The 2nd Istanbul World Islamic Economy Summit was held at the Istanbul Financial Center, bringing together leaders and experts from across the Islamic world.
President Recep Tayyip Erdoğan opened the 2nd Istanbul World Islamic Economy Summit, expressing his pleasure in hosting participants at the crossroads of three continents.
He highlighted Türkiye’s steady economic progress under its two-year reform program, noting that annual inflation has fallen for 11 consecutive months, reaching a 40-month low in April, with the goal of bringing it permanently to single digits. Erdoğan also credited the recent drop in global oil prices for helping reduce inflation and the current account deficit.
The president pointed to other positive signs, including central bank reserves surpassing 153 billion dollars and unemployment falling to 7.9 percent in March, the lowest since 2005.
Addressing the broader Islamic economy, Erdoğan noted that although Muslims represent 25 percent of the world’s population, the 57 member states of the Organization of Islamic Cooperation account for only 11 percent of global trade. With the Islamic finance sector valued at around 2.5 trillion dollars, he urged Muslim countries to deepen trade, investment, and financial cooperation to strengthen their global economic position.
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The United States and Iran have traded fresh strikes, with the U.S. hitting military sites and Iran launching missiles and drones at bases and ships near the Strait of Hormuz. Shipping remains active, but tensions are rising as calls grow for restraint and renewed talks.
A London court has handed down lengthy sentences to activists from campaign group Palestine Action, who raided an Israeli-owned arms company in the UK.
Sierra Leone’s First Lady, Fatima Jabbe-Bio, has lost her London social housing flat after a UK council seized it.
SpaceX made a historic entrance into the Nasdaq on Friday, surging over 20% in its first day of trading and lifting its valuation to more than $2 trillion. Investors flocked to the world’s largest IPO, betting on Elon Musk’s sprawling empire spanning rockets, AI and beyond.
Mexico and South Africa meet in Thursday’s World Cup opener in Mexico City, with both teams approaching the match from very different positions but facing their own pressures.
SpaceX has made history with the largest initial public offering ever in the United States, pricing its shares at $135 each and achieving a market valuation of $1.77 trillion.
SpaceX made a historic entrance into the Nasdaq on Friday, surging over 20% in its first day of trading and lifting its valuation to more than $2 trillion. Investors flocked to the world’s largest IPO, betting on Elon Musk’s sprawling empire spanning rockets, AI and beyond.
While France hosts next week’s Group of Seven summit, businesses in neighbouring Switzerland have already begun taking precautions, with many shops in Geneva boarded up ahead of a large anti-G7 demonstration expected on Sunday.
Formula 1 driver Pierre Gasly’s Monaco Grand Prix podium has been reinstated after Alpine successfully challenged his post-race penalties through a Right of Review request with the FIA.
Iran said no final decision has been made on a proposed agreement with Washington, despite suggestions from U.S. President Donald Trump that a deal could soon be signed in a European capital.
Georgia and the European Union have held their first working-level talks in Brussels following the EU's decision to suspend visa-free travel for holders of Georgian diplomatic, service and official passports.
Türkiye has condemned a defence agreement signed this week between France and Southern Cyprus, describing it as a threat to regional stability and the rights of Turkish Cypriots.
Authorities in the western Afghan city of Herat have arrested at least 30 women for allegedly breaching dress rules imposed by the Taliban, according to the United Nations agency for women’s rights.
Mali’s al Qaeda-affiliated group Jama’at Nusrat al-Islam wal-Muslimin (JNIM) has offered multimillion-dollar rewards for information on senior military officials and the country’s head of state.
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