Economy

Nestlé to Cut 16,000 Jobs in Global Restructuring Plan ………….. Nestlé has announced plans to cut 16,000 jobs over the next two years as part of a global effort to reduce costs and boost sales, The Guardian reported. The Swiss…

Trio Wins Nobel Economics Prize for Work on Technology-Driven Growth ———————————————- Three experts who pioneered the explanation of how technology fuels economic expansion have been awarded the 2025 Nobel Prize in Economic Sciences, according to The Guardian. The Royal Swedish…

WTO Raises 2025 Global Trade Growth Forecast to 2.4% ————————– According to Anadolu Agency, the World Trade Organization (WTO) has significantly increased its global merchandise trade growth forecast for 2025 to 2.4%, up from an earlier projection of 0.9%. The…

Gold Prices Hit Record Highs Amid Speculation of U.S. Rate Cuts ———————————————– Gold prices surged again on Tuesday, reaching a record US $3,755 per ounce, up 0.22% by 07:30 GMT, according to Anadolu Agency. Over the past year, gold’s value…

WTO Fisheries Subsidies Deal Enters Into Force —————————– The World Trade Organization (WTO)’s landmark Agreement on Fisheries Subsidies has officially entered into force, marking a major milestone in global efforts to promote environmental sustainability and curb practices that contribute to…

Global Food Prices Hit Highest Level in Over Two Years, Driven by Meat and Vegetable Oils ……………… The United Nations Food and Agriculture Organization (FAO) reported that global food commodity prices rose in July 2025 to their highest level in…

Global Poverty Declines, But Challenges Remain: World Bank Updates Poverty Line ……………… The World Bank has announced an update to its international poverty line, raising the threshold from $2.15 to $3 per day for low-income countries, reflecting rising living costs…

ICJ Rules States Accountable for Climate Harm, Setting Landmark Legal Precedent ————————————— The International Court of Justice (ICJ) on Thursday delivered a historic ruling holding states accountable for climate change-related harm, Anadolu Agency reported. This marks the first time the…

A Reuters investigation found 21 incomplete schemes that once promised clean water, reliable sanitation and flood protection to millions; health officials warn the interruption may fuel disease outbreaks and undermine regional stability. Since January 2025, Washington has cancelled hundreds of…

Financial crime has escalated in recent years, with illicit flows exploiting weaknesses in traditional banking models. An opinion piece in Daily Sabah argues that Islamic finance ethics—rooted in prohibiting riba (interest), gharar (excessive uncertainty), and maysir (gambling)—offer a robust framework…