International
Oil jumps 7% to above $100 ahead of US blockade of Strait of Hormuz
U.S. Central Command said U.S. forces would begin implementing the blockade of all maritime traffic entering and exiting Iranian ports at 10 a.m. ET (1400 GMT) on Monday.
Oil prices jumped above $100 a barrel on Monday as the U.S. Navy prepared to block ships from reaching Iran via the Strait of Hormuz, a move that could restrict Iranian oil exports, after Washington and Tehran failed to reach a deal to end the war.
U.S. Central Command said U.S. forces would begin implementing the blockade of all maritime traffic entering and exiting Iranian ports at 10 a.m. ET (1400 GMT) on Monday.
Reuters reported that Brent crude futures rose $6.71, or 7.05%, to $101.91 a barrel by 0104 GMT after settling 0.75% lower on Friday.
U.S. West Texas Intermediate was at $104.16 a barrel, up $7.59, or 7.86%, following a 1.33% loss in the previous session.
“The market is now largely back to conditions before the ceasefire, except now the U.S. will block the remaining up to 2 million barrels per day Iranian linked flows through the Strait of Hormuz as well,” said Saul Kavonic, head of energy research at MST Marquee.
President Donald Trump said on Sunday the U.S. Navy would start blockading the Strait of Hormuz, raising the stakes after marathon talks with Iran failed to reach a deal to end the war, jeopardising a fragile two-week ceasefire.
International
Japan beer giants raided over alleged price-fixing cartel
Asahi, Kirin and Sapporo all saw their share price fall after news of the investigation broke on Wednesday. Suntory’s beer business is not publicly-listed.
Image credit: BBC| GETTY Images
Japanese officials have raided the country’s biggest beer makers over allegations they worked together to raise the price of their beverages.
Asahi, Sapporo, Kirin and Suntory Spirits confirmed to the BBC that their premises had been searched by the Japan Fair Trade Commission (JFTC), adding that they would fully cooperate with the regulator.
The four firms dominate Japan’s beer market, with their drinks a common sight in supermarkets and convenience stores across the country.
Asahi, Kirin and Sapporo all saw their share price fall after news of the investigation broke on Wednesday. Suntory’s beer business is not publicly-listed.
“I do not deny that an investigation is being conducted today, but I’d like to refrain from commenting on the details as a preliminary review is underway,” JFTC Secretary General Iwanari Hiroo said, according to local media.
International
Belgian Students Protest Over Rising Education Costs
Tuition fees for most students in Belgium’s French-speaking Community, was increased from €835 to €1,194.
Hundreds of students in the Belgian city of Liège took to the streets protesting rising education costs, according to Belga news agency.
Tuition fees for most students in Belgium’s French-speaking Community, was increased from €835 to €1,194.
Local media reported that 107 people had been arrested in recent days, for offences linked to property damage and arson.
The protesters are challenging conditions in Belgium’s French-language education system, citing rising costs, overcrowded classrooms and difficulties accessing study materials.
Students carried placards expressing their frustration, including messages calling for education to be treated as a right rather than a privilege.
International
Ethiopian woman says she hasn’t eaten or drunk water since age 10
Despite claiming not to eat, Ambaw said she enjoys preparing meals for her family and visitors.
•Muluwork Ambaw
An Ethiopian woman, Muluwork Ambaw, has claimed that she has not eaten food or drunk water since she was 10 years old, saying she suddenly lost her appetite as a child.
Ambaw, who is now 26 and lives in Jimma, Ethiopia, said her last meal was lentil stew before she stopped eating and drinking.
Her extraordinary claim gained international attention after travel content creator Drew Binsky visited her in Ethiopia and documented her story and daily life.
According to Ambaw, the change began when her family would ask her to have breakfast before going to school.
Her extraordinary claim gained international attention after travel content creator Drew Binsky visited her in Ethiopia and documented her story and daily life.
According to Ambaw, the change began when her family would ask her to have breakfast before going to school.
“I used to live with my family, and they asked me to eat breakfast and go to school. I said I had eaten, but I was pretending,” she said, according to an account shared by Binsky.
Ambaw said she simply stopped feeling hungry or thirsty and has continued living without consuming food or water.
Despite claiming not to eat, Ambaw said she enjoys preparing meals for her family and visitors.
She reportedly grows vegetables in her garden so she can cook fresh food when her sister or guests visit.
“I cook as much as I want, but I have no appetite,” she said.
Investors Rush For Airtel Money IPO on LSE
JUST IN: NNPC Clarifies Petrol Discount: Relief Initiative, Not Subsidy Restoration
JUST IN: A’Court Stalls SERAP, Oluwadare Defamation Appeals Over Late Briefs
Tech Expert, Zuckerberg trains with UFC champions, Adesanya, Alexander
Organ Trafficking: Ekweremadu bags 10 years in UK prison
SAINT OBI: Between his marriage and his death
-
News2 days agoNAF Helicopter Makes Precautionary Landing In Makurdi
-
Business2 days agoNaira Today Exchange Rates, Thursday October 8
-
News1 day agoTears, Embraces as Rescued NYSC Members Reunite with Families in Ibadan
-
Business1 day agoNaira Exchange Rates Friday, October 9
-
Business2 days agoObi advocates policy support for manufacturers
-
Business1 day agoManufacturers sitting on N40trn untapped opportunities, says report
-
News3 days agoBreaking: Military rescue 20 corps members, civilian in Imo
-
News1 day agoAhmadu Bello University Hikes Fees Across Programme