Iran
Iran is a country in Western Asia, bordered by the Caspian Sea to the north and the Persian Gulf to the south, with its capital in Tehran. It has a population of more than 80-million and operates as an Islamic republic under a theocratic political system combining elected and appointed institutions. Iran possesses one of the world's largest proven reserves of oil and natural gas, making hydrocarbons the backbone of its economy and a major source of export revenue. The country is a member of the Organisation of the Petroleum Exporting Countries and plays a significant role in global energy markets, though international sanctions have periodically constrained its oil exports and financial integration. Its economy also includes significant agricultural, manufacturing and services sectors, with the Iranian rial serving as the national currency. Iran's strategic location and resource wealth give it considerable geopolitical influence in the Middle East, but tensions with the United States, Israel and regional neighbours have led to cycles of sanctions, diplomatic isolation and military posturing. These sanctions have affected trade, investment and technology transfer, prompting Iran to seek closer economic ties with China, Russia and other non-Western partners. The country has invested in domestic refining, petrochemicals and industrial capacity to mitigate external pressures. Iran's nuclear programme remains a focal point of international diplomacy and a driver of sanctions regimes that shape its economic trajectory.
Iran Updates
Oil prices climb more than $4 after Israeli strikes on Iran, Lebanon
By: Reuters 8th June 2026 Oil prices jumped more than $4 on Monday, with investors spooked by fresh Israeli strikes on Iran as well as renewed attacks on Lebanon a day... →
Kenya private sector activity falls in May, PMI shows
By: Reuters 4th June 2026 Kenya's private sector activity shrank for a third straight month in May, hurt by a general rise in costs for both businesses and their customers,... →
Hostilities flare in Iran war, oil jumps with talks at a stalemate
By: Reuters 3rd June 2026 Gulf hostilities flared again on Wednesday, with an Iranian missile attack damaging Kuwait's airport and the US military carrying out strikes near... →
South Africa private sector contracts after four months of growth, PMI shows 
By: Reuters 3rd June 2026 South Africa's private sector contracted in May as output and new orders fell amid higher fuel prices and uncertainty linked to the Iran war, a... →
Kganyago signals resolve to curb inflation after rate hike
By: Reuters 2nd June 2026 South Africa's central bank governor Lesetja Kganyago said on Tuesday that the bank would bring inflation back to its 3% target, defending last... →
Iran war disruption threatening delivery of lifesaving supplies for children, UN says
By: Reuters 2nd June 2026 Surging global transport costs and supply chain disruptions linked to the Middle East crisis are threatening the delivery of lifesaving aid to... →
Mineral and Petroleum Resources announces adjustment of fuel prices effective from 3 June 2026
2nd June 2026 The Minister of Mineral and Petroleum Resources Announces Adjustment of Fuel Prices effective From the 3rd of June 2026 The Minister of Mineral and... →
Petrol prices to increase, but some relief for diesel prices
By: Tasneem Bulbulia 1st June 2026 The prices of petrol 93 and 95 (ULP and LRP) are both set to increase by R1.43 a litre, effective June 3, while diesel prices are set to decrease... →
South African rand steady as markets digest local data
By: Reuters 29th May 2026 The South African rand was steady on Friday as markets reviewed a range of domestic data for clues on the health of Africa's most industrialised... →
Kenya inflation rises sharply for second month, driven by fuel
By: Reuters 29th May 2026 Kenya's inflation rose sharply for the second month running in May, hitting its highest in more than two years largely due to fuel price hikes... →
