Business

Somalia President Farmajo receives warm welcome in Addis Ababa

Photo/Somali Times Addis Ababa, The President of the Federal Republic of Somalia, HE Mohamed Abdullahi Farmajo and delegation arrived in the Ethiopian capital, Addis Ababa, as they attend the IGAD regular summit. Bole International Airport in Ethiopia was welcomed  President Farmajo and his delegation by Sahle-Work Zewde and other members. Leaders of IGAD countries are

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Somali president Farmajo travel to Ethiopia

Photo/Somali Times Mogadishu, The President of the Federal Republic of Somalia, HE Mohamed Abdullahi Farmajo and delegation have traveled to Addis Ababa, where they will attend the Intergovernmental Authority on Development (IGAD) Summit. Leaders of IGAD countries are discussing a new reform plan of the Intergovernmental Authority on Development (IGAD), on the basis that the

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Sterling touches near seven-month high against euro after YouGov poll

Pound coins are seen in this photo illustration taken in Manchester, Britain September 6, 2017. REUTERS/Phil Noble/File Photo Sterling briefly touched near seven-month highs against the euro and rose against the U.S. dollar after a poll suggested Britain’s governing Conservative Party would win a comfortable majority in the Dec. 12 election. British Prime Minister Boris

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Central Bank of Kenya rejects bailout for State in row over billions

CBK Governor Patrick Njoroge The Central Bank of Kenya (CBK) has defied an order from the Treasury for State agencies to surrender cash and Treasury bills, saying that the banking regulator is not in the business of bailing out a cash-strapped government. CBK Governor Patrick Njoroge Tuesday said it would not be coaxed to surrender

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Somali Foreign Minister meets with Saudi counterpart

Photo/Somali Times The Minister of Foreign Affairs and International Co-operation, Ahmed Issa Awad, met yesterday in Saudi Arabia with Saudi counterpart Amir Faisal Bin Farhan Bin Abdallah, in Jeddah, Saudi Arabia. They also discussed efforts to strengthen bilateral relations and joint cooperation in all areas, and ways to achieve the interests between Mogadishu and Riyadh,

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Uber loses license in London over safety, vows to appeal

London’s transit operator says it is not renewing Uber’s license to operate in the British capital. Uber’s license expires Monday Nov. 25, 2019. (AP Photo/Frank Augstein, File) London’s transit authority on Monday refused to renew Uber’s license to operate, putting the ride-hailing company’s future in the British capital in doubt. It’s the latest chapter in

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Ethiopia a title away from a terminal in Lamu port

Under construction: Lamu port will have 32 terminals, one of which will be owned by Ethiopia, which has stakes in several other ports in the region, including Doraleh, Ethiopia will own one of the terminal in Kenya’s Lamu port, and the two countries are working to speed up the issue of the title deed. “When

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UAE in weapons making push as allies restrict sales

Models of guided munitions at the Edge display during the fifth day of Dubai Air Show in Dubai, United Arab Emirates November 21, 2019. REUTERS/Christopher Pike/File Photo The United Arab Emirates (UAE) is making a push to develop high-tech military hardware that would give it control over critical defense capabilities and lessen reliance on imports.

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Somali Foreign Minister receives a copy of the credentials of Japan Ambassador to Somalia

Photo/Somali Times Mogadishu, The Minister of Foreign Affairs and International Cooperation, His Excellency Amb. Ahmed Isse Awad, received today at his office in the Ministry in the capital Mogadishu, a copy of the credentials of the new Ambassador of Japan to the Federal Republic of Somalia, Mr. Ryoichi Horie. Amb. The Minister of Foreign Affairs

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Kenya: Pension crisis as 50,000 government staff retire

The retirement of about 50,000 civil servants is burdening taxpayers after the pension bill jumped by 63.03 percent or Sh10 billion in the first four months to October as the Treasury raised the red flag over the rising expense. Treasury data shows that public pension expenses stood at Sh27.8 billion in the four months to

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