Nairobi — The African Union (AU) will push for reforms to the global financial system, improved debt resolution mechanisms and stronger financial independence for the continent during the 2026 International Monetary Fund (IMF)-World Bank Annual Meetings in Bangkok, Thailand. The meetings, scheduled for October 12-18, will provide a platform for the AU to advance Africa’s…
Treasury Secretary Scott Bessent and Russian Finance Minister Anton Siluanov at the G20 Finance Ministers Meeting in Asheville, N.C. on Aug. 31, 2026. Courtesy: U.S. Treasury Department U.S. Treasury Secretary Scott Bessent told Russian Finance Minister Anton Siluanov that no sanctions relief or new agreements with Moscow were possible, as long as the war in…
This picture taken on March 26, 2026 shows an oil tanker unloading crude oil at a port in Yantai, in China’s eastern Shandong province. CN-STR | Afp | Getty Images Iran is likely to face challenges in clearing its oil inventories even after restrictions on its energy imports are lifted, as its biggest customer tweaks…
Dozens of diamonds spell out two giant letter “T” next to the Stars and Stripes and “1776” and “2026.” Dozens more frame the numbers 45 and 47 in the shape of Superman’s logo. A diamond-winged eagle carries a ruby shield and clutches an olive branch of emeralds, below a radiant “250” and atop the phrase…
The government will extend fuel tax cuts for another two months to cushion the impact of the Iran war on households, but that the relief would end after that and it would recoup the lost tax revenue in other ways. The US-Israeli war against Iran has caused the biggest oil supply disruption in history, the…
SK Hynix said on Wednesday that it plans to invest the equivalent of US$12.85-billion (R212-billion) in a new manufacturing plant in South Korea for advanced packaging, to meet rising global demand for AI memory, with construction starting this month. The Nvidia supplier, one of the world’s largest memory chip makers, has been expanding production capacity…
A 2-week ceasefire between the U.S. and Iran sparked a broad-based relief rally across risk assets, and even buoying traditional safe havens.
The 10-year Treasury yield was relatively unchanged on Wednesday as the prospect of a resolution to the Iran conflict lifted investor sentiment. The yield on the 10-year Treasury rose less than 1 basis point to 4.315%. The 2-year yield dropped 1 basis point to 3.789%, while the 30-year Treasury yield was up more than a basis point at 4.906%….
A pump jack is seen at sunrise near Bakersfield, California October 14, 2014. Lucy Nicholson | Reuters Oil prices surged more than 7% Thursday, as traders appear to be unconvinced that government stockpiles can offset the massive supply shock triggered by the war in the Middle East. The West Texas Intermediate jumped 7.5% to $93.8 per…
The Portuguese cargo ship MSC Maxine is pictured at the Port of Balboa at the entrance to the Panama Canal in Panama City on April 23, 2025. The Port of Balboa is managed by CK Hutchison Holdings, based in Hong Kong. Martin Bernetti | Afp | Getty Images The U.K., the European Union and Singapore…
