Business

Oil prices up over Saudi output cut, vaccine hopes

Oil prices rose on Monday, boosted by the start of Saudi Arabia’s production cut of 1 million barrels per day (bpd) and with positive reports on the new coronavirus vaccines. International benchmark Brent crude was trading at $55.38 per barrel at 0654 GMT for a 0.65% rise after closing the previous session at $55.02 a

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President Farmajo issues statement meeting with the international community

Photo/Somali Times The President of the Federal Republic of Somalia, Mohamed Abdullahi Farmajo, who received at the State House the Ambassadors and Representatives of the International Community based in Mogadishu, shared the Government’s commitment to holding transparent elections, in line with the Agreement reached on 17 September 2020. The Federal Parliament of Somalia. The President

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Italy blocks arms sales to Saudi Arabia, UAE

Credit/Anadolu Agency/ Italy’s Foreign Minister Luigi Di Maio. Italian foreign minister says halt was necessary to protect human rights Italy has blocked exports of arms to Saudi Arabia and the UAE, the Foreign Ministry said on Friday, following warnings by activists and lawmakers about the use of weapons in violation of human rights in Yemen.

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Kenya seeks G20 Sh32bn debt holiday extension

National Treasury building. By OTIATO GUGUYU Kenya may receive additional debt relief from the Paris Club of international creditors to help ease Covid-19 related financial distresses. The country has already received Sh32.9 billion loan repayment break which it would have paid between January and June and will make more savings if the period is extended

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UK under pressure to follow Biden’s lead with freeze on Saudi Arabia arms sales

FILE – In this Sept. 19, 2019 file photo, the an F-35 fighter jet arrives at the Vermont Air National Guard base in South Burlington, Vt. The Wisconsin Air National Guard unit based in Madison has been awarded a squadron of F-35 fighter jets. U.S. Sen. Ron Johnson said Wednesday, April 15, 2020 that the

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US puts hold on foreign arms sales, including F-35s to UAE

FILE – In this Aug. 5, 2019 photo released by the U.S. Air Force, an F-35 fighter jet pilot and crew prepare for a mission at Al-Dhafra Air Base in the United Arab Emirates. The Biden administration has put a temporary hold on several major foreign arms sales initiated by former President Donald Trump. Officials

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President Farmajo receives the UK Defense Minister at the Presidential Palace

Photo/Somali Times The President of the Federal Republic of Somalia Mohamed Abdullahi Farmajo received at the State House the Minister of Defense of the United Kingdom Ben Wallace accompanied by the British Ambassador to Somalia Ben Fender. President Farmajo shared with the Minister the successful plans of the Federal Government of Somalia in the process

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Boeing posts $8.4 billion loss on weaker demand for planes

FILE – In this Jan. 25, 2020, file photo a Boeing 777X airplane takes off on its first flight with the Olympic Mountains in the background at Paine Field in Everett, Wash. Boeing is reporting another huge loss, this one because of a setback to its 777X widebody jetliner. Boeing said Wednesday, Jan. 27, 2021,

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CAAT: UK government must halt arms sales to Egypt

Credit Associated Press John MacDougall. On the tenth anniversary of the Egyptian uprising, the Campaign Against the Arms Trade (CAAT) has called on the UK government to end arms sales and support for the Egyptian regime. In the statement, the group said it held the Egyptian military regime responsible for massacring protesters and torturing dissidents,

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Ronaldo turns down multi-million Saudi advertising deal

Portugal’s Cristiano Ronaldo reacts during the 2018 FIFA World Cup in Moscow in Russia on 20 June 2018 [Sefa Karacan/Anadolu Agency] Portuguese and Juventus striker Cristiano Ronaldo has turned down a multi-million advertising offer from the Saudi Arabia tourism authority. According to The Telegraph Sport, the football star was offered €6 million (£5.3m) annually to

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