Economy

The World Bank announced on Friday, December 6, a groundbreaking initiative to support the world’s poorest nations, raising nearly $24 billion to generate a total of $100 billion in loans and grants, Al Jazeera reported yesterday. This funding will benefit…

A new World Bank report reveals that the 26 poorest countries, home to 40% of the world’s most impoverished people, are experiencing unprecedented debt levels, with an average debt-to-GDP ratio of 72%, the highest in 18 years, Arab News reported…

According to the World Intellectual Property Organization (WIPO), Switzerland, Sweden, the US, Singapore, and Britain possess the world’s most innovative economies, Anadolu Agency reported yesterday. Meanwhile, Türkiye, China, India, Vietnam, and the Philippines are recognized as the fastest climbers over…

As world leaders convene for the United Nations General Assembly in New York, Oxfam has issued a stark warning about a “global oligarchy” of super-rich individuals wielding excessive control over the global economy, VOA reported in an article yesterday. The…

Bybit, a leading cryptocurrency exchange, has introduced its Islamic Account, the first global platform of its kind, Globe News Wire reported yesterday. Designed to comply with Islamic law, the account offers a range of Shariah-compliant trading products, including spot trading,…

A new study suggests that wealthy nations could generate up to $5 trillion per year for climate finance by implementing measures like windfall taxes on fossil fuels, ending harmful subsidies, and imposing a wealth tax on billionaires, The Guardian reported…

Bitcoin has surged to a dominance level of 57.68%, the highest since April 2019, sparking speculation about a significant market rally, Khaama Press reported yesterday. Currently priced at $59,179, Bitcoin’s recent breakout has caught the attention of investors, particularly as…

Islamic finance is projected to surpass conventional banking growth in the Gulf Cooperation Council (GCC) region, driven by robust economic expansion and increasing demand for Shariah-compliant products, Middle East Monitor reported yesterday citing Moody’s Ratings. Saudi Arabia leads with 85%…