The United Arab Emirates (UAE) said Tuesday it will withdraw from the Organisation of the Petroleum Exporting Countries (OPEC) and the wider OPEC+ alliance, with effect from May 1, 2026.

The South African Rand weakened across the board, trading lower against the US dollar, the Euro and the British pound, on Tuesday as gold, the country’s major export earner, came under pressure.

Johannesburg Stock Exchange (JSE) is set for a softer opening following a sluggish prior close, with Asian markets broadly lower and Tencent down 0.46%, offering a slightly negative read-through for Naspers and Prosus.