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In Yemen, the government's efforts to curb the devaluation of the Yemeni riyal have led to a stabilisation of the currency, but have also created a severe liquidity crunch. The Central Bank of Yemen, based in the southern city of Aden, has implemented measures to control currency speculation and provide traders with hard currency.Despite these efforts, cash shortages have worsened, with people in government-controlled cities such as Aden, Taiz, and Mukalla struggling to access Yemeni riyals. Many are unable to convert foreign currency, such as US dollars or Saudi riyals, into local cash, leading to a thriving black market for currency exchange.The cash shortage has paralysed businesses and left many Yemenis unable to access their savings or use their hard currency. Mohammed Omer, a small grocery shop owner in Mukalla, said he has spent hours trying to convert Saudi riyals into Yemeni riyals, but has been unable to do so due to the cash shortage.The Yemeni government has acknowledged the cash shortage and approved short-term measures to address the problem. However, the crisis has highlighted the country's ongoing economic struggles, which have been exacerbated by the war between the Saudi-backed government and the Iran-aligned Houthis.

The strategic waterway of Hormuz has once again been plunged into chaos, with traffic grinding to a halt following Iran's recent military actions against vessels in the region. This development comes as Iran and the United States continue to navigate a complex and delicate situation, with ceasefire agreements set to expire on Wednesday. Iran's chief negotiator has indicated that while progress has been made in negotiations with the US, significant hurdles remain before a deal can be reached. This stalemate has heightened concerns about a potential return to conflict in the region. Iranian Deputy Foreign Minister Saeed Khatibzadeh has emphasized that no new round of face-to-face talks with the US has been scheduled, citing Washington's "maximalist" demands as a major point of contention. The situation remains volatile, with the international community closely monitoring developments in the Strait of Hormuz, a critical passage for global oil supplies.

Pope Leo XIV has addressed tens of thousands of faithful near Angola's capital, Luanda, urging the country to overcome divisions and corruption during a landmark tour of Africa. Speaking at an open-air Mass on Sunday in the town of Kilamba, Leo addressed the country's civil war-scarred past, which he said has brought enmity and division, squandered resources and poverty.The pontiff arrived in the Portuguese-speaking nation on Saturday for the third leg of a four-nation tour of the continent, which began in Algeria and Cameroon and will also include a stop in Equatorial Guinea. At a meeting with Angolan officials, including President Joao Lourenco, Leo spoke out against the suffering and social and environmental disasters caused by the rampant exploitation of natural resources.Leo said he is not afraid of the Trump administration and will continue to speak out against war. The pope's rhetoric has put him at odds with Trump, who last week called the Catholic leader weak and terrible for foreign policy. Many people who attended the Mass at Kilamba arrived early in the morning in anticipation, with Sister Christina Matende saying, The pope coming here is a joy. We are living in a moment of a lot of difficulties, and we are waiting for the blessing of the pope.

US President Donald Trump's recent announcements about securing major concessions from Tehran have sparked rejections and clarifications from Iranian authorities. Trump claimed that Iran had agreed to stop enriching uranium on its soil and would jointly dig up enriched uranium buried under the rubble of bombed Iranian nuclear sites with the US.The Iranian government quickly responded to Trump's claims, with Parliament Speaker Mohammad Bagher Ghalibaf rejecting all of them. The Khatam al-Anbiya Central Headquarters of the Islamic Revolutionary Guard Corps (IRGC) also released a statement saying the Strait of Hormuz is once again heavily restricted and under 'strict management' of the armed forces.The dissonance was clearly on display on state television and other state-linked media, with multiple hosts and analysts harshly attacking Foreign Minister Abbas Araghchi for tweeting that the Strait of Hormuz was 'declared completely open for the remaining period of ceasefire'. The Iranian economy continues to suffer, with oil prices dropping and the Iranian currency experiencing volatility.

Iran's Islamic Revolutionary Guard Corps (IRGC) Navy declared the Strait of Hormuz closed on Saturday, April 18, 2026, warning that any vessel attempting passage would be targeted. The announcement came less than 24 hours after the waterway had been briefly reopened, reigniting concerns over maritime security in the Persian Gulf and the broader U.S.-Iran standoff.The IRGC statement, relayed by Iran's Student News Agency, stipulated that the closure would remain in effect until the United States lifts its naval blockade on Iranian vessels and ports—a move Tehran labels a breach of the cease‑fire agreement linked to the ongoing U.S.-Israel conflict with Iran.Speaker of Iran's Parliament Mohammad Bagher Ghalibaf emphasized on television that “the Strait of Hormuz is under the control of the Islamic Republic,” condemning the U.S. blockade as “clumsy and ignorant.” Meanwhile, Supreme Leader Mojtaba Khamenei warned the navy was prepared to deliver “new bitter defeats” to its adversaries.Just hours earlier, Iranian Foreign Minister Abbas Araghchi had announced the strait “completely open for all commercial vessels,” prompting a brief surge of more than a dozen merchant ships and a dip in global oil prices. The sudden reversal underscores the volatility of the region’s energy markets, where even short‑lived openings can sway price benchmarks.According to the United Kingdom Maritime Trade Operations (UKMTO), Iranian gunboats fired on two commercial vessels, and India’s Ministry of External Affairs confirmed that two Indian‑flagged ships were involved in a “shooting incident.” Some merchant crews reported receiving radio warnings from the IRGC Navy that no ships would be permitted through the strait.U.S. President Donald Trump responded by stating Tehran could not “blackmail Washington” and warned that the naval blockade would “remain in full force” unless a cease‑fire deal is secured before its Wednesday deadline. Trump also hinted at ending the cease‑fire if Iran persists with the closure.Al Jazeera analysts described the situation as “two competing blockades,” noting that the brief reopening had raised hopes for a confidence‑building measure, only to revert to a stalemate. Correspondent Zein Basravi observed that the strait has become “the only space for engagement,” even if that engagement is hostile, serving as a platform for Iran to signal leverage to the United States.

Turkey’s leadership sees the fallout from the Iran‑U.S. confrontation as a chance to rebrand the country as a secure gateway for capital flowing from the Gulf, even as the war has pushed up local fuel costs and forced the state to tap foreign‑exchange reserves to support the lira. While Iranian missiles have battered infrastructure in the United Arab Emirates, Saudi Arabia and Qatar, Turkey—shielded by NATO air defenses—has largely escaped direct attacks, allowing Ankara to promote a narrative of security and stability for businesses. President Recep Tayyip Erdoğan has openly framed the regional crisis as a catalyst for Turkey’s ambition to elevate Istanbul into a premier global financial centre. In a recent social‑media statement he echoed the sentiment that, just as the pandemic opened new opportunities, the current geopolitical shock will "open new doors" for the nation. Finance Minister Mehmet Şimşek confirmed that the government is drafting "radical" incentive packages aimed at attracting foreign capital, though details remain under wraps. Experts say the proposed measures could include tax exemptions for firms that route commodity trades through Turkish entities without physically importing goods, offering a meaningful fiscal advantage over traditional Gulf intermediaries. "A liberal investment climate, streamlined entry procedures and comprehensive incentives could boost Turkey’s standing," said Bilal Bağış, head of economics at Fatih Sultan Mehmet Vakıf University. The outlook is reinforced by the recent launch of the Istanbul Financial Center (IFC) in 2023, which promises a 100 % corporate‑tax exemption on export earnings until 2031. IFC officials report growing interest from both private firms and sovereign investors, especially from East Asian economies. "We are in close dialogue with Japan, South Korea and the United Kingdom," an IFC spokesperson told Al Jazeera, highlighting Istanbul’s "triple advantage" of geography, innovation and economic depth, with a claim that the city can reach 1.3 billion people and a $30 trillion market within a four‑hour flight. Nevertheless, Istanbul still lags behind regional rivals. The latest Global Financial Centres Index places it at 101st, far behind Dubai (7), Abu Dhabi (21), Doha (48) and Riyadh (61). The gap reflects persistent challenges: double‑digit inflation, a lira that loses roughly 20 % of its value against the dollar each year, and concerns over policy predictability. Analysts warn that without addressing structural issues—such as high bureaucracy, legal uncertainty and imported inflation—Turkey’s bid to become a financial hub may remain aspirational. "The math gets complicated fast for firms earning in multiple currencies while paying salaries in a depreciating lira," noted Gulf‑based adviser Güney Yıldız. Occupancy at the IFC is still below half, though officials aim for a 75 % fill rate by year‑end. Critics argue that Istanbul lacks the "tabula rasa" appeal of Dubai, where regulatory frameworks can be more readily shaped to investor preferences. Some scholars suggest that Turkey should view its strategy as a gradual positioning rather than a direct showdown with Dubai. Finance professor Hasan Dincer emphasized that long‑term investor confidence hinges on predictability and transparent policy, noting that the success of initiatives like the IFC will depend on sustained implementation.

Pakistan’s top civilian and military leaders have returned home after intensive diplomatic missions aimed at reviving stalled United States‑Iran negotiations. Field Marshal Asim Munir concluded a three‑day visit to Tehran, while Prime Minister Shehbaz Sharif wrapped up a tour of Saudi Arabia, Qatar and Turkey. During his stay in Iran, Munir met President Ebrahim Raisi, Foreign Minister Abbas Araghchi, Parliament Speaker Mohammad Bagher Ghalibaf and the head of Iran’s military central command centre. The Pakistani military described the trip as a demonstration of Islamabad’s “unwavering resolve to facilitate a negotiated settlement… and to promote peace, stability and prosperity.” Iran’s delegation, led by Ghalibaf and Araghchi, had visited Islamabad the previous week for face‑to‑face talks with the United States – the highest‑level contact between Washington and Tehran in decades. Those talks concluded without an agreement, and the ceasefire that followed is set to expire on April 22. Prime Minister Sharif’s itinerary focused on rallying regional support. After meetings in Riyadh and Doha, he and Foreign Minister Ishaq Dar attended a diplomatic forum in Antalya, Turkey. Sharif posted on X that he left Antalya with “fond memories and a renewed commitment to further strengthening the enduring fraternal bonds” between Pakistan and Turkey, and to “continue our close cooperation to advance dialogue and diplomacy for lasting peace and stability in the region.” The flurry of activity comes as Iran re‑imposed restrictions on the strategic Strait of Hormuz shortly after its brief reopening, accusing the United States of violating a reopening agreement. This move has intensified pressure on Washington to re‑engage in talks. Former President Donald Trump has hinted that a second round of US‑Iran negotiations could be hosted in Pakistan in the coming days, praising Munir as “doing a great job.” Al Jazeera’s Kamal Hyder reported that Munir landed back in Islamabad on Saturday, with Pakistani officials preparing for another round of talks expected “within the next few days.” While significant differences remain, the combined diplomatic outreach by Pakistan’s civilian and military leadership has drawn praise from the Trump administration and raised expectations that Islamabad could become the next venue for a breakthrough in US‑Iran relations.

Oil prices have plummeted to their lowest point in weeks after Iran said the Strait of Hormuz was open for passage during a ceasefire in Lebanon. The international benchmark, Brent crude, fell more than 9 percent to $90.38 a barrel on Friday, taking it below $91 for the first time since March 10.Iranian Foreign Minister Abbas Araghchi said the strait was “completely open” and would remain so for the duration of the 10-day ceasefire between Israel and Lebanon, which took effect on Friday. US President Donald Trump hailed Tehran’s announcement, declaring the waterway “ready for business and full passage.”However, on Saturday, Iran rowed back on its decision to reopen the Strait of Hormuz, warning that it would continue to block transit through the key waterway as long as the US blockade of Iranian ports remained in effect. Trump said the blockade “will remain in full force” until Tehran reaches a deal with the US, including on its nuclear programme.Roughly one-fifth of the world’s oil passes through Hormuz and further limits would squeeze already constrained supply, driving prices higher once again. Amid the escalation, Pakistani officials say they are trying for more talks between the US and Iran ahead of the April 22 ceasefire deadline.Meanwhile, ship tracking data displayed a significant uptick in vessels crossing the strait on Saturday, with an analyst at maritime intelligence firm Windward saying it was the busiest since the Strait of Hormuz was effectively closed at the beginning of the war.

Pope Leo XIV has arrived in Angola, marking the third leg of his landmark African tour. The visit comes at a time of heightened tensions with US President Donald Trump, who has publicly criticized the Pope's stance on various issues, including the Middle East conflict. The Pope's visit to Angola is significant, as he is the third pontiff to do so, following John Paul II in 1992 and Benedict XVI in 2009. During his stay, he is expected to meet with Angola's President Joao Lourenco and deliver a speech to the nation, where approximately 44 percent of the population identifies as Catholic. The Pope's message of world peace and his warnings against corruption and exploitation are likely to resonate deeply in Angola, a country that emerged from a 27-year civil war in 2002. About one-third of Angola's population lives below the poverty line, despite the country's vast fossil fuel reserves. Throughout his Africa visit, Pope Leo has been vocal about his concerns regarding corruption, the exploitation of resources, and the dangers of artificial intelligence. His statements have drawn attention and sparked discussions globally, particularly in the context of his public disagreements with President Trump. The clash between the Pope and Trump escalated when Trump called the Pope 'weak on crime' and 'terrible for foreign policy'. The Pope responded by stating he was not afraid of Trump and would continue to speak out against war. This public exchange marks a rare instance of a pontiff and a sitting US president engaging in a public dispute. During his visit, the Pope will also celebrate an open-air Mass in Kilamba and travel to Muxima and Saurimo for further engagements. His 18,000km African tour will conclude in Equatorial Guinea.