In 2009, in one of the most high-profile cases, later turned into a film, a US-flagged ship, the Maersk Alabama, was hijacked by Somali pirates. The crew was eventually rescued by the US Navy. © AP Financial Times By Harry Dempsey Piracy in the waters off Somalia is no longer a threat to global shipping,

Artisanal gold miners work at one of the mining sites in Macalder on October 7, 2021 By Business Daily Africa London-listed exploration firm Shanta Gold is eyeing three additional prospecting licences from Canadian miner Barrick Gold in the West Kenya project, once the seller receives operating approvals from the government. Shanta took over Barrick’s Kenyan

Russian energy Gazprom is the largest supplier of natural gas to Europe and Turkey/Photograph: Reuters By The Associated Press Bulgaria’s interim government signaled its readiness to negotiate with Russian energy company Gazprom on the resumption of natural gas deliveries, the caretaker energy minister said Monday. Rosen Hristov didn’t set a date for talks with the

By Business Daily Africa Kenya’s partners in the East African Community bloc will have duty-free market access to the UK suspended if they condone corruption under a new trading scheme which come to force in early 2023. The post-Brexit Developing Countries Trading Scheme (DCTS), which has expanded goods which enter the UK duty-free, will also

By Anadolu Agency Chinese President Xi Jinping and Russian President Vladimir Putin will both attend the G20 summit in Indonesia, according to Indonesian President Joko Widodo, who will host this year’s gathering. “Xi Jinping will come. President Putin has also told me he will come,” Widodo said in an interview with US-based news outlet Bloomberg.

Jebel Ali Port in Dubai, United Arab Emirates/Reuters By Reuters Dubai-owned ports giant DP World reported on Thursday a record $721 million first-half profit boosted by elevated shipping rates but said it expected its profit, revenue and container growth rates to moderate in the rest of the year. The company, one of the world’s biggest

Russia’s Foreign Minister Sergei Lavrov attends a meeting with Myanmar’s military leader Min Aung Hlaing in Naypyidaw, Myanmar/Reuters By Reuters Military-ruled Myanmar plans to import Russian gasoline and fuel oil to ease supply concerns and rising prices, a junta spokesperson said, the latest developing country to do so amid a global energy crisis. The Southeast

By The Associated Press Britain’s inflation rate rose to a new 40-year high of 10.1% in July, a faster pace than in the U.S. and Europe as climbing food prices in the United Kingdom tightened a cost-of-living squeeze fueled by the soaring cost of energy. The double-digit surge in consumer prices over a year earlier

Kenya has exported miraa worth Sh1 billion to Somalia in under a month since the resumption of trade coming as a major reprieve to growers who had been hit hard when Mogadishu imposed a ban in 2019. Head of Miraa Pyrethrum and other Industrial Crops Felix Mutwiri says the country has so far exported 375

Turkish President Recep Tayyip Erdoğan speaks during the Çorum Mass Opening Ceremony held at Kadeş Barış Square, Çorum, Turkey, Aug. 13, 2022. (AA Photo) By Daily Sabah Türkey is bolstering its energy security through its exploratory missions in the Black Sea and the Mediterranean, President Recep Tayyip Erdoğan said Saturday. While Europe frets about the