Business

Kabul (diplomat.so) - The Taliban have taken over operations of Kabul's only luxury hotel, the Serena Hotel, following its closure by the Aga Khan Fund for Economic Development. The hotel ceased operations on February 1, with management transferred to the state-run Hotel State Owned Corporation…

Ivanpah, CA, United States (Diplomat.so) - The Ivanpah solar power plant, once hailed as the world's largest of its kind, is facing potential closure after just 11 years in operation. Opened in 2014 near the California-Nevada border, the plant struggled to compete with more affordable green energy…

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.

Cairo (diplomat.so) - Abu Dhabi-based sovereign fund ADQ has designated UAE's Modon Holding PSC as the master developer for the expansive Ras El Hekma project on Egypt's north coast, Modon announced in a statement on Friday. The project, located along the Mediterranean coast, is part of a $35…

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…

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…

Beijing, China (diplomat.so) - U.S. Treasury Secretary Janet Yellen concluded her four-day visit to Beijing on Monday with a stark warning to China, asserting that Washington will not stand idly by as new industries face destruction due to Chinese imports.

Ankara (diplomat.so) - Officials from Somalia and Turkey have announced the signing of a significant agreement aimed at exploring oil and gas resources, further bolstering cooperation between the two nations.

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.…

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…

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,…

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…

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.

Washington (diplomat.so) - The U.S. Federal Aviation Administration (FAA) has issued a recommendation for airlines operating these aircraft to inspect door plugs to ensure proper security. This advisory comes after the FAA's recent decision to ground 171 Boeing 737 MAX 9 planes following a mid-air…

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…

Moscow (diplomat.so) - Gazprom, the Russian gas giant, has confirmed the continuous supply of Russian gas to Europe through Ukraine, with a daily volume of 42.2 million cubic meters. The gas is currently transiting via the Sudzha gas pumping station, in accordance with the approval granted by Ukraine.…

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…

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.

Bengaluru (diplomat.so) - Prime Minister Narendra Modi announced at the inauguration of Boeing's India Engineering & Technology Center (BIETC) in Bengaluru that India will soon witness the production of Boeing aircraft within its borders. The BIETC, Boeing's largest facility outside the U.S.,…

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…