Breaking News Today – Monday 18 May 2026

African Start-up News Headlines:

• Kenya’s Ai Everything Summit, the largest Startup event in East Africa Kicks off in Nairobi today. The event is the definitive platform for AI innovation, global collaboration, and next-gen technology breakthroughs and includes GITEX KENYA, the region’s most advanced tech showcase and North Star Kenya – Kenya’s largest startup-investor event.
• Google has opened registrations for the 2026 Google Hustle Academy, a free AI and digital skills programme for entrepreneurs, students and small business owners in South Africa, Kenya and Nigeria. The 2026 edition is redesigned around one-day bootcamps and 60-minute webinars, replacing the longer formats of previous years.
• Africa Tech Summit London, a leading African tech conference in Europe, will return to the London Stock Exchange on May 29, 2026, for its landmark 10th edition. The event celebrates a decade of convening Africa’s most influential tech leaders, global investors, regulators, and innovators, while charting the next era of growth for the continent’s digital economy.

Business News Today 

Oil Prices Spike While Bond Yields Lift on Middle East Conflict Escalation

Asian share markets are sliding this morning as fresh drone attacks in the Arabian Gulf has pushed oil prices and bond yields higher, while the AI boom is set to ​be tested by earnings from Nvidia this week. A military drone strike caused a fire at a nuclear power plant in the United Arab Emirates, while Saudi Arabia reported intercepting three drones from Iran, ‌as U.S. President Donald Trump warned that Iran must act “fast” to reach a deal. Brent crude futures climbed $2.03, or 1.86%, ​to $111.29 a barrel by 0220 GMT, after touching $112 earlier, the highest price mark since 5th May. Japan’s 10-year government bond yield climbed toward 2.8% this morning, reaching a fresh 29-year high as surging oil prices linked to the Iran conflict intensified inflation concerns and strengthened expectations for a near-term rate hike by the Bank of Japan. 

Uganda Grants Starlink Operational License

Uganda has granted an operational license to Starlink, (Elon Musk’s satellite internet company) last Friday – 15 May 2026. President Yoweri Museveni announced it after witnessing the signing of a Memorandum of Understanding (MoU) and the operational licence agreement between the Uganda Communications Commission (UCC) and Starlink at State House Entebbe. Starlink can now legally operate and provide satellite broadband internet services across Uganda, including to underserved and rural areas. This comes after earlier restrictions that included suspending unlicensed operations and import restrictions on Starlink kits earlier in 2026. The approval marks a shift toward expanding digital connectivity and competition in Uganda’s telecom sector.

Metal Futures Bloodbath

Metal futures prices plunged on Friday with silver dropping by over -9%, alongside copper and platinum prices shedding -4.81% and -4.76% respectively%. Gold also shed around -2.2% with aluminium, tin and palladium all down over -2% on the day. Copper futures slipped below $6.2 per pound this morning 918 May), marking a third straight session of losses. Zinc Prices are the only metals futures that has bucked the trend and are holding above $3,500 per tonne, hovering near a more than 3½-year high. The price is supported by tightening supply conditions following recent disruptions. Operations at Nexa’s Cajamarquilla smelter in Peru were temporarily halted after a fire, while Glencore’s Kazzinc plant in Kazakhstan reduced capacity following a blast. While most metals are still in positive territory when looked at from a year-on-year perspective, platinum is down -4.57% year-to-date.

Breaking Business and Market News Shorts:  

• The latest Economist poll by YouGov (American based poll) shows that there is a growing backlash against Ai development, with the majority polled across age groups saying it is developing too rapidly and are skeptical that everyone will benefit economically from AI. 64% of Americans say that it is slightly or very unlikely that AI will create economic gains that benefit everyone
• Bitcoin prices fell to around $76,800 today, hitting its lowest level in more than two weeks as uncertainty surrounding the US-Iran war weighed on risk appetite. President Donald Trump continued to adopt a tougher stance toward Tehran as talks between Washington and Iran remained stalled
• Industrial production in the United States increased 0.7% in April 2026, the most in 14 months and more than market expectations for a 0.3% gain, after decreasing 0.3% in March. Manufacturing output, which accounts for about 78% of total industrial production, rose 0.6%, beating forecasts of 0.2%. 
• China’s new home prices across 70 cities shrank 3.5% yoy in April 2026, following a 3.4% decline in march 2026. This marks the 34th consecutive month of contraction and the sharpest pace of decline since May 2025, highlighting persistent weakness in the Chinese property sector. 
• China’s retail sales rose just 0.2% year-on-year in April 2026, slowing sharply from a 1.7% increase in March and well below the expected 2.0% gain. This marked the weakest growth since December 2022, as the fallout from the Iran war dampened consumer demand. Broad weakness was seen in big-ticket purchases, with automobile sales plunging 15.3%

Markets by Numbers 

Currency markets indicate the US dollar strengthening against major currencies today. The Greenback is trading against the Euro at 1.16221 while trading against the Pound at 1.33171. The Yen is currently trading at 158.95 to the dollar. The rand (ZAR), is currently trading around the 16.73 mark against the US dollar this morning.

Commodities:  

• Gold futures are trending around -0.8% lower this morning, and currently trading at around $4539.00 per ounce.  
• Copper prices have slid by around -0.8% today, with prices currently around $6.2006 per pound
• Silver futures are trending around -0.58% lower today, and currently trading at around $75.298 per ounce.
• Platinum futures have fallen by around -1% this morning, and currently trading at $1971.00, While Palladium prices are trending -1.4% lower, and currently trading around $1406.50 per ounce.
• Brent crude oil prices are trending 1% higher, and currently trading around $111.21. WTI is trading higher at $107.63 currently
• Cocoa futures continue to slide, down by around -4.4% this morning, with prices currently around $4002 per ton. 
• Coffee futures are trending around -3.1% lower today, and currently trading at around $2.6690 per pound

Crypto Currencies: 

• Bitcoin prices are trending -0.6% lower this morning, and trading at around $76 946 per coin currently 
• Ether prices are trending -0.3% lower today, and currently trading around $2121. 667
• $Trumpcoin are currently trading lower at around $2.092

(All prices quoted at approximately 06H55 Central African Time) 

African General News Briefs:

• Former Ivorian President Laurent Gbagbo used his platform in the 4th edition of the Renaissance Festival in the town of Songon M’Brathé to condemn the imprisonment of political activists. The gathering was organised by his African People’s Party – Côte d’Ivoire (PPA-CI) party which this week re-elected the 80-year-old as its president.”We have many comrades in prison. We must not only think of them, but we must work to ensure they are released,” Gbagbo said.Last October, an Ivorian court sentenced dozens of people to prison for taking part in banned demonstrations against the exclusion of candidates, including Gbagbo, in elections.
• A senior Islamic State group leader has been killed in a joint operation by United States and Nigerian forces in the west African country, the two countries’ presidents said. Nigeria’s President Bola Ahmed Tinubu called the strike, which took place in the early hours of Saturday morning, a “significant example of effective collaboration in the fight against terrorism”. In a statement posted on X, he confirmed al-Minuki’s death along with several of his lieutenants during a strike on his compound in the Lake Chad Basin.