The value of imported cars in the first quarter of 2020 increased by 16.86 percent, new data shows. The report by Kenya National Bureau of Statistics shows Sh22.24 billion vehicles were imported in the first three months of the year compared to Sh19.04 billion in the corresponding period in 2019. The units numbered 23,630 compared

Decline in oil rig count suggests that crude oil production in US will decrease in short term Crude oil prices were up on Monday based on expectations that oversupply would be trimmed on the global market with a decline in US crude output because the number of US oil rigs hit the lowest level since

Meeting of duo lasts 3 hours in Pearl Palace After arriving in the capital Doha city of Qatar on Thursday afternoon, the Turkish president and the Qatari emir held a meeting at the Pearl Palace to discuss “mutual relations between the two friendly and brotherly countries.” The meeting of Recep Tayyip Erdogan and Sheikh Tamim

Photo: WorldRemit WorldRemit, the global online money transfer service provider, has announced the launch of its remittance services in Somalia. According to the World Bank, every year an estimated USD 1.4 billion in remittances is sent to Somalia by approx. 2 million Somalis in the diaspora. The remittances contribute to 23% of Somalia’s GDP which

By DANICA KIRKA A British judge on Thursday refused to give Venezuela control of over $1 billion in gold sitting in a Bank of England vault, ruling that it is unlawful to give it to the President Nicolás Maduro since Britain does not recognize him as the president. Maduro has demanded the gold to help

Oil tankers seen at the Al-Basra Oil Terminal in Iraq [Samuel W. Shavers/Wikipedia] Iraq’s oil exports fell by 11 per cent in June, compared with the previous month, due to the country’s commitment to the OPEC+ agreement to reduce production. The Iraqi Ministry of Oil announced on Wednesday that it exported 2.8 million barrels per

UK and Turkey are very keen to ensure smooth transition by putting FTA in place in 2020, says Britain’s consul general The UK’s exit from the EU will not affect its appreciation of Turkey’s strategic value, and the two sides’ relations will continue, said Britain’s consul general in Istanbul. “Our strategic bilateral relationship with Turkey

Taiwan will establish a representative office in the breakaway African region of Somaliland, Foreign Minister Joseph Wu said on Wednesday, amid an escalating diplomatic tug-of-war between Taipei and Beijing. Taiwan has signed an agreement with Somaliland to “establish good relations” and that the two countries “share a deep-seated love of freedom & democracy,” Wu wrote

The US will continue to depend on Turkish manufacturing for key parts of F-35 fighter jets through 2022, Bloomberg reported Tuesday, citing a Pentagon official. Although Turkey is still banned from buying F-35s after purchasing Russia’s S-400 air defense system, Lieutenant Colonel Mike Andrews, a Defense Department spokesman, said a decision was made in late

The World Bank Board of Directors today approved a $55 million International Development Assistance (IDA)* grant to support Somalia’s economic recovery through continued fiscal and other economic policy reforms. The policies will strengthen fiscal management and promote inclusive private sector-led growth. The supplemental financing helps Somalia ease the effects of the global COVID-19 crisis and