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Middle East

The Middle East is a transcontinental region spanning Western Asia and parts of North Africa, characterised by its strategic location at the crossroads of Europe, Asia and Africa. The region encompasses countries including Saudi Arabia, the United Arab Emirates, Iran, Iraq, Kuwait, Qatar, Bahrain, Oman, Yemen, Israel, Palestine, Jordan, Lebanon, Syria and sometimes Egypt and Turkey, though definitions vary. It is home to an estimated 400-million people and holds immense geopolitical and economic significance owing to its vast hydrocarbon reserves, which account for a substantial share of global oil and natural gas production and exports. The Middle East's energy resources have shaped global markets for decades, with key chokepoints such as the Strait of Hormuz serving as critical arteries for international oil shipments. Beyond energy, the region's economy encompasses finance, trade, construction, tourism and increasingly diversified sectors as several Gulf states pursue economic transformation agendas. Major cities such as Dubai, Riyadh, Abu Dhabi, Tehran, Tel Aviv and Cairo function as commercial, financial and cultural hubs. The region is also the birthplace of three major world religions—Judaism, Christianity and Islam—and contains sites of profound historical and cultural importance. Political dynamics in the Middle East are complex, marked by a mix of monarchies, republics and theocracies, ongoing conflicts, regional rivalries and shifting alliances. In recent years, several Middle Eastern nations have announced ambitious renewable energy and nuclear programmes as part of efforts to diversify energy supply and reduce reliance on fossil fuel exports. The region's strategic importance to global energy security, trade routes and geopolitical stability ensures it remains a focal point in international business and policy discussions.

Middle East Updates


Mineral and Petroleum Resources Minister Gwede Mantashe
Mantashe calls for stronger refining capacity amid global energy instability
10th June 2026 By: Lumkile Nkomfe

Mineral and Petroleum Resources Minister Gwede Mantashe has reiterated government’s commitment to strengthening South Africa’s energy security through increased refining capacity, strategic fuel... 


Workers at a construction site
Building confidence drops by a further 4 points in the second quarter
10th June 2026 By: Schalk Burger

After slipping by one point to 42 index points in the first quarter of this year, the business mood in the building sector fell by a further four points to 38 in the second quarter, the FNB/BER... 


Avo farm
Agriculture sector achieves record quarterly trade surplus of $1.5bn
9th June 2026 By: Marleny Arnoldi

South Africa's agriculture sector recorded a trade surplus of $1.55-billion in the first quarter of this year, marking the highest first-quarter surplus in South Africa's agriculture trade history... 


IATA director-general Willie Walsh
Middle East crisis to hit airlines hard this year, but Africa will see the strongest demand growth
8th June 2026 By: Rebecca Campbell

Conflict in the Middle East was having a substantial effect on the airline industry, worldwide, the International Air Transport Association (IATA) has reported, in its latest financial outlook... 


World Platinum Investment Council Director of Research Edward Sterck.
Investment demand for platinum still extremely strong – WPIC
5th June 2026 By: Martin Creamer

Investment demand for platinum remains extremely strong, with market fundamentals continuing to support platinum as a compelling investment. Market tightness suggests that there is insufficient... 


A generic image of gold bars
Gold price momentum increases amid geopolitical headwinds
4th June 2026 By: Lumkile Nkomfe

Despite short-term headwinds from the conflict in the Middle East, gold is expected to resume its forward momentum once the war concludes with the yearly average gold price forecast to surge by 43%... 


LNG tanker
LNG prices could go higher in significant volatility, Uniper executive says
4th June 2026 By: Reuters

Liquefied natural gas (LNG) prices could rise further in significant volatility than experienced so far during the Iran war if supply disruptions coalesce with hot weather in Asia and European... 


BCG reports most employees use AI tools
3rd June 2026 By: Schalk Burger

In a survey of 11 749 workers across 14 markets and a range of industries, 72% of respondents, including white-collar frontline and managerial employees, said AI has already considerably changed... 


Supply chain industry body commends citrus export milestone but warns supply chain challenges could sour continued growth
Supply chain industry body commends citrus export milestone but warns supply chain challenges could sour continued growth
3rd June 2026

“Our citrus sector has demonstrated remarkable resilience in an increasingly volatile supply chain environment. It is proof that South Africa produces world-class agricultural products, but... 


JHB skyline
South Africa private sector contracts after four months of growth, PMI shows
3rd June 2026 By: Reuters

South Africa's private sector contracted in May as output and new orders fell amid higher fuel prices and uncertainty linked to the Iran war, a business survey showed on Wednesday. The S&P Global... 


Middle East tensions interrupt business confidence recovery – report
Middle East tensions interrupt business confidence recovery – report
2nd June 2026 By: Sabrina Jardim

The Business Confidence Index (BCI) published by financial services firm RMB and economic research organisation the Bureau for Economic Research (BER) fell by eight points to 39 in the second... 


Oil barrels
S&P flags Middle East oil risk for South Africa, warns low growth an outlier among peers
2nd June 2026 By: Reuters

S&P Global Ratings warned on Tuesday that rising oil prices from the Middle East crisis pose a growing risk to South Africa's consumer-led economy, even as the fiscal consolidation push remains... 


Absa PMI declines in May, but remains above neutral mark
Absa PMI declines in May, but remains above neutral mark
1st June 2026 By: Sabrina Jardim

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) remained above the neutral 50-point mark for a second consecutive month, although the index declined by 1.8 points to 50.8 in May from... 


No sweet spot found yet as govt, auto industry mull shoring up local manufacturing
29th May 2026 By: Irma Venter

The South African automotive industry and government have not yet found “that sweet spot” that would shore up the local manufacturing sector as it faces declining local parts content and increasing... 


IEA executive director Fatih Birol
Countries prioritising domestic energy options amid ‘largest-ever energy security crisis’
28th May 2026 By: Terence Creamer

Countries are increasingly prioritising domestic energy resources as they seek to reduce their reliance on imported fuels in response to what the International Energy Agency (IEA)  is describing as... 


Global PVC Market Shifts Under Spotlight at SAVA’s 14th AGM
Global PVC Market Shifts Under Spotlight at SAVA’s 14th AGM
28th May 2026

The Southern African Vinyls Association (SAVA) hosted its 14th Annual General Meeting (AGM) on 21 May 2026, bringing together key stakeholders from across the PVC value chain to reflect on the past... 


Inflation impact likely in emerging markets owing to US-Iran war – BMI
26th May 2026 By: Schalk Burger

Financial market research company BMI expects oil prices to average $90/bbl this year, and to remain higher for longer, which will, in turn, feed into rising inflation. This will lead to pressure... 


Bank notes
South African rand steady before local inflation reading
20th May 2026 By: Reuters

The South African rand was steady in early trade on Wednesday, ahead of the release of inflation data which is expected to reflect pressures from the war in the Middle East. At 0619 GMT the rand... 


US President Donald Trump
South African rand weakens as investors watch Middle East developments, await local data
19th May 2026 By: Reuters

The South African rand weakened on Tuesday as investors stayed cautious while monitoring developments in the Middle East after US President Donald Trump paused a planned attack on Iran. At 0730 GMT... 


World Platinum Investment Council Director of Research Edward Sterck.
Investment demand for platinum still extremely strong
18th May 2026 By: Martin Creamer

Investment demand for platinum remains extremely strong, with market fundamentals continuing to support platinum as a compelling investment. Market tightness suggests that there is insufficient... 


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