Economic news covering inflation, trade, policy, growth, markets and financial trends shaping national and global economies.
Rwanda plans to exempt businesses and individuals with annual turnover below Rwf2 million from mandatory use of Electronic Billing Mac ministerial order. The measure forms part of tax reforms approved by the Cabinet to simplify compliance for small businesses while maintaining reliable records of commercial transactions. Alternative recording methods would be introduced for taxpayers who…
Global crude oil prices declined on July 1, 2026, after renewed optimism emerged from diplomatic talks between the United States and Iran. Market confidence increased as investors responded to signs of progress in discussions that could improve stability in global energy supplies. According to market data, the price of a barrel of crude oil fell…
Global oil prices have returned to levels seen before the recent conflict involving Iran, the United States, and Israel, following a temporary ceasefire agreement that has reduced uncertainty in energy markets. According to market data released on June 25, 2026, the price of a barrel of crude oil declined to approximately $72.48, marking a significant…
Rwanda now applies value added tax to a wide range of digital goods and services. These include streaming platforms, ride hailing apps, online courses and cloud based tools. The move reflects a growing global trend to tax digital consumption where users access it. The government published the new rules in a ministerial order on April…
The US-China AI model copying allegations have raised serious global concerns. The White House accuses Chinese-linked groups of copying advanced US AI systems. Officials say these groups use large-scale and coordinated methods. This issue has increased tension between the US and China in the AI race. Alleged Large-Scale AI Copying US officials say foreign actors…
Tesla has revealed plans to invest more than 25 billion dollars in 2026, focusing on artificial intelligence, robotics, and advanced computer chips. The move reflects a bold strategy to strengthen its position in the rapidly evolving technology and electric vehicle markets. The company aims to expand its capabilities and maintain a competitive edge as innovation accelerates…
The United Arab Emirates has announced it will leave OPEC and its extended alliance OPEC+ next month, ending nearly six decades of membership. Officials say the move will allow the country to increase oil production and respond more flexibly to global energy demand. The decision follows years of investment aimed at expanding production capacity. Energy…
