Light News (LN)

  The truce between the US, Israel and Iran has eased pressure on African markets. But economists warn that deep‑rooted vulnerabilities mean the rebound may be short‑lived. Cautious relief is what many countries in sub-Saharan Africa are experiencing after the announcement of a ceasefire between the  United States ,  Israel  and  Iran  and the reopening of the  Strait of Hormuz  to maritime trade. But while markets responded quickly, economists are warning that a broader recovery will take time. Relief is tempered by vulnerability Daniel Silke, who heads the Cape Town-based Political Futures Consultancy, said after the pandemic many countries in the developing world had achieved some success in bringing down inflation but that is likely to be undone by rising global prices, "not just in terms of oil, but in terms of fertilizer costs,  liquefied natural gas (LNG)  costs and other critical energy supplies." The situation is particularly di...

  More than 250 people have been killed in a barrage of air strikes on Lebanon since the ceasefire was declared. Just hours after the United States and Iran announced a ceasefire in the war that has dominated news headlines around the world and pushed oil prices to new heights, Israel  bombarded Lebanon  on Wednesday, killing hundreds, injuring thousands and prompting Iran to reimpose its blockade of the Strait of Hormuz. The bone of contention: whether or not Israel’s relentless strikes on Lebanon were included in the ceasefire at all. Pakistan, which brokered the agreement, said they were. Israel said they weren’t. Later on Wednesday, the US sided with Israel, with President Donald Trump calling the violence in Lebanon “a separate skirmish” even though  Hezbollah had entered the war  in defence of Iran. In Israel, Prime Minister Benjamin Netanyahu has come under  intense political pressure  since the US and Iran signed the ceasefire, which had little...

  US threats against Iran and ongoing Israeli attacks in Lebanon cast doubt on fragile ceasefire efforts. United States President Donald Trump has warned that US forces will remain deployed around Iran and threatened overwhelming military action if Tehran fails to meet Washington’s demands, casting doubt over a fragile  ceasefire . Writing on social media late on Wednesday, Trump said US troops, aircraft and naval forces would stay in position until what he described as the “REAL AGREEMENT” is fully implemented. “All US ships, aircraft, and military personnel … will remain in place in, and around, Iran, until such time as the REAL AGREEMENT reached is fully complied with,” Trump wrote on Truth Social. “If for any reason it is not … the ‘Shootin’ Starts,′ bigger, and better, and stronger than anyone has ever seen before.” The remarks came just a day after a two-week ceasefire between Washington and Tehran,  brokered  by Pakistan, paused six weeks of fighting and brief...

  The price of oil rebounded on Thursday, as doubts began to set in about the state of the Iran ceasefire announced just  two days earlier by President Donald Trump . Chief among them was that fewer than a half-dozen ships had been observed transiting the Strait of Hormuz Wednesday. U.S. crude oil rose more than 7.5% to over $101 per barrel early in the day. International Brent crude rose 4% to about $99 per barrel as of 10:30 a.m. ET. Gas prices continued their monthlong climb, with the national average price per gallon hitting $4.17 on Thursday, according to AAA data. The move in oil prices higher effectively halted a plunge that began immediately after Trump announced a ceasefire on Tuesday night. U.S. crude  oil dropped more than 16% on Wednesday . "Prices rebounded as fighting in the Middle East continued, and the ceasefire outlook deteriorated, keeping uncertainty around the Strait of Hormuz firmly in focus," wrote ING commodities analysts in a Thursday morning note...

  Mounting global condemnation of Israel on Thursday was matched by confusion over whether Lebanon was part of the truce deal agreed to by President Donald Trump. Israel's  intense bombardment  left Beirut to confront new devastation Thursday as the U.S. ally's assault on Lebanon imperiled the  fragile ceasefire  with Iran. Mounting  global condemnation  of Israel was matched by confusion over whether Lebanon was part of the truce deal agreed to by President  Donald Trump . In the capital,  Beirut , the deadliest day of the current Israeli military campaign saw rescue workers search the rubble overnight as stunned civilians reeled from the surprise attacks. Adam Nsouli, a 25-year-old nurse at the American University Hospital in Beirut, said he was haunted by what he witnessed after the Israeli strikes, which killed at least 200 people. "The smell, the smoke — you can barely see — the fire, the sound of the screams," he recounted to NBC News o...