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The companies making billions from the Iran war

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As households across the globe count the costs of the US-Israel war in Iran, some companies have been counting bumper profits instead.

The uncertainty sparked by the conflict, and Iran’s effective closure of the Strait of Hormuz, is driving up the cost of living and hitting the budgets of firms, families and governments.

But while some have been pushed to the brink, others, whose core businesses are more profitable in a war or who benefit from volatile energy prices, have seen record earnings.

Here are some of the sectors and companies making billions while the Middle East conflict continues.

 

1. Oil and gas

The biggest economic impact of the war so far has been a surge in energy prices. Around a fifth of the world’s oil and gas is transported through the Strait of Hormuz, but those shipments effectively ground to a halt at the end of February.

The result has been a rollercoaster of price movements on energy markets, with some of the world’s biggest oil and gas companies benefiting.

The main beneficiaries have been European oil giants, who have trading arms so have been able to gain from sharp price movements boosting profits.

BP’s profits more than doubled to $3.2bn (£2.4bn) for the first three months of the year, after what it called an “exceptional” performance in its trading division.

Shell also beat analysts’ expectations when it reported a rise in first-quarter profits to $6.92bn.

Another international giant, TotalEnergies, saw its profits jump by almost a third, to $5.4bn in the first quarter of 2026, driven by volatility in oil and energy markets.

US giants ExxonMobil and Chevron saw their earnings fall compared with the same period last year, due to supply disruption from the Middle East, but both beat analysts’ forecasts and expect their profits to grow further as the year goes on, with the price of oil still significantly higher than when the war broke out.

2. Big banks

Some of the biggest banks have also seen their profits boosted during the war in Iran.

JP Morgan’s trading arm made a record $11.6bn of revenue in the first three months of 2026, helping the bank overall to its second biggest ever quarterly profit.

Across the rest of the “Big Six” banks – which includes Bank of America, Morgan Stanley, Citigroup, Goldman Sachs and Wells Fargo, as well as JP Morgan – profits all rose substantially in the first quarter of the year.

Overall, the banks reported $47.7bn in profits for the first three months of 2026.

“Heavy trading volumes have benefited investment banks, in particular Morgan Stanley and Goldman Sachs,” Susannah Streeter, chief investment strategist at Wealth Club, said.

The major Wall Street lenders have been boosted by a surge in demand for trading, with investors rushing to drop riskier stocks and bonds and pile their cash into assets that are seen as safer. Trading volumes have also been lifted by investors seeking to capitalise on the volatility in financial markets.

Streeter added: “The volatility unleashed by the war has led to a surge in trading, as some investors sold stocks on fears of escalation, while others bought the dip, helping to fuel a recovery rally.”

3. Defence

One of the most immediate beneficiaries in any conflict is the defence sector, according to Emily Sawicz, senior analyst at RSM UK.

“The conflict has reinforced gaps in air defence capability, accelerating investment in missile defence, counter drone systems and military hardware across Europe and the US,” she told the BBC.

As well as highlighting the importance of defence firms, the war creates a need for governments to replenish weapons stocks, boosting demand.

BAE Systems, which makes products including F35 fighter jet components, said in a trading update on Thursday it expects strong growth in sales and profits this year.

It cited growing “security threats” around the world pushing up government defence spending, which has in turn created a “supportive backdrop” for the company.

Lockheed Martin, Boeing and Northrop Grumman, three of the world’s biggest defence contractors, have each reported having record order backlogs at the end of the first quarter of 2026.

But shares in defence firms, which have risen sharply in recent years, have fallen back since mid-March, amid fears the sector is over-valued.

4. Renewables

The conflict has also highlighted the need to diversify away from reliance on fossil fuels, Streeter said.

This has “supercharged interest in the renewable sector” even in the US, she said, where the Trump administration has popularised the “drill, baby, drill” slogan encouraging greater fossil fuel usage.

Streeter said the war has led to renewable investment being seen as increasingly important to stability and resilience to shocks.

One firm that has been boosted is Florida-based NextEra Energy, which has seen shares surge by 17% so far this year as investors pile in on its mission.

Danish wind power giants Vestas and Orsted have also reported surging profits, highlighting how the fallout from the Iran war is also boosting renewable energy firms.

In the UK, Octopus Energy recently told the BBC the war had caused a “huge jolt” in solar panel and heat pump sales, with solar panel sales rising by 50% since the end of February.

The surge in petrol prices has also boosted demand for electric vehicles, with Chinese manufacturers in particular making the most of the opportunity-STAR.

 

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National Assembly dismisses claims Sacco Bill is being rushed through Parliament

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The National Assembly has dismissed reports that the Sacco Societies (Amendment) Bill, 2025, is being rushed through Parliament, saying the proposed law is still undergoing public participation.

Through infographics shared on Facebook on Tuesday, July 14, 2026, Parliament said misleading information had been circulating online about the Bill, formally known as the Sacco Societies (Amendment) Bill, National Assembly Bill No. 32 of 2025.

Bill was published in June 2025

The National Assembly said the Bill was published on June 30, 2025, and had remained under consideration for more than 12 months.

It rejected suggestions that lawmakers were fast-tracking the proposed amendments without allowing enough time for scrutiny.

According to Parliament, the lengthy period between the publication of the Bill and its current consideration shows that it is not being rushed.

Bill currently before the National Assembly committee

The Sacco Societies Amendment Bill is currently before the National Assembly’s Departmental Committee on Trade, Industry and Cooperatives.

The committee is conducting public participation and receiving views from members of the public and other stakeholders.

The submissions are expected to help the committee assess the proposed amendments before presenting its recommendations to the National Assembly.

What happens after public participation?

After the public participation process is concluded, the committee will prepare a report containing its findings and recommendations.

Parliament said the views submitted by members of the public and stakeholders could inform further amendments to the Bill.

The proposed legislation will then proceed to the National Assembly for consideration by MPs.

This means the Bill has not yet completed the legislative process and could still be amended based on the submissions received during public participation.

Bill will be forwarded to Senate

The National Assembly also clarified that the Bill will not proceed directly for presidential assent after being passed by MPs.

Because the proposed legislation concerns county governments, it will be forwarded to the Senate for consideration in accordance with the Constitution.

The Senate will be required to consider the Bill before it can complete the parliamentary process and be presented for presidential assent.

Parliament urged members of the public to rely on verified information about the Sacco Societies Amendment Bill instead of unconfirmed reports circulating online-PeopleDaily.Digital.

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Digital house-hunting platform bets on technology to reshape Nairobi’s rental market

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NAIROBI, Kenya, July 14 – A growing shift towards digital property searches is changing how Kenyans find rental homes, with real estate technology platform Reemio positioning itself as a solution to longstanding challenges.

This included fraudulent listings, costly house searches and limited market transparency.

As younger, tech-savvy consumers turn to online platforms to make purchasing decisions, the company says digitizing the rental process could improve efficiency for both tenants and landlords while lowering transaction costs.

“Our niche is to solve the problem of house hunting and also bring trust into that process. We use technology to connect renters and landlords,” said Kimani.

Kimani said the platform seeks to address inefficiencies that have traditionally made house hunting expensive and time-consuming.

Instead of physically visiting multiple properties, users can browse verified listings, take virtual tours, compare amenities and access information on additional costs such as water charges, electricity bills and service fees before scheduling physical viewings.

Beyond improving convenience for tenants, Reemio argues that technology can help landlords reduce marketing costs, shorten vacancy periods and reach a wider pool of prospective tenants, including Kenyans living abroad.

The company says its platform also generates market data that can help property owners and developers better understand evolving consumer preferences, although its long-term impact will depend on wider adoption of digital property platforms and continued investment in trustworthy online real estate marketplaces-Capitalfm.co.ke.

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ORPP edges two parties closer to joining Kenya’s political arena

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The Office of the Registrar of Political Parties (ORPP) has issued a notice for the provisional registration of two proposed political parties, opening a seven-day window for members of the public to lodge objections.

In a notice published by the Registrar of Political Parties and Chief Executive Officer J.C. Lorionokou, the ORPP announced that the Social Democratic Party of Kenya (SDP) and the People’s Alternative Voice (PAV) are in the process of being provisionally registered under Section 5(2)(a) of the Political Parties Act.

The ORPP, a State office established under Section 33 of the Political Parties Act and Article 260 of the Constitution, said its mandate includes registering and regulating political parties as well as administering the Political Parties Fund.

According to the notice, the Social Democratic Party of Kenya (SDP) has adopted pink, white and sky blue as its official party colours, with the slogan “Change – Mageuzi.” The party’s symbol is the acronym SDP enclosed inside a circle.

The party’s listed founder members are Nyangong’ Duncan Nyumbah, Omwandasi Jared Dishon and Kinyua Mary Wacuka.

The founders of PAV are listed as Odenyo John Fitzgerald Elly, Nyando Rachel Mmboga and Ali Hussein Kiplangat.

The Registrar said particulars of the two proposed political parties have been published on the ORPP website to facilitate public scrutiny as required by law.

Any person wishing to oppose the provisional registration of either party has seven days from the date of publication of the notice to submit objections either in writing or in person to the Office of the Registrar of Political Parties at Lion Place, Fourth Floor, Waiyaki Way at Karuna Close, Nairobi.

The provisional registration marks the first step in the legal process of establishing a political party in Kenya.

Kenya has 91 fully registered political parties. The ORPP’s updated register indicates that, as of January 2026, there were 91 parties that had met the legal requirements for full registration under the Political Parties Act-STAR.

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