Photo/Somali Times The Somali government’s Ministry of Defense has received a large number of military vehicles from the British government, one of the main donors in Somalia. The handover ceremony in the capital Mogadishu was also attended by members of the British contingent, the commander of the 60th Division of the Somali National Army and

Central Bank of UAE [Achilver/wikipedia] The government of Dubai has sold $2 billion in Islamic and conventional bonds, in its first sale to international debt markets in six years. The sale included $1 billion in ten-year sukuk, or Islamic bonds, and $1 billion in 30-year conventional bonds, Reuters reported. The coronavirus pandemic has affected all

Photo/Somali Times The establishment of the Somali Petroleum Authority and launch of a licensing round may be undermined if the replacement of the ousted prime minister is not seen as legitimate Somalia has passed several key milestones on the long journey to establish a hydrocarbons industry. But maintaining legitimacy of the process in a fragmented

FILE – In this Aug. 3, 2020, file photo dark clouds and heavy rain sweep over the U.S. Capitol in Washington. The federal budget deficit is projected to hit a record $3.3 trillion as huge government expenditures to fight the coronavirus and to prop up the economy have added more than $2 trillion to the

The volume of shares held by foreign investors at the Nairobi Securities Exchange (NSE) has dropped in the past one year following sustained selling by the investors in a bear market. Data from the Capital Markets Authority (CMA) shows that foreign investors held 18 percent of the issued shares at the Nairobi bourse by the

Photo: Credit Reuters/Tyrone Siu/A Chinese national flag flies in front of HSBC headquarters in Hong Kong U.S. Secretary of State Mike Pompeo on Wednesday renewed criticism of British Bank HSBC for its reported treatment of customers linked with the pro-democracy movement in Hong Kong, saying China was “bullying” the United Kingdom. Pompeo cited unverified reports

The Kenya Revenue Authority (KRA) detectives have identified 1,309 firms and wealthy individuals that owe it Sh259 billion, setting the stage for travel bans, asset freeze and deactivation of Personal Identification Numbers (PINs). KRA Commissioner General Githii Mburu did not disclose the names but warned the agency is probing the tax evaders further to determine

Vehicles sent by National Defense Ministry as part of military and financial cooperation agreements Turkey has delivered 12 off-road vehicles to Somalia as part of bilateral military and financial cooperation agreements, the National Defense Ministry said on Monday. In a statement, it said the vehicles, which are meant for use over rough terrain, were supplied

Palestine, Azerbaijan and Ukraine congratulated Turkey on Saturday for its discovery of major natural gas reserves in the Black Sea, Anadolu Agency reports. Palestine’s President Mahmoud Abbas congratulated Turkish President Recep Tayyip Erdogan in a phone call, Turkey’s Communications Directorate said in a statement. He hailed Turkey’s success as Palestine’s success, while Erdogan reiterated Ankara’s

Turkey’s President Recep Tayyip Erdogan speaks with Turkish drilling ship, Fatih, in background, in Istanbul, Friday, Aug. 21, 2020. Erdogan has announced the discovery of a large natural gas reserves off the Black Sea coast, days after he promised “good news” that would usher in a “new era” for the energy dependent country.(Turkish Presidency via