Traders at the Muthurwa market in Nairobi counting money on March 19, 2020 after the day’s sale By PAUL WAFULA The Kenyan shilling has taken a major hit from the coronavirus pandemic. In Thursday’s trading, it exchanged at a record low of Sh109.3 against the dollar, sliding past the worst record of October 2011. A

Oil tanker at a port [REUTERS/Stringer/File Photo] The United States believes Saudi Arabia’s flooding of oil markets compounds the coronavirus-caused global economic crash and intends to send a senior official to Riyadh for months to boost efforts to stabilize energy markets, senior US officials said on Friday, reports Reuters. The Energy Department official will work

This Jan. 31, 2020 file photo shows a sign for Wall Street in New York. Stock markets were largely subdued Thursday, March 19, after days of massive volatility, as investors digested new financial support measures, including the European Central Bank’s promise to funnel 750 billion euros ($817 billion) into financial markets. (AP Photo/Mark Lennihan, File)

Photo/Somali Times Why they closed Aran Jaan and puppet Said Deni Bosaso port? Bosaso port was closed for a month, and the fishing and fishing vessels were shut down, but Puntland authorities has spoken out. The Minister of Fisheries, Commerce and Ports, who held a press conference in Garowe on Sunday, falsely dismissed reports that

Mohammed Bin Zayed Bin Sultan Al-Nahyan, the crown prince of Abu-Dhabi on 30 November 2018 [En.kremlin.ru] The authorities in Abu Dhabi, the capital of the UAE, are searching for urgent solutions to save the economy from collapse due to the devastating effects of the coronavirus pandemic locally and around the world. The losses incurred by

Photo/Somali Times The opening of the newly built Barawe Airport has been greeted with sharp criticism as Somalis online question the quality of the work, noting the $5 million project did not match the output. According to the Corrupt,Villa Somalia government the construction of the airport cost $ 5 million, but pictures showing a dusty

The Turkish lira extended losses on Thursday, slumping to its lowest level in regular trading since September 2018, as public concern intensified about the potential spread of the coronavirus. The lira dropped 1.4 percent to 6.29 per dollar at 6:14 p.m. in Istanbul. The main BIST-100 index of shares dropped 7.2 percent to 93,713 points.

Trader Michael Gallucci works at his post on the floor of the New York Stock Exchange, Wednesday, March 11, 2020. Stocks are closing sharply lower on Wall Street, erasing more than 1,400 points from the Dow industrials, as investors wait for a more aggressive response from the U.S. government to economic fallout from the coronavirus.

Photo/Somali Times Somalia is dominated by the corruption of every ministry and ministers The resultant political fragility is both a root cause and effect of corruption, which cripples economic development and leaves little room. As one of the world’s leading and longest examples of a failed state, Somalia faces many of the major corruption challenges

According to Somaliland standard. The government of Ethiopia eventually halted the plan of Berbera port development this week. The report comes after completing a formal process of acquiring land in Sudan to develop its own port. Specifically, sources report that Ethiopian Finance minister said, Mr Ahmed Shide an announced visit to Hargeisa, Somaliland capital and