Ex-Nigeria oil minister cleared in UK bribery trial
LONDON — Diezani Alison-Madueke, the former Nigerian petroleum minister and the first female president of OPEC, was found not guilty of all bribery charges by a London jury on Wednesday. The verdict concludes a high-stakes, five-month criminal trial and marks the collapse of an 11-year international corruption probe. Jurors at Southwark Crown Court cleared the […]
Japan raids ice cream giants over price-fixing allegations
TOKYO — Japan’s antitrust watchdog has launched a sweeping investigation into the country’s multi-billion dollar frozen dessert industry, raiding six of the nation’s largest ice cream manufacturers over allegations of operating a clandestine price-fixing cartel. The unexpected, high-profile raid by the Japan Fair Trade Commission (JFTC) marks the first time the country’s competition regulator has […]
Fed holds US interest rates steady as uncertainty over Trump’s Iran deal remains
WASHINGTON — In a highly anticipated move, the Federal Reserve on Wednesday held its benchmark interest rate steady, opting for a wait-and-see approach as the global economy braces for the fallout of President Donald Trump’s pending memorandum of understanding (MoU) with Iran. The Federal Open Market Committee (FOMC) voted unanimously to maintain the federal funds […]
Kenya bank CEO calls for regional response to energy shock
The chief executive of Absa Bank Kenya has called on East African countries to work together to address the economic fallout from the ongoing global energy crisis, warning that individual national responses may not be sufficient to protect the region from rising fuel costs and supply disruptions. The appeal comes as higher oil prices, geopolitical […]
How could the US-Iran deal affect oil prices and the cost of food?
Lower Oil Prices After the deal was announced, oil prices fell sharply because investors expect the reopening of the Strait of Hormuz and a return of more Iranian oil to global markets. Brent crude dropped by around 5%, reaching about $83 per barrel. If the agreement holds: However, experts caution that restoring full production and […]
Oil prices fall and shares jump after US-Iran deal announced
Global financial markets rallied sharply and oil prices tumbled on June 15, 2026, after the United States and Iran announced a preliminary peace agreement aimed at ending months of conflict and reopening the strategically vital Strait of Hormuz. Investors welcomed the breakthrough, viewing it as a major step toward restoring stability to global energy supplies […]
Jailed crypto founder Sam Bankman-Fried seeks Trump pardon
Sam Bankman-Fried, the disgraced founder of the collapsed cryptocurrency exchange FTX, has formally sought a presidential pardon from U.S. President Donald Trump while continuing to fight his criminal conviction and 25-year prison sentence. The move marks another dramatic chapter in one of the largest financial fraud scandals in modern American history and highlights the increasingly […]
Ceasefire Under Pressure as Conflict Escalates
A fragile ceasefire between the United States and Iran is facing renewed pressure following a series of military exchanges in and around the Strait of Hormuz. Recent incidents involving drones, missiles, and airstrikes have raised doubts about the agreement’s long-term viability. The latest escalation began after multiple drone incidents and the downing of a U.S. […]
A decade on, Trump returns to a stronger and more assertive China
When China’s leader Xi Jinping hosts his American counterpart in Beijing this week, Donald Trump will be reminded of his last visit in 2017 – he was wooed hard, complete with dinner inside the Forbidden City, an honour no US president before him had received. This week’s reception promises to be just as grand, including […]
US Treasury Relaxes Restrictions on Venezuelan Banks
As of April 15, 2026, Venezuela remains in a high-stakes transition following the January 3rd ouster of Nicolás Maduro. While the “iron fist” of the previous decade has loosened, the country is now grappling with the legal and political vacuum left behind. Here are 5 major new developments regarding the return of freedoms and the […]