Innovations from Somalia range from the early adoption of the Hawala system to global money transfer companies of Somali origin including World Remit and Dahabshill. Quartz News By Tom Collins Somalia’s money transfer market is one of the most developed in the world, characterized by a large diaspora sending billions of dollars home in remittances

By Petroleum Economist The country might seem like an unlikely destination for oil and gas investors, but the recent award of seven offshore blocks to US independent Coastline Exploration demonstrates how it is working to revive its upstream sector. Somalia is one of the last major unexplored petroleum frontiers. In the past, it attracted the

The two front-runners in the race to succeed President Uhuru Kenyatta in the August election, Deputy President William Ruto (right) and Opposition Leader Raila Odinga By Business Daily Africa President Uhuru Kenyatta’s successor will require an average of Sh3.74 billion daily to repay the country’s mounting debts, underlining the heavy debt burden the new government

TB2 drone of Turkish drone-maker Baykar is seen at a stand during the first day of SAHA EXPO Defence & Aerospace Exhibition in Istanbul, Turkey, November 10, 2021. Reuters/Umit Bektas/File Photo By Reuters Ukraine received almost 30 times as much defence industry equipment from Turkey in first quarter as it did a year earlier, while

US Treasury Secretary Janet Yellen. Photo/ AFP By Business Daily Africa The US government has revealed that emergency loans from the International Monetary Fund (IMF) cushioned Kenya’s economy from near collapse amid protests from Kenyans over the mounting public debt. US Treasury Secretary Janet Yellen asked the US Congress to continue providing support to the

A merchant counts Turkish lira banknotes at the Grand Bazaar in Istanbul, Turkey, March 29, 2019: Credit to Photo Reuters By The Associated Press Yearly inflation in Turkey hit 61.14% on Monday, climbing to a new 20-year high and deepening a cost of living crisis for many households. The Turkish Statistical Institute said consumer prices

Cars intended for export wait at the port for loading, as the spread of the coronavirus disease (COVID-19) continues in Bremerhaven, Germany, April 24, 2020. REUTERS/Fabian Bimmer By Reuters German exports and imports jumped more than expected in February, the Federal Statistics Office said on Monday, with the effects of the war in Ukraine yet

A U.S. Army Terminal High Altitude Area Defense (THAAD) weapon system is seen on Andersen Air Force Base, Guam, October 26, 2017. U.S. Army/Capt. Adan Cazarez/Handout via Reuters. By Reuters Berlin is considering buying a missile defence system from Israel or the United States to defend against threats including Russian Iskander missiles in Kaliningrad, German

Britain’s Home Secretary Priti Patel speaks at a Coronavirus disease related news conference at Downing Street: Credit to Photo Reuters The Guardian By Rob Davies Profits at a PPE company that secured support from the home secretary, Priti Patel, as it lobbied ministers for UK government contracts have soared after it won £216m in taxpayer-funded

File – Britain’s Chancellor of the Exchequer Rishi Sunak holds a press conference in the Downing Street briefing room, London, Thursday Feb. 3, 2022. People across the United Kingdom will face tough choices in coming months as energy costs for millions of households are set to rise by 54% on Friday. It’s the second big