Strait of Hormuz: Iran sets new conditions as it eases transit rules
Iran has announced new conditions for ships passing through the Strait of Hormuz, requiring compliance with its security rules and coordination with authorities. The move eases previous restrictions while maintaining strict oversight. The Islamic Republic stated that vessels not supporting military action against Iran and deemed non-hostile may transit the passage safely. Officials conveyed this […]
Oil Prices Surge Past $100 As Iran Names New Supreme Leader, Global Shares slide
Oil prices surged past $100 per barrel on Monday as geopolitical tensions escalated in the Middle East following the selection of Ayatollah Mojtaba Khamenei as Iran’s new supreme leader. WTI crude reached $108.66, while Brent crude hit $108.69, marking sharp gains in early Asian trading. The spike comes amid ongoing conflict between Iran, the U.S., […]
Gold hits record high as US Government shutdown begins
Gold prices have reached an all-time high as the United States government officially entered a shutdown after lawmakers failed to agree on a funding plan. Investors rushed to the precious metal, often seen as a safe haven during times of political and economic uncertainty. Analysts note that the shutdown has created fresh fears about the […]
We are not afraid – Xi Jinping says as China Raises Tariffs on U.S goods to 125% as Tit-For-Tat Trade War Escalates
The trade war between China and the U.S. is getting even more serious. On April 11, China announced it will raise taxes on American goods from an average of 84% to a massive 125%. This is China’s strongest move yet in response to U.S. tariffs. President Xi Jinping said during a meeting with Spain’s Prime […]
Federal Government Suspends Import Duties on Essential Foods to Combat Hunger
In an effort to tackle hunger and reduce living costs, the Federal Government of Nigeria has decided to suspend import duties and taxes on essential food items. This move aims to make basic necessities more affordable for Nigerians, who are facing economic challenges due to global inflation. Bashir Adeniyi, the Comptroller-General of the Nigeria Customs […]