Business & Economy
Featured News Stories
Stock Markets Slump as Oil Prices Surge Over Strait of Hormuz Fears
Global stock markets have significantly declined while oil prices surged above $100 a barrel due to escalating fears of supply disruptions through the Strait of Hormuz amid the ongoing US-Israeli conflict with Iran. Asian governments are moving to cap fuel prices in response to surging global oil costs, exacerbated by the US-Israel war with Iran. Bahrain's national oil company, Bapco Energies, has declared a force majeure on its operations following an Iranian drone attack on its refinery early Monday morning, resulting in civilian injuries while local demand remains secured. Meanwhile, G7 nations are convening an emergency meeting to address the economic fallout from the escalating conflict, which has sent oil prices soaring and stock markets plummeting.
Ruto Signs Infrastructure Fund Law to Unlock Sh5tn Development Plan
President William Ruto has signed into law the National Infrastructure Fund (NIF) Bill, 2026, a significant move to finance large-scale development projects through an investment-led approach. The Kisumu port is set to play a larger role in regional trade following a Sh350 million allocation for dredging, enabling it to accommodate bigger vessels amid a surge in cargo traffic. Separately, the National Transport and Safety Authority (NTSA) has launched a new Instant Fines Traffic Management System that automatically issues traffic violation notifications via SMS to motorists.
