The United Arab Emirates (UAE) has announced its decision to withdraw from the Organisation of Petroleum Exporting Countries (OPEC) and the wider OPEC+ alliance. The Gulf state made this known on Tuesday, April 28, saying it takes effect May 1, 2026. The decision marks a significant shift in global energy geopolitics, as the UAE was …
The hope for cheaper fuel has been dampened after Iran closed the Strait of Hormuz again on Saturday, reversing the brief optimism that followed its reopening on Friday. Iran's military declared the Strait of Hormuz blocked again on Saturday, April 18, hours after it was reopened. The move is a direct response to the U.S. …
Following the announcement of a 10-day ceasefire between Israel and Lebanon, Iran has officially declared the Strait of Hormuz "completely open" for all commercial vessels. The reopening, announced on Friday, April 17, 2026, by Iranian Foreign Minister Abbas Araghchi, marks a significant shift in the process towards resolving the Middle East conflict. This development comes …
A Turkish drilling ship has docked at the port of Mogadishu ahead of Somalia’s first offshore oil exploration project, marking a major milestone in energy cooperation between Turkey and Somalia. The vessel, named Cagri Bey, arrived in Somali waters on Thursday and berthed at the capital’s port on Friday, according to officials from both countries. …
Bank of America has agreed to pay $72.5 million to settle a civil lawsuit filed by women who accused the bank of aiding Jeffrey Epstein’s sexual abuse. Court records showed that the agreement followed a “settlement in principle” reached earlier this month, though the terms were not initially disclosed. The settlement still requires approval from …
China has condemned a new United States trade investigation into alleged industrial overcapacity and forced labour. The criticism comes just days before fresh trade talks between the two countries in Paris. China’s Ministry of Commerce said Washington has no right to decide unilaterally whether another country has excess industrial capacity. The ministry said the U.S. …
The Tunisian government has unveiled plans to undertake a major expansion of its main international gateway, Tunis–Carthage International Airport estimated at $1 billion, as the North African country seeks to modernise air transport infrastructure and strengthen its tourism industry. In a statement, the Tunisia Ministry of Transport said the project forms part of a broader …
The U.S. dollar steadied against major global currencies on Tuesday after Donald Trump stated that the ongoing conflict involving Iran could end “very soon", easing some fears in global financial markets. The greenback traded at 157.73 yen and $1.1632 per euro in Asian markets. The currency remained mostly firm despite retreating slightly from the highs …
The President of the European Commission, Ursula von der Leyen, on Monday warned that the ongoing war involving Iran is already affecting Europe, citing rising energy prices, security threats and disruptions to global trade. Speaking to European Union ambassadors, von der Leyen said the ripple effects of the conflict are spreading beyond the Middle East. …
Governments across Europe, Asia, and the Gulf have stepped up evacuation efforts as the ongoing U.S.-Israeli conflict with Iran continues to disrupt air travel across the Middle East. Dozens of repatriation flights were scheduled to depart the region on Wednesday to evacuate thousands of stranded citizens. The shutdown of key airspace corridors has left major …
