Istanbul Times – Global & Local Highlights: August 25–30, 2025
Around the World
India-Japan Strengthen Ties: During Prime Minister Modi’s stopover before visiting China, Japan pledged $68 billion in investments in India and launched a new cooperation initiative on semiconductors and AI. The two countries also agreed to expand military drills between Japan’s Self-Defense Forces and the Indian Armed Forces. Modi will then attend the Shanghai Cooperation Organisation summit in China alongside President Xi Jinping and Vladimir Putin.
–
UAE President’s Cup in Kazan: Sixteen elite Purebred Arabian horses are set to compete for a $100,000 prize in Kazan, Russia, at the tenth round of the UAE President’s Cup Series. The event attracts top breeders and riders from around the world, showcasing stunning horse breeds, expert riding skills, and thrilling races. Beyond competition, it’s also a celebration of equestrian culture, luxury, and tradition.
–
Tokyo Prepares for Mount Fuji: Mount Fuji, Japan’s tallest peak, hasn’t erupted since 1707, but Tokyo is planning ahead. Using AI-powered simulations, the government showed how a sudden eruption could cover the city in ash within hours, disrupt transportation, and affect food and energy supplies. The message is clear: it’s not about fear it’s about preparing 37 million residents for emergencies, from stocking up on water and food to having first aid ready.
–
Why the Rich Are Flocking to Milan: Milan is quickly becoming Europe’s new hotspot for wealthy foreigners. Italy’s special tax program lets new residents pay a fixed €200,000 per year on foreign income and enjoy inheritance tax exemptions for 15 years. This, combined with Milan’s vibrant social scene, luxury real estate, and booming finance sector, has attracted billionaires and executives from London and beyond. The city now feels a mix of “dolce vita” charm and international energy, though locals note rising property prices and a changing social vibe.
–
Germany’s Unemployment Hits 3 Million: In August, Germany’s unemployed population surpassed 3 million for the first time since 2015, rising by 46,000 from July. The national unemployment rate edged up to 6.4%. Experts note that seasonal summer effects played a role, but overall, the figures reflect lingering signs of economic slowdown. Southern regions like Bavaria and Baden-Württemberg still show low unemployment, while Bremen and Berlin remain higher. Optimism is growing, however, as analysts expect job growth to pick up in the coming months
–
Sports
Turkey’s National Basketball Team Shines: The Turkish men’s national basketball team remains unbeaten in the 2025 European Championship Group A, defeating the Czech Republic 92-78. Star player Alperen Şengün delivered an incredible performance with 23 points, 11 rebounds, and 9 assists. Featuring NBA talents like Alperen Şengün, Cedi Osman, Furkan Korkmaz, and rising star Adem Bona, the team has showcased impressive performances.
–
Champions League Rule Changes & Prize Money: UEFA has updated the 2025/26 Champions League format. Teams finishing 1–4 in the group stage will host their quarterfinal and semifinal second legs. Prize money totals €2.47 billion, with each group-stage team earning €18.6 million. Wins bring €2.1 million, draws €700k, and later rounds pay up to €25 million for the champion. Galatasaray will enter from Pot 4, and the final will be in Budapest’s Puskás Arena.
–
Business & Economy
HSBC Switzerland Cuts Ties with Middle East Clients: HSBC’s Swiss private bank is ending relationships with over 1,000 wealthy clients from the Middle East, including many with $100 million+ assets. The move comes amid increased anti-money-laundering scrutiny by Swiss regulators. HSBC says it remains committed to wealth management in both Switzerland and the Middle East, ensuring high-level service while complying with stricter regulations.
–
Global Red Meat Prices Hit Record Highs: Red meat prices are soaring worldwide due to droughts, rising feed costs, tariffs, and strong demand. The FAO’s Meat Price Index reached an all-time high of 127.3 points in July, with prices up nearly 6% year-on-year. In the US, ground beef topped $6.30 per pound, while EU and UK prices also set records. Analysts warn that limited livestock numbers and ongoing droughts could keep prices high for months.
PS: Looks like your BBQ plans just got a reality check, time to practice those veggie kebabs!
–
Global Coffee Giant Makes a Big Move: Keurig Dr Pepper has made an $18.4 billion bid to acquire Dutch coffee company JDE Peet’s, owner of brands like Jacobs, Douwe Egberts, L’OR, and Maxwell House. If approved, the deal could close in early 2026. Meanwhile, I’ll be enjoying my favorite black coffee at my go-to spot in Istanbul, perfect fuel while watching coffee empires grow!
–
Japan’s Heatwave Hits Luxury Seafood: Record summer temperatures have cut sea urchin, salmon, and squid catches by half. A 100-gram sea urchin bowl now costs $100–$120 in Hokkaido. Rising seafood prices push household food costs to a 43-year high. Climate change and warmer oceans are making Japan’s favorite treats harder to afford, time to savor my favorite black coffee while watching the seafood market heat up!
–
Puma Shares on the Market: Artemis, the Pinault family holding, is considering selling its 29% stake in German sports brand Puma after the company lost about 50% of its value in the past year. Potential buyers include global sportswear firms and Middle Eastern sovereign funds. Puma’s current market value is around €2.6 billion ($3 billion).
–
Science & AI
UCI Advances Neutrino Science: Researchers at UC Irvine have started data collection at China’s Jiangmen Underground Neutrino Observatory after 10+ years of planning, aiming to solve one of particle physics’ biggest mysteries: the neutrino mass order.
–
Elon Musk vs. OpenAI: Musk, who left OpenAI due to conflicts, clashed with CEO Sam Altman in 2025 and attempted to buy the company for $97.4B. Court records reveal he even pitched a joint acquisition to Meta’s Mark Zuckerberg, but Zuckerberg declined.
–
Nvidia AI Chips in China: After the US approved Nvidia H2O AI chip sales to China, Beijing warned domestic companies against using them. Nvidia CEO Jensen Huang confirmed discussions with the US for China-specific production at TSMC’s Taiwan factory.
–
Microsoft Warns About AI Perception: Mustafa Suleyman, head of Microsoft’s AI operations, urged in a blog post: “Stop treating AI like humans.” He warns that future AI may seem conscious, making us feel responsible for protecting them—even though they won’t actually be conscious.
–
Innovations & Discoveries
MG Launches Semi-Solid Battery EV: Chinese automaker MG is teaming up with SAIC, the world’s largest battery maker, to launch the MG4 Anxin Edition, the first car with a semi-solid battery. This innovative battery combines the efficiency of solid-state technology with the reliability of lithium-ion, performing better in cold weather. The car will feature front-wheel drive, 161 hp, and is expected to cost around $10,200.
–
Miniot Wheel 3: Light-Powered Vinyl Player: Vinyl enthusiasts, meet the Miniot Wheel 3 from the Netherlands. Unlike traditional record players that use a needle, this vertical player reads records with light beams, eliminating wear and tear on your precious vinyl. A premium experience for collectors, priced at €2,900.
–
That’s a wrap for this week’s roundup of global news, sports, and innovations! I hope you enjoyed this journey through some of the most interesting stories from around the world.
Now, I’m off to guide a wonderful group of doctors from the Philippines on a 7-day tour across Türkiye. I’ll be showing them our rich culture, historic sites, and local traditions, while comparing them to their own experiences and daily life. I’m excited to share this journey with them and bring back fresh stories and insights for you next week.
Until then, stay curious, keep exploring, and I’ll see you in the next edition!