Business

Shell, Exxon on road to Somalia re-entry

A Shell logo sits on a sign at a gas station, operated by Royal Dutch Shell Plc., in Rotterdam, Netherlands, on Wednesday, July 25, 2018. Shell is scheduled to release earnings figures on July 26. Photographer: Jasper Juinen/Bloomberg By Ed Reed Somalia has reached an “initial roadmap” with a Shell and ExxonMobil joint venture on

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Who will win the 2021 general election in Somalia?

Photo/Somali Times/ Dahir Gelle candidate president in Somalia 2021. Dahir Gelle candidate president in Somalia 2021. According to Wikipedia. Ambassador Dahir Mohamud Gelle (Somali: Daahir Maxamuud Geele, Arabic: is a Somali diplomat and politician. Ambassador Dahir was born in Mogadishu in 1966. Having completed his primary and secondary education in Mogadishu, Dahir earned a Bachelors

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Coronavirus spreads in three continents; $5 trillion wiped off markets

Employees work on a medical supply production line at a factory in Huaian, Jiangsu province, China February 28, 2020. China Daily via REUTERS Countries on three continents reported their first cases of the coronavirus on Friday as the world prepared for a pandemic and investors dumped equities in expectation of a global recession. Coronavirus panic

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Top 10 African Countries to Invest in 2020

Nigeria African countries are becoming more strategic in creating healthy business environments and chasing investments Stakeholders attribute the success of viable economies to high foreign investments – which is only possible through creating enabling business environments. Africa’s unhealthy dependency on its natural resources has been criticized and continues to have a double effect on its

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Oil prices hit 14-month low with coronavirus fears

Brent oil price hits lowest level since Dec. 28, 2018 Crude oil prices fell to their lowest levels in 14 months on Thursday as coronavirus fears continue to breed low global oil demand and a downward pressure on prices. Brent crude was trading at $51.91 per barrel at 0655 GMT on Thursday for a 1.74%

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Stocks sink, bonds soar on fears virus will stunt economy

In this Feb. 24, 2020, file photo specialist Erica Fredrickson works with a colleague on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Tuesday, Feb. 25. (AP Photo/Richard Drew, File) Stocks slumped again on Wall Street Tuesday, piling on losses a day after the market’s

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Forex deposits drop after demonetisation

CBK governor Patrick Njoroge Foreign currency deposits held by commercial banks declined by Sh12.9 billion last November, the second month after Central Bank of Kenya’s (CBK) demonetisation drive ended. CBK data shows that the deposits fell in November to Sh612.5 billion compared to the previous month when it had reached the year’s peak of Sh625.4

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Turkey sets up mechanism to explore oil, gas and mining opportunities in Somalia

The Turkish government is moving to exploit oil, gas and mining prospects in Somalia by establishing a mechanism that will allow both private and state-owned companies to explore energy opportunities in the country, which is strategically located in the Horn of Africa. A memorandum of understanding (MoU) between Turkey and Somalia on comprehensive energy and

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Blue Brexit passports to be issued from next month

© Provided by The Guardian Priti Patel with the new ‘iconic’ new design. Photograph: Home Office/PA By Henry McDonald Blue passports will be issued for the first time in almost three decades from next month to mark Britain’s departure from the EU, the government has announced. They will replace the standard-issue burgundy passports that were

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Africa’s Top 10 Universities 2020

University A. Bartlett Giamatti, an American professor of English Renaissance Literature once said, “Universities are not here to be mediums for the coercion of other people; they’re here to be mediums for the free exchange of ideas.” Many university rankings in the world today focus on factors unrelated to academic merit. Thus, some rankings of

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