Zambia loses $200 million revenue after cutting fuel taxes to shield businesses
The country suspended excise duty and removed Value Added Tax (VAT) on petrol and diesel imports for three months starting April 1.
29 African currencies knocked down by Middle East war: AU,AfDB
At least 29 African currencies have weakened, according to a joint assessment by the African Union and the African Development Bank, amplifying the cost of servicing external debt and importing essential commodities such as food, fuel, and fertiliser.
Trump says US blockade of Iranian ports to begin on Monday 14:00
Donald Trump said that the US will start blockading ships entering and leaving Iranian ports from Monday, 10:00 ET (14:00 GMT, 15:00 BST)
‘Failed US-Iran talks major blow for global economy’
The impact on the wider economy is direct. Higher oil prices feed into transport, food and other goods, adding to inflation and squeezing budgets.
Ceasefire relief: What the US-Iran truce means for oil, equities and currencies
A fragile US-Iran truce has sparked a sharp market relief rally, but six weeks of conflict damage means full recovery remains uncertain.
Africa counts losses as US-Iran war hits 5 key sectors across the continent
Disruptions to shipping through the Strait of Hormuz are beginning to ripple across African economies, threatening fertiliser supplies, industrial inputs and trade flows while increasing freight costs and financial pressure on several countries.
Trump warns he’ll ‘reign down hell’ on Iran within 48 hours unless Strait of Hormuz is opened and peace deal is made
“Remember when I gave Iran ten days to MAKE A DEAL or OPEN UP THE HORMUZ STRAIT. Time is running out – 48 hours before all Hell will reign down on them. Glory be to GOD!” Trump said in a Truth Social post Saturday.
Trump marches up and down an Iranian hill and into a swamp
Announcing that Iran’s nuclear ambitions have been decisively thwarted and its missile programmes stilled, among other damage, Trump basically brushed off the global economic difficulties stemming from the closing of the Strait of Hormuz and gave a bit of a backhand to other Nato members who had declined to join his conflict of choice.
Hopes dim for swift end to Iran war after Trump speech, oil prices surge anew
Stocks slid and the dollar gained after Trump said military operations would be intensified without offering the timeline that investors had sought for ending hostilities against Iran.
Three scenarios for the Strait of Hormuz
The ongoing United States-Israeli war on Iran has thrust the Strait of Hormuz into the centre of a multidimensional geopolitical crisis.