Breaking News Today – Monday 9 March 2026

Business News Today 

$40 Dollar Smartphone Ambition Gains Momentum

A major push by a coalition of telecom operators, device makers, and industry groups is underway, to bring $40 smartphones to market. This is a price tag seen as the key to getting tens of millions more people connected to the online environment. The move towards this objective is gathering momentum, however, questions remain over whether manufacturers can produce such ultra-low-cost devices at scale. The GSMA Handset Affordability Coalition is commited to lower the cost of entry-level smartphones worldwide and accelerate digital inclusion in markets where affordability remains a key barrier.

This week at Mobile World Congress in Barcelona, GSMA said it is working with major African mobile operators that includes Airtel, Axian Telecom, Ethio Telecom, MTN Group, Orange, and Vodafone, as well as various smartphone manufacturers to pilot ultra-low-cost 4G devices in six African markets: the Democratic Republic of the Congo, Ethiopia, Nigeria, Rwanda, Tanzania, and Uganda, in a bid to make smartphones more affordable and bring an additional 20 million people online. Vivek Badrinath, Director General of the GSMA, said: “Affordable smartphones enable digital and financial inclusion, economic opportunity and innovation. 3.1 billion people have mobile coverage but are not connected to the mobile internet.” 

Brent Oil Prices Surge 27%

Brent crude oil futures have surged by around 27% to around $115 per barrel this morning, amid a series of production cuts from major Middle Eastern producers following disruptions in the Strait of Hormuz. The jump represents the largest one-day gain since April 2020 and the highest price level since June 2022, extending last week’s 27% jump. In Iraq, output from its three main southern oilfields has dropped by 70% to 1.3 million bpd from 4.3 million bpd prior to the conflict, according to industry sources. Kuwait, OPEC’s fifth-largest producer, also began cutting production on Saturday and has declared force majeure. These followed LNG production cuts from Qatar last week, further tightening global supply. Analysts also anticipate potential output reductions from the UAE and Saudi Arabia due to rapidly filling storage facilities.

New International Airport Upgrade in Tunisia

Tunisia plans to expand its main Tunis-Carthage ​airport at an estimated ‌cost of about 3 billion dinars ($1 billion), aiming to nearly ​quadruple passenger capacity ​as part of efforts to ⁠modernise air transport infrastructure.The ​Transport Ministry announced on Sunday, that ​the project will increase the airport’s capacity from about 5 million ​passengers to 18.5 million ​passengers annually by 2031. The Tunisian administration has abandoned, for the time ​being, plans to ​build ⁠a new airport and instead opted to expand Tunis-Carthage ⁠International ​Airport, the ministry ​added.

Tunisia’s tourism sector achieved historic records in 2025, with over 11 million visitors in 2025, the highest recorded in the country’s history. This surpassed the 2024 total of approximately 10.26 million (or around 10.2–10.25 million in some reports), representing roughly a 7–10% year-on-year increase. This has sparked the desire by the administration to upgrade their air traffic facilities.

Breaking News Shorts:  

• Gold futures prices fell below $5,100 per ounce this morning as a firmer US dollar and diminishing expectations of Federal Reserve rate cuts offset safe-haven demand from the escalating Middle East conflict. The surge in oil prices could complicate the Federal Reserve’s policy outlook, reinforcing expectations that rate cuts may be delayed and increasing the risk of stagflation
• The benchmark FTSE/JSE All Share Index (Alsi) has plunged from a high of around 128450 points at the end of February, to 116 583 in the last trading session, wiping out all gains it had made so far in 2026. The Middle East conflict, which has seen the oil price spiral to over $90, and disrupt supply-chain globally, has been the key factor.
• Two Major Banking groups in Africa, Standard Bank and Absa will be releasing their 2025 full year financial results this week, with Standard Bank expecting similar results to their first half numbers, with earnings per share in single digits, while Absa said they anticipate return on equity of around 16% with earnings per share in low double digits
• The dollar has surged today with soaring oil prices ​sending investors scrambling for cash on concerns that a protracted Middle East war could severely disrupt energy supplies and hurt ‌global growth.Against the surging greenback, the euro and sterling were down roughly 1% in Asia, while the Aussie and even the safe-haven Swiss franc similarly lost ground, as the dollar proved its global status.
• Caitlin Kalinowski, The senior Open AI leader, who oversaw ​hardware at OpenAI, announced her resignation from the company on Saturday, citing concerns ‌about the company’s agreement with the Department of Defence. In a social media post on X, Kalinowski wrote that OpenAI did not take enough ​time before agreeing to deploy their AI service on the ​Pentagon’s classified cloud networks.

Markets by Numbers 

Currency markets indicate the US dollar stronger today against major currencies today. The Greenback is trading against the Euro at 1.15292 while trading against the Pound at 1.33057. The Yen is currently trading at 158.70 to the dollar. The rand (ZAR) is currently trading -1.8% weaker today, at around R16.85 against the US dollar.

Commodities:  

• Gold futures have fallen below the $5100 mark this morning, and currently trading -1.3% lower at around $5087.75 per ounce.  
• Copper prices are trending 0.7% higher today, with prices currently around $5.7024 per pound
• Silver futures are trending -2% lower today, and currently trading at around $82.649 per ounce.
• Platinum futures are trending around -1.8% lower this morning, and currently trading at $2101.30, While Palladium prices are trending -2.7% lower this morning, and currently trading around $1617.00 per ounce.
• Brent crude oil prices have surged by around 27% today, with prices currently at $117.34 with WTI trading at $116.50 – up over 28%
• Cocoa futures have spiked by over 5.7% this morning, and currently trading around $3230 per ton. 
• Coffee futures are trending upwards by over 1.2% today, and trading at around $2.9330 per pound

Crypto Currencies: 

• Bitcoin prices are trending around 1.7% higher this morning, and trading at around $67179 per coin currently 
• Ether prices are also higher by around 2% today, and currently trading around $1977.35
• $Trumpcoin are currently trading around $3.015

(All prices quoted at approximately 07H00 Central African Time) 

Africa News Briefs:

• Guinea’s government has dissolved 40 political parties, including the country’s three main opposition groups, in a move critics say marks the final step towards a one-party state under President Mamady Doumbouya. The Ministry of Territorial Administration and Decentralisation issued the decree late on Friday, citing the parties’ failure to meet their legal obligations.
• Torrential rains have devastated the Kenyan capital Nairobi killing at least 23 people over the weekend, leaving destruction in its wake. Reports indicate that at least 23 people were killed in flash flooding in Nairobi, police said on Saturday, amid search and rescue operations and widespread devastation. Severe rainfall lashed the Kenyan capital late Friday, delaying road and air traffic and turning major streets into rivers while flooding thousands of homes and businesses.Emergency rescue teams were still pulling out bodies and rescuing trapped residents on Saturday.