Diplomat News Network – Somalia & Global News

Business

Canada Hits U.S. Goods With Tariffs Up to 50%

25/08/2026 - 23:20:57
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181
Amin Guled
Ottawa (Diplomat.so) - The Government of Canada announced retaliatory tariffs Tuesday, August 25, on U.S. products entering Canada, escalating a trade confrontation with Washington after new American duties took effect days earlier.
Iranian President Masoud Pezeshkian.

Pezeshkian Says Iran Faces Mounting Economic Strains

24/08/2026 - 02:53:58
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307
Aden Abdi
Tehran (Diplomat.so) - Iranian President Masoud Pezeshkian acknowledged mounting economic and social difficulties in Iran on Sunday, August 23, as the United States prepared to intensify sanctions against Tehran.
Scott Bessent, United States Secretary of the Treasury.

U.S. Plans Tougher Iran Sanctions, Bessent Says

24/08/2026 - 02:11:14
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385
Amin Guled
Washington, D.C. (Diplomat.so) - The U.S. Treasury Department announced Monday, August 24, in Washington that it would intensify economic pressure on Iran through sweeping new sanctions targeting Tehran and its international trading partners.
Flames and thick smoke rise from the Le Parisien and Ndayizamba shopping galleries as emergency crews respond to the fire in central Bujumbura, Burundi, on August 21, 2026.

Fire Engulfs Two Shopping Galleries in Bujumbura

22/08/2026 - 01:06:54
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338
Guled Abdi
Bujumbura (Diplomat.so) - The Le Parisien and Ndayizamba shopping galleries were engulfed by fire in central Bujumbura, Burundi, early Friday, August 21, destroying businesses as emergency crews battled the blaze.
Imported crude oil supplies in China, reflecting the country's reliance on global energy sources to meet domestic demand.

Russia Strengthens Lead as China's Top Oil Supplier

20/08/2026 - 20:39:12
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364
Hared Abdalla
Moscow (Diplomat.so) - China's General Administration of Customs reported Thursday, August 20, that Russia strengthened its position as China's largest crude oil supplier during July despite sharply lower overall imports.

Kenya Air Workers Threaten July 27 Nationwide Strike

18/07/2026 - 23:24:52
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Guled Abdi
Nairobi (Diplomat.so) – The Kenya Aviation Workers Union (KAWU) announced on Friday, July 17, that it will issue a seven-day strike notice covering employees at Kenya's four major aviation employers, raising the prospect of widespread disruption at Jomo Kenyatta International Airport (JKIA) and…

Madagascar Restores Nationwide Energy Emergency

18/07/2026 - 22:19:36
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Guled Abdi
Antananarivo (Diplomat.so) – The Government of Madagascar reinstated a nationwide state of energy emergency on Friday, July 18, citing renewed tensions in the Middle East that have increased uncertainty in global oil markets and raised concerns over fuel security for the import-dependent island nation.

Revolutionary Salaam App Set to Create Ease and Foster Banking Security

01/07/2026 - 18:20:25
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Waeis Amin
Mogadishu (Diplomat.so) - In an increasingly digital economy, access to secure, efficient, and reliable financial services has become essential for entrepreneurs seeking to scale their operations. Salaam Somali Bank has responded to this demand by providing a range of digital banking solutions that…
President William Ruto inspects the ongoing construction of the Bomas International Conference Centre in Nairobi, as Kenya advances plans to expand its global conferencing and tourism capacity.

Ruto Says Kenya's Bomas Project Will Lift Tourism to 5 Million Visitors

25/06/2026 - 17:27:35
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1276
Guled Abdi
Nairobi (Diplomat.so) - William Samoei Ruto, President of Kenya, inspected the ongoing expansion of the Bomas International Conference Centre (BICC) in Nairobi on Thursday, June 25, 2026, highlighting its projected role in strengthening Kenya's tourism and business events economy.
Dr. Jibril Ibrahim, Sudan's Minister of Finance and Economic Planning.

Sudan Government Monitors Currency Exchange Stability

25/06/2026 - 16:57:06
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845
Guled Abdi
Khartoum (Diplomat.so) – Dr. Jibril Ibrahim, Sudan's Minister of Finance and Economic Planning, said on Thursday, 25 June, that the government is closely monitoring foreign exchange stability across national markets following recent fluctuations and policy interventions coordinated with the Central…

China bans exports to 10 US defence companies

22/06/2026 - 14:35:13
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Jalajed Aden
Beijing (Diplomat.so) – China Ministry of Commerce announced on Monday, June 22, 2026, new export controls targeting ten US defence and rare earth-linked companies in response to Washington's blacklisting of Chinese firms. The measures also restrict procurement and dual-use transfers, officials…

Sierra Leone Shuts Union Trust Bank Over Insolvency

18/06/2026 - 13:44:59
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995
Guled Abdi
Freetown (Diplomat.so) - The Bank of Sierra Leone announced on Wednesday, June 17, that it has revoked the operating license of Union Trust Bank Limited, Sierra Leone's only privately owned indigenous commercial bank, after determining the institution had become insolvent and no longer satisfied…

William Ruto Pushes Kenya-US Critical Minerals Deal

18/06/2026 - 13:12:03
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837
Guled Abdi
Paris (Diplomat.so) - The Government of Kenya is nearing a landmark agreement with the United States that would see the country's critical minerals processed domestically rather than exported as raw materials, President William Ruto said on Wednesday, June 17, during the G7 Summit in Évian-les-Bains,…
Somali camels, a national herd estimated at nearly 10 million, remain central to Somalia's livestock economy and pastoral life.

Siinka-Dher Camel Market in Somalia Sees Supply Drop

17/06/2026 - 20:03:22
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621
Waeis Amin
Mogadishu (Diplomat.so) – Traders at the Siinka-dher camel market on the outskirts of southwestern Mogadishu, about 17 kilometers from the capital, reported on Wednesday, June 17, that a newly imposed tax increase on camel sales is disrupting livestock trade flows into the city's main slaughterhouses.
Public transport bus in Maputo, Mozambique, operating amid rising fuel prices that have prompted government subsidy measures for transport operators nationwide.

Mozambique fuel prices squeeze fishing communities

17/06/2026 - 15:42:24
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451
Aden Abdi
Maputo (Diplomat.so) - Mozambican authorities and transport regulators in Maputo, Mozambique, on Wednesday introduced fuel subsidy measures following increases in diesel and petrol prices that have affected transport operators nationwide.
Oil facilities in Algeria operate steadily as the country's crude production rises toward the one million barrels per day milestone under OPEC+ output adjustments.

Algeria Nears 1 Million Barrels as Oil Output Rises

17/06/2026 - 15:31:52
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947
Aden Abdi
Algiers (Diplomat.so) – Algeria's Ministry of Energy, Mines and Renewable Energies reported that the country's crude oil production continued to rise during May 2026, with output reaching 982,000 barrels per day, as the country moves closer to the symbolic milestone of one million barrels…
Traders and customers navigate busy market stalls in Nigeria, where easing inflation has yet to significantly reduce the high cost of everyday food and essential goods.

Nigeria Inflation Eases but Living Costs Stay High

17/06/2026 - 15:20:02
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454
Guled Abdi
Abuja (Diplomat.so) - The Central Bank of Nigeria reported on Wednesday, June 17, that Nigeria's inflation rate has eased from 2024 highs, reflecting modest macroeconomic stabilization despite continued pressure on household living costs across major urban markets.
Aerial view of Djibouti's port facilities, where container terminals and cargo cranes operate continuously, reflecting the country's growing role as a key maritime logistics hub on the Red Sea corridor.

Djibouti port performance ranks 3rd in Africa CPPI

14/06/2026 - 18:02:10
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Guled Abdi
Djibouti (Diplomat.so) – Authority of Ports and Free Zones of Djibouti (APZFD)announced on Sunday, June 14, that Djibouti ranked third in Africa in the World Bank's Container Port Performance Index (CPPI) 2025, reflecting improved operational efficiency, reduced vessel turnaround times, and strengthened…
China–Rwanda trade ties expand as exports reach $47.7 million in April 2026, official data show, highlighting growing economic engagement between Kigali and Beijing.

China Nears Top Rwanda Export Market With $47.7M Trade

14/06/2026 - 13:13:24
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778
Guled Abdi
Kigali (Diplomat.so) – Rwanda's export sector recorded a significant shift in April 2026 as China emerged as one of the country's leading export destinations, with exports reaching US$47.74 million, narrowly behind the Democratic Republic of the Congo (DRC) at US$48.28 million, according to…

RSF-Linked Currency Plan Deepens Sudan Uncertainty

14/06/2026 - 12:58:09
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712
Guled Abdi
Khartoum (Diplomat.so) – The Sudan Founding Alliance, backed by the paramilitary Rapid Support Forces (RSF), has accelerated the creation of parallel monetary institutions in Sudan, prompting economists and banking specialists to warn that the country's financial system faces increasing fragmentation…