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Indian PM Cuts Motorcade to Conserve Fuel Amid Global Energy Crisis
Indian Prime Minister Narendra Modi has ordered a significant reduction in his motorcade to conserve fuel, part of broader efforts to address rising energy prices amidst the Middle East crisis. This comes as Russian Finance Minister Anton Siluanov warned that a blockade of the Strait of Hormuz has already caused a global energy crisis and could lead to a worldwide recession with increased food and fertilizer prices. Meanwhile, US inflation surged to 3.8% in April, the fastest rate since May 2023, primarily driven by escalating energy costs linked to the conflict in Iran. These developments highlight how the Middle East crisis is driving global energy price increases and inflation worldwide.
EAC Court Blocks Tanzania from Taxing Kenyan Matches
The East African Court of Justice has issued a temporary injunction blocking Tanzania from collecting an excise duty on Kenyan-made safety matches. This trade dispute resolution comes as Kenyan Members of Parliament are separately probing the disappearance of over 27,000 metric tonnes of imported sugar declared unfit for direct consumption, with the National Assembly Committee on Trade, Industry and Cooperatives questioning officials over the handling of this large consignment. Meanwhile, the National Treasury proposed a one-off tax on mitumba second-hand clothes to simplify existing multiple taxes, though this proposal was removed from the final Finance Bill 2026.
