Turkey has raised its year-end inflation forecast to 28.4 percent, Vice President Cevdet Yilmaz announced on Sunday. The revised outlook was presented as the government unveiled its medium-term economic programme for 2027-2029. Yilmaz said inflation is expected to begin falling again during the fourth quarter of 2026. However, he acknowledged that the new forecast is… Continue reading Turkey Inflation Forecast Raised to 28.4 Percent
Americans are heading into the Labor Day weekend facing unusually high gasoline prices as the war in the Middle East continues to push up energy costs. The national average could reach $4.03 per gallon on Labor Day, according to GasBuddy analyst Patrick De Haan. That would exceed the previous Labor Day record of $3.83 set… Continue reading Labor Day Gas Prices Hit Record Highs for Americans
The United States has structured its position in a major Venezuelan oil venture to protect its 35% stake from dilution as the project raises new capital. A U.S. official said the Pentagon used “penny warrants” to secure the position in North American Blue Energy Partners, or NABEP. The warrants give Washington the right, but not… Continue reading US Venezuela Oil Deal Protects 35% Stake
Shein is moving beyond its fast-fashion roots as it looks for new ways to drive growth after its long-awaited Hong Kong stock market listing. The online fashion giant now has about $15 billion in cash. It also raised around $1.74 billion through its initial public offering. As a result, Shein has the financial strength to… Continue reading Shein Acquisition Strategy Targets New Growth
The Islamabad High Court (IHC) has issued notices to the federal government and other respondents over a petition challenging the privatization of Pakistan International Airlines (PIA). The court has asked the respondents to submit their reports within two weeks. The petition came from Peoples Unity, which has challenged the outcome of the PIA bidding process… Continue reading PIA Privatization Challenged in Islamabad High Court
Wall Street stocks fell on Friday after a stronger-than-expected U.S. jobs report changed expectations for Federal Reserve policy. The U.S. economy added 162,000 jobs in August, according to the Labor Department. Economists surveyed by Reuters had expected an increase of just 56,000 jobs. The unemployment rate remained at 4.1%, matching economists’ expectations. The stronger labor… Continue reading Wall Street Slides After Jobs Report
Pakistan needs to expand its exports if it wants lasting economic growth, Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal said on Thursday. He urged the Asian Development Bank (ADB) to provide technical support and international expertise to help Pakistan increase and diversify its exports. Iqbal made the remarks during a meeting with… Continue reading Pakistan Exports Key to Economic Growth, Ahsan Iqbal Says
Apple is facing a £2 billion ($2.7 billion) lawsuit in the UK over its app tracking rules, with lawyers representing app developers accusing the iPhone maker of using its market power unfairly. The case was filed at London’s Competition Appeal Tribunal on Thursday. It focuses on Apple’s App Tracking Transparency feature, which the company introduced… Continue reading Apple App Tracking Lawsuit Seeks $2.7 Billion
Donald Trump returned to the White House with a promise to bring greater discipline to US government finances. He pledged to reduce the size of government, cut waste and encourage stronger economic growth. Instead, the US national debt has now climbed above $40 trillion during the first 19 months of his second term. Federal spending… Continue reading US National Debt Tops $40 Trillion Under Trump
Iran is facing growing pressure on its fuel supplies as a US naval blockade makes it harder for the country to import petrol. Against that backdrop, Parliament Speaker Mohammad Bagher Ghalibaf has urged citizens to reduce their fuel consumption. The warning comes as long queues appear at petrol stations in Tehran and officials acknowledge that… Continue reading Iran Petrol Shortage: Ghalibaf Urges Citizens to Cut Fuel Use
