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APRIL 29 2026 – Oil markets are absorbing a structural shock following the United Arab Emirates' decision to exit Opec after six decades, a break that strikes at the cohesion of a group long relied upon to shape global supply and pricing, affirms the CEO of one of the world's largest independent financial advisory organisations.

The analysis from Nigel Green, CEO of deVere Group, comes as oil prices edged higher on the news but stopped short of a breakout, with Brent crude trading around $111 a barrel after briefly approaching $120 amid escalating tensions involving Iran and disruption risks in the Strait of Hormuz.

He comments: “A core pillar of oil market stability has been removed by this unexpected move.

“The UAE is not a marginal player. It's one of the very few producers with both meaningful spare capacity and the operational flexibility to bring barrels online quickly, which has been critical to how Opec has managed supply and influenced pricing.

“Removing that capacity from a coordinated structure is likely to create a more fragmented supply outlook at a point where markets are already under pressure from the US-Iran war and constrained shipping routes.”

He continues: “Oil is trading higher, but the reaction has, so far, been pretty measured.

“Markets are already looking beyond the headlines to what this means for future supply. There's no immediate loss of barrels, so the move reflects uncertainty pricing rather than a genuine supply shock.

“Near-term disruption risk is pushing prices up, while the prospect of weaker producer coordination is limiting how far that rally extends.”

Short term, conflict risk remains dominant. Any sustained constraint through Hormuz keeps crude firmly supported, and a return toward $120 remains “entirely plausible” if tensions intensify or shipping flows are disrupted further.

Focus is shifting toward the structural implications for Opec's influence. The group's pricing power has long depended on a small number of members with spare capacity acting in coordination, particularly Saudi Arabia and the UAE. A divergence between those producers weakens that model.

Nigel Green says: “Medium term, the balance shifts. A less cohesive Opec reduces the credibility of production caps and forward guidance. The UAE has both the economic incentive and the technical capacity to increase output independently, especially as producers seek to maximise revenues during a period of still-strong demand.”

Global oil consumption remains near record levels at more than 102 million barrels per day, supported by demand from major Asian economies and a continued recovery in aviation. Supply growth outside Opec has been inconsistent, leaving markets exposed to internal fractures among exporters.

“Additional UAE supply over the next 12 to 24 months would, we expect, begin to reshape pricing dynamics.

“Assuming geopolitical tensions stabilise, crude could move back into an $80 to $95 range as incremental barrels come through. Volatility, however, becomes embedded because coordination risk does not disappear.”

The geopolitical dimension extends beyond energy markets.

The UAE's repositioning comes alongside closer financial engagement with the US.

President Trump has repeatedly criticised Opec's role in sustaining higher oil prices, and recent discussions around potential currency support arrangements between US and UAE authorities point to deeper strategic alignment.

“Stronger ties between the UAE and the US introduce a different layer of influence,” notes the deVere chief executive.

“Energy strategy, liquidity support, and currency stability begin to intersect. A major producer stepping outside cartel constraints while strengthening bilateral economic links with Washington alters how global markets interpret supply signals.”

Longer-term implications are tied to the trajectory of global energy demand and the economics of production. Low-cost producers with expansion capacity face increasing pressure to accelerate output while demand remains structurally high.

Nigel Green explains: “Longer term, this reflects a strategic shift already underway.

“Producers with scale and low extraction costs are prioritising volume, aiming to monetise reserves before demand eventually plateaus. Sustained collective discipline becomes far harder to maintain and competitive pressure increases across the market.”

Markets are already responding across asset classes. Energy equities have moved higher alongside crude, while inflation expectations remain sensitive to prolonged oil strength given the direct pass-through to transport and industrial costs.

Nigel Green concludes: “Energy markets are becoming harder to read.

“Fewer shared decisions, more independent moves, and rising geopolitical pressure mean prices will likely swing more and adjust faster.”

deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of offices around the world, more than 80,000 clients, and $14bn under advisement.

Arlesheim/Schwäbisch Gmünd, 29 April 2026

Financial year 2025: Weleda achieves record turnover through investment in its brand and people; Far-reaching modernisation paves the way for further profitable growth

Total revenue rose by 6.2% (7.3% exchange rate adjusted) to a record €484.6 million (previous year: €456.2 million).
The Cosmetics business unit outperformed the market significantly, increasing revenue by 9.2% (10.2% exchange rate adjusted) effects to €401.9 million
(previous year: €367.9 million).

Nairobi, Kenya, 29 April 2026 – The German development bank KfW acting on behalf of and for the account of the Federal Republic of Germany has become the latest shareholder in the African Trade & Investment Development Insurance (ATIDI). KfW becomes the 13th Institutional shareholder in Africa's premier development insurer, further strengthening the organization's capital base and its capacity to support trade and investment across the continent.

The official signing of the subscription agreement between the two organizations is being marked on the occasion of a meeting held today in Nairobi between ATIDI's CEO and the German Federal Minister for Economic Cooperation and Development, Reem Alabali Radovan. The new shareholding underscores Germany's commitment to strengthening its economic partnership with Africa and to supporting African institutions that facilitate trade and investment across the continent.

Speaking at the signing ceremony, ATIDI CEO Manuel Moses said, “This milestone is iconic in many ways. First, it elevates our already dynamic bond with KfW and creates more opportunities for German investors looking to engage in Africa. It is also a recognition of ATIDI's earned status as Africa's top development insurer and the acknowledgement of the soundness of our business. Last, it underscores the power of partnerships in a global context increasingly marked by volatility and uncertainty. ATIDI will spare no effort to make this partnership a successful one.”

KfW invested USD 32 million to become a D2-class shareholder of ATIDI, a status dedicated to Export Credit Agencies and Non-African Public Entities. Of this amount, USD 18.4 million are funded from BMZ budget resources, with the remaining USD 13.6 million coming from KfW's own resources. As such, it will assume the obligations and benefits related to its new shareholding status, including representation in ATIDI Governance and decision-making structures and equally participating towards improving German trade and investments in Africa in alignment with the G20 Compact with Africa (CwA 2.0).

KfW's subscription in ATIDI is the culmination of a dynamic partnership between the two organizations. On behalf of the German Federal Ministry of Economic Cooperation and Development (BMZ), KfW has supported several countries' membership in ATIDI with over USD100 million financing, thus strengthening the organization's capital base and expanding its ability to mitigate risk and mobilize private investment across African markets. The new equity participation adds a direct shareholding to this long‑standing cooperation.

“Today we reconfirm our long-standing strategic partnership with ATIDI. Together, we intend to further enhance business opportunities for European and German investors in Africa to create prosperity and development for mutual benefit. Our membership is executed on behalf of the Federal Republic of Germany. It is only the latest culmination of a successful cooperation that has enabled the ATIDI membership of several African states and has created innovative insurance solutions to attract foreign investment on the continent.” Said Christiane Laibach, Member of the Executive Board, KfW.

Established in 1948, KfW is Germany's state-owned promotional and development bank and a key implementing partner of BMZ in international financial cooperation. It provides financing for projects in critical sectors including sustainability, infrastructure, renewable energy and small business growth in developing countries. Its shareholding in ATIDI is expected to stimulate up to $500 million in trade and investment between German companies and African markets.

Over the past 25 years, ATIDI has grown to become Africa's premier provider of development insurance and one of its highest rated financial organizations. It leverages its partnerships with leading multilaterals and regional bodies – including the African Union, the World Bank Group, COMESA, the European Investment Bank (EIB), the Norwegian Agency for Development Cooperation (NORAD) – to offer innovative credit and investment insurance products that foster sustainable and transformational growth across the continent.

Beyond capital, this partnership represents a powerful bridge between European financial expertise and Africa's rapidly expanding investment landscape. By combining KfW's global development finance experience with ATIDI's deep regional risk intelligence and market presence, the collaboration will help unlock new pathways for investment in strategic sectors thus supporting sustainable growth, strengthening trade corridors and enabling investors to participate more confidently in Africa's long-term economic transformation.

Notes:

About ATIDI

ATIDI was founded in 2001 by African States to cover trade and investment risks of companies doing business in Africa. The organization notably provides Political Risk, Credit Insurance and Surety Insurance. Since inception, ATIDI has supported USD93 billion worth of investments and cross border trade into Africa. It is rated A/Stable by Standard & Poor's and A2/Stable by Moody's, which reflects the organization's robust financial position and strong risk management practices. In recognition of its growing impact, ATIDI was named the Development Finance Institution (DFI) of the Year at the 2025 African Banker Awards. www.atidi.africa

About Kfw

KfW Group, founded in 1948, is the German promotional bank and one of the world's leading promotional banks. It is 80% owned by the Federal Government and 20% by the federal states.

KfW Development Bank carries out Financial Cooperation (FC) projects with developing countries and emerging economies on behalf of the German Federal Government, especially the Federal Ministry for Economic Cooperation and Development (BMZ). The experts at KfW's head office in Frankfurt am Main and more than 60 international offices cooperate with partners all over the world. The promotional financing strengthens economic perspectives, improves the infrastructure, combats poverty and hunger and protects the climate and the environment as well as peace and security – in a common interest. KfW Development Bank is a competent and strategic adviser for current development policy issues.

April 29 2026 – The Federal Reserve is going to keep US interest rates unchanged today—and in doing so, will confirm how little control it currently has over the forces shaping the global economy, affirms the CEO of one of the world's largest independent financial advisory organisations.

The analysis from deVere Group's Nigel Green comes ahead of the central bank's latest policy decision, with markets assigning a probability above 90% to a hold, even as inflation remains above target and external pressures intensify.

He says: “The Federal Reserve is expected to hold, but the reason matters. This isn't a confident pause, it's a constrained one.

“Oil above $110, geopolitical risk building, and inflation still running hot mean policymakers don't have the freedom markets would like to believe.”

Brent crude is trading around $111 a barrel, after briefly pushing toward $120. Energy prices at these levels are feeding directly into inflation expectations, complicating any path toward rate cuts.

At the same time, global oil demand remains near record levels at more than 102 million barrels per day. Supply risks tied to tensions involving Iran and potential disruption through the Strait of Hormuz, which handles roughly 20% of global oil flows, are keeping markets tightly balanced.

Nigel Green continues: “Energy is driving the inflation story again. Central banks can't drill for oil and they can't reopen shipping lanes. As such, one of the biggest inputs into inflation is outside their control, and that's a serious problem.”

The Federal Reserve's benchmark rate, currently in the 3.50%–3.75% range, remains firmly restrictive. Borrowing costs across the economy are still elevated, with US 30-year mortgage rates near 6.5% and corporate financing conditions significantly tighter than in the pre-tightening cycle.

“Keeping rates at these levels continues to squeeze growth,” notes the deVere CEO.

 “Businesses are delaying investment, consumers are feeling the pressure, and credit conditions remain tight. Holding doesn't ease that, it prolongs it.”

Markets are expected to take the decision in stride, with the focus shifting rapidly to forward guidance. Current pricing still suggests the possibility of cuts later in 2026, but that outlook is increasingly sensitive to inflation dynamics, particularly energy.

Nigel Green adds: “If oil stays above $100, the timeline for rate cuts stretches. If it moves back toward $120, the conversation changes completely.

“Markets are still pricing in easing, but that assumption is becoming harder to justify.”

Currency markets reflect this tension. The US dollar remains supported by yield differentials and relative economic resilience, while equity markets face a more uneven outlook as higher input costs and sustained borrowing pressures weigh on earnings expectations.

“Investors looking for a clear signal are unlikely to get one.

“The Fed is in a holding pattern, but the risks around it are still moving and, in some cases, accelerating.”

The deVere chief executive concludes: “Of course, the US central bank remains important, but it's no longer in full control of the narrative.

“Oil, geopolitics, and supply constraints are driving inflation from the outside.

“This means more volatility, more uncertainty, and a more complicated path for markets in the months ahead.”

deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of offices around the world, more than 80,000 clients, and $14bn under advisement.

The Secretary of CGIL, Italy's main trade union, Maurizio Landini, and the President of Confindustria, Emanuele Orsini, discuss the future of Italian industry.

On 23 April, the National Assembly of delegates from CGIL's industrial sectors—Italy's leading trade union—took place in Rome, focusing on the future of the country's production system amid an economic slowdown, ongoing industrial transitions and rising international tensions.

The central moment was the discussion between Maurizio Landini, General Secretary of CGIL, and the President of Confindustria, Emanuele Orsini, representing Italy's leading association of manufacturing and service companies. The debate highlighted a shared assessment of the critical nature of the current context, though with differing emphases on the solutions.

Energy has once again emerged as the most pressing issue for the industrial system.Costs in Italy remain above the European average, directly impacting the competitiveness of manufacturing companies—particularly in energy-intensive sectors. Both sides underscored the urgency of structural measures that can no longer be delayed.

At the macroeconomic and European level, Maurizio Landini identified the suspension of the Stability Pact as a priority, arguing for the need to free up resources for public investment in industry, innovation and employment. This position forms part of a broader critique of the lack of a coherent national industrial policy, seen as one of the factors weakening Italy's production system.

The discussion also addressed the role of the European Union, which — according to the debate — must strengthen common instruments to support industrial transition, starting with energy, technologies and strategic supply chains, in a context of increasingly intense global competition.

A further point raised by Maurizio Landini and Emanuele Orsini concerns the need for Europe to move towards the creation of new common debt, which currently remains lower than that of the United States. The strength of the euro against the dollar, in fact, places European companies at a disadvantage, to an even greater extent than tariffs.

The debate also touched on the role of Chinese industry and what was described as unfair competition towards European companies. Here too, Europe is called upon to act in order to safeguard the Continent's productive capacity.

Another key issue was investment. Italy's ability to attract capital and strengthen its production chains was identified as essential to preventing a gradual industrial decline. In this context, the need for closer coordination between national and European policies clearly emerged.

The discussion outlined a scenario of significant concern regarding the trajectory of the Italian economy, with the risk — highlighted during the debate — of a period of stagnation if adequate public and industrial measures are not implemented swiftly.

New hensec system helps airports protect aircraft against jamming and spoofing

Karlsruhe/Tegernsee – GNSS jamming and spoofing – the deliberate disruption or manipulation of satellite navigation signals – has become a serious and growing threat, particularly in civil aviation. Pilots are increasingly confronted mid-flight with unreliable GPS-based navigation systems and are often forced to take alternative measures at short notice.

As presented at AERO Friedrichshafen 2026, security specialist hensec has developed AGNOST-A, an innovative early-warning system for GNSS jamming and spoofing. The solution alerts pilots while still en route, before reaching their destination airport, if GNSS signal interference is detected in the target area.

Detected disruptions are evaluated and analysed in real time. Only when a critical threshold is exceeded is an automatic warning notice for air traffic (NOTAM) generated and transmitted via a dedicated data link channel (UAT978) across the affected region.

Aircraft equipped with compatible receiving technology can display the warning directly in the cockpit. This enables pilots to assess GNSS signal reliability in the destination area well before landing.

According to hensec, the complete electronics system is housed in a weatherproof outdoor control cabinet, allowing straightforward installation at airports and airfields. The company describes the solution as a world first.

About hensec secure solutions

hensec specialises in 360-degree security solutions for industry, business and public authorities. Guided by the principle that a chain is only as strong as its weakest link, the company focuses on integrated security concepts that combine physical security and cybersecurity in equal measure.

To achieve this, hensec relies on highly qualified specialists and state-of-the-art security technologies. The company is active across a broad range of security disciplines, including counter-surveillance, counter-drone defence, Industry 4.0, information security, critical infrastructure protection, open-source intelligence, OT security, perimeter protection, social engineering and video surveillance.

hensec reviews existing security concepts, carries out risk assessments, delivers staff qualification programmes, and develops and implements new security solutions tailored to today's threat landscape – particularly in relation to hybrid attack scenarios.

Monash Institute of Railway Technology (IRT) researchers have been recognised at the 15th Annual Heavy Haul Rail Conference with 2026 Australian Heavy Haul Rail Awards.

Monash IRT Director, Professor Ravi Ravitharan, was awarded the prestigious Lifetime Achievement Award recognising his visionary leadership and dedication, which has contributed to shaping the railway industry in Australia and overseas.

During his career spanning over 35 years, Professor Ravitharan has been a driving force behind ground-breaking research, innovation and policy development in modernised railways, setting benchmarks for excellence through technical advancements, influencing national strategies, and fostering collaborations between academia, industry and government. He has also championed workforce development, diversity and the next generation of railway professionals.

Deputy Vice-Chancellor (Research and Enterprise) and Senior Vice-President at Monash University, Professor Robyn Ward AM, said the awards highlight the talent and impact of Monash researchers.

“Through its world-leading research and strong industry partnerships, Monash’s Institute of Railway Technology is advancing safer, more efficient and more sustainable freight and passenger rail networks that underpin our economy and connectivity, while helping shape more reliable and resilient rail systems globally,” Professor Ward said.

“Congratulations to Professor Ravi Ravitharan on this Lifetime Achievement Award, recognising his significant contribution and influence in the heavy rail haul sector and beyond. I also congratulate Dr Siva Naidoo, named Emerging Leader of the Year, for his technical excellence and innovative approach to complex rail challenges.”

Dr Siva Naidoo, Team Leader of Instrumentation and Monitoring Systems at Monash IRT, was awarded the Emerging Leader of the Year Award for his exceptional leadership qualities, technical excellence, and innovative thinking in addressing complex heavy haul rail challenges.

Dean of the Faculty of Engineering, Professor Yiannis Ventikos, said the conferring of the awards highlight the strength of Monash IRT’s leadership team, and its depth in further advancing its global position in railway research and innovation.

“Australian heavy haul railways are the global benchmark for heavy haul operations. Receiving these Australian Heavy Haul Awards highlights the scale of Monash IRT’s contribution to the railway industry,” Professor Ventikos said.

“Through sustained strategic research leadership, extensive railway subject matter expertise, and long-standing industry partnerships, Monash IRT is helping Australian heavy haul railways to enhance the resilience of their critical rail infrastructure and improve their performance and safety.”

Professor Ravitharan said receiving recognition through the Awards reflected Monash IRT’s focus on delivering practical, high-impact research outcomes to its industry partners and stakeholders.

“The Institute’s translational research success is due to the collective effort of Monash IRT’s researchers and its industry partners. Heavy haul rail is critical to Australia’s economy, and advancing its safety, efficiency and sustainability requires deep collaboration between researchers and industry partners,” Professor Ravitharan said.

Monash IRT researchers Darren Tan, Data Scientist, and Sushanti Prasad Oli, Research Engineer, were also awarded Next Generation Conference Scholarships to attend the 15th Annual Heavy Haul Rail Conference, Driving the Next Era of Heavy Haul Rail. The scholarships recognise emerging talent, and support the development of the next generation of rail engineers and researchers.

About Monash Institute of Railway Technology (IRT)

Since 2000, Monash IRT has collaborated with over 170 railway organisations worldwide on more than 700 projects.

As Australia’s premier track and vehicle research centre, the Institute is internationally recognised for its expertise in railway research. Its team of experienced specialists and Rail Research Associates delivers whole-of-industry solutions, pioneering technologies such as Instrumented Revenue Vehicle systems, vehicle-track interaction research, and advanced virtual vehicle modelling to support safer, more efficient rail operations.

Monash IRT also supports federal and state government initiatives including the National Rail Action Plan, the National Rail Manufacturing Plan and the High Speed Rail initiative.

April 28 2026 – Global markets remain fixated on disruption in the Strait of Hormuz. That focus is understandable, but it risks missing a more consequential vulnerability now coming into view, warns Nigel Green, CEO of financial advisory giant deVere Group.

What he describes as the “Malacca Premium” is now capturing the rising cost of insuring, shipping, and moving energy through one of the world's most critical trade corridors.

The Strait of Malacca, a narrow waterway between Indonesia and Malaysia that channels trade past Singapore, handles over a fifth of global maritime commerce and ranks as the world's busiest chokepoint.

“The Malacca Premium is coming at us in real time. Markets are under-pricing how quickly disruption in one chokepoint can ripple through the entire system,” comments Nigel Green.

In the first half of 2025 alone, over 23 million barrels of oil per day passed through the route, supplying China, Japan, and South Korea. The volume leaves little room for disruption without global consequences.

Concern has intensified because of how quickly the narrative around Malacca changed. In the wake of disruption in Hormuz, a senior Indonesian official briefly raised the possibility of introducing transit tolls for vessels using the strait before the idea was swiftly withdrawn and regional governments reaffirmed that passage would remain open and free.

The signal, however, has already shifted market thinking.

“The fact that tolls were even mentioned tells you everything about how the risk profile is changing,” says the deVere CEO.

“This is no longer just about physical disruption. It's about political leverage and how quickly assumptions can be challenged.

“The strait operates under international rules guaranteeing transit passage, yet markets are now confronting a more uncomfortable reality: legal protections do not eliminate geopolitical risk.”

Global trade remains heavily concentrated through a handful of narrow corridors. The assumption of uninterrupted flow through these arteries has underpinned decades of efficiency gains.

“The assumption is now under strain—and the intensifying Malacca Premium reflects the cost.”

Shipping insurance, freight rates, and energy pricing are already responding to rising sensitivity. Even minor disruptions or policy signals can ripple quickly through supply chains given the density of traffic moving through the corridor.

“The market has spent years optimising for efficiency,” Nigel Green says.

“What it hasn't done is price fragility properly. The Malacca Premium is that repricing—and it's unlikely to be gradual if conditions deteriorate.”

The implications for investors are immediate. “Exposure to seamless, low-cost global logistics is becoming more fragile, while businesses with flexibility, pricing power and alternative routing capability are better positioned as risk is repriced.”

Disruption does not need to materialise at scale to move markets. The anticipation alone—through insurance costs, freight rates and energy volatility—is enough to reshape returns.

China's long-standing concern over reliance on the Malacca Strait, often referred to as the “Malacca Dilemma”, adds further weight.

As the world's largest oil importer, its exposure amplifies the global consequences of any instability in the corridor.

Nigel Green concludes: “Investors need to understand the speed at which this risk can escalate.

“The Malacca Premium is taking shape now. If this corridor comes under sustained pressure, the impact on global trade, energy markets and asset prices could be immediate and significant.

“I suspect that the Malacca Premium, which is taking shape now, is likely to become a defining force in global trade and markets.”

deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of offices around the world, more than 80,000 clients, and $14bn under advisement.

Jerusalem, 28 April 2026 – Israeli authorities have used access to water as a weapon against Palestinians, systematically depriving people in Gaza of water in a campaign of collective punishment, according to a report released by Médecins Sans Frontières/Doctors Without Borders (MSF). MSF urges the Israeli authorities to immediately restore water for people at the required levels in Gaza. Israel’s allies must use their leverage to pressure Israel to stop impeding humanitarian access, including water infrastructure needs.

The deliberate denial of water from Palestinians is an integral part of Israel’s genocide. MSF’s report, Water as a Weapon: Israel’s Destruction and Deprivation of Water and Sanitation in Gaza , documents how the Israeli authorities’ repeated weaponisation of water are not isolated acts, but part of a recurrent, systematic and cumulative pattern. It is occurring alongside the direct killing of civilians, the devastation of health facilities, and the flattening of homes forcing mass displacement. Together, they constitute a deliberate infliction of destructive and inhumane conditions on Palestinians in Gaza.

“Israeli authorities know that without water life ends, yet they have deliberately and systematically obliterated water infrastructure in Gaza, whilst consistently blocking water-related supplies from entering,” says Claire San Filippo, MSF emergency manager. “Palestinians have been injured and killed simply trying to access water,” says San Filippo. “This deprivation, combined with dire living conditions, extreme overcrowding, and a collapsed health system, create a perfect storm for the spread of diseases.”

Israel has destroyed or damaged nearly 90 per cent of water and sanitation infrastructure in Gaza, including desalination plants, boreholes, pipelines, and sewage systems. MSF teams have documented the Israeli military shooting at clearly identified water trucks, or destroying boreholes that were a lifeline for tens of thousands of people. Violent incidents have often occurred as water was being distributed to people, injuring Palestinians and aid workers, and damaging equipment.

“My grandson was in Nuseirat, in July [2025]. He went to get some drinking water,” says Hanan, a Palestinian woman in Gaza City. “He was standing in line with other kids, and they [the Israeli forces] killed him. He was 10 years old… Getting water is not supposed to be dangerous.”

The cumulative effect of the water scarcity engineered by Israeli authorities is that it simply is not possible to provide people with sufficient water. After the local authorities, MSF is the largest producer and a main distributor of drinking water in Gaza, yet between May and November 2025, one in every five of our water distributions ran dry as our trucks were unable to carry sufficient water for all the people who required it. Israeli military displacement orders have locked our teams out of areas where we had provided water to hundreds of thousands of people, leading to essential services stopping and the loss of lifesaving infrastructure.

Israeli authorities have hindered the entry of essential water and sanitation materials into Gaza. Since October 2023, electricity, fuel, and supplies like generators, their spare parts, and engine oil – critical to power water treatment and distribution – have been cut or tightly restricted. One-third of our requests to bring in critical water and sanitation supplies have been rejected or left unanswered. These supplies include water desalination units, pumps, chlorine and other chemicals to treat water, water tanks, insect repellent, and latrines. Many of the items that were approved by the Israeli authorities, were then subsequently turned away at the border.

“We need water,” says Ali, a Palestinian displaced and living in a camp in Deir Al-Balah. “It does not make sense. It’s like we are asking the world for the essentials of life.”

The consequences of this deprivation of access to water are far-reaching on people’s health, hygiene, and dignity, particularly for women and people with disabilities. Access to basic hygiene, including clean water, soap, diapers, and menstrual hygiene products, has become extremely difficult. People are forced to dig holes in the sand as toilets, which flood and contaminate the surroundings and groundwater with faeces.

The lack of access to water and hygiene, coupled with life in dire and undignified conditions like overcrowded tents and makeshift shelters, also leads to increases in diseases, including respiratory infections, skin diseases, and diarrhoeal diseases. Skin diseases comprised nearly 18 per cent of MSF general healthcare consultations in 2025, while between May and August 2025, we found that nearly 25 per cent of people had experienced gastrointestinal illness in the previous month.

Note on MSF’s activities:

MSF is the largest producer of drinking water in the Gaza Strip after local authorities. In March 2026, through gradual improvements despite the extremely restricted conditions, MSF produced or distributed over 5.3 million litres of water in Gaza each day, the equivalent of the minimum needs of over 407,000 people – one in five inhabitants of the Strip. During the month of March, MSF distributed over 100 million litres: that is 1,507 km of 20-litre jerrycans lined up, the equivalent of stretching from Riyadh to Amman, or London to Rome.

MSF is an international, medical, humanitarian organisation that delivers medical care to people in need, regardless of their origin, religion, or political affiliation.  MSF Australia was established in 1995 and is one of 24 international MSF sections committed to delivering medical humanitarian assistance to people in crisis. Every year more than 120 Australians and New Zealanders go on assignment with Médecins Sans Frontières  working as: doctors, midwives, psychologists, laboratory technicians, human resource/finance coordinators, pharmacists, mental health specialists and logisticians. MSF delivers medical care based on need alone and operates independently of government, religion or economic influence and irrespective of race, religion or gender. For more information visit msf.org.au  

April 24 2026 – The Bank of England is missing the bigger picture when it says global stock markets are set to fall, believes the CEO of one of the world's largest independent financial advisory and asset management organisations.

Nigel Green of deVere Group is speaking out after Bank of England Deputy Governor Sarah Breeden warned in a BBC interview that global equities look too high and are likely to fall because prices do not fully reflect the risks facing the global economy.

He says: “Sarah Breeden is right to say valuations are high. She is right to say investors must not be complacent. But the conclusion that markets are, therefore, set for a broad fall misses the central point, which is that AI and tech are changing the valuation framework in real time.

“We have never had AI before at this scale. There's no clean historical benchmark for what markets should pay for companies leading a once-in-a-generation productivity, infrastructure and earnings cycle.”

The warning comes as global equity markets continue to show resilience.

In the UK, the FTSE 100 remains close to record highs, trading around the 8,000 level in recent sessions, supported by strong performances in energy, financials and multinational earnings exposure.

Despite global uncertainty, the index has held firm, reflecting the strength of corporate balance sheets and overseas revenue streams.

In the US, markets have experienced some near-term volatility following a strong run, with the S&P 500 and Nasdaq easing modestly in recent sessions.

Yet the broader picture remains robust. More than 80% of companies reporting in the current earnings season have beaten expectations, underlining continued corporate resilience even in a higher-rate environment.

Nigel Green says: “Markets never move in a straight line. Valuations will always come down in some areas, others rise simultaneously.

“There'll be bouts of volatility, and some of them will feel uncomfortable. But investors should be extremely careful about interpreting a senior central bank warning as a signal to retreat from markets.

“In our view, the greater danger for long-term investors is being scared out of positions while structural growth remains intact.”

AI and tech remain the dominant forces behind current market dynamics. Companies across semiconductors, cloud computing, data centres, automation and enterprise software are seeing sustained demand driven by artificial intelligence adoption.

Capital expenditure across the sector is accelerating, with major global firms committing significant resources to expand capacity and capability.

Corporate earnings continue to reinforce this trend. Companies with credible AI exposure, strong margins and clear growth trajectories are outperforming, attracting capital and driving index-level gains.

This concentration has contributed to elevated valuations, but it also reflects where earnings growth is being generated.

“High valuations demand discipline, but high valuations do not automatically mean irrational valuations. If earnings growth, pricing power and capital investment are accelerating, a premium can be justified,” opines the deVere CEO.

“The question investors should ask is not simply whether markets look expensive compared with the past.

“The question is whether the past offers the right benchmark for AI and tech-driven earnings growth.”

He also agrees with the Bank of England that risks are real.

“Private credit markets are expanding, government debt remains elevated, and geopolitical tensions, including trade pressures under US President Trump, have the potential to create volatility and disrupt expectations.

However, Nigel Green says these risks reinforce the importance of disciplined investment rather than broad market caution.

“Investors must, of course, be judicious. They need diversification, careful asset allocation, and exposure to the sectors and companies most likely to benefit from structural growth trends. They also need to avoid complacency.

“Good advice is essential in this environment because the gap between winners and losers is widening.”

He concludes: “An unusual warning from a senior Bank of England official carries weight, but it could itself become a risk if it encourages investors to step away from markets.

“We believe investors should remain invested, remain selective, and remain focused on the forces reshaping the global economy.

“Volatility will come, valuations will adjust, but we expect that AI and tech are likely to continue to provide a powerful foundation for markets this year.”

deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of offices around the world, more than 80,000 clients, and $14bn under advisement.