied, but restaurants and hotels face difficulties because authorities need time to check menu offerings, said Adhi Lukman, the group's chairman.



IMF Board to Review Staff-level $8.1 Bln Agreement for Ukraine

The city's downtown on a frosty winter day, amid Russia's attack on Ukraine, in Kyiv, Ukraine February 19, 2026. REUTERS/Alina Smutko
The city's downtown on a frosty winter day, amid Russia's attack on Ukraine, in Kyiv, Ukraine February 19, 2026. REUTERS/Alina Smutko
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IMF Board to Review Staff-level $8.1 Bln Agreement for Ukraine

The city's downtown on a frosty winter day, amid Russia's attack on Ukraine, in Kyiv, Ukraine February 19, 2026. REUTERS/Alina Smutko
The city's downtown on a frosty winter day, amid Russia's attack on Ukraine, in Kyiv, Ukraine February 19, 2026. REUTERS/Alina Smutko

The International Monetary Fund on Thursday said its board ​would review a staff-level agreement for a new $8.1 billion lending program for Ukraine in coming days.

IMF spokeswoman Jule Kozack told reporters that Ukrainian authorities had completed the prior actions needed to move forward with the request ⁠of a new ⁠IMF program, including submission of a draft law on the labor code and adoption of a budget.

She said Ukraine's economic growth in 2025 ⁠was likely under 2%. After four years of war, the country's economy had settled into a slower growth path with larger fiscal and current account balances, she said, noting that the IMF continues to monitor the situation closely.

"Russia's invasion continues to take a ⁠heavy ⁠toll on Ukraine's people and its economy," Kozack said. Intensified aerial attacks by Russia had damaged critical energy and logistics infrastructure, causing disruptions to economic activity, Reuters quoted her as saying.

As of January, she said, 5 million Ukrainian refugees remained in Europe and 3.7 million Ukrainians were displaced inside the country.


US Stocks Fall as Iran Angst Lifts Oil Prices

A screen displays a stock chart at a work station on the floor of the New York Stock Exchange (NYSE) in New York City, US, April 6, 2022. REUTERS/Brendan McDermid
A screen displays a stock chart at a work station on the floor of the New York Stock Exchange (NYSE) in New York City, US, April 6, 2022. REUTERS/Brendan McDermid
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US Stocks Fall as Iran Angst Lifts Oil Prices

A screen displays a stock chart at a work station on the floor of the New York Stock Exchange (NYSE) in New York City, US, April 6, 2022. REUTERS/Brendan McDermid
A screen displays a stock chart at a work station on the floor of the New York Stock Exchange (NYSE) in New York City, US, April 6, 2022. REUTERS/Brendan McDermid

Wall Street stocks retreated early Thursday as worries over US-Iran tensions lifted oil prices while markets digested mixed results from Walmart.

US oil futures rose to a six-month high as Iran's atomic energy chief Mohammad Eslami said no country can deprive the Islamic republic of its right to nuclear enrichment, after US President Donald Trump again hinted at military action following talks in Geneva.

"We'd call this an undercurrent of concern that is bubbling up in oil prices," Briefing.com analyst Patrick O'Hare said of the "geopolitical angst."

About 10 minutes into trading, the Dow Jones Industrial Average was down 0.6 percent at 49,379.46, AFP reported.

The broad-based S&P 500 fell 0.5 percent to 6,849.35, while the tech-rich Nasdaq Composite Index declined 0.6 percent to 22,621.38.

Among individual companies, Walmart rose 1.7 percent after reporting solid results but offering forecasts that missed analyst expectations.

Shares of the retail giant initially fell, but pushed higher after Walmart executives talked up artificial intelligence investments on a conference call with analysts.

The US trade deficit in goods expanded to a new record in 2025, government data showed, despite sweeping tariffs that Trump imposed during his first year back in the White House.


Gold Advances on US–Iran Tensions as Markets Weigh Fed Policy Path

UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola/File Photo
UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola/File Photo
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Gold Advances on US–Iran Tensions as Markets Weigh Fed Policy Path

UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola/File Photo
UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola/File Photo

Gold prices extended gains on Thursday after rising more than 2% in the previous session, as lingering tensions between the United States and Iran prompted a flight to safety, while investors evaluated the Federal Reserve's monetary policy path.

Spot gold rose 0.2% to $4,989.09 per ounce by 1227 GMT. US gold futures for April delivery held steady at $5,008.60.

"Geopolitical concerns are front and centre with reports that, if the US were to take military action against Iran, it could go on for several weeks," said Jamie Dutta, market analyst at Nemo.money, Reuters reported.

Some progress was made during Iran talks this week in Geneva but distance remained on some issues, the White House said on Wednesday.

FED LARGELY UNITED

Top US national security advisers met in the White House Situation Room on Wednesday to discuss Iran and were told all US military forces deployed to the region should be in place by mid-March.

Meanwhile, the Fed's January minutes showed it largely united on holding interest rates steady, but divided over what comes next, with "several" open to rate hikes if inflation remains elevated, while others were inclined to support further cuts if inflation recedes.

The weekly jobless claims data, due later in the day, and Friday's Personal Consumption Expenditures report, the Fed’s preferred inflation gauge, will provide further clues on the central bank's policy trajectory.

Markets currently expect this year's first interest rate cut to be in June, according to CME's FedWatch Tool.

Non-yielding bullion tends to do well in low-interest-rate environments.

Spot silver rose 0.9% to $77.87 per ounce after climbing more than 5% on Wednesday.

Silver is "supported by tight supply and low COMEX stock levels ahead of the delivery period of the March contract. However, given the extent of the historic correction earlier this month, silver is not back on safer ground until it trades back above $86," said Ole Hansen, head of commodity strategy at Saxo Bank.

Spot platinum fell 0.6% to $2,059.55 per ounce, while palladium lost 1.7% to $1,686.47.