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Oil prices climbed above $110 a barrel in mid-May after a drone attack on the UAE's Barakah nuclear power plant and heightened fears of escalation in the Iran war. Emirati officials said they were investigating the source of the strike and warned of the right to respond to such "terrorist attacks", while Saudi Arabia intercepted three drones entering from Iraqi airspace.
Strait of Hormuz reopening set to release stranded crude, depress marketsMiddle Eastern crude markets faced further pressure in mid-June as the reopening of the Strait of Hormuz under a US–Iran interim deal was expected to release about 93-million barrels of stranded non-Iranian oil from the Persian Gulf, alongside 72-million barrels of Iranian crude. Most Asian refiners had already booked cargoes to arrive in June to August, and Chinese refining capacity was scheduled for maintenance shutdowns in July, reducing immediate demand for spot supplies.
UAE investment and labour ties with Africa deepen despite regional tensionsThe UAE is scaling up investment in Africa through comprehensive economic partnership agreements with countries including Mauritius, Kenya, Morocco and Nigeria, focusing on mining, energy and food security, Standard Chartered's Africa chief executive says. More than 500 000 Kenyans are working in the UAE, Qatar and Saudi Arabia, mainly in low- and semi-skilled roles, with remittances crossing the $5-billion mark in 2025.
United Arab Emirates Updates
The European Commission's plans to introduce measures to limit exports of aluminium scrap have been delayed until September, sector lobby group European Aluminium and other industry sources said....
South African architectural studio dhk Architects has joined global architecture firm Egis Group’s 10N collective, marking a significant milestone in the Cape Town- and Johannesburg-based studio's...
Middle Eastern crude oil markets could come under further pressure if the Strait of Hormuz reopens on Friday following the US-Iran interim deal, releasing-millions of barrels of oil stranded in the...
Goldman Sachs on Thursday lowered its 2027 average Brent oil price forecast to $80/bbl, citing stronger supply growth and persistent demand weakness, even as it warned prices could swing sharply...
Coatings For Africa 2026, a networking event for Southern Africa’s coating industry, will be held at the Sandton Convention Centre, in Johannesburg, from June 24 to 26. The event, which is hosted...
During the first quarter of this year, worldwide AI use increased by 1.5 percentage points to 17.8% of the world’s working age population, up from 16.3% in the second half of 2025, information...
Oil prices extended gains on Monday as efforts to end the Iran war appeared to have stalled, after a nuclear power plant in the United Arab Emirates came under attack and as US President Donald...
India has curbed imports of silver in nearly all forms with immediate effect, according to a government order issued on May 16, as the world's biggest consumer of the metal seeks to rein in...
Construction at TSX-listed Lithium Americas’ Thacker Pass project, in Humboldt County, Nevada, is accelerating toward mechanical completion in late 2027, the company highlights in a statement on...
NextSource Materials has approved a final investment decision for Phase 1 of the proposed project.
The International Trade Administration Commission of South Africa (Itac) has recommended that existing anti-dumping duties of between 10% and 45% on clear float glass be maintained after finding...
TSX-listed NextSource Materials has approved a final investment decision for Phase 1 of its proposed battery anode facility (BAF) in Abu Dhabi, in the United Arab Emirates, marking a major...
LONDON – Emirates Global Aluminium is sticking with its investment plans to increase production and recycling of the metal despite the Iran war, the company's chief marketing officer said on...
South Africans woke up to record-high fuel prices on May 6, 2026. A litre of diesel (50ppm) costs R31.38. It is the first time ever the price has gone over R30. A litre of 95 Octane in Gauteng...
Solar and wind energy paired with battery storage are reliable and deliver cost-effective, round-the-clock electricity, says intergovernmental agency the International Renewable Energy Agency...
Dubai-, United Arab Emirates (UAE), based global major airline Emirates has announced that it has restored operations on 96% of its global network, following the disruptions caused by the conflict...
By: Taru Madangombe - Vice President for Power and Grid Segment, MEA at Schneider Electric Around the world, countries are investing heavily in the development of smart, green cities. These...
Global oil stocks are approaching their lowest level in eight years, Goldman Sachs said on Monday, warning that the speed of depletion was becoming a concern as supplies through the Strait of...
Brent oil prices rose as much as 7% on Thursday on a report the US is considering potential military action against Iran to break the deadlock in negotiations to end the war, increasing concerns of...
KINSHASA – Democratic Republic of Congo’s mines inspectorate said on Monday it had created a paramilitary mining guard to secure mining sites and mineral supply chains, as the world’s top cobalt...
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