Business

Somalia: President Farmajo meets with UN Security Council arms embargo

Photo/Somali Times The President of the Federal Republic of Somalia, Mohamed Abdullahi Farmajo, who met with the United Nations Security Council in Somalia, shared information on the areas liberated by Somali Army, the plan was to reform the Somali National Army and fight to eliminate. Al-shabaab extremist ideology.’  The President proposed to the UN Security

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Iraqi president meets Trump in Davos, discuss foreign troops cut: Iraqi statement

Photo Credit Reuters Iraqi President Barham Salih met U.S. President Donald Trump in Davos Iraqi President Barham Salih met U.S. President Donald Trump in Davos on Wednesday and discussed reducing foreign troops in the country, the Iraqi presidency said, after Washington spurned an Iraqi request earlier this month to pull out its troops. “During the

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Somalia says oil tenders open to all following Erdoğan’s expression of interest

Somalia’s offering of offshore oil exploration tenders will be open to all, the country’s Petroleum and Mineral Resources minister said on Tuesday, a day after Ankara announced its eagerness to participate in exploration in the region. While Somalia enjoys good relations with Turkey, the country’s oil operations will be transparent and without favoritism toward any

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Kenya risks debt distress over high interest rates: IMF

Kenya uses nearly half of its tax collection to service interest on loans, the International Monetary Fund (IMF) has said in a review Kenya uses nearly half of its tax collection to service interest on loans, the International Monetary Fund (IMF) has said in a review, warning that the situation is synonymous with countries at

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Erdogan says Somalia has invited Turkey to explore for oil in its seas: NTV

Turkish President Tayyip Erdogan said on Monday that Somalia had invited Turkey to explore for oil in its seas, after Ankara signed a maritime agreement with Libya last year, broadcaster NTV reported. Turkey has been a major source of aid to Somalia following a famine in 2011 as Ankara seeks to increase its influence in

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As Brexit nears, UK’s Johnson pushes for deeper trade ties with Africa

Prime Minister Boris Johnson called for deeper investment ties between Britain and Africa at a summit for leaders of 21 African countries on Monday that comes days before his country will leave the European Union. After securing Britain’s departure from the EU, the world’s largest trading bloc, on Jan. 31, Johnson is keen to develop

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Prime Minister Khaire suspended $ 112 million agreement signed Minister of Finance and Mogadishu mayor to build cities

Photo/ Somali Times The Somali Prime Minister does not get along with the regional State however, this is the main reason Prime Minister cancels sources from Somali officials Mogadishu-The Prime Minister of the Federal Government of Somalia Hassan Khaire has suspended a $ 112 million agreement to build cities in the country, signed today by

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Djibouti rejects court ruling over Doraleh terminal

Doraleh: DP World, which built the port and ran it for more than a decade from 2006, estimates its losses at more than $1bn. By David Osler The government of Djibouti says it will not accept a London Court of International Arbitration ruling that it should restore the Doraleh Container Terminal concession to DP World,

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Kenya seeking a near $1 billion loan from World Bank

Kenya is in advanced talks with the World Bank for “a fairly priced” loan of up to 100 billion shillings ($991.57 million), nearly half of its required external funding this fiscal year, a senior Treasury official said on Friday. The East African nation wants to cut debt from overseas capital markets, after a borrowing binge

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Kenya’s early oil pilot scheme suspended due to poor roads

A worker walks at a Tullow Oil explorational drilling site in Lokichar, Turkana County, Kenya, February 8, 2018. REUTERS/Baz Ratner Kenya’s Tullow Oil has halted its early oil pilot scheme citing poor road network in Turkana due to floods and is set to resume operations after roads are repaired. In its trading and statement and

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