Business

Turkiye Sends Oruç Reis Vessel to Somalia for Seismic Surveys

05/10/2024 - 17:58:28
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1080
Staff Reporter
Istanbul (diplomat.so) - Turkish President Recep Tayyip Erdoğan presided over a farewell event in Istanbul for the Oruç Reis research vessel, which is embarking on an important mission to conduct 3D seismic surveys off the coast of Somalia.

Kenya Requests IMF Assessment on Corruption and Governance

05/10/2024 - 12:27:16
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713
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Nairobi (diplomat.so) – The Kenyan government has formally asked the International Monetary Fund (IMF) to conduct an official assessment of corruption and governance issues, following pressure from Western nations. The IMF confirmed the request, which aims to investigate governance vulnerabilities…

Turkish Ship Set to Begin Oil Search Off Somalia This Month

05/10/2024 - 12:14:21
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Istanbul (Diplomat.so) – A Turkish seismic research vessel, Oruc Reis, is scheduled to arrive off the coast of Somalia at the end of October to begin oil and natural gas exploration. This follows a bilateral energy cooperation agreement between the two nations, Turkey's Energy Ministry announced…
A Qatar Emiri Air Force Dassault Mirage 2000-5 fighter jet takes off as part of a Joint Task Force Odyssey Dawn mission in Souda Bay in Greece

Indonesia Halts Mirage Jet Purchase Due to Budget Constraints

12/02/2024 - 04:24:38
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3756
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Jakarta, Indonesia (diplomat.so) - Indonesia's Defence Ministry has abandoned plans to acquire Mirage 2000-5 fighter jets from Qatar, citing financial limitations. The proposed deal, valued at 733 million euros ($790 million), faced scrutiny from lawmakers and criticism from rival presidential candidates.…

Xiaomi Urges India for Incentives Amid Component Supplier Concerns"

12/02/2024 - 04:17:43
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New Delhi, India (diplomat.so) - In a recent development, Xiaomi, a major player in India's smartphone market with an 18% share, has addressed concerns to New Delhi regarding the reluctance of smartphone component suppliers to set up operations in the country. The Chinese tech giant, known for assembling…
Ukrainian President Volodymyr Zelenskyy in an F-16 fighter jet.Mads Claus Rasmussen/Ritzau Scanpix/AFP via Getty Images

Ukrainian Pilots Impressed by US F-16 Fighter Jets

12/02/2024 - 04:08:37
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Kyiv, Ukraine (diplomat.so) - Ukrainian pilots, currently undergoing training on US and European soil, have voiced their admiration for the capabilities of the US F-16 fighter jets, as reported by the Ukrainian service of the Voice of America. Describing the aircraft as exceeding their expectations,…

India Considers Extending Export Tax on Parboiled Rice

08/02/2024 - 18:57:35
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New Delhi (diplomat.so) - India, the world's leading rice exporter, is contemplating an extension of the export tax on parboiled rice in a bid to alleviate food inflation ahead of the upcoming national elections. The government, led by Prime Minister Narendra Modi, is reportedly considering maintaining…
FILE PHOTO: A cashier checks Indian rupee notes inside a room at a fuel station in Ahmedabad.

India Targets $2.2-$2.4 Billion from State Firm Stake Sales

02/02/2024 - 20:47:14
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1307
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New Delhi, India (diplomat.so) - India's government aims to raise between 180 billion and 200 billion rupees ($2.2 billion to $2.4 billion) through the sale of stakes in state-run firms by the end of the fiscal year on March 31, a senior government official revealed to Reuters on Friday.

Fire Erupts at Novatek LNG Station in Russian Leningrad Region

21/01/2024 - 14:44:53
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Moscow (diplomat.so) - The Governor of the Russian Leningrad Region, Alexander Drozdenko, confirmed on Sunday the occurrence of a fire at a station owned by the prominent liquefied natural gas (LNG) producer "Novatek" on the Baltic Sea. The incident took place in the port of Ust-Luga, with no…

China Secures Top Spot in Global Car Exports

19/01/2024 - 21:56:29
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Beijing (diplomat.so) - China has emerged as the world's leading car exporter in 2023, marking the first instance in its history, according to official statements from the Chinese Ministry of Industry. The ministry confirmed that China successfully exported a record-breaking 4.91 million cars over…

Iraq Advances Towards World Trade Organization Membership

19/01/2024 - 21:46:20
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Baghdad (diplomat.so) - Saqr Abdullah Al-Muqbel, the head of the team steering Iraq's bid to join the World Trade Organization (WTO), announced today that the nation is making noteworthy strides in its journey towards WTO membership.

Global Oil Prices Surge on Red Sea Tensions and Uncertain US Demand Outlook

19/01/2024 - 19:24:19
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1196
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Dubai (diplomat.so) - Global oil prices experienced a surge on Friday, attributed to positive expectations regarding worldwide oil demand and heightened supply risks from the ongoing Red Sea conflict. The international benchmark, Brent crude, saw a modest 0.02% increase to $79.12 per barrel, while the…

Somalia now eyes IMF funding as budget goes past $1bn mark

06/11/2023 - 10:59:25
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Mogadishu (Agencies + Diplomat.so) - Somalia is eyeing funding from the International Monetary Funds as budgetary estimates reach $1 billion mark for the first time in history. According to financial proposals endorsed by the country's Council of Ministers this week, the budget for the next fiscal…