Business

Eritrea Foreign Minister Arrives in Somali Capital

The Minister of foreign affairs of Eritrea, Osman Saleh Mohammed and his accompanying delegation which included the presidential adviser, Mr. Yemane Gabreab arrived in Mogadishu today and were welcomed upon arrival at Aden Adde International Airport by Minister of Foreign Affairs and International Cooperation, Ahmed Isse Awad. The Eritrean Minister of Foreign Affairs, Osman Saleh

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Uganda: Public debt rises to Shs44 trillion

Public debt has increased to Shs44.67 trillion, according to details contained in a Finance Ministry report. The increase represents a 22 per cent surge for the financial year ended June 2017/18 up from Shs36.7 trillion in the 2016/17 financial year. According to data contained in the Ministry of Finance reports and consolidated financial statements, the

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Djibouti ordered to pay $385 million to DP World

Djibouti was on Thursday dealt a heavy legal blow when a London-based international court ordered the Horn of Africa nation to pay $385 million in compensation to UAE global ports operator DP World over a breach of contract, according to the Dubai government. The London Court of International Arbitration also ordered the African nation to

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Turkey’s exports with $44.5B hit all-time high in Q1

Turkey’s exports hit highest-ever January-March figure with $44.5 billion, the country’s trade minister announced Thursday. According to the general trade system, Ruhsar Pekcan said exports in the first quarter of 2019 surged 3.34 percent year-on-year. Over the same period, Turkey’s imports amounted to $50.5 billion with an annual decline of 21.46 percent. In the three-month

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NATO chief says Brazil, other Latin American countries could become ‘partners’

NATO Secretary General Jens Stoltenberg addresses a joint meeting of the U.S. Congress as Vice President Mike Pence and Speaker of the House Nancy Pelosi listen in the House Chamber on Capitol Hill in Washington, U.S., April 3, 2019. REUTERS/Carlos Barria NATO can look at the possibility of other Latin American states joining Colombia in

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Blow as more firms to ditch Kenya for Addis Ababa

Several manufacturing companies are set to relocate from Kenya to Ethiopia in protest of the high cost of electricity, it has emerged. This, even as the Government insists that it is working on a plan to bring down the cost of power, which has made locally made products to be less competitive. One of the

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May to meet UK opposition leader for Brexit compromise talks

In this grab taken from video, Britain’s Prime Minister Theresa May speaks during Prime Minister’s Questions in the House of Commons, London, Wednesday April 3, 2019. With Britain racing toward a chaotic exit from the European Union within days, May veered away from the cliff-edge Tuesday, saying she would seek another Brexit delay and hold

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Investing in resilience in Somaliland

On 1 April 2019, the European Union and the Government of Somaliland organised a workshop on “Investing in resilience in Somaliland”. The event gathered government institutions, donor partners, district commissioners, civil society organisations and other key stakeholders. Participants discussed the challenges generated by recurrent droughts and measures to strengthen the resilience of households, communities and

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Kenya: Debt hits Sh5.4trn as Treasury takes Sh2bn loans daily

The Treasury borrowed an average of Sh2.1 billion every day, racking up Sh126.4 billion in loans between January and February and raising Kenya’s total debt load to Sh5.4 trillion. Latest debt data published by the Central Bank of Kenya (CBK) shows that domestic debt rose by Sh142.6 billion to Sh2.692 trillion in the period, while

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Kenya: How Chinese firm walked away with Sh1.4b without breaking a sweat

A Geothermal development Company steam well in Menengai, Nakuru County. In yet another brazen act of disdain for the Kenyan taxpayer, a foreign contractor has pocketed Sh1.4 billion advance payment and left a parastatal in the energy sector high and dry, gasping for breath. It is a familiar story; contractor plucked from faraway lands, signs

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