The companies making billions from the Iran war, by BBC
Some of the biggest banks have also seen their profits boosted during the war in Iran.
Iran U.S. Israeli war
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Egypt raises natural gas prices for industries amid volatile energy prices
• A gas filing station / Reuters image Egypt has raised natural gas prices for several energy-intensive industries starting in May, according to a prime ministerial decree published on Sunday. Reuters reported that the government has already raised domestic fuel prices by up to 17% in March in response to soaring global energy costs, and…
Afreximbank Avails US$10bn to Shield African, Caribbean Economy from Middle East Conflict
The Board of Directors of African Export-Import Bank (Afreximbank) has approved a US$10 billion Gulf Crisis Response Programme (GCRP) facility to help African and Caribbean economies to counter the severe economic shocks triggered by the escalating conflict in the Middle East. Dr. George Elombi, President and Chairman of the Board of Directors at Afreximbank, announced…
UNCTAD Warns Strait of Hormuz Depreciating Country Currencies
UN Trade and Development UNCTAD says that Strait of Hormuz disruptions has started weakening developing country currencies. UNCTAD, in its monitoring of changes in exchange rates against the dollar since the start of the military escalation (28 Feb 2026) till March 26, also said that the closure of the shipping line have started weakening global…
Aluminium prices jump after Gulf attacks
Aluminium prices climbed around six per cent in early trading on Monday after Iran attacked two major plants in the Gulf that produce the widely used metal, raising concerns over supply disruptions, according to AFP. Gains later reduced, though prices were still up 4.2 per cent at $3,435 per tonne on the London Metal Exchange….
Middle East War Escalating Nigerian Factories’ Raw Material , Energy Costs–MAN
The Manufacturers Association of Nigeria (MAN) says that the disruptions to the Strait of Hormuz – the global shipping routes occasioned by the US middle East War, have started arriving on the doorsteps of domestic factories in Nigeria. The sectoral groups being mostly impacted are Chemical and Pharmaceuticals including the Food, Beverage and Tobacco Industries….
Nigerian Manufacturers Seek Subsidies As Global Energy Cost Bites Harder
Image: Dr Jumoke Oduwole, Minister of Industry Trade and Investment The recent surge in global fuel prices, driven by geopolitical tensions, is compounding Nigerian manufacturers challenges, prompting their call for urgent government intervention to cushion the impact on small and medium enterprises and other critical sectors. Making the calls are the Managing Director/CEO of Coleman…
Why global oil shocks hit Nigeria hard – Peter Obi
Nigeria’s Presidential hopeful under the African Democratic Party (ADC) Peter Obi, has said Nigeria’s recurring vulnerability to global economic shocks, particularly in the energy sector, is a direct consequence of poor planning and the absence of strategic buffers. Obi made the observation in a post on Friday while reacting to the recent increase in fuel…
Strait of Hormuz disruptions: Implications for global trade and development
•©Shutterstock/AU USAnakul The Strait of Hormuz is one of the world’s most critical maritime chokepoints, carrying around a quarter of global seaborne oil trade and significant volumes of liquefied natural gas and fertilizers. UNCTAD reports that the ongoing military escalation in the region has disrupted shipping flows through this narrow passage. The resulting ripple effects…