The intensifying conflict in the Persian Gulf “has triggered one of the most rapid and severe disruptions to global commodity flows in recent times,” the Chief Economist with the UN Food and Agriculture Organization (FAO) said on Thursday. The crisis is affecting agricultural production and food security worldwide, with impacts on farmers but also migrant…
Reserve Bank governor Lesetja Kganyago The South African Reserve Bank maintained its main lending rate at 6.75% on Thursday, saying caution was needed as higher energy prices triggered by the US-Israel war against Iran would push up inflation. Economists polled by Reuters had expected no change in the repo rate, as the Middle East conflict…
President Trump voiced optimism on Tuesday that a peace deal will be reached with Iran, while insisting the war had already been won. “This war has been won,” Mr. Trump said in the Oval Office. “The only one that likes to keep it going is the fake news.” “We killed all their leadership,” he said…
All-time high greenhouse gas concentrations in Earth’s atmosphere continue to drive heat records on land and sea, with long-lasting consequences for humanity, the World Meteorological Organization (WMO) warned on Monday. Hot on the heels of a scorching decade, the UN’s weather agency has said that the planet’s climate is “more out of balance than at…
The Bank of Japan (BOJ) headquarters is seen beyond the cherry blossoms in Tokyo on March 20, 2023. Kazuhiro Nogi | Afp | Getty Images The Bank of Japan on Thursday kept its rates steady at 0.75% as expected, but noted that inflation risks now are tilted to the upside due to the Iran war….
Increasing chip costs are starting to affect SIM cards. (Graphic by Nicola Mawson, with images from Freepik) JSE-listed MTN says it hasn’t seen the effects of a shortage of computing components due to the rapid growth of the artificial intelligence (AI) industry’s demand for chipsets – yet. AI companies’ ramp-up of data centres to cater…
GSMA deputy chair Ralph Mupita Global mobile industry body GSMA is concerned that ongoing geopolitical tensions could lead to a bifurcation of standards that could have a severe impact on supply chains for mobile networking equipment and the device ecosystem in years to come. “A huge area of debate among the GSMA board [members] is…
The Sea Empowerment and Research Center, SEREC, has warned that African maritime nations face heightened economic and security challenge due to the escalating tensions between the United States and Iran. The Centre highlights the far-reaching implications for import-dependent economies across the African Union economies considered to be particularly vulnerable. In the communiqué signed by Head…
Nairobi — The Embassy of Israel in Kenya has warned that Iran’s ballistic missile capabilities extend far beyond Israel’s borders, with ranges that could reach large parts of the Middle East, sections of Europe, and parts of Africa. In a statement issued Tuesday, the embassy said discussions about missile ranges should not be viewed as…
Abuja — The Economic Community of West African States (ECOWAS) has raised fresh concerns over the escalating hostilities in the Gulf region, cautioning that a prolonged conflict could unleash severe economic and security repercussions far beyond the Middle East, with Africa among the hardest hit. In a statement issued under the chairmanship of Julius Maada…
