business
11 storiesAsia Stocks Slide as US and Iran Threaten to Escalate War: Asian stock markets experienced a significant downturn as tensions between the United States and Iran threatened to escalate, with the conflict entering its fourth week. Global oil prices plummeted and stock markets rallied after US President Donald Trump announced progress in talks aimed at halting the conflict in the Middle East. Kenya Airways has reported a significant surge in flight demand, attributing the increase to the ongoing conflicts in the Middle East, particularly the US-Israeli war on Iran. The COMESA Competition and Consumer Commission is warning businesses across its member states against exploiting the Middle East crisis for price gouging and engaging in anti-competitive practices. The National Farmers' Union in the UK has warned that rising fuel and fertilizer costs, driven by the Iran conflict and the blockade of the Strait of Hormuz, will likely lead to increased food prices. Kenya Remittances Drop Sh21.6bn in March: Money sent home by Kenyans abroad experienced a significant drop of Sh21.6 billion as of March 16, 2026, according to new data released by the Central Bank of Kenya. Kenya's increasing reliance on domestic borrowing, now exceeding 54 percent of its total public debt, is sparking debate about its impact on the economy. The government's strategy shifts capital away from private sector growth, raising concerns about sustainability and governance. Members of the Kenyan Parliament have blocked a request for Sh280 million to upgrade the office of the Prime Cabinet Secretary, Musalia Mudavadi. The decision comes amidst calls for government austerity, fueling debate about the timing and necessity of the expenditure. War, Supply Chains Disrupt Africa's Pharmaceutical Manufacturing: Recent geopolitical conflicts, particularly in the Middle East, are significantly disrupting global pharmaceutical supply chains, leading to increased costs and potential shortages of medicines in Africa. A fierce competition is unfolding in the US weight-loss drug market, characterized by significant price cuts and direct-to-consumer sales as drugmakers struggle to gain traction due to a lack of widespread insurance coverage. For the first time in history, Chinese automakers have surpassed their Japanese counterparts in global vehicle sales, achieving the top position worldwide.



















