GBN

London, June 18, 2026 – Oil prices were under pressure in early Asian trading on Thursday after the U.S. and Iran formally signed an agreement to reopen the Strait of Hormuz. The speed at which oil markets have changed their tune in recent weeks has been remarkable, with the IEA now warning of an oil glut despite major tightness in today’s market. At the time of writing, Brent crude was trading at $77.64 per barrel, down 2.40% on the day, while West Texas Intermediate had fallen 2.88% to $74.58 per …

Tokyo, June 18, 2026 – Some major Asian stock ​gauges hit record highs and oil prices fell further on Thursday after the U.S. and Iranian presidents ‌boosted investor sentiment by signing an interim peace deal.Japan’s Nikkei share average, rose to an intraday record high for a fourth straight session, surging past 71,000, while South Korea’s benchmark KOSPI index reached a record 9,000.68. Both found support from solid gains in semiconductor and AI-related shares. Taiwan’s stocks also rose ​to an intraday high, touching 46,565.70. MSCI’s broadest index of Asia-Pacific shares outside Japan edged 0.2% higher. …

London, June 18, 2026 -The presidents of the US and Iran have signed an initial peace deal aiming to end the war, allowing it to immediately take effect. The agreement includes reopening the Strait of Hormuz, a $300bn (£224bn) plan for Iran’s “reconstruction”, and the US terminating “all types of sanctions” on Iran. But the issue of Iran’s nuclear programme, the main reason stated by the US for the conflict, is still to be negotiated over an extendable 60-day period. US President Donald Trump, who signed the deal in France …

London, June 17, 2026 – Former ​Nigerian oil minister Diezani Alison-Madueke was found not guilty of six bribery charges by a London ‌jury on Wednesday, after a rare corruption trial of a high-profile former energy official. The verdicts are a major blow to British authorities, who began their investigation into corruption allegations against Alison-Madueke more than a decade ago. Alison-Madueke, the first woman to be Nigeria’s minister for petroleum resources between ​2010 and 2015 under then-President Goodluck Jonathan, stood trial charged with five counts of accepting bribes and a ​charge …

Abuja, June 17, 2026 – Non-oil trade between Nigeria and the United Arab Emirates (UAE) grew to $4.9 billion in 2025 from $1.3 billion in 2020. Saeed Bin Mubarak Al Hajeri, UAE Minister of State at the Ministry of Foreign Affairs, said this while speaking on economic relationship between both countries in an interview. He said Nigeria had become an increasingly important partner within the UAE’s broader engagement across Africa, adding that the relationship is increasingly being shaped by long-term economic priorities rather than short-term external developments.  “The UAE–Nigeria partnership …

Lagos, June 17, 2026 – As part of its commitment to youth empowerment, financial inclusion, and building a financially responsible generation, Polaris Bank has held a Financial Literacy Day session at Community Day Secondary School, Tsaski Yan’albasa, in Charanchi Local Government Area of Katsina State. The event, which took place on June 9, 2026, formed part of the Bank’s activities to commemorate Global Money Week (GMW). The interactive session reached and impacted 90 students and 10 teachers, providing practical insights into savings, budgeting, responsible spending, banking essentials, financial goal-setting, peer …

Paris, June 17, 2027 – The G7 summit of world powers in France is being chaired by President Emmanuel Macron as host but on Wednesday his guest US President Donald Trump left no doubt over who he believed was in charge. “I’m the boss,” Trump said as he strode in to the morning session of the last day of the three-day G7 summit, with the other leaders already in their seats. Amid laughter, Macron appeared to take the comment with good humour. “How are you?” the French president asked. “Good, …

Lagos, June 17, 2026 – Elohor Aiboni, a former Managing Director Shell Nigeria Exploration and Production Company Limited (SNEPCo) and currently on assignment as Asset Director at Brunei Shell Petroleum, has been named Executive Vice President and Country Chair Nigeria. She is taking over from Marno de Jong who leaves Shell to pursue an opportunity elsewhere, after a 34-year career with the company. Marno was appointed Senior Vice President Nigeria in 2020 and later became Executive Vice President in addition to the role of Country Chair, overseeing all Shell’s operations …

Lagos, June 17, 2026 – The World Bank Group and African Development Bank Group have connected over 50 million people to electricity across 40 countries in Sub-Sharan Africa through Mission 300. Mission 300, a joint initiative of the two banks to provide electricity to 300 million people in Sub-Saharan Africa by 2030. The program aims to eradicate energy poverty, boost economic growth, and create jobs across the continent. The two banks have committed nearly $15 billion to Mission 300 projects and leveraged approximately $4.5 billion in co-financing. In a statement …

By Jennifer Schonberger Washington, June 17, 2026 – Kevin Warsh will preside over his first interest rate-setting meeting as Federal Reserve chair on Wednesday, when the central bank is expected to hold rates steady. All eyes will be on Warsh as Fed watchers try to discern his views, his personal credibility, and how he will position the Fed in the current landscape. The committee is facing hotter inflation readings as the conflict in Iran has pushed inflation higher. “While Warsh is generally perceived as dovish, he will inherit a committee …