The Somali petroleum ministry has for the first time formed a seven-member executive committee representing the federal government, regional governments and the Benadir region. The committee, announced by the Somali Petroleum Authority (SPA), is tasked with boosting the oil and gas industry. They will also ensure that the financial development laws enacted, the principles of

Techno Brain offices in Hurlingham, Nairobi. The World Bank has banned Kenyan IT firm, Techno Brain (Kenya) Limited and its United Arab Emirates(UAE)-based parent company Techno Brain Global FZ-LLC for fraud in an Integrated Public Financial Management Reform Project in Liberia. The Kenyan unit will remain banned from World Bank supported projects for 28 months

The Crown Prince of Abu Dhabi, Sheikh Mohammed bin Zayed, received a phone call Monday from the Israeli prime minister, their first contact since the United Arab Emirates (UAE) and Israel announced a deal in August to normalize their relations. “During a phone call with Israeli Prime Minister Benjamin Netanyahu, we discussed strengthening bilateral ties

Saudi Prince Abdulrahman Bin Musa’ad has called for boycotting Turkish imports after Turkish President Erdogan announced that his country’s army in Qatar helps stabilise security in the Gulf states. According to The New Khalij, the prince retweeted Erdogan’s remarks and wrote: “Therefore, I call for a full popular boycott for the Turkish products in order

Photo: Credit Reuters By Lawrence White LONDON (Reuters) – Does a cancelled gym membership spell financial disaster? That is the type of question British banks are asking as they try to work out whether borrowers owing some 75 billion pounds ($96 billion) in home loans will be good for it when a payment holiday, introduced

Kenya’s coffee risks losing its top spot in the world market following its rejection in Japan and South Korea due to high levels of chemical contamination. The chemical levels of Ochratoxin have exceeded the allowable minimum, resulting in rejection at the two countries’ border points. The coffee, which is highly sought after by roasters for

Photo: Credit Pinterest Saudi Arabia’s total production of gold increased 158 per cent to 12,353 kilogrammes in 2019 compared to the 4,789 kilogrammes recorded in 2014, a new report revealed. According to the publication, the kingdom has also increased its total production of silver, reaching 5,588 kilogrammes in 2019 compared to 4,800 kilogrammes in 2014.

Turkish President Recep Tayyip Erdogan received Libyan Prime Minister Fayez al-Sarraj in Istanbul on Sunday. The closed-door meeting at Vahdettin Mansion, which began at 7.00 p.m. local time (1600 GMT), lasted nearly an hour. Later, the two sides’ delegations also met for an hour and 30 minutes. During the meeting, Erdogan said Turkey would continue

Photo: Credit /Business Daily Africa/Weston Hotel in Nairobi. Deputy President William Ruto has linked the court bid to demolish Weston Hotel to the 2022 Presidential Elections where he is fighting to replace President Uhuru Kenyatta. The hotel has filed fresh court papers arguing that the suit is a conspiracy between the Kenya Civil Aviation Authority

President Uhuru Kenyatta and French President Emmanuel Macron witness the signing of three bilateral agreements at Elysee Palace on October 1, 2020. Kenya has signed loan agreements worth Sh17.91 billion with France and the European Union (EU) as President Uhuru Kenyatta wraps up his State visit to that country. The parties signed four financing agreements